Mercedes 2009 Annual Report Download - page 195

Consolidated Financial Statements |Notes to Consolidated Financial Statements |191
Net profit (loss) from discontinued operations for the years 2008
and 2007 is comprised as follows:
Net loss from discontinued operations for 2007 includes charges
of €906 million before income taxes in connection with Chrysler’s
Recovery and Transformation Plan, which was announced on
February 14, 2007.
An extinguishment loss of €0.5 billion (net of tax €0.3 billion)
resulting from the early redemption of long-term debt of Chrysler
is included in net profit (loss) from discontinued operations in
2007.
The cash flows of 2007 attributable to discontinued operations
are as follows:
For further information on Chrysler, see also Note 12.
Potsdamer Platz. On December 13, 2007, the Supervisory Board
of Daimler AG approved the sale of real-estate properties at
Potsdamer Platz to the SEB Group. The transaction, which closed
on February 1, 2008, resulted in a cash inflow of €1.4 billion
(thereof €0.1 billion included in 2007). The transaction had a pos-
itive effect on 2008 EBIT of €449 million. The pre-tax gain is
recognized in other operating income in the 2007 consolidated
statement of income and is included in the 2007 reconciliation
from total segments’ EBIT to Group EBIT in the segment reporting.
At the same time, the Group entered into leases for approxi-
mately half of the sold office space with a non-cancelable lease
period ending December 31, 2012. At the end of the non-cance-
lable lease terms, there are two renewal options for five years each.
MFTBC. In 2007, Mitsubishi Fuso Truck and Bus Corporation
(MFTBC) sold a number of real estate properties to Nippon Indus-
trial TMK for approximately €1 billion in cash. At the same time,
MFTBC entered into a leaseback arrangement for each of the
properties sold with non-cancelable lease periods of fifteen years.
At the end of the non-cancelable lease terms, there are renewal
options for up to fifteen years. As a result of this transaction,
MFTBC derecognized assets with a carrying amount of €865
million. After considering the costs of the transaction, Daimler
recorded a gain of €78 million before income taxes on assets
sold and leased back under the terms of an operating lease. In
addition, the Group recorded assets sold and leased back under
the terms of finance leases with a corresponding amount of debt
of €110 million and deferred the recognition of the excess of
the purchase price over the carrying amount of the assets sold of
€46 million, which will be recognized over the lease term. The
pre-tax gain recorded is included in other operating income in the
2007 consolidated statement of income and was allocated to
the Daimler Trucks segment.
Other sales of real estate property. In 2007, Daimler AG sold
its 50% equity interest in Wohnstätten Sindelfingen GmbH for
a sales price of €82 million. The sale resulted in a gain of €73
million before income taxes. The pre-tax gain is included in other
financial income (expense), net, in the 2007 consolidated state-
ment of income and is included in the 2007 reconciliation from
total segments’ EBIT to Group EBIT in the segment reporting.
EADS. For information on the disposal of equity interests in the
European Aeronautic Defence and Space Company EADS N.V.
(EADS), please see Note 12.
20072008
in millions of €
–
–
–
–
–
–
–
–
–
(383)
93
(290)
(290)
30,037
(26,410)
(1,579)
(1,172)
(647)
(714)
(485)
368
(117)
(658)
(95)
(753)
(870)
Revenue
Cost of sales
Selling expenses
General administrative expenses
Research and non-capitalized development costs
Other income and other expenses
Profit (loss) before income taxes
Income taxes
Profit (loss) of Chrysler activities, net of taxes1
Loss from deconsolidation before income taxes
Income taxes
Loss from deconsolidation, net of taxes
Net profit (loss) from discontinued operations
1 In 2007, income and expenses of the Chrysler activities relate to the period from January 1 to
August 3, 2007.
in millions of €
1,593
(1,404)
(2,655)
Cash flow from operating activities
Cash flow from investing activities
Cash flow from financing activities