Mercedes 1999 Annual Report Download - page 95

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(in millions of €, except per share amounts)
NOTES TO THE CONSOLIDATED BALANCE SHEETS
NOTES TO THE CONSOLIDATED BALANCE SHEETS
10. INTANGIBLE ASSETS AND PROPERTY, PLANT AND
EQUIPMENT, NET
Information with respect to changes in the Group’s intangible as-
sets and property, plant and equipment is presented in the Con-
solidated Fixed Assets Schedule included herein. Intangible assets
represent principally goodwill and intangible pension assets.
Property, plant and equipment includes buildings, technical equip-
ment and other equipment capitalized under capital lease agree-
ments of €368 (1998: €394). Depreciation expense on assets under
capital lease arrangements was €32 (1998: €38; 1997: €29).
11. EQUIPMENT ON OPERATING LEASES, NET
Information with respect to changes in the Group’s equipment on
operating leases is presented in the Consolidated Fixed Assets
Schedule included herein. Of the total equipment on operating
leases, €26,409 represent automobiles and commercial vehicles
(1998: €14,078).
Noncancellable future lease payments due from customers for
equipment on operating leases at December 31, 1999 are as fol-
lows:
12. INVENTORIES
1998
At December 31,
Raw materials and manufacturing supplies
Work-in-process
thereof relating to long-term contracts
and programs in process €2,000 (1998: €919)
Finished goods, parts and products
held for resale
Advance payments to suppliers
Less: Advance payments received
thereof relating to long-term contracts
and programs in process €1,166 (1998: €578)
2,602 2,278
6,285 4,568
9,887 7,631
518 312
19,292 14,789
(4,307) (2,993)
14,985 11,796
1999
Certain of the Group’s U.S. inventories are valued using the LIFO
method. If the FIFO method had been used instead of the LIFO
method, inventories would have been higher by €691 (1998: €549).
13. TRADE RECEIVABLES
1998
At December 31,
Receivable from sales of goods and services
Long-term contracts and programs, unbilled,
net of advance payments received
Allowance for doubtful accounts
8,859 8,020
779 442
9,638 8,462
(798) (857)
8,840 7,605
1999
As of December 31, 1999, €469 of the trade receivables mature aft-
er more than one year (1998: €399).
89
2000
2001
2002
2003
2004
thereafter
4,939
3,956
2,102
459
178
187
11,821