BMW 2014 Annual Report Download - page 126

126
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 31. 12. 2014 31. 12. 2013
Total of future minimum lease payments
due within one year 13 14
due between one and five years 53 13
due later than five years 53 44
119 71
Interest portion of the future minimum lease payments
due within one year 8 3
due between one and five years 25 7
due later than five years 12 13
45 23
Present value of future minimum lease payments
due within one year 5 11
due between one and five years 28 6
due later than five years 41 31
74 48
23
24
Intangible assets
Intangible assets mainly comprise capitalised develop-
ment costs on vehicle and engine projects as well as
subsidies for tool costs, licences, purchased development
projects, software and purchased customer bases.
Amortisation on intangible assets is presented in cost of
sales, selling expenses and administrative expenses.
Other intangible assets include a brand-name right
amounting to € 46 million (2013: € 43 million). This
line item also includes goodwill of € 33 million (2013:
€ 33 million) allocated to the Automotive cash-gener-
ating
unit (CGU) and goodwill of € 331 million (2013:
€ 336 million) allocated to the Financial Services CGU,
whereby the decrease compared to 31 December 2013
related to the sale of Noord Lease B. V., Groningen.
Property, plant and equipment
A break-down of the different classes of property, plant
and equipment disclosed in the balance sheet and
changes during the year are shown in the analysis of
changes in Group tangible, intangible and investment
assets in note 22.
As in the previous year, there was no requirement to
recognise impairment losses in 2014.
No borrowing costs were recognised as a cost compo-
nent of property, plant and equipment during the year
under report.
Property, plant and equipment include a total of € 67 mil-
lion (2013: € 42 million) relating to land and operational
Intangible assets amounting to € 46 million (2013:
€ 43 million) are subject to restrictions on title.
As in the previous year, there was no requirement to
recognise impairment losses or reversals of impair-
ment
losses on intangible assets in 2014.
As in the previous year no borrowing costs were recog-
nised as a cost component of intangible assets during
the year under report.
An analysis of changes in intangible assets is provided
in note 22.
buildings, for which economic ownership is attributable
to the BMW Group due to the nature of the lease ar-
rangements (finance leases). Leases to which BMW AG
is party, with a carrying amount of € 64 million (2013:
€ 37 million), run for periods up to 2028 at the latest and
contain price adjustment clauses as well as extension
and purchase options. The asset leased by BMW Tokyo
Corp., Tokyo, has a carrying amount of € 2 million (2013:
€ 2 million) under a lease with a remaining term of
17 years. BMW Osaka Corp., Osaka, is party to finance
leases running until 2022 for operational buildings with
a carrying amount of € 1 million at 31 December 2014
(2013: € 2 million).
Minimum lease payments of the relevant leases are as
follows: