BMW 2014 Annual Report Download - page 130

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130
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
2013 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January 1,268 411 1,679
Allocated / reversed 194 104 298
Utilised – 302 – 15 – 317
Exchange rate impact and other changes – 61 – 19 – 80
Balance at 31 December 1,099 481 1,580
At the end of the reporting period, impairment allow-
ances
of € 515 million (2013: € 481 million) were
recog-
nised on a group basis on gross receivables from sales
financing totalling € 38,780 million (2013*: € 33,740 mil-
lion). Impairment allowances of € 1,000 million (2013:
€ 1,099 million) were recognised at 31 December 2014
on a specific item basis on gross receivables from sales
financing totalling € 12,951 million (2013: € 12,211 mil-
lion).
Receivables from sales financing which were not over-
due at the end of the reporting period amounted to
€ 10,808 million (2013*: € 9,746 million). No impairment
losses were recognised for these balances.
The estimated fair value of collateral received for receiv-
ables on which impairment losses were recognised to-
talled € 25,443 million (2013: € 23,689 million) at the end
of the reporting period. This collateral related primarily
to vehicles. The carrying amount of assets held as col-
lateral
and taken back as a result of payment default
amounted to € 41 million (2013: € 30 million).
in € million 31. 12. 2014 31. 12. 2013
Derivative instruments 2,888 4,013
Marketable securities and investment funds 3,972 3,060
Loans to third parties 12 32
Credit card receivables 239 222
Other 297 825
Financial assets 7,408 8,152
thereof non-current 2,024 2,593
thereof current 5,384 5,559
29
Financial assets
Financial assets comprise:
The decrease in derivative instruments was primarily
attributable to negative market price developments of
currency derivatives.
The rise in marketable securities and investment funds
mainly reflects an increase in the BMW Group’s strate-
gic liquidity reserve.
The amount by which the value of the investment funds
exceeds obligations for part-time working arrangements
(€ 48 million; 2013: € 44 million) is reported under “Other
financial assets”. Investment funds are held to secure
these obligations. These funds are managed by BMW
Trust e. V., Munich, as part of a Contractual Trust
Arrange ment (CTA) and are therefore netted against
the corresponding settlement arrears for pre-retirement
part-time work arrangements.
* Prior year figures amended.