BMW 2015 Annual Report Download - page 124

124
in € million 31. 12. 2015 31. 12. 2014
Total of future minimum lease payments
due within one year 22 13
due between one and five years 69 53
due later than five years 99 53
190 119
Interest portion of the future minimum lease payments
due within one year 10 8
due between one and five years 32 25
due later than five years 27 12
69 45
Present value of future minimum lease payments
due within one year 12 5
due between one and five years 37 28
due later than five years 72 41
121 74
22
23
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 € 48 million (2014: € 46 million), which is
allocated to the Automotive segment and is not sub-
ject to scheduled depreciation since its useful life is
deemed to be indefinite. The year-on-year change is due
entirely to currency factors. This line item also includes
goodwill of € 33 million (2014: € 33 million) allocated to
the Automotive cash-generating unit (CGU) and good-
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
note 21.
An impairment loss of € 3 million (2014: € – million) was
recognised on plant and machinery in the Automotive
segment in 2015.
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
€ 110 million (2014: € 67 million) relating to land and
operational buildings, for which economic owner-
will of € 331 million (2014: € 331 million) allocated to
the
Financial Services CGU.
Intangible assets amounting to € 48 million (2014:
€ 46 million) are subject to restrictions on title.
As in the previous year, there was no requirement to
recognise impairment losses or reversals of impairment
losses on intangible assets in 2015.
No borrowing costs were recognised as a cost compo-
nent of intangible assets during the year under report.
An analysis of changes in intangible assets is provided
in note 21.
ship is attributable to the BMW Group due to the na-
ture of the lease arrangements (finance leases). Leases
to which BMW AG is party, with a carrying amount
of € 102 million (2014: € 64 million), run for periods up
to 2030 at the latest and contain price adjustment
clauses in the form of index-linked rentals as well as
extension and purchase options. Assets leased by
BMW Tokyo Corp., Tokyo, with a carrying amount of
€ 7 million (2014: € 2 million), have remaining terms
up to 2039 at the latest. BMW Osaka Corp., Osaka, is
party to a finance lease running until 2022 for an opera-
tional
building with a carrying amount of € 1 million at
the end of the reporting period (2014: € 1 million).
Minimum lease payments of the relevant leases are as
follows:
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
113 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122
Notes to the Balance Sheet
147 Other Disclosures
163 Segment Information