BMW 2002 Annual Report Download - page 69
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001 BMW Group in figures
004 Report of the Supervisory Board
008 Supervisory Board
011 Board of Management
012 Group Management Report
031 BMW Stock
034 Corporate Governance
042 Group Financial Statements
106 BMW AG Financial Statements
112 BMW Group Annual Comparison
114 BMW Group Locations
116 Glossary
120 Index
68
Sales costs amount to euro 4,331 million (2001:
euro 4,104 million).These comprise mainly market-
ing, advertising, sales personnel, outward freight
and
group communication costs.
Research and development costs of euro 2,011 mil-
lion (2001: euro 1,663 million) comprise all research
costs and development costs not recognised as
Administrative costs amount to euro 572 million
(2001: euro 543 million). These comprise the costs
of centralised departments which are not attributable
to production or sales functions.
assets as well as amortisation and disposals of
capitalised development costs of euro 536 million
(2001: euro 443 million).
[10]Sales and
administrative costs
[11]Research and
development costs
The use of the percentage of completion method
has been discontinued from the beginning of 2002
since the effect on the income statement is not ma-
terial. In the previous year, revenues of euro 61 million
were recognised on services and customer-specific
Cost of sales in the financial year 2002 do not in-
clude any impairment losses (2001: euro 26 million).
Interest expense on refinancing the entire financial
services business of euro1,012 million (2001: euro
production contracts in conjunction with long-term
contracts in progress. The aggregate amount of
profits recognised in the previous year on long-term
contracts in progress amounted to euro 16 million
and accumulated costs of euro 40 million.
1,162 million) is included in cost of sales. In addition,
public sector subsidies in the form of reduced taxes
on assets and consumption-based taxes amounted
to
euro18 million (2001: euro million).
[9]Cost of sales
in euro million 2002 2001
Sales of products and related goods 34,603 31,222
Income from lease instalments 2,610 2,505
Sale of products previously leased to customers 3,320 2,851
Interest income on loan financing 1,264 1,277
Other income 485 608
42,282 38,463
[8]Revenues An analysis of revenues by business segment and
geographical region is shown in the segment infor-
mation on pages 98 to 101. Revenues by activity
comprise the following:
BMW Group
Notes to the Group Financial Statements
Notes to the Income Statement