BMW 2012 Annual Report Download - page 100

100
78 GROUP FINANCIAL STATEMENTS
78 Income Statements
78 Statement of
Comprehensive Income
80 Balance Sheets
82 Cash Flow Statements
84 Group Statement of Changes
in Equity
86 Notes
86 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
in € million 2 012 2011
Sales of products and related goods 58,039 52,331
Income from lease instalments 6,900 5,628
Sale of products previously leased to customers 6,399 6,226
Interest income on loan financing 2,954 2,774
Other income 2,556 1,862
Revenues 76,848 68,821
in € million 2 012 2011
Manufacturing costs 37,648 33,594
Research and development expenses 3,993 3,610
Warranty expenditure 1,200 918
Cost of sales directly attributable to financial services 13,370 11,723
Interest expense relating to financial services business 1,819 1,914
Expense for risk provisions and write-downs for financial services business 798 431
Other cost of sales 2,526 2,086
Cost of sales 61,354 54,276
in € million 2 012 2011
Research and development expenses 3,993 3,610
Amortisation – 1,130 – 1,209
New expenditure for capitalised development costs 1,089 972
Total research and development expenditure 3,952 3,373
BMW Group
Notes to the Group Financial Statements
Notes to the Income Statement
8
9
Revenues
Revenues by activity comprise the following:
An analysis of revenues by business segment and geographical region is shown in the segment information in
note 48.
10
Cost of sales
Cost of sales comprises:
Cost of sales include € 15,987 million (2011: € 14,068 mil-
lion) relating to financial services business.
As in the previous year, manufacturing costs do not con-
tain
any impairment losses on intangible assets and
property, plant and equipment. Cost of sales is reduced
by public-sector subsidies in the form of reduced taxes on
assets and reduced consumption-based taxes amount-
ing to € 45 million (2011: € 47 million).
Selling and administrative expenses
Selling expenses amounted to € 5,147 million (2011:
€ 4,554 million) and comprise mainly marketing, adver-
tising and sales personnel costs.
Total research and development expenditure, com-
prising research expenses, development costs not
recognised as assets on the one hand and capitalised
de velopment costs and the scheduled amortisation
thereof
on the other, was as follows:
Administrative expenses amounted to € 1,860 million
(2011: € 1,623 million) and comprise expenses for
administration not attributable to development, pro-
duction or sales functions.