BMW 2011 Annual Report Download - page 144

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144
76 GROUP FINANCIAL STATEMENTS
76 Income Statements
76 Statement of
Comprehensive Income
78 Balance Sheets
80 Cash Flow Statements
82 Group Statement of Changes
in Equity
84 Notes
84 Accounting Principles
and Policies
100 Notes to the Income
Statement
107 Notes to the Statement
of Comprehensive Income
108
Notes to the Balance Sheet
129 Other Disclosures
145 Segment Information
provisions amounting to € 19.0 million (2010: € 17.4
million), computed in accordance with IAS 19 (Em-
ployee Benefits).
The remuneration of former members of the Board of
Management and their dependants amounted to
€ 3.7 million (2010: € 3.7 million).
Pension obligations to former members of the Board of
Management and their surviving dependants are fully
covered by pension provisions amounting to € 51.6 mil-
lion (2010: € 49.7 million), computed in accordance with
IAS 19.
The compensation of the members of the Supervisory
Board for the financial year 2011 amounted to € 4.5
million (2010: € 3.1 million). This comprised fixed
com-
Application of exemptions pursuant to § 264 (3) and
§ 264b HGB
A number of companies and incorporated partnerships
(as defined by § 264a HGB) which are affiliated, con-
solidated
entities of BMW AG and for which the con-
solidated financial statements of BMW AG represent ex-
empting consolidated financial statements, apply the
exemptions available in § 264 (3) and § 264b HGB with
regard to the drawing up of a management report.
The
exemptions have been applied by:
– Bavaria Wirtschaftsagentur GmbH, Munich
– BMW Fahrzeugtechnik GmbH, Eisenach
– BMW Hams Hall Motoren GmbH, Munich
– BMW M GmbH Gesellschaft für individuelle
Automobile, Munich
– Rolls-Royce Motor Cars GmbH, Munich
ponents of € 1.6 million (2010: € 1.6 million) and variable
components of € 2.9 million (2010: € 1.5 million).
The compensation system for members of the Super-
visory Board do not include any stock options, value ap-
preciation rights comparable to stock options or any
other stock-based compensation components. Apart
from vehicle lease contracts entered into on customary
market conditions, no advances and loans were granted
by the Company to members of the Board of Manage-
ment and the Supervisory Board, nor were any contin-
gent liabilities entered into on their behalf.
Further details about the remuneration of current mem-
bers of the Board of Management and the Supervisory
Board can be found in the Compensation Report, which
is part of the Combined Group and Company Manage-
ment Report.
In addition, the following entities apply the exemption
available in § 264 (3) and § 264b HGB with regard to
publication:
– Bavaria Wirtschaftsagentur GmbH, Munich
– BMW Fuhrparkmanagement Beteiligungs GmbH,
Munich
–
BMW Hams Hall Motoren GmbH, Munich
– BMW M GmbH Gesellschaft für individuelle Auto-
mobile, Munich
–
BMW INTEC Beteiligungs GmbH, Munich
– BMW Verwaltungs GmbH, Munich
– Rolls-Royce Motor Cars GmbH, Munich
48