BMW 2013 Annual Report Download - page 151
Download and view the complete annual report
Please find page 151 of the 2013 BMW annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156 -
157 -
158 -
159 -
160 -
161 -
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
 |
 |
151 GROUP FINANCIAL STATEMENTS
Other investments (available-for-sale) amounting to
€ 174 million (2012: € 157 million) are measured at amor-
tised cost since quoted market prices are not available
or cannot be determined reliably. These are therefore
not included in the level hierarchy shown above. In ad-
dition, other investments amounting to € 379 million
(2012: € 391 million) are measured at fair value since
quoted market prices are available. These items are in-
cluded in Level 1.
As in the previous year, there were no reclassifications
within the level hierarchy during the financial year
2013.
In situations where a fair value was required to be meas-
ured for a financial instrument only for disclosure pur-
poses, this was achieved using the discounted cash flow
method and taking account of the BMW Group’s own
default risk; for this reason, the fair values calculated
can be allocated to Level 2.
Offsetting of financial instruments
In the BMW Group, financial assets and liabilities re-
lating to derivative financial instruments would
normally be required to be offset. No offsetting takes
place for accounting purposes, however, since the
necessary criteria are not met. Since legally enforce-
able master netting agreements or similar contracts
are in place, actual offsetting would be possible in
principle, for instance in the case of insolvency. Off-
setting would have the following impact on the carry-
ing amounts of derivatives:
31 December 2012 Level hierarchy in accordance with IFRS 13
in € million Level 1 Level 2 Level 3
Marketable securities, investment fund shares and collateral assets – available-for-sale 2,812 – –
Other investments – available-for-sale 391 – –
Derivative instruments (assets)
Cash flow hedges – 925 –
Fair value hedges – 1,457 –
Other derivative instruments – 610 –
Derivative instruments (liabilities)
Cash flow hedges – 701 –
Fair value hedges – 320 –
Other derivative instruments – 769 –
in € million 31. 12. 2013 31. 12. 2012
Reported on Reported on Reported on Reported on
assets side equity and assets side equity and
liabilities side liabilities side
Balance sheet amounts as reported 4,013 1,103 2,992 1,790
Gross amount of derivatives which can be offset in case of insolvency – 710 – 710 – 1,004 – 1,004
Net amount after offsetting 3,303 393 1,988 786