Porsche 2003 Annual Report Download - page 124
Download and view the complete annual report
Please find page 124 of the 2003 Porsche annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135
-
136
-
137
-
138
-
139
-
140
 |
 |
Financial Statements 2003 ⁄ 04
Notes to the Financial Statements of the Consolidated Porsche Group
and Dr. Ing. h.c. F. Porsche AG as of July 31, 2004
120
The provisions for pensions primarily reflect future liabilities
for retirement benefits for the employees of Porsche AG.
Pension obligations are fully covered by provisions.
Provisions for taxes include amounts for this fiscal year and
provisions for prior years’ taxes not yet assessed. In addition,
in the consolidated balance sheet this position includes de-
ferred tax liabilities from subsidiaries amounting to 182.3 mil-
lion euro (prior year: 172.9 million euro), whereas 86.9 million
euro (prior year: 78.3 million euro) of deferred tax assets
resulting from the consolidation process were offset against
the liabilities pursuant to Section 306 sentence 3 HGB.
Other provisions cover mainly the worldwide warranty, pro-
duct liability and litigation risks, as well as unbilled vendor de-
liveries, uncertain claims and commitments in the personnel
and social sector. Furthermore, provisions have been estab-
lished for deferred maintenance and IT reorganization as well
as for residual value risks in the lease business. Adequate
provision has been made for all other determinable risks.
(12) Provisions July 31, 2004 July 31, 2003
Group Porsche AG Group Porsche AG
T€T€T€T€
Provisions for pensions and similar obligations 457,067 429,930 401,702 388,422
Provisions for taxes 483,989 403,126 408,006 354,357
Other provisions 1,619,414 1,280,903 1,278,784 971,396
2,560,470 2,113,959 2,088,492 1,714,175
(11) Minority Interests
This position shows the portion of shareholders’ equity
which relates to third parties (minority interests).