Porsche 2012 Annual Report Download - page 210

Financials
Notes to the consolidated fi nancial statements
The liabilities to associates mainly concern liabilities from the assignment of pending tax re-
funds to the Volkswagen group that relate to the advance profit distribution resolved by Porsche
Holding Stuttgart GmbH prior to the contribution of the business operations (reference is made
to the section "Consolidated group"). Corresponding receivables from the tax authorities are
recognized under income tax assets.
Other liabilities excluding derivative financial instruments have a carrying amount of €504
million (prior year: €150 million). The full amount (prior year: €149 million) is attributable to other
financial liabilities of €504 million. As of 31 December 2011, this additionally included non-
financial other liabilities with a carrying amount of €1 million.
The negative fair values of derivative financial instruments relate to the following items:
The options on non-stock company shares contained, until the contribution, the fair value of
Volkswagen AG’s call option relating to the remaining shares held by Porsche SE in Porsche
Holding Stuttgart GmbH.
Further details on derivative financial instruments are given in note [21].
€ million 31/12/2012 31/12/2011
Options on non-stock company shares 0 5,087
Liabilities from derivatives without hedging relationship 0 5,087
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