Mercedes 2003 Annual Report Download - page 143
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Please find page 143 of the 2003 Mercedes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.DaimlerChrysler’s other intangible assets subject to amortization
represent concessions, industrial property rights and similar rights
(€188 million) as well as software (€121 million). The additions in
2003 of €178 million (2002: €175 million) with a weighted average
useful life of 4 years primarily include software. Distribution rights
amounting to €44 million were reclassified from goodwill to other
intangible assets on January 1, 2002. The aggregate amortization
expense for the years ended December 2003, 2002 and 2001, was
€178 million, €175 million and €172 million, respectively.
Amortization expense for the gross carrying amount of other
intangible assets at December 31, 2003, is estimated to be €131
million in 2004, €88 million in 2005, €51 million in 2006, €24 million
in 2007 and €8 million in 2008.
Other intangible assets not subject to amortization represent
intangible pension assets.
14. Property, Plant and Equipment, net
Information with respect to changes in the Group’s property,
plant and equipment is presented in the Consolidated Fixed Assets
Schedule included herein.
Property, plant and equipment includes buildings, technical
equipment and other equipment capitalized under capital lease
agreements of €195 million (2002: €152 million). Depreciation
expense and impairment charges on assets under capital lease
arrangements were €19 million (2002: €15 million; 2001: €13
million).
Future minimum lease payments due from property, plant and
equipment under capital leases at December 31, 2003 amounted
to €393 million and are as follows:
15. Equipment on Operating Leases, net
Information with respect to changes in the Group’s equipment on
operating leases is presented in the Consolidated Fixed Assets
Schedule included herein. Of the total equipment on operating
leases, €23,653 million represent automobiles and commercial
vehicles (2002: €27,361 million).
Noncancellable future lease payments due from customers for
equipment on operating leases at December 31, 2003 amounted to
€11,499 million and are as follows:
16. Inventories
Certain of the Group’s U.S. inventories are valued using the LIFO
method. If the FIFO method had been used instead of the LIFO
method, inventories would have been higher by €614 million (2002:
€724 million). For the years ended December 31, 2003, 2002 and
2001, inventory quantities were reduced, which resulted in a liqui-
dation of LIFO inventory carried at lower costs which prevailed in
prior years. The effect of the liquidation was to decrease cost of
sales by €9 million, €42 million and €29 million in 2003, 2002 and
2001, respectively.
17. Trade Receivables
(in millions of €)
226
there-
after
20082007200620052004
3131353634
Future minimum
lease payments
(in millions of €)
153
there-
after
20082007200620052004
1674471,6433,254
5,835
Future lease
payments
(in millions of €)
At December 31,
1,569
2,280
11,350
59
15,258
(310)
14,948
2003 2002
1,900
2,693
11,567
63
16,223
(581)
15,642
Raw materials and manufacturing supplies
Work-in-process
Finished goods, parts and products held for resale
Advance payments to suppliers
Less: Advance payments received
thereof relating to long-term contracts and programs
in process €70 (2002: €127)
(in millions of €)
At December 31,
6,617
51
6,668
(587)
6,081
2003 2002
6,879
47
6,926
(629)
6,297
Receivables from sales of goods and services
Long-term contracts and programs, unbilled,
net of advance payments received
Allowance for doubtful accounts
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