Mercedes 2008 Annual Report Download - page 212

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Mercedes-Benz Cars. In 2008, as a result of the reassessment
of residual values of leased vehicles, the Group recorded impair-
ment charges of €465 million. In addition, an amendment of
a defined benefit plan resulted in past service income of €84 mil-
lion, which is included in the segment’s 2008 EBIT.
The immediate recognition of provisions for the incremental
benefit payments under early retirement agreements concluded
in 2006 resulted in pre-tax charges of €216 million.
Associated with the decisions to terminate the production of
the smart forfour and to realign the business model for smart,
EBIT of Mercedes-Benz Cars for 2006 includes charges of
€946 million. From the charges incurred in 2006, €127 million
were attributable to impairment losses and €819 million
were attributable to payments already made (see also Note 4).
In 2006, EBIT of Mercedes-Benz Cars includes charges of €286
million for the headcount reduction initiative at Mercedes-Benz
Cars. Associated with headcount reduction measures, payments
of €783 million were made in 2006 (see also Note 4).
Daimler Trucks. In 2008, the segment’s EBIT includes expenses
of €233 million associated with the decision to optimize and
reposition the business operations of Daimler Trucks North
America. From this amount, €32 million relate to non-cash impair-
ment charges and write downs (see also Note 4). In addition,
an amendment of a defined benefit plan resulted in past service
income of €29 million in 2008.
In December 2008, Daimler acquired a 10% stake in the Russian
commercial vehicle manufacturer Kamaz. The Group accounts
for its equity interest in Kamaz using the equity method and allo-
cates the proportionate share in the results to the Daimler
Trucks segment (see also Note 2). The equity investment amount-
ed to €168 million as of December 31, 2008.
In 2007, EBIT was positively impacted by a gain of €78 million from
the disposal of real-estate properties (see Note 2). Furthermore,
changes to existing pension plans at MFTBC resulted in a curtail-
ment gain of €86 million in 2007.
In 2006, EBIT was negatively affected by an increase in future
health care benefits and the corresponding increase of provisions
for post-employment benefit obligations (€161 million), and by
the immediate recognition of provisions for incremental benefit
payments under early retirement agreements concluded in 2006
(€134 million).
Daimler Financial Services. In 2008, capital expenditure for
non-inventory related equipment on operating leases amounts to
€5,390 million (2007: €6,093 million; 2006: €6,955 million)
and related depreciation charges amount to €2,465 million (2007:
€2,283 million; 2006: €2,453 million).
2006
Revenue
Intersegment revenue
Total revenue
Segment profit (loss) (EBIT)
Segment assets
Segment liabilities
Capital expenditures
Thereof investments in property, plant and
equipment
Depreciation and amortization
ConsolidatedReconciliation
Total
Segments
Vans, Buses,
Other
Daimler
Financial
Services
Daimler
Trucks
Mercedes-Benz
Cars
50,219
1,191
51, 410
1,783
28,323
21,365
2,303
1,698
2,719
29,061
2,728
31,789
1,851
16,281
9,734
1,202
912
841
7,529
577
8,106
807
60,650
56,505
29
17
30
12,413
738
13,151
1,327
13,998
5,318
395
378
615
99,222
5,234
104,456
5,768
119,252
92,922
3,929
3,005
4,205
–
(5,234)
(5,234)
(776)
98,382
87,366
3,267
2,869
2,964
99,222
–
99,222
4,992
217,634
180,288
7,196
5,874
7,169
in millions of €
7,64 2
635
8,277
113
5,069
3,498
269
261
486
thereof
Mercedes-Benz
Vans