BMW 2014 Annual Report Download - page 116

116
90 GROUP FINANCIAL STATEMENTS
90 Income Statements
90 Statement of
Comprehensive Income
92 Balance Sheets
94 Cash Flow Statements
96 Group Statement of Changes in
Equity
98 Notes
98 Accounting Principles and
Policies
116 Notes to the Income Statement
123 Notes to the Statement
of Comprehensive Income
124
Notes to the Balance Sheet
149 Other Disclosures
165 Segment Information
in € million 2014 2013*
Sales of products and related goods 60,280 56,812
Income from lease instalments 7,748 7,296
Sale of products previously leased to customers 6,716 6,412
Interest income on loan financing 2,881 2,868
Other income 2,776 2,671
Revenues 80,401 76,059
* Prior year figures have been adjusted in accordance with IAS 8, see note 9.
in € million 2014 2013*
Manufacturing costs 38,253 36,578
Research and development expenses 4,135 4,118
Warranty expenditure 1,451 1,243
Cost of sales directly attributable to financial services 14,716 14,044
Interest expense relating to financial services business 1,407 1,483
Expense for risk provisions and write-downs for financial services business 362 435
Other cost of sales 3,072 2,890
Cost of sales 63,396 60,791
* Prior year figures have been adjusted in accordance with IAS 8, see note 9.
in € million 2014 2013*
Research and development expenses 4,135 4,118
Amortisation – 1,068 – 1,069
New expenditure for capitalised development costs 1,499 1,744
Total research and development expenditure 4,566 4,793
* Prior year figures have been adjusted in accordance with IAS 8, see note 9.
BMW Group
Notes to the Group Financial Statements
Notes to the Income Statement
10
11
Revenues
Revenues by activity comprise the following:
An analysis of revenues by business segment and geographical region is shown in the segment information in
note 50.
12
Cost of sales
Cost of sales comprises:
Group cost of sales include € 16,485 million (2013:
€ 15,962 million) relating to Financial Services business.
As in the previous year, manufacturing costs do not con-
tain
any impairment losses on intangible assets and
property, plant and equipment. Cost of sales is reduced
by public-sector subsidies in the form of reduced taxes
Selling and administrative expenses
Selling expenses amounted to € 5,344 million (2013*:
€ 4,886 million) and comprise mainly marketing, adver-
tising and sales personnel costs.
on assets and reduced consumption-based taxes amount-
ing to € 54 million (2013: € 45 million).
Total research and development expenditure comprises
research costs, non-capitalised development costs and
capitalised development costs (excluding scheduled
amortisation). Total research and development expendi-
ture was as follows:
Administrative expenses amounted to € 2,548 million
(2013*: € 2,371 million) and comprise expenses for ad-
ministration not attributable to development, produc-
tion or sales functions.
* Prior year figures have been adjusted in accordance with IAS 8, see note 9.