Mercedes 2001 Annual Report Download - page 117

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Other Notes 113
Delinquencies
> 60 days at
Outstanding
balance at
Net credit losses
for the year ended
Retail receivables
Wholesale receivables
Total receivables managed
Less: receivables sold
Receivables held in portfolio
2001 2000 2001 2000 2001 2000
58,224 46,377 584 232 691 576
17,448 17, 747 24 19 18 2
75,672 64,124 608 251 709 578
(42,763) (37,904) (182) (117) (310) (251)
32,909 26,220 426 134 399 327
Prepayment speed
assumption (monthly
rate)
Estimated remaining
lifetime net credit
losses (an average
percentage of sold
receivables)
Residual cash flows
discount rate (annual
rate)
WholesaleRetail
1.0-1.5% 1.0-1.5% *) *)
2.4% 1.2% 0.0% 0.0%
12.0% 12.0% 10.0% 10.0%
2000 2001 20002001
*)For the calculation of wholesale gains, the Group
estimated the average wholesale loan liquidated in 210 days.
The outstanding balance, delinquencies and net
credit losses of sold receivables and other receivables,
of those financial services businesses that sell receiv-
ables, as of and for the years ended December 31, 2001
and 2000, respectively, were as follows:
During the year ended December 31, 2001,
DaimlerChrysler sold €19,290 million (2000: €17,122
million) and €57,372 million (2000: €38,778 million)
retail and wholesale receivables, respectively. From
these transactions, the Group recognized gains of €414
million (2000: €181 million) and €182 million
(2000: €156 million) on sales of retail and wholesale
receivables, respectively.
Significant assumptions used in measuring the
residual interest resulting from the sale of retail and
wholesale receivables, were as follows (weighted aver-
age rates for securitizations completed during the year)
at December 31, 2001 and 2000:
ties segment. In January 2001, DaimlerChrysler com-
bined the operations of MTU/Diesel Engines, which
was previously part of the Other Activities segment,
with the Mercedes-Benz powertrain business in a new
Powersystems business unit within Commercial Ve-
hicles segment. DaimlerChrysler has reclassified prior
period amounts to conform its segment presentation to
the new structure. Information with respect to the
Group’s industry segments follows:
Mercedes-Benz Passenger Cars & smart. This seg-
ment includes activities related mainly to the develop-
ment, manufacture and sale of passenger cars and off-
road vehicles under the brand names Mercedes-Benz
and smart as well as related parts and accessories.
Chrysler Group. This segment includes the re-
search, design, manufacture, assembly and sale of cars
and trucks under the brand names Chrysler, Jeep® and
Dodge and related automotive parts and accessories.
Commercial Vehicles. This segment is involved in
the development, manufacture and sale of vans, trucks,
buses and Unimogs as well as related parts and acces-
sories. The products are sold mainly under the brand
names Mercedes-Benz and Freightliner.
Services. The activities in this segment extend to
the marketing of services related to financial services
(principally retail and lease financing for vehicles and
dealer financing), insurance brokerage, trading and in-
formation technology. In October 2000, the information
technology activities were contributed into a joint
venture. The Group’s 49.9% interest in T-Systems ITS
is included at equity subsequent to that date. For the
exercise in January 2002 of DaimlerChrysler’s option
to sell its interest, see Note 34.
Other Activities. Represents principally the indus-
trial businesses including MTU Aero Engines and the
Group’s equity method investments in MMC, EADS and
Automotive Electronics. Other Activities also contains
corporate research, real estate activities and holding
and financing companies.
32. Segment Reporting
In 2001, DaimlerChrysler reorganized some of its busi-
ness segments resulting in changes in the composition
of its reportable segments. Following the exchange in
July 2000 of the Group’s controlling interest in
DaimlerChrysler Aerospace for a non-controlling equity
method interest in EADS, DaimlerChrysler transferred
the remaining businesses of the former Aerospace seg-
ment and the investment in EADS to the Other Activi-