Additional Balance Sheet Disclosures in accordance with IFRS 7 (Financial Instruments)

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CARRYING AMOUNT OF FINANCIAL INSTRUMENTS
BY MEASUREMENT CATEGORY UNDER IAS 39

 

 

 

 

€ million

 

Dec. 31, 2008

 

Dec. 31, 2007

*

Prior-period amount adjusted.

Financial assets at fair value through profit or loss

 

878

 

1,522

Loans and receivables

 

52,751

 

47,053

Available-for-sale financial assets

 

13,450

 

16,398

Financial liabilities at fair value through profit or loss

 

407

 

143

Financial liabilities measured at amortized cost*

 

81,728

 

67,419

RECONCILIATION OF BALANCE SHEET ITEMS TO CLASSES OF FINANCIAL INSTRUMENTS

The following table shows the reconciliation of the balance sheet items to the relevant classes of financial instruments, broken down by carrying amount and fair value of the financial instruments.

The fair value of financial instruments measured at amortized cost, such as receivables and liabilities, is calculated by discounting using a market rate of interest for a similar risk and matching maturity. For reasons of materiality, the fair value of current balance sheet items is deemed to be their carrying amount.

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RECONCILIATION OF BALANCE SHEET ITEMS
TO CLASSES OF FINANCIAL INSTRUMENTS
AS OF DECEMBER 31, 2007

 

 

 

 

Measured at fair value

 

Measured at
amortized cost

 

Not within scope of IFRS 7

 

Other – not financial instruments

 

Balance sheet item at Dec. 31, 2007

€ million

 

Carrying  amount

 

Carrying  amount

 

Fair value

 

Carrying  amount

 

Carrying  amount

 

 

Noncurrent assets

 

 

 

 

 

 

 

 

 

 

 

 

Equity-accounted investments

 

 

 

 

7,795

 

 

7,795

Other equity investments

 

 

548

 

548

 

 

 

548

Financial services receivables

 

 

27,522

 

27,719

 

 

 

27,522

Other receivables and financial assets

 

711

 

828

 

828

 

 

877

 

2,416

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

Trade receivables

 

 

5,691

 

5,691

 

 

 

5,691

Financial services receivables

 

 

24,914

 

24,914

 

 

 

24,914

Other receivables and financial assets

 

2,127

 

1,771

 

1,771

 

 

2,755

 

6,653

Marketable securities

 

6,615

 

 

 

 

 

6,615

Cash and cash equivalents

 

10,112

 

 

 

 

 

10,112

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent financial liabilities

 

 

29,315

 

29,405

 

 

 

29,315

Other noncurrent liabilities

 

258

 

1

 

1

 

 

1,986

 

2,245

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Current financial liabilities

 

 

28,677

 

28,677

 

 

 

28,677

Trade payables

 

 

9,099

 

9,099

 

 

 

9,099

Other current liabilities

 

419

 

716

 

716

 

 

5,949

 

7,084

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RECONCILIATION OF BALANCE SHEET ITEMS
TO CLASSES OF FINANCIAL INSTRUMENTS
AS OF DECEMBER 31, 2008

 

 

 

 

Measured at fair value

 

Measured at
amortized cost

 

Not within scope of IFRS 7

 

Other – not financial instruments

 

Balance sheet item at Dec. 31, 2008

€ million

 

Carrying  amount

 

Carrying  amount

 

Fair value

 

Carrying  amount

 

Carrying  amount

 

 

Noncurrent assets

 

 

 

 

 

 

 

 

 

 

 

 

Equity-accounted investments

 

 

 

 

6,373

 

 

6,373

Other equity investments

 

2

 

581

 

581

 

 

 

583

Financial services receivables

 

 

31,855

 

32,366

 

 

 

31,855

Other receivables and financial assets

 

1,666

 

1,456

 

1,456

 

 

265

 

3,387

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

Trade receivables

 

 

5,969

 

5,970

 

 

 

5,969

Financial services receivables

 

 

27,035

 

27,035

 

 

 

27,035

Other receivables and financial assets

 

2,919

 

4,104

 

4,104

 

 

3,045

 

10,068

Marketable securities

 

3,770

 

 

 

 

 

3,770

Cash and cash equivalents

 

9,474

 

 

 

 

 

9,474

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Noncurrent financial liabilities

 

100

 

33,157

 

33,410

 

 

 

33,257

Other noncurrent liabilities

 

1,150

 

436

 

436

 

 

1,649

 

3,235

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Current financial liabilities

 

 

36,123

 

36,123

 

 

 

36,123

Trade payables

 

 

9,676

 

9,676

 

 

 

9,676

Other current liabilities

 

1,189

 

2,544

 

2,544

 

 

4,812

 

8,545

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CHANGES IN CREDIT RISK VALUATION ALLOWANCES ON FINANCIAL ASSETS

 

 

€ million

 

Specific  valuation  allowances

 

Portfolio-based  valuation  allowances

 

2008

 

Specific  valuation  allowances

 

Portfolio-based  valuation  allowances

 

2007

Balance at Jan. 1

 

991

 

563

 

1,554

 

1,114

 

590

 

1,704

Currency and other changes

 

58

 

5

 

63

 

1

 

–10

 

–9

Additions

 

741

 

115

 

856

 

437

 

88

 

525

Utilization

 

368

 

 

368

 

261

 

0

 

261

Reversals

 

182

 

149

 

331

 

295

 

111

 

406

Reclassification

 

–85

 

85

 

0

 

–5

 

6

 

1

Balance at Dec. 31

 

1,155

 

619

 

1,774

 

991

 

563

 

1,554

Starting in fiscal year 2008, the valuation allowances mainly relate to the credit risks associated with financial services. The prior-period amounts were adjusted to enhance comparability.

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