BMW 2013 Annual Report Download - page 97

97 GROUP FINANCIAL STATEMENTS
version of the German Federal Gazette and can be ob-
tained via the Company Register website. Printed copies
will also be made available on request. In addition the
Group Financial Statements and the Combined Manage-
ment Report can be downloaded from the BMW Group
website at www.bmwgroup.com / ir.
The Board of Management authorised the Group Finan-
cial Statements for issue on 20 February 2014.
The number of subsidiaries – including special purpose
securities funds and special purpose trusts –
consoli-
dated in the Group Financial Statements changed in 2013
as follows:
Minor Importance for the Group”, will also be posted
on the BMW Group website at www.bmwgroup.com / ir.
The List of Group Investments, the List of Third Party
Companies which are not of Minor Importance for the
Group and the full list of consolidated companies are
also posted as appendices on the BMW Group website.
No subsidiaries were consolidated for the first time in the
financial year 2013. BMW Peugeot Citroën Electrification
GmbH, Munich, which was not part of the Group re-
porting entity at 31 December 2012, was merged with
BMW AG, Munich, with retrospective effect from 1 Janu-
ary 2013. In addition, Laja Mobilien Verwaltungs GmbH,
Grünwald, which was not part of the Group reporting
entity at 31 December 2012, was merged with BMW
Finanz Verwaltungs GmbH, Munich, in the fourth quar-
ter of 2013.
Husqvarna Motorcycles S.r.l., Cassinetta di Biandronno,
and Husqvarna Motorcycles NA, LLC, Wilmington, DE,
were sold and therefore ceased to be consolidated com-
panies. Alphabet International B.V., Amsterdam, was
merged with Alphabet Nederland B.V., Breda, with retro-
spective
effect from 1 January 2013 and hence ceased
to be a consolidated company. GVK Gesellschaft für Ver-
mietung und Verwaltung von Kraftfahrzeugen mbH,
All consolidated subsidiaries have the same year-end
as BMW AG with the exception of BMW India Private
Ltd., Gurgaon, and BMW India Financial Services
Private Ltd., Gurgaon, both of whose year-ends are
31 March.
The Group Financial Statements, drawn up in accord-
ance with § 315a HGB, and the Combined Management
Report for the financial year ended 31 December 2013
will be submitted to the operator of the electronic
Consolidated companies
The BMW Group Financial Statements include, besides
BMW AG, all material subsidiaries, five special purpose
securities funds and 32 special purpose trusts (almost all
used for asset-backed financing transactions).
48 subsidiaries (2012: 51), either dormant or generating
a negligible volume of business, are not consolidated
on the grounds that their inclusion would not influence
the economic decisions of users of the Group Financial
Statements. Non-inclusion of operating subsidiaries re-
duces total Group revenues by 1.0 % (2012: 0.9 %).
The joint ventures SGL Automotive Carbon Fibers
GmbH & Co. KG, Munich, SGL Automotive Carbon
Fibers Verwaltungs GmbH, Munich, and SGL Auto-
motive Carbon Fibers LLC, Dover, DE, as well as BMW
Brilliance Automotive Ltd., Shenyang, are accounted
for using the equity method. Similarly, the joint ven-
tures DriveNow GmbH & Co. KG, Munich, and Drive-
Now Verwaltungs GmbH, Munich, are accounted for
using the equity method. Six (2012: four) participa-
tions
are not consolidated using the equity method on
the grounds of immateriality. They are included in
the balance sheet in the line “Other investments”,
measured at cost less, where applicable, accumulated
impairment losses.
A “List of Group Investments” pursuant to § 313 (2) HGB
will be submitted to the operator of the electronic ver-
sion of the German Federal Gazette. This list, along with
the “List of Third Party Companies which are not of
2
Germany Foreign Total
Included at 31 December 2012 24 164 188
Included for the first time in 2013 1 12 13
No longer included in 2013 1 9 10
Included at 31 December 2013 24 167 191