BMW 2012 Annual Report Download - page 112

112
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 31. 12. 2012 31. 12. 2011
Gross investment in finance leases
due within one year 4,580 4,217
due between one and five years 8,938 7,933
due later than five years 118 102
13,636 12,252
Present value of future minimum lease payments
due within one year 4,094 3,725
due between one and five years 8,060 7,233
due later than five years 110 92
12,264 11,050
Unrealised interest income 1,372 1,202
25
Receivables from sales financing
Receivables from sales financing, totalling € 52,914 mil-
lion (2011: € 49,345 million), comprise € 40,650 million
(2011: € 38,295 million) for credit financing for retail
Additions to investments in non-consolidated subsidiar-
ies relate primarily to a capital increase at the level of,
and purchase of the remaining shares of, BMW Peugeot
Citroën Electrification B. V., The Hague, on the one
hand and to a capital increase at the level of BMW Dis-
tribution S. A. S., Montigny-le-Bretonneux on the other.
Additions to participations relate primarily to the pur-
chase of available-for-sale marketable securities.
The impairment loss of € 9 million on investments in non-
consolidated subsidiaries relates mainly to an invest-
ment in a dealership which was written down after being
tested for impairment.
customers and dealers and € 12,264 million (2011:
€ 11,050 million) for finance leases. Finance leases are
analysed as follows:
Disposals of investments in non-consolidated subsidiar-
ies primarily result from the first-time consolidation of
BMW India Financial Services Private Ltd., New Delhi,
and PT BMW Indonesia, Jakarta.
Impairment losses on participations – recognised with
income statement effect – related mainly to the invest-
ment in SGL Carbon SE, Wiesbaden, which was written
down after being tested for impairment.
A break-down of the different classes of other invest-
ments disclosed in the balance sheet and changes during
the year are shown in the analysis of changes in Group
tangible, intangible and investment assets in note 20.
in € million 31. 12. 2012 31. 12. 2011
Gross carrying amount 54,593 50,961
Allowance for impairment – 1,679 – 1,616
Net carrying amount 52,914 49,345
Contingent rents recognised as income (generally
relating to the distance driven) amounted to € 3 million
(2011: € 2 million). Write-downs on finance leases
amounting to € 149 million (2011: € 77 million) were
measured and recognised on the basis of specific credit
risks. Non-guaranteed residual values that fall to the
benefit of the lessor amounted to € 85 million (2011:
€ –
million).
Receivables from sales financing include € 32,309 mil-
lion
(2011: € 29,331 million) with a remaining term of
more than one year.
Allowance for impairment and credit risk