BMW 2015 Annual Report Download - page 128

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128
2014 Allowance for impairment recognised on a Total
in € million specific item basis group basis
Balance at 1 January* 1,098 482 1,580
Allocated (+) / reversed (–) 239 41 280
Utilised – 371 – 20 – 391
Exchange rate impact and other changes 34 12 46
Balance at 31 December 1,000 515 1,515
* Balance at 1 January adjusted due to deconsolidation of entities.
At the end of the reporting period, impairment allow-
ances
of € 530 million (2014: € 515 million) were
recog-
nised on a group basis on gross receivables from sales
financing totalling € 44,473 million (2014: € 38,780
mil-
lion). Impairment allowances of € 963 million (2014:
€ 1,000 million) were recognised at 31 December 2015
on a specific item basis on gross receivables from sales
financing totalling € 13,742 million (2014: € 12,951 million).
Receivables from sales financing which were not over-
due at the end of the reporting period amounted to
€ 13,321 million (2014: € 10,808 million). No impairment
losses were recognised for these balances.
The estimated fair value of collateral received for re-
ceivables on which impairment losses were recognised
totalled € 26,992 million (2014: € 25,443 million) at
the end of the reporting period. This collateral related
primarily to vehicles. The carrying amount of assets
held as collateral and taken back as a result of pay-
ment default amounted to € 40 million (2014: € 41 mil-
lion).
in € million 31. 12. 2015 31. 12. 2014
Derivative instruments 3,030 2,888
Marketable securities and investment funds 5,261 3,972
Loans to third parties 133 12
Credit card receivables 272 239
Other 147 297
Financial assets 8,843 7,408
thereof non-current 2,208 2,024
thereof current 6,635 5,384
28
Financial assets
Financial assets comprise:
The increase in derivative instruments was primarily
attributable to positive market price developments of
currency derivatives.
The rise in marketable securities and investment funds
results primarily from investments in fixed income
marketable securities.
The amount by which the value of the investment funds
exceeds obligations for part-time working arrange-
ments
(€ 12 million; 2014: € 48 million) is reported under
“Other financial assets”. Investment funds are held to
secure these obligations. These funds are managed by
BMW Trust e. V., Munich, as part of a Contractual Trust
Arrangement (CTA) and are therefore netted against
the corresponding settlement arrears for pre-retirement
part-time working arrangements.
90 GROUP FINANCIAL STATEMENTS
90 Income Statements
90 Statement of
Comprehensive Income
92 Balance Sheets
94 Cash Flow Statements
96 Group Statement of Changes in
Equity
98 Notes
98 Accounting Principles and
Policies
113 Notes to the Income Statement
121 Notes to the Statement
of Comprehensive Income
122
Notes to the Balance Sheet
147 Other Disclosures
163 Segment Information