BMW 2009 Annual Report Download - page 104

102
74 Group Financial Statements
74 Income Statements
74 Statement of
Comprehensive Income
76 Balance Sheets
78 Cash Flow Statements
80 Group Statement of Changes
in Equity
81 Notes
81 Accounting Principles
and Policies
90 Notes to the Income
Statement
97
Notes to the Statement
of Comprehensive Income
98 Notes to the Balance Sheet
119 Other Disclosures
133 Segment Information
in euro million 31. 12. 2009 31. 12. 2008
Gross investment in finance leases
due within one year 3,477 3,315
due between one and five years 6,269 6,357
due later than five years 28 29
9,774 9,701
Present value of future minimum lease payments
due within one year 3,056 2,932
due between one and five years 5,542 5,634
due later than five years 25 27
8,623 8,593
Unrealised interest income 1,151 1,108
in euro million 31. 12. 2009 31. 12. 2008
Gross carrying amount 41,950 39,116
Allowance for impairment –1,356 –1,053
Net carrying amount 40,594 38,063
2009 Allowance for impairment recognised on a Total
in euro million specific item basis group basis
Balance at 1 January 938 115 1,053
Allocated / reversed 682 50 732
Utilised – 444 –10 – 454
Exchange rate impact and other changes 1 9 6 25
Balance at 31 December 1,195 161 1,356
2008 Allowance for impairment recognised on a Total
in euro million specific item basis group basis
Balance at 1 January* 672 125 797
Allocated / reversed 543 1 0 553
Utilised – 262 –14 – 276
Exchange rate impact and other changes –15 – 6 – 21
Balance at 31 December 938 115 1,053
* including entities consolidated for the first time during the financial year
24 Receivables from sales financing
Receivables from sales financing, totalling euro 40,594 mil-
lion (2008: euro 38,063 million), comprise euro 31,971 mil-
lion (2008: euro 29,470 million) for credit financing for retail
customers and dealers and euro 8,623 million (2008: euro
8,593 million) for finance leases. Finance leases are ana-
lysed as follows:
Contingent rents recognised as income (generally relating
to the distance driven) amounted to euro 3 million (2008:
euro 5 million). Write-downs on finance leases amounting
to euro 58 million (2008: euro 52 million) were measured
and recognised on the basis of specific credit risks. Un-
guaranteed residual values which will fall to the benefit of
the lessor amounted to euro 3 million (2008: euro 1 mil-
lion).
Receivables from sales financing include euro 23,478 mil-
lion (2008: euro 22,192 million) with a remaining term of
more than one year.
Allowance for impairment and credit risk
Allowances for impairment on receivables from sales financing developed as following during the year under report: