BMW 2012 Annual Report Download - page 125

125 GROUP FINANCIAL STATEMENTS
31 December 2012 Maturity Maturity Maturity Total
in € million within between one later than
one year and five years five years
Bonds 7,427 17,234 5,191 29,852
Liabilities to banks 4,595 4,232 657 9,484
Liabilities from customer deposits (banking) 10,076 2,942 – 13,018
Commercial paper 4,577 – – 4,577
Asset backed financing transactions 2,097 7,212 102 9,411
Derivative instruments 865 903 22 1,790
Other 775 233 367 1,375
Financial liabilities 30,412 32,756 6,339 69,507
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
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Income tax liabilities
Current income tax liabilities totalling € 1,482 million
(2011: € 1,363 million) include claims amounting to € 806
million (2011: € 807 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 € 1,482 million (2011: € 1,363
million) comprise € 438 million (2011: € 122 million) for
taxes payable and € 1,044 million (2011: € 1,241 million)
for tax provisions. In 2012, tax provisions of € 23 million
were reversed (2011: € 27 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.