Mercedes 1998 Annual Report Download - page 86

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7. FINANCIAL INCOME, NET
19971998
Year ended December 31,
Income (loss) from investments (111) 66 217
of which from affiliated companies € (20)
(1997: € 17; 1996: € 20)
Gains (losses), net from disposals of
investments and shares in affiliated and
associated companies 37 459 (9)
Write-down of investments
and shares in affiliated companies (55) (76) (55)
Income (loss) from companies
included at equity 59 36 (68)
Income (loss) from investments, net (70) 485 85
Other interest and similiar income 1,409 1,595 1,161
of which from affiliated companies
€ 13 (1997: € 10; 1996: € 12)
Interest and similiar expenses (702) (640) (581)
Interest income, net 707 955 580
Income from securities and
long-term receivables 17 16 9
Gains from sales of securities 132 85 57
Write-down of securities and
long-term receivables (10) (10) (3)
Realized and unrealized gains (losses)
on financial instruments 145 (794) (390)
Other, net (158) (104) 70
Other financial income (loss), net 126 (807) (257)
763 633 408
1996
The Group capitalized interest expenses related to qualifying
construction projects of € 186 (1997: € 207; 1996: € 145).
8. INCOME TAXES
Year ended December 31,
Income before income taxes, extraordinary items and minority
interests amounted to € 8,154 (1997: € 6,180; 1996: € 5,693), of
which € 2,229 was generated by the Group’s operations in
Germany (1997: € 1,450; 1996: € 594).
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
82
1998 1997 1996
The provision (benefit) for income taxes consists of the
following:
Current taxes
Germany (267) (1,472) 207
Foreign 1,383 1,695 1,228
Deferred taxes
Germany 967 (910) (654)
Foreign 992 205 766
3,075 (482) 1,547