Mercedes 2008 Annual Report Download - page 213

Consolidated Financial Statements |Notes to Consolidated Financial Statements |209
Vans, Buses, Other. EBIT of Vans, Buses, Other includes
the Group’s share in the net profit (loss) of EADS of €177 million
(2007: €13 million; 2006: €(193) million). In addition, EBIT com-
prises gains related to the transfer of portions of the Group’s
equity interest in EADS (2008: €130 million; 2007: €1,573
million; 2006: €519 million). The equity investment in EADS includ-
ed in segment assets amounts to €2,886 million in 2008 (2007:
€3,442 million; 2006: €4,371 million). For further information, see
also Note 12.
In addition, EBIT of Vans, Buses, Other includes the Group’s share
in the net loss of Chrysler Holding LLC of €1,390 million in 2008
(2007: €377 million). These losses reduced the carrying amount
of the Group’s equity investment to zero (carrying amount includ-
ed in segment assets at December 31, 2007: €916 million).
In 2008, the Group acquired an aggregate 28.4% stake in Tognum.
The Group accounts for its equity interest in Tognum using
the equity method and allocates the proportionate results to
Vans, Buses, Other (see also Note 2). The equity investment
in Tognum amounted to €706 million as of December 31, 2008.
The proportionate share in the profit (loss) of Tognum was
insignificant in 2008.
Reconciliations. Reconciliations of the total segment
measures to respective items included in financial statements
are as follows:
The reconciliation includes items that by definition are not part
of the segments. In addition, the reconciliation includes corporate
items that are not allocated, for example items for which head-
quarters are responsible. Transactions between the segments are
eliminated in the context of consolidation and the eliminated
amounts are included in the reconciliation.
The assets and liabilities of the Chrysler activities are derived
under the same definitions as for the segments.
For 2007 and 2006, the reconciliation to Group capital expendi-
tures also includes expenditures of Chrysler activities of €1,511
million and €3,267 million, respectively. Of these amounts, €1,320
million and €2,869 million, respectively, refer to investment in
property, plant and equipment in those years.
Also included in the reconciliation to consolidated totals for
depreciation and amortization for the years 2007 and 2006 are
depreciation and amortization of Chrysler activities of €1,130
million and €2,964 million, respectively.
In 2007 and 2006, capital expenditure for non-inventory related
equipment on operating lease of the Chrysler activities amounted
to €5,138 million and €8,786 million, respectively. Related depre-
ciation charges in those years amounted to €1,486 million and
€3,297 million, respectively.
2006
20072008
98,821
–
(81)
9,998
(9,243)
99,495
131,115
–
3,110
7,975
(9,981)
132,219
3,162
(442)
10
2,730
65
2,795
5,768
(847)
71
4,992
(90)
4,902
119,252
86,889
5,436
13,518
(7,461)
217,634
92,922
74,424
(2,151)
21,772
(6,679)
180,288
9,460
(785)
35
8,710
471
9,181
123,089
–
1,940
18,119
(8,054)
135,094
94,691
–
(218)
9,546
(7,155)
96,864
Total segments’ profit (EBIT)
Corporate items
Eliminations
Group EBIT
Interest income (expense), net
Profit before income taxes
Total segments’ assets
Assets of Chrysler activities
Income tax assets
Unallocated financial assets
(including liquidity) and assets
from defined benefit plans
Other corporate items
and eliminations
Group assets
Total segments’ liabilities
Liabilities of Chrysler activities
Income tax liabilities
Unallocated financial liabilities and
liabilities from defined benefit plans
Other corporate items
and eliminations
Group liabilities
in millions of €