BMW 2015 Annual Report Download - page 162

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162
The total compensation of the current Board of Manage-
ment members for 2015 amounted to € 35.9 million
(2014: € 35.7 million). This comprised fixed components
of € 7.7 million (2014: € 7.7 million), variable compo-
nents
of € 27.1 million (2014: € 27.0 million) and a share-
based compensation component totalling € 1.1 million
(2014: € 1.0 million). Pension obligations to current mem-
bers of the Board of Management are covered by provi-
sions amounting to € 23.2 million (2014: € 31.3 million),
computed in accordance with IAS 19 (Employee Benefits).
The compensation of the members of the Supervisory
Board for the financial year 2015 amounted to € 5.1 mil-
lion (2014: € 4.8 million). This comprised fixed
compo-
nents of € 2.0 million (2014: € 2.0 million) and variable
components of € 3.1 million (2014: € 2.8 million).
The remuneration of former members of the Board
of Management and their dependants amounted to
€ 8.0 million (2014: € 5.8 million).
Application of exemption provisions
A number of companies and incorporated partnerships
(as defined by § 264a HGB) which are consolidated sub-
sidiaries of BMW AG and for which the Group Financial
Statements of BMW AG represent exempting consoli-
dated
financial statements, apply the exemptions avail-
able
in § 264 (3) and § 264b HGB with regard to the draw-
ing
up of a management report. The exemptions have
been applied by:
– Alphabet International GmbH, Munich
– Bavaria Wirtschaftsagentur GmbH, Munich
–
BMW Fahrzeugtechnik GmbH, Eisenach
– BMW Hams Hall Motoren GmbH, Munich
– BMW M GmbH Gesellschaft für individuelle
Automobile, Munich
– Rolls-Royce Motor Cars GmbH, Munich
Pension obligations to former members of the Board
of Management and their surviving dependants are
covered by pension provisions amounting to € 71.8 mil-
lion (2014: € 68.4 million), computed in accordance
with IAS 19.
The compensation systems for members of the Super-
visory Board do not include any stock options, value
appreciation rights comparable to stock options or any
other stock-based compensation components. Apart
from vehicle lease contracts entered into on customary
market conditions, no advances or loans were granted
to members of the Board of Management and the
Super-
visory Board, nor were any contingent liabilities entered
into on their behalf.
Further details about the remuneration of current mem-
bers of the Board of Management and the Supervisory
Board can be found in the Compensation Report, which
is part of the Combined Management Report.
The following German entities apply the exemption
available in § 264 (3) and § 264b HGB with regard to
publication:
– Alphabet International GmbH, Munich
– Bavaria Wirtschaftsagentur GmbH, Munich
–
BMW Beteiligungs GmbH & Co. KG, Munich
– BMW Fahrzeugtechnik GmbH, Eisenach
– BMW Hams Hall Motoren GmbH, Munich
– BMW INTEC Beteiligungs GmbH, Munich
– BMW M GmbH Gesellschaft für individuelle
Automobile, Munich
– BMW Verwaltungs GmbH, Munich
– MITEC Mikroelektronik Mikrotechnik Informatik
GmbH, Munich
– Rolls-Royce Motor Cars GmbH, Munich
In addition, the Dutch entities, BMW International Holding
B. V., The Hague, and Alphabet Nederland B. V., Breda,
apply the exemption provision contained in Article 2:403
of the Civil Code of the Netherlands.
48
47
Compensation of members of the Board of
Management and Supervisory Board
The total compensation of the current members of
the Board of Management and the Supervisory Board
of BMW AG for the financial year 2015 amounted to
€ 43.6 million (2014: € 46.1 million) and comprised the
following:
in € million 2015 2014
Short-term employment benefits 39.9 39.5
Share-based remuneration component 1.1 1.0
Post-employment benefits 2.6 2.1
Benefits in conjunction with the termination of an employment relationship – 3.5
Compensation 43.6 46.1
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