Porsche 2012 Annual Report Download - page 209

Due to the contribution of subsidiaries of Porsche SE and the resulting deconsolidation,
financial liabilities of €300 million had to be recognized in the consolidated financial statements
of Porsche SE that were previously eliminated in the course of consolidation measures. They are
now recognized in financial liabilities to associates.
As part of the contribution of the holding business operations of Porsche SE to Volkswagen
AG, financial liabilities with a carrying amount of €3,880 million due to joint ventures were also
transferred. Financial liabilities to joint ventures are due to companies in the Porsche Holding
Stuttgart GmbH group. These are counterbalanced by other loan receivables of €4,016 million
that were presented as other receivables and assets until the contribution.
[20] Non-current and current other liabilities
As of the reporting date, other liabilities break down as follows:
In the course of the contribution of the holding business operations of Porsche SE to
Volkswagen AG, the call option of Volkswagen AG on the shares in Porsche Holding Stuttgart
GmbH remaining at Porsche SE until the contribution of the holding business operations, which
had a carrying amount of €4,682 million and was previously presented as non-current, was
derecognized. Reference is made to the section "Consolidated group".
€ million 31/12/2012 31/12/2011
Derivative financial instruments 0 5,087
Liabilities to associates 503 0
Sundry other liabilities 1 150
504 5,237
thereof non-current 0 5,087
thereof current 504 150
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