Mercedes 2012 Annual Report Download - page 272

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Fair value. The amount for which an asset or liability could
be exchanged in an arm’s length transaction between knowledge-
able and willing parties who are independent of each other.
Goodwill. Goodwill represents the excess of the cost of an
acquired business over the fair values assigned to the separately
identifiable assets acquired and liabilities assumed.
Hybrid drive. Hybrid drive systems combine internal-
combustion engines with electric motors, which can
be operated separately or together depending on the type
of vehicle and driving situation.
IFRS – International Financial Reporting Standards. The
IFRS are a set of standards and interpretations for companies’
external accounting and financial reporting developed by
an independent private-sector committee, the International
Accounting Standards Board (IASB).
Integrity. Integrity is a matter of one’s inner attitude and basic
values, according to which one’s actions are oriented. It means
behaving towards others in a fair, open and friendly way, and
doing the right thing out of conviction. Behaving with integrity
necessitates adherence to rules as well as calibrating one’s
actions against one’s inner attitude.
Integrity Code. The new “Integrity Code” has been in effect
since November 2012. It defines the principles of behavior and
guidelines for everyday conduct that are applicable at Daimler.
Fairness, responsibility and compliance with legislation are key
principles in this context.
Lithium-ion batteries. They are at the heart of future electric
drive systems. Compared with conventional batteries, lithium-
ion batteries are considerably smaller and feature significantly
higher power density, short charging times and long lives.
Net assets. Net assets represent the capital employed
by the Group and the industrial divisions. The relevant capital
basis for Daimler Financial Services is equity capital.
E see pages 95 f
NEDC – New European Driving Cycle. A measuring method
used in Europe for the objective assessment of vehicles’
fuel consumption.
Glossary
BlueEFFICIENCY. Efficiency packages for saving fuel.
They include measures taken inside engines, bodywork
weight reductions, tires with low roll resistance, aerodynamic
improvements, the ECO start-stop function etc. As a
result, fuel consumption can be reduced by more than 20%.
BLUETEC. A combination of inner-engine measures to reduce
emissions and the treatment of exhaust gases. It improves
diesel engines’ efficiency for cars and commercial vehicles by
optimizing their combustion, and reduces their emissions
with SCR catalysts.
BRIC. This abbreviation stands for the four countries of Brazil,
Russia, India and China.
Compliance. By the term compliance, we understand adher-
ence to all laws, rules, regulations and voluntary commitments,
as well as the related internal policies and guidelines of the
Daimler Group.
Consolidated Group. The consolidated Group is the total
of all those companies that are included in the consolidated
financial statements.
Corporate governance. The term corporate governance
applies to the proper management and supervision of a
company. The structure of corporate governance at Daimler AG
is determined by Germany’s Stock Corporation Act (AktG),
Codetermination Act (MitbestG) and capital-market legislation.
Cost of capital. The cost of capital is the product of the
average amount of capital employed and the cost-of-capital
rate. The cost-of-capital rate is derived from the investors’
required rate of return. E see pages 95 f
CSR – corporate social responsibility. A collective term
for the social responsibility assumed by companies, including
economic, environmental and social aspects.
EBIT. Earnings before interest and taxes are the measure
of operating profit before taxes. E see pages 92 f
Equity method. Accounting and valuation method for
share holdings in associated companies and joint ventures,
as well as for subsidiaries that are not fully consolidated.