BMW 2013 Annual Report Download - page 60
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60
18 COMBINED MANAGEMENT REPORT
18
General Information on the BMW Group
18 Business Model
20 Management System
23 Research and Development
24 Report on Economic Position
24 Overall Assessment by Management
24 General and Sector-specific
Environment
27
Financial and Non-financial
Performance Indicators
29 Review of Operations
47 Results of Operations, Financial
Position and Net Assets
62 Events after the End of the
Reporting Period
63 Report on Outlook, Risks and
Opportunities
63 Outlook
68 Risks Report
77 Report on Opportunities
81 Internal Control System and Risk
Management System Relevant for
the
Consolidated Financial Reporting Process
82 Disclosures Relevant for Takeovers
and Explanatory Comments
85
BMW Stock and Capital Markets
BMW AG Balance Sheet at 31 December
in € million
2013 2012
Assets
Intangible assets 474 178
Property, plant and equipment 8,982 7,806
Investments 3,377 3,094
Tangible, intangible and investment assets 12,833 11,078
Inventories 3,863 3,749
Trade receivables 659 858
Receivables from subsidiaries 4,871 6,297
Other receivables and other assets 3,194 2,061
Marketable securities 3,429 2,514
Cash and cash equivalents 3,757 4,618
Current assets 19,773 20,097
Prepayments 169 118
Surplus of pension and similar plan assets over liabilities 990 672
Total assets 33,765 31,965
Equity and liabilities
Subscribed capital 656 656
Capital reserves 2,069 2,053
Revenue reserves 6,097 5,515
Unappropriated profit available for distribution 1,707 1,640
Equity 10,529 9,864
Registered profit-sharing certificates 32 32
Pension provisions 43 56
Other provisions 7,299 7,406
Provisions 7,342 7,462
Liabilities to banks 1,463 1,408
Trade payables 4,818 3,900
Liabilities to subsidiaries 8,795 8,451
Other liabilities 285 800
Liabilities 15,361 14,559
Deferred income 501 48
Total equity and liabilities 33,765 31,965
and a contribution to capital reserves at the level of
BMW Bank GmbH, Munich. An impairment loss of
€ 16 million was recognised in 2013 on the investment
in SGL Carbon SE, Wiesbaden.
Inventories were slightly higher than one year earlier
and stood at € 3,863 million at the end of the reporting
period (2012: € 3,749 million), reflecting higher busi-
ness volumes generally and stocking up in conjunction
with the introduction of new models.