BMW 2011 Annual Report Download - page 125

125 GROUP FINANCIAL STATEMENTS
31 December 2011 Maturity Maturity Maturity Total
in € million within between one later than
one year and five years five years
Bonds 8,009 16,069 4,495 28,573
Liabilities to banks 2,983 5,166 249 8,398
Liabilities from customer deposits (banking) 8,928 3,090 23 12,041
Commercial paper 5,478 – – 5,478
Asset backed financing transactions 3,152 6,233 – 9,385
Derivative instruments 999 1,456 24 2,479
Other 831 397 395 1,623
Financial liabilities 30,380 32,411 5,186 67,977
31 December 2010 Maturity Maturity Maturity Total
in € million within between one later than
one year and five years five years
Bonds 6,681 17,883 3,004 27,568
Liabilities to banks 3,514 3,676 550 7,740
Liabilities from customer deposits (banking) 7,590 3,076 23 10,689
Commercial paper 5,242 – – 5,242
Asset backed financing transactions 1,793 5,713 – 7,506
Derivative instruments 944 1,033 33 2,010
Other 756 454 388 1,598
Financial liabilities 26,520 31,835 3,998 62,353
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Income tax liabilities
Current income tax liabilities totalling € 1,363 million
(2010: € 1,198 million) include claims amounting to € 807
million (2010: € 549 million) which are expected to be
settled after more than twelve months. Some of the lia-
bilities may be settled earlier than this depending on
the timing of proceedings.
Current tax liabilities of € 1,363 million (2010: € 1,198
million) comprise € 122 million (2010: € 189 million) for
taxes payable and € 1,241 million (2010: € 1,009 million)
for tax provisions. In 2011, tax provisions of € 27 million
were reversed (2010: € – million).
Financial liabilities
Financial liabilities include all liabilities of the BMW
Group at the relevant balance sheet dates relating to
The BMW Group uses various short-term and long-term
refinancing instruments on money and capital markets
to finance its operations. This diversification enables it
to obtain attractive market conditions.
The main instruments used are corporate bonds, asset-
backed financing transactions, liabilities to banks and
liabilities from customer deposits (banking).
financing activities. Financial liabilities comprise the
following:
Customer deposit liabilities arise in the BMW Group’s
banks in Germany and the USA, both of which offer a
range of investment products.