BMW 2010 Annual Report Download - page 84

82
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
89 Notes to the Income
Statement
95 Notes to the Statement
of Comprehensive Income
96 Notes to the Balance Sheet
117 Other Disclosures
133 Segment Information
Germany Foreign Total
Included at 31 December 2009 32 149 181
Included for the first time in 2010 – 4 4
No longer included in 2010 2 7 9
Included at 31 December 2010 30 146 176
2
the electronic version of the German Federal Gazette
and can be obtained via the Company Register website.
Printed copies will also be made available on request.
Inaddition the Group Financial Statements and the Group
Management Report can be downloaded from the BMW
Group website at www.bmwgroup.com/ir.
The Board of Management authorised the Group Finan-
cial Statements for issue on 15 February 2011.
Consolidated companies
The BMW Group Financial Statements include, besides
BMW AG, all material subsidiaries, six special purpose
securities funds and 19 special purpose trusts (almost all
used for asset-backed financing transactions).
The number of subsidiaries, special purpose securities
funds and other special purpose entities included in the
Group Financial Statements changed in 2010 as follows:
51 subsidiaries (2009: 53), either dormant or generat-
ing
a negligible volume of business, are not consoli-
dated
onthe grounds that their inclusion would not
influence the economic decisions of users of the Group
Financial Statements. Non-inclusion of operating
subsidiaries reduces total Group revenues by 0.3%
(2009: 0.6%).
The joint venture BMW Brilliance Automotive Ltd., Shen-
yang, and the investment in Cirquent GmbH, Munich,
are accounted for using the equity method. The entities
SGL Automotive Carbon Fibers GmbH & Co. KG, Munich,
SGL Automotive Carbon Fibers Verwaltungs GmbH,
Munich, and SGL Automotive Carbon Fibers LLC, Dover,
DE, (all joint ventures with the SGL Carbon Group), are
also accounted for using the equity method. 13 (2009:
15)
participations are not consolidated using the equity
method on the grounds of immateriality. They are in-
cluded in the balance sheet in the line “Other investments”,
measured at cost less, where applicable, accumulated
impairment losses.
A “List of Group Investments” pursuant to § 313 (2) HGB
will be submitted to the operator of the electronic version
of the German Federal Gazette. This list, along with the
“List of Third Party Companies which are not of Minor Im-
portance for the Group”, will also be posted on the BMW
Group website at www.bmwgroup.com/ir.
Husqvarna Motorcycles North America LLC, Wilmington,
DE,
and Husqvarna Motorcycles S. r. l., Cassinetta di
Biandronno, were consolidated for the first time at 31De-
cember 2010.
BMW Ingenieur-Zentrum Verwaltungs GmbH, Dingolfing,
was merged with BMW Ingenieur-Zentrum GmbH+Co
oHG, Dingolfing, (until 16 July 2010: BMW Ingenieur-
Zentrum GmbH+Co., Dingolfing) with retrospective ef-
fect from 1 January 2010. As a result, by dint of German
law, BMW Ingenieur-Zentrum GmbH+Co oHG, Dingol-
fing, automatically became a part of BMW AG, Munich.
BMW Ingenieur-Zentrum Verwaltungs GmbH, Dingol-
fing, and BMW Ingenieur-Zentrum GmbH+Co oHG,
Dingol fing, therefore both ceased to be consolidated
companies. In addition, BMW Polska Sp. z o. o., Warsaw,
was merged with BMW Vertriebs GmbH, Salzburg, and
therefore also ceased to be a consolidated company.
The Group reporting entity also changed by comparison
to the previous year as a result of the first-time consoli-
dation of two special purpose entities and the deconsoli-
dation of six special purpose entities.
The changes are not material because the resulting im-
pact on the Group Financial Statements would not influ-
ence the economic decisions of users taken on the basis
of the financial statements.