Porsche 2003 Annual Report Download - page 128
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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
124
(22) Income from Investments in Other Companies
(23) Interest Income, net
Interest income mainly results from investments in fixed-
interest bearing bonds and time deposits.
This item also contains income arising from interest-bearing
receivables and loans.
Provisions amounting to 20.0 million euro have been released
from years for which tax assessments have been finalized.
Furthermore, Porsche AG cross-charged taxes amounting
to 21.1 million euro (prior year: 11.0 million euro) to its
subsidiaries with profit transfer agreements.
(24) Write-downs of Marketable Securities
Marketable securities were written down to the lower market
value at the balance sheet date.
(25) Taxes 2003 ⁄ 04 2002 ⁄ 03
Group Porsche AG Group Porsche AG
T€ T€ T€ T€
Taxes on income 470,393 352,113 363,387 379,634
Other taxes 5,607 2,887 4,613 2,366
476,000 355,000 368,000 382,000
2003 ⁄ 04 2002 ⁄ 03
Group Porsche AG Group Porsche AG
T€ T€ T€ T€
Other interest and similar income 99,854 76,022 117,714 86,661
thereof from affiliated companies – (27,713) – ( 26,763 )
Interest and similar expenses – 58,196 – 36,891 – 88,179 – 33,782
thereof to affiliated companies – (– 10,729) – ( – 1,598)
41,658 39,131 29,535 52,879
2003 ⁄ 04 2002 ⁄ 03
Group Porsche AG Group Porsche AG
T€ T€ T€ T€
Income from investments 12 22,701 – 85,503
thereof income from investments in affiliated companies – (22,324) – (85,126)
Income from associated companies 4,468 – 416 –
Income from profit transfer agreements – 36,377 – 35,613
Expenses from profit transfer agreements – – – – 6,761
4,480 59,078 416 114,355