BMW 2013 Annual Report Download - page 126

126
88 GROUP FINANCIAL STATEMENTS
88 Income Statements
88 Statement of
Comprehensive Income
90 Balance Sheets
92 Cash Flow Statements
94 Group Statement of Changes in
Equity
96 Notes
96 Accounting Principles and
Policies
114 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122
Notes to the Balance Sheet
145 Other Disclosures
161 Segment Information
in € million 31. 12. 2013 31. 12. 2012
Gross investment in finance leases
due within one year 4,816 4,580
due between one and five years 9,748 8,938
due later than five years 98 118
14,662 13,636
Present value of future minimum lease payments
due within one year 4,378 4,094
due between one and five years 8,813 8,060
due later than five years 85 110
13,276 12,264
Unrealised interest income 1,386 1,372
26
Receivables from sales financing
Receivables from sales financing, totalling € 54,117 mil-
lion (
2012: € 52,914 million), comprise € 40,841 million
(2012: € 40,650 million) for credit financing for retail
Additions to investments in non-consolidated sub-
sidiaries
relate primarily to capital increases at the level
of BMW Milano S.r.l., Milan, BMW Retail Nederland
B.V., Haaglanden, and BMW i Ventures B.V., Rijswijk.
Additions to participations relate primarily to the pur-
chase of available-for-sale marketable securities.
The impairment loss of € 16 million on investments in
non-consolidated subsidiaries relates mainly to invest-
ments in dealerships.
Disposals of investments in subsidiaries result primarily
from the deconsolidation of the Husqvarna Group.
customers and dealers and € 13,276 million (2012:
€ 12,264 million) for finance leases. Finance leases are
analysed as follows:
Impairment losses on participations – recognised with
income statement effect – related mainly to the invest-
ment in SGL Carbon SE, Wiesbaden, which was written
down on the basis of objective criteria.
A break-down of the different classes of other investments
disclosed in the balance sheet and changes during the
year are shown in the analysis of changes in Group tan-
gible, intangible and investment assets in note 21.
If the Group’s share of the at-equity result of BMW
Brilliance Automotive Ltd., Shenyang, were reported as
part of the Automotive segment’s EBIT, the EBIT mar-
gin would increase by 0.6 percentage points to 10.0 %.
in € million 31. 12. 2013 31. 12. 2012
Gross carrying amount 55,697 54,593
Allowance for impairment – 1,580 – 1,679
Net carrying amount 54,117 52,914
Contingent rents recognised as income (generally
relating to the distance driven) amounted to € 3 million
(2012: € 3 million). Write-downs on finance leases
amounting to € 159 million (2012: € 149 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 € 120 million (2012:
€ 85 million).
Receivables from sales financing include € 32,616
mil-
lion (2012: € 32,309 million) with a remaining term of
more than one year.
Allowance for impairment and credit risk