Mercedes 2004 Annual Report Download - page 21

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17
18 Business and General Conditions
18 The company
20 The economic situation
21 Business developments
23 Profitability
23 Operating profit
26 Reconciliation of operating profit to
income before financial income
28 Financial income
28 Income taxes
28 Net income
29 Dividend
29 Value-Based Performance Measures
29 Management and control tools
30 Development of return on net assets
31 Liquidity and Capital Resources
31 Cash flow
32 Refinancing
33 Rating
34 Financial Position
34 Consolidated balance sheet
35 Financing of pensions and similar obligations
36 Factor Input
36 Capital expenditure
36 Research and development
37 Procurement
37 The Workforce
38 Events after the End of the 2004 Financial Year
38 Risk Report
38 Risk management
39 Economic risks
40 Industry- and company-specific risks
41 Foreign exchange rate, interest rate, equity price
and commodity price risk
43 Legal risks
43 Overall risk
44 Outlook
44 The world economy
44 Automobile markets
44 DaimlerChrysler’s divisions
46 The DaimlerChrysler Group
46 Capital expenditure
47 Research and development
47 The workforce