BMW 2015 Annual Report Download - page 119

119 GROUP FINANCIAL STATEMENTS
19
Share-based remuneration
The BMW Group operates three share-based remunera-
tion programmes, namely the Employee Share Pro-
gramme (for entitled employees), share-based com-
mitments to members of the Board of Management
and
share-based commitments to senior heads of de-
partment.
In the case of the Employee Share Programme, non-
voting shares of preferred stock in BMW AG were
granted to qualifying employees during the financial
year 2015 at favourable conditions (see note 34 for the
number and price of issued shares). The holding pe-
riod
for these shares is up to 31 December 2018. The
BMW Group recorded a personnel expense of € 6 mil-
lion (2014: € 6 million) for the Employee Share
Pro-
Fee expense
The fee expense pursuant to § 314 (1) no. 9 HGB recog-
nised in the financial year 2015 for the Group auditor
The total fee comprises expenses recorded by BMW AG,
Munich, and all consolidated subsidiaries.
The fee expense shown for KPMG AG Wirtschafts-
prüfungsgesellschaft, Berlin, relates only to services
provided on behalf of BMW AG, Munich, and its
German subsidiaries.
Government grants and government assistance
Income from asset-related and performance-related
grants, amounting to € 33 million (2014: € 30 million)
gramme in 2015, corresponding to the difference between
the market price and the reduced price of the shares of
preferred stock purchased by employees. The Board of
Management reserves the right to decide anew each year
with respect to an Employee Share Programme.
For financial years beginning after 1 January 2011,
BMW AG has added a share-based remuneration com-
ponent to the existing compensation system for Board
of Management members.
Each Board of Management member is required to invest
20 % of his / her total bonus (after tax) in shares of BMW AG
common stock, which are recorded in a separate custodian
account for each member concerned (annual tranche).
Each annual tranche is subject to a holding period of
and its network of audit firms amounted to € 23 mil-
lion (2014: € 23 million) and consists of the following:
and € 132 million (2014: € 73 million) respectively, were
recognised in the income statement in 2015.
A large part of these amount to public sector grants for
the promotion of regional structures and to subsidies
for plant expansion.
in € million 2015 2014
Audit of financial statements 15 15
thereof KPMG AG Wirtschaftsprüfungsgesellschaft 4 3
Other attestation services 4 2
thereof KPMG AG Wirtschaftsprüfungsgesellschaft 2 1
Tax advisory services 3 4
thereof KPMG AG Wirtschaftsprüfungsgesellschaft – 1
Other services 1 2
thereof KPMG AG Wirtschaftsprüfungsgesellschaft 1 1
Fee expense 23 23
thereof KPMG AG Wirtschaftsprüfungsgesellschaft 7 6