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88

GROUP FINANCIAL STATEMENTS

BMW Group
Income Statements for Group and Segments
Statement of Comprehensive Income for Group

Income Statements for Group and Segments


in million
Group

Note

Automotive
(unaudited supplementary information)

2013

2013

20121

Revenues

76,058

76,848

70,629

70,208

Cost of sales

10

60,784

61,354

57,771

56,525

Gross profit

15,274

15,494

12,858

13,683

Selling and administrative expenses

11

7,255

7,032

6,112

5,862

Other operating income

12

841

829

741

673

Other operating expenses

12

874

1,016

830

895

Profit / loss before financial result

7,986

8,275

6,657

7,599

Result from equity accounted investments

13

398

271

398

271

Interest and similar income

14

184

224

303

353

Interest and similar expenses

14

449

375

534

552

Other financial result

15

206

592

263

501

73

472

96

429

Financial result
Profit / loss before tax
Income taxes
88 GROUP FINANCIAL STATEMENTS
88 Income Statements
88 Statement of
Comprehensive Income
90 Balance Sheets
92 Cash Flow Statements
94 Group Statement of Changes in
Equity
96 Notes
96 Accounting Principles and
Policies
114 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122 Notes to the Balance Sheet
145 Other Disclosures
161 Segment Information

20121

16

Net profit / loss

7,913

7,803

6,561

7,170

2,573

2,692

2,153

2,453

5,340

5,111

4,408

4,717

Attributable to minority interest

34

26

26

17

24

Attributable to shareholders of BMW AG

34

5,314

5,085

4,391

4,693

Basic earnings per share of common stock in

17

8.10

7.75

Basic earnings per share of preferred stock in

17

8.12

7.77

Dilutive effects

Diluted earnings per share of common stock in

17

8.10

7.75

Diluted earnings per share of preferred stock in

17

8.12

7.77

1
2

Prior year figures have been adjusted in accordance with the revised version of IAS 19, see note 7.
Includes impact of exceptional items relating to the sale of the Husqvarna Group.

Statement of Comprehensive Income for Group


in million
Note

20131
Net profit
Remeasurement of the net defined benefit liability for pension plans

35

Deferred taxes
Items not expected to be reclassified to the income statement in the future
Available-for-sale securities
Financial instruments used for hedging purposes
Other comprehensive income from equity accounted investments

20121, 2

5,340

5,111

1,308

1,914

372

538

936

1,376

214

1,357

1,302

111

Deferred taxes

407

511

Currency translation foreign operations

635

123

Items expected to be reclassified to the income statement in the future


Other comprehensive income for the period after tax

20

Total comprehensive income


Total comprehensive income attributable to minority interests
Total comprehensive income attributable to shareholders of BMW AG
1
2

Presentation adjusted in accordance with revised IAS 1.


Prior year figures have been adjusted in accordance with the revised version of IAS 19, see note 7.

34

316

993

1,252

383

6,592

4,728

26

26

6,566

4,702

89 GROUP FINANCIAL STATEMENTS

Motorcycles

Financial Services

(unaudited supplementary information)

2013

20121,2

Other Entities

(unaudited supplementary information)

2013

20121

Eliminations

(unaudited supplementary information)

2013

20121

(unaudited supplementary information)

2013

2012

1,504

1,490

19,874

19,550

15,955

14,405

1,253

1,236

17,270

16,984

15,510

13,391

Cost of sales

251

254

2,604

2,566

445

1,014

Gross profit

177

181

953

980

23

18

10

57

101

115

122

79

75

72

65

129

54

51

77

131

79

1,643

1,558

44

58

437

949

1,340

1,542

1,464

1,672

1,279

1,499

1,374

1,684

59

98

120

55

90

12

76

1,639

1,561

164

527

937

25

22

527

545

68

200

323

51

16

1,112

1,016

96

327

614

51

16

1,104

1,015

95

327

614

Revenues

Selling and administrative expenses


Other operating income
Other operating expenses
Profit / loss before financial result
Result from equity accounted investments
Interest and similar income
Interest and similar expenses
Other financial result
Financial result
Profit / loss before tax
Income taxes
Net profit / loss
Attributable to minority interest
Attributable to shareholders of BMW AG
Basic earnings per share of common stock in
Basic earnings per share of preferred stock in
Dilutive effects
Diluted earnings per share of common stock in
Diluted earnings per share of preferred stock in

90

BMW Group
Balance Sheets for Group and Segments at 31 December

Assets
Group

Note

Automotive
(unaudited supplementary information)

in million

2013

31.12. 2012*
(adjusted)

2012*

2013

(adjusted)

Intangible assets

22

6,179

5,207

5,238

5,646

4,648

Property, plant and equipment

23

15,113

13,341

11,685

14,808

13,053

Leased products

24

25,914

24,468

23,112

19

128

Investments accounted for using the equity method

25

652

514

302

652

514

Other investments

25

553

548

561

5,253

4,789

Receivables from sales financing

26

32,616

32,309

29,331

Financial assets

27

2,593

2,148

1,702

1,183

759

Deferred tax

16

1,620

1,967

1,881

2,226

2,217

Other assets

29

954

803

577

2,797

3,862

86,194

81,305

74,389

32,584

29,970

Non-current assets

88 GROUP FINANCIAL STATEMENTS


88 Income Statements
88 Statement of
Comprehensive Income
90 Balance Sheets
92 Cash Flow Statements
94 Group Statement of Changes in
Equity
96 Notes
96 Accounting Principles and
Policies
114 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122 Notes to the Balance Sheet
145 Other Disclosures
161 Segment Information

1.1. 2012*

Inventories

30

9,585

9,725

9,638

9,259

9,366

Trade receivables

31

2,449

2,543

3,286

2,184

2,305

Receivables from sales financing

26

21,501

20,605

20,014

Financial assets

27

5,559

4,612

3,751

4,479

2,746

Current tax

28

1,151

966

1,194

1,002

775

Other assets

29

4,265

3,664

3,374

15,480

16,162

Cash and cash equivalents

32

7,664

8,370

7,776

6,768

7,484

Assets held for sale

33

45

52,174

50,530

49,033

39,172

38,838

138,368

131,835

123,422

71,756

68,808

Current assets
Total assets

Equity and liabilities


Group

Note

Automotive
(unaudited supplementary information)

in million

2013

31.12. 2012*
(adjusted)

1.1. 2012*

Subscribed capital

34

656

656

655

Capital reserves

34

1,990

1,973

1,955

Revenue reserves

34

33,167

28,544

26,343

Accumulated other equity

34

358

674

1,674

Equity attributable to shareholders of BMW AG

34

35,455

30,499

27,279

Minority interest

34

Equity

2013

2012*

(adjusted)

188

107

65

35,643

30,606

27,344

30,909

28,202

Pension provisions

35

2,303

3,813

1,996

938

2,358

Other provisions

36

3,772

3,441

3,081

3,075

3,103

Deferred tax

16

3,554

3,081

3,315

1,072

492

Financial liabilities

38

39,450

39,095

37,597

1,604

1,775

Other liabilities

39

Non-current provisions and liabilities

3,603

3,404

2,911

3,584

3,394

52,682

52,834

48,900

10,273

11,122

Other provisions

36

3,411

3,246

3,069

3,039

2,605

Current tax

37

1,237

1,482

1,363

1,021

1,269

Financial liabilities

38

30,854

30,412

30,380

725

1,289

Trade payables

40

7,475

6,433

5,340

6,764

5,669

Other liabilities

39

7,066

6,792

7,026

19,025

18,652

Liabilities in conjunction with assets held for sale

33

Current provisions and liabilities


Total equity and liabilities
*

30

50,043

48,395

47,178

30,574

29,484

138,368

131,835

123,422

71,756

68,808

Prior year figures have been adjusted in accordance with the revised version of IAS 19, see note 7.

91 GROUP FINANCIAL STATEMENTS

Assets
Motorcycles

Financial Services

(unaudited supplementary information)

2013

Other Entities

(unaudited supplementary information)

Eliminations

(unaudited supplementary information)

2012

2013

2012

2013

2012*

(unaudited supplementary information)

2013

2012

63

72

469

486

Intangible assets

271

242

34

46

Property, plant and equipment

30,230

28,060

4,335

3,720

5,754

5,761

10,460

10,009

32,616

32,309

276

126

1,779

1,730

645

467

Financial assets

285

279

290

349

1,181

878

Deferred tax

1,436

1,330

18,627

16,995

21,906

21,384

334

314

65,352

62,643

26,451

24,836

38,527

36,458

Leased products
Investments accounted for using the equity method
Other investments
Receivables from sales financing

Other assets
Non-current assets

318

348

11

Inventories

120

114

145

123

Trade receivables

21,501

20,605

Receivables from sales financing

826

813

936

1,480

682

427

89

132

60

59

31

3,530

3,573

32,775

30,285

47,520

46,387

879

797

17

89

45

438

538

26,978

26,054

33,788

31,914

48,202

46,814

Current assets

772

852

92,330

88,697

60,239

56,750

86,729

83,272

Total assets

Financial assets
Current tax
Other assets
Cash and cash equivalents
Assets held for sale

Equity and liabilities


Motorcycles

Financial Services

(unaudited supplementary information)

2013

2012

Other Entities

(unaudited supplementary information)

2013

2012*

Eliminations

(unaudited supplementary information)

2013

2012*

(unaudited supplementary information)

2013

2012

Subscribed capital
Capital reserves
Revenue reserves
Accumulated other equity
Equity attributable to shareholders of BMW AG
Minority interest

8,407

7,633

10,805

8,466

14,478

13,695

Equity

29

29

40

88

1,296

1,338

Pension provisions

141

135

257

173

299

30

Other provisions

5,266

4,777

2,790

2,193

14,376

14,174

24,115

23,613

645

467

318

246

20,084

19,653

68

18

20,451

19,907

488

410

40,023

38,865

25,784

25,004

23,886

22,567

57

114

309

289

235

Other provisions

123

136

93

77

Current tax

16,006

16,830

14,805

12,720

682

427

204

277

502

474

13

Trade payables

23

21

26,960

24,470

8,744

10,235

47,686

46,586

Other liabilities

30

284

442

43,900

42,199

23,650

23,280

48,365

47,010

Current provisions and liabilities

772

852

92,330

88,697

60,239

56,750

86,729

83,272

Total equity and liabilities

Deferred tax
Financial liabilities
Other liabilities
Non-current provisions and liabilities

Financial liabilities

Liabilities in conjunction with assets held for sale

92

BMW Group
Cash Flow Statements for Group and Segments

Group

Note

in million

2013

Net profit

20121, 2

5,340

5,111

2,435

2,908

Reconciliation between net profit and cash inflow / outflow from operating activities
Current tax
Other interest and similar income / expenses
Depreciation and amortisation of other tangible, intangible and investment assets
Change in provisions

3,830

3,716

479

443

Change in leased products

2,048

1,421

Change in receivables from sales financing

4,501

3,988

138

216

551

407

Change in deferred taxes


Other non-cash income and expense items
Gain / loss on disposal of tangible and intangible assets and marketable securities

22

16

398

271

Changes in working capital

983

1,755

Change in inventories

192

108

Result from equity accounted investments

Change in trade receivables


Change in trade payables
Change in other operating assets and liabilities
88 GROUP FINANCIAL STATEMENTS
88 Income Statements
88 Statement of
Comprehensive Income
90 Balance Sheets
92 Cash Flow Statements
94 Group Statement of Changes in
Equity
96 Notes
96 Accounting Principles and
Policies
114 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122 Notes to the Balance Sheet
145 Other Disclosures
161 Segment Information

126

Income taxes paid


Interest received
Cash inflow / outflow from operating activities

43

Investment in intangible assets and property, plant and equipment


Proceeds from the disposal of intangible assets and property, plant and equipment
Expenditure for investments
Proceeds from the disposal of investments
Cash payments for the purchase of marketable securities
Cash proceeds from the sale of marketable securities
Cash inflow / outflow from investing activities

43

Issue / buy-back of treasury shares


Payments into equity
Payment of dividend for the previous year
Intragroup financing and equity transactions
Interest paid
Proceeds from the issue of bonds
Repayment of bonds
Proceeds from new non-current other financial liabilities
Repayment of non-current other financial liabilities
Change in current other financial liabilities
Change in commercial paper
Cash inflow / outflow from financing activities

43

Effect of exchange rate on cash and cash equivalents


Effect of changes in composition of Group on cash and cash equivalents
Change in cash and cash equivalents

43

22

744

1,153

1,119

453

1,065

2,787

2,462

137

179

3,614

5,076

6,669

5,236

22

42

90

171

137

107

3,631

1,265

3,250

1,090

6,981

5,433

17

19

1,653

1,516

122

102

8,982

7,977

7,242

6,727

6,626

7,427

4,996

5,498

721

230

1,812

858

2,703

952

89

14

47

13

706

594

Cash and cash equivalents as at 1 January

8,370

7,776

Cash and cash equivalents as at 31 December

7,664

8,370

1
2
3

Prior year figures have been adjusted in accordance with the revised version of IAS 19, see note 7.
Prior year figures have been adjusted in accordance with the change in presentation described in note 43.
Interest relating to financial services business is classified as revenues / cost of sales.

93 GROUP FINANCIAL STATEMENTS

Financial Services

Automotive
(unaudited supplementary information)

2013

20121, 2

(unaudited supplementary information)

2013

2012 2

4,408

4,717

1,112

1,016

Net profit

2,516

3,026

137

104

153

104

3,745

3,679

20

38

Depreciation and amortisation of other tangible, intangible and investment assets

373

267

153

Change in provisions

109

23

2,895

2,256

Change in leased products

4,501

3,988

Change in receivables from sales financing

239

391

678

497

Change in deferred taxes

55

265

54

13

Other non-cash income and expense items

22

14

398

271

1,015

1,622

24

18

Changes in working capital

226

54

Change in inventories

53

722

25

19

1,188

954

45

141

1,918

269

743

2,487

2,191

132

139

191

249

9,450

9,167

5,358

4,192

6,575

5,074

37

15

35

Proceeds from the disposal of intangible assets and property, plant and equipment

528

384

Expenditure for investments

137

65

163

Proceeds from the disposal of investments

3,445

1,167

179

97

2,908

995

342

95

7,488

5,530

324

32

Reconciliation between net profit and cash inflow / outflow from operating activities
33

Current tax
Other interest and similar income / expenses

Gain / loss on disposal of tangible and intangible assets and marketable securities
Result from equity accounted investments

Change in trade receivables


Change in trade payables
Change in other operating assets and liabilities
Income taxes paid
Interest received
Cash inflow / outflow from operating activities
Investment in intangible assets and property, plant and equipment

Cash payments for the purchase of marketable securities


Cash proceeds from the sale of marketable securities
Cash inflow / outflow from investing activities

Issue / buy-back of treasury shares

17

19

Payments into equity

1,653

1,516

Payment of dividend for the previous year

582

833

3,844

1,505

149

157

1,099

1,189

Proceeds from the issue of bonds

1,383

842

Repayment of bonds

85

600

6,015

6,523

Proceeds from new non-current other financial liabilities

26

127

4,940

5,101

125

35

517

231

489

2,672

1,983

5,152

3,505

53

11

36

47

12

716

1,655

82

721

7,484

5,829

797

1,518

6,768

7,484

879

797

Intragroup financing and equity transactions


Interest paid

Repayment of non-current other financial liabilities


Change in current other financial liabilities
Change in commercial paper
Cash inflow / outflow from financing activities
Effect of exchange rate on cash and cash equivalents
Effect of changes in composition of Group on cash and cash equivalents
Change in cash and cash equivalents
Cash and cash equivalents as at 1 January
Cash and cash equivalents as at 31 December

94

BMW Group
Group Statement of Changes in Equity

in million

Note

1 January 2012, as originally reported

Capital
reserves

34

655

1,955

241

34

655

1,955

26,343

Dividends paid

1,508

Net profit

5,085

Other comprehensive income for the period after tax

1,376

Comprehensive income 31 December 2012

3,709

Subscribed share capital increase out of Authorised Capital

Premium arising on capital increase relating to preferred stock

18

Other changes

656

1,973

28,544

Subscribed
capital

Capital
reserves

1,973

Impact of application of revised IAS 19


1 January 2012 (adjusted)

88 GROUP FINANCIAL STATEMENTS


88 Income Statements
88 Statement of
Comprehensive Income
90 Balance Sheets
92 Cash Flow Statements
94 Group Statement of Changes in
Equity
96 Notes
96 Accounting Principles and
Policies
114 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122 Notes to the Balance Sheet
145 Other Disclosures
161 Segment Information

Revenue reserves1, 2

Subscribed
capital

26,102

31 December 2012 (adjusted)

34

in million

Note

1 January 2013, as originally reported

34

656

204

34

656

1,973

28,544

Dividends paid

1,640

Net profit

5,314

Other comprehensive income for the period after tax

936

Comprehensive income 31 December 2013

6,250

Subscribed share capital increase out of Authorised Capital

Premium arising on capital increase relating to preferred stock

17

Other changes

13

656

1,990

33,167

Impact of application of revised IAS 19


1 January 2013 (adjusted)

31 December 2013
1
2

34

Revenue reserves1, 2

28,340

With effect from the first quarter of the financial year 2013, other revenue reserves and the effect of pension obligations recognised directly in equity are presented on a net basis.
Prior year figures have been adjusted in accordance with the revised version of IAS 19, see note 7.

95 GROUP FINANCIAL STATEMENTS

Accumulated other equity

Equity
attributable to
shareholders
2
of BMW AG

Translation
differences

Securities

Derivative
financial
instruments

863

61

750

27,038

Minority
interest

65

Total 2

27,103

1 January 2012, as originally reported

241

241

863

61

750

27,279

65

27,344

Impact of application of revised IAS 19


1 January 2012 (adjusted)

1,508

1,508

Dividends paid

5,085

26

5,111

128

169

952

383

383

128

169

952

4,702

26

4,728

Subscribed share capital increase out of Authorised Capital

18

18

Premium arising on capital increase relating to preferred stock


Other changes

16

23

984

108

202

30,499

107

30,606

Equity
attributable to
shareholders
of BMW AG

Minority
interest

Total

30,295

107

30,402

Accumulated other equity

Translation
differences

Securities

Derivative
financial
instruments

984

108

202

Net profit
Other comprehensive income for the period after tax
Comprehensive income 31 December 2012

31 December 2012 (adjusted)

1 January 2013, as originally reported

204

204

984

108

202

30,499

107

30,606

Impact of application of revised IAS 19


1 January 2013 (adjusted)

1,640

1,640

Dividends paid

5,314

26

5,340

Net profit

645

27

934

1,252

1,252

Other comprehensive income for the period after tax

645

27

934

6,566

26

6,592

Comprehensive income 31 December 2013

Subscribed share capital increase out of Authorised Capital

17

17

Premium arising on capital increase relating to preferred stock


Other changes

13

55

68

1,629

135

1,136

35,455

188

35,643

31 December 2013