BMW 2013 Annual Report Download - page 127
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127 GROUP FINANCIAL STATEMENTS
Allowances for impairment on receivables from sales financing developed as follows during the year under report:
2013 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January 1,268 411 1,679
Allocated / reversed 194 104 298
Utilised – 302 – 15 – 317
Exchange rate impact and other changes – 61 – 19 – 80
Balance at 31 December 1,099 481 1,580
2012 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January* 1,355 262 1,617
Allocated / reversed 298 113 411
Utilised – 314 – 21 – 335
Exchange rate impact and other changes – 71 57 – 14
Balance at 31 December 1,268 411 1,679
* Including entities consolidated for the first time during the financial year.
At the end of the reporting period, impairment allow-
ances
of € 481 million (2012: € 411 million) were recog-
nised o
n a group basis on gross receivables from sales
financing totalling € 30,155 million (2012: € 30,813 mil-
lion). Impairment allowances of € 1,099 million (2012:
€ 1,268 million) were recognised at 31 December 2013
on a specific item basis on gross receivables from sales
financing totalling € 12,211 million (2012: € 11,149 mil-
lion).
Receivables from sales financing which were not over-
due at the end of the reporting period amounted to
€ 13,331 million (2012: € 12,631 million). No impairment
losses were recognised for these balances.
The estimated fair value of collateral received for re-
ceivables
on which impairment losses were recognised
totalled € 23,689 million (2012: € 21,649 million) at the
end of the reporting period. This collateral related
pri-
marily to vehicles. The carrying amount of assets held
as collateral and taken back as a result of payment de-
fault amounted to € 30 million (2012: € 37 million).
in € million 31. 12. 2013 31. 12. 2012
Derivative instruments 4,013 2,992
Marketable securities and investment funds 3,060 2,655
Loans to third parties 32 44
Credit card receivables 222 234
Other 825 835
Financial assets 8,152 6,760
thereof non-current 2,593 2,148
thereof current 5,559 4,612
27
Financial assets
Financial assets comprise:
The increase in derivative instruments was primarily
attributable to positive market price developments of
currency derivatives.
The rise in marketable securities and investment funds
mainly reflects an increase in the BMW Group’s strategic
liquidity reserve.