BMW 2015 Annual Report Download - page 113
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113 GROUP FINANCIAL STATEMENTS
in € million 2015 2014
Sales of products and related goods 68,643 60,280
Income from lease instalments 8,965 7,748
Sales of products previously leased to customers 8,181 6,716
Interest income on loan financing 3,253 2,881
Other income 3,133 2,776
Revenues 92,175 80,401
in € million 2015 2014
Manufacturing costs 43,685 38,253
Research and development expenses 4,271 4,135
Warranty expenditure 1,891 1,451
Cost of sales directly attributable to financial services 17,407 14,716
Interest expense relating to financial services business 1,495 1,407
Expense for risk provisions and write-downs for financial services business 547 362
Other cost of sales 4,747 3,072
Cost of sales 74,043 63,396
in € million 2015 2014
Research and development expenses 4,271 4,135
Amortisation – 1,166 – 1,068
New expenditure for capitalised development costs 2,064 1,499
Total research and development expenditure 5,169 4,566
BMW Group
Notes to the Group Financial Statements
Notes to the Income Statement
9
10
Revenues
Revenues by activity comprise the following:
An analysis of revenues by segment and geographical region is shown in the segment information in note 49.
11
Cost of sales
Cost of sales comprises:
Group cost of sales include € 19,449 million (2014:
€ 16,485 million) relating to Financial Services business.
Manufacturing costs include impairment losses on
intangible assets and property, plant and equipment
totalling € 3 million (2014: € – million). Cost of sales
is reduced by public-sector subsidies in the form of
reduced taxes on assets and reduced consumption-
Selling and administrative expenses
Selling expenses amounted to € 5,758 million (2014:
€ 5,344 million) and comprise mainly marketing, adver-
tising and sales personnel costs.
based taxes amounting to € 71 million (2014: € 54 mil-
lion).
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 € 2,875 million
(2014: € 2,548 million) and comprise expenses for
administration not attributable to development, pro-
duction or sales functions.