Mercedes 2008 Annual Report Download - page 176
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172
The following table presents summarized IFRS financial infor-
mation for Chrysler, which was the basis for applying the equity
method in the Group’s consolidated financial statements:
The rights retained by the Group that are contingent upon the
residual values of leased vehicles and certain other events were
impaired in 2008 because of an expected decline in the fair
value of the financial asset.
Due to the significant financial difficulties at Chrysler in the
fourth quarter of 2008, the Group determined that objective
evidence existed that the carrying amount of loans and receiv-
ables due from Chrysler and certain other assets was impaired.
In 2008, total impairments of €1.8 billion were recognized and
primarily recorded in “Other financial income (expense), net.”
13. Receivables from financial services
Receivables from financial services are comprised of the
following:
At December 31, 2007
Total
Non-currentCurrent
At December 31, 2008
TotalNon-currentCurrent
33,292
7,141
2,888
43,321
(934)
42,387
21,759
1,054
2,793
25,606
(603)
25,003
11,533
6,087
95
17,715
(331)
17,384
29,732
6,422
3,653
39,807
(594)
39,213
19,153
544
3,559
23,256
(323)
22,933
10,579
5,878
94
16,551
(271)
16,280
Receivables from
Retail
Wholesale
Other
Gross carrying amount
Allowance for doubtful accounts
Carrying amount, net
in millions of €
90,427
2,677
87,750
7,967
(1,942)
2008
48,442
(6,541)
in millions of €
81,506
(3,430)
84,936
Income statement information 1
Sales
Net profit (loss)
Balance sheet information 2
Total assets
Equity
Liabilities
1 Figures for the period from October 1, 2007 to September 30, 2008 and for the period from
August 4 to September 30, 2007, in both years adjusted for significant transactions and events
during fourth quarter.
2 Figures as of the balance sheet date September 30, in both years adjusted for significant transac-
tions and events during fourth quarter.
2007