Porsche 2009 Annual Report Download - page 198
Download and view the complete annual report
Please find page 198 of the 2009 Porsche annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188 -
189 -
190 -
191 -
192 -
193 -
194 -
195 -
196 -
197 -
198 -
199 -
200 -
201 -
202 -
203 -
204 -
205 -
206 -
207 -
208 -
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
-
249
-
250
-
251
-
252
-
253
-
254
-
255
-
256
-
257
-
258
-
259
-
260
-
261
-
262
-
263
-
264
-
265
-
266
-
267
-
268
-
269
-
270
-
271
-
272
-
273
-
274
-
275
 |
 |
198 Financials
[21] Non-current and current other receivables and assets
31/7/2010 31/7/2009
thereof
€ million
continuing
operations
Derivative financial instruments 311 4,567 770
Other receivables and assets from
affiliated companies 0 183 0
joint ventures 4,019 1,704 0
associates 0 20 0
other investees and investors 0 1 0
Non-income tax assets 0 1,187 0
Sundry receivables and assets 2 3,477 1
Prepaid expenses 1 351 1
Valuation allowance 0 – 176 0
4,333 11,314 772
thereof non-current 4,319 3,495 0
thereof current 14 7,819 772
Receivables of continuing operations from joint ventures are due from companies in the
Porsche Zwischenholding GmbH group. These receivables are counterbalanced by financial liabilities
to these companies of €3,880 million (prior year: €0 million).
Porsche Zwischenholding GmbH has a lien on a loan due from itself amounting to €2,703
million (prior year: €0 million). This lien serves as collateral on a liability of the same amount due
from Porsche SE to Porsche Zwischenholding GmbH and is presented within financial liabilities to
joint ventures. Porsche Zwischenholding GmbH may exercise its right of lien if Porsche SE falls
behind with payments as they fall due for the secured liability to Porsche Zwischenholding GmbH.
Offsetting is not permitted during the term of the loan; permission to offset can be given
when the loan falls due for repayment. Volkswagen AG will assume the loan obligations of this com-
pany due to Porsche SE in the event of insolvency of Porsche Zwischenholding GmbH provided it
would have been possible to offset the obligations against claims against Porsche SE had the com-
pany not become insolvent.