BMW 2011 Annual Report Download - page 2
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4 BMW GROUP IN FIGURES
6 REPORT OF THE SUPERVISORY BOARD
14 STATEMENT OF THE CHAIRMAN OF THE
BOARD OF MANAGEMENT
18 COMBINED GROUP AND COMPANY MANAGEMENT REPORT
18 A Review of the Financial Year
20 General Economic Environment
24 Review of Operations
43 BMW Stock and Capital Market in 2011
46
Disclosures relevant for takeovers and explanatory comments
49 Financial Analysis
49 Group Internal Management System
51 Earnings Performance
53 Financial Position
56 Net Assets Position
59 Subsequent Events Report
59 Value Added Statement
61 Key Performance Figures
62 Comments on Financial Statements of BMW AG
66 Internal Control System and explanatory comments
67 Risk Management
73 Outlook
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 to the Group Financial Statements
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
150
Responsibility Statement by the
Company’s Legal Representatives
151
Auditor’s Report
152 STATEMENT ON CORPORATE GOVERNANCE
(Part of the Combined Group and
Company Management Report)
152 Information on the Company’s Governing
Constitution
153 Declaration of the Board of Management
and of the Supervisory Board pursuant to § 161 AktG
154 Members of the Board of Management
155 Members of the Supervisory Board
158 Composition and work procedures of the Board of
Management of BMW AG and its committees
160 Composition and work procedures of the Supervisory Board
of BMW AG and its committees
165 Compensation Report
173 Information on Corporate Governance
Practices Applied Beyond Mandatory
Requirements
175 Compliance in the BMW Group
178 OTHER INFORMATION
178 BMW Group Ten-year Comparison
180 BMW Group Locations
182 Glossary
184 Index
190 Financial Calendar
191 Contacts
Contents