BMW 2009 Annual Report Download - page 102

100
74 Group Financial Statements
74 Income Statements
74 Statement of
Comprehensive Income
76 Balance Sheets
78 Cash Flow Statements
80 Group Statement of Changes
in Equity
81 Notes
81 Accounting Principles
and Policies
90 Notes to the Income
Statement
97
Notes to the Statement
of Comprehensive Income
98 Notes to the Balance Sheet
119 Other Disclosures
133 Segment Information
in euro million 31. 12. 2009 31. 12. 2008
Total of future minimum lease payments
due within one year 7 5 67
due between one and five years 166 202
due later than five years 117 157
358 426
Interest portion of the future minimum lease payments
due within one year 7 9
due between one and five years 25 27
due later than five years 36 49
6 8 8 5
Present value of future minimum lease payments
due within one year 68 58
due between one and five years 141 175
due later than five years 81 108
290 341
20
21
Intangible assets
Intangible assets mainly comprise capitalised develop-
ment costs on vehicle and engine projects as well as sub-
sidies for tool costs, licences, purchased development
projects and software. Amortisation on intangible assets
is presented in cost of sales, administrative costs and
other operating expenses.
In addition, intangible assets include a brand-name right
amounting to euro 40 million (2008: euro 37 million) and
goodwill with an indefinite useful life of euro 111 million,
unchanged from the previous year. The latter comprises
goodwill arising on the acquisition of DEKRA SüdLeasing
Services GmbH, Stuttgart, and its subsidiaries and on
the
acquisition of SimeLease (Malaysia) Sdn Bhd, Kuala
Property, plant and equipment
No borrowing costs were recognised as a cost compo-
nent
of property, plant and equipment during the year un-
der report.
A break-down of the different classes of property, plant
and equipment disclosed in the balance sheet and changes
during the year are shown in the analysis of changes in
Group tangible, intangible and investment assets on page
98 et seq.
Property, plant and equipment include a total of euro 57 mil-
lion
(2008: euro 68 million) relating to operational buildings
used by BMW AG as well as leased plant, machinery and
other facilities, factory and office equipment used primarily
at the Oxford and Hams Hall production plants. Due to
the nature of the lease arrangements (finance leases),
economic ownership of these assets is attributable to the
Lumpur, and its subsidiary SimeCredit (Malaysia) Sdn Bhd,
Kuala Lumpur. This item is not presented separately in
the
BMW Group balance sheet since the amount is not
significant in relation to either the balance sheet total or in-
tangible assets.
As in the previous year, there were no reversals of impair-
ment losses on intangible assets.
No borrowing costs were recognised as a cost component
of intangible assets during the year under report.
Changes in intangible assets during the year are shown in
the analysis of changes in Group tangible, intangible and
investment assets on page 98 et seq.
BMW Group. The leases for buildings, with a carrying
amount of euro 48 million (2008: euro 50 million) run for
periods up to 2023 at the latest. Some of the leases
contain extension and purchase options. The leases for
plant and machinery and other facilities, factory and office
equipment at the Oxford plant, with a carrying amount of
euro 4 million (2008: euro 6 million) at 31 December 2009,
run for periods up to 2011 at the latest. For each of the
leases, there is a recurring option to extend the leases by
one year. A purchase option was not agreed. The lease
for plant and machinery and other facilities, factory and
office
equipment at the Hams Hall production plant, with
a
carrying amount of euro 1 million (2008: euro 10 million)
runs until 2018 and may be extended for one year periods
thereafter. A purchase option was not agreed.
Minimum lease payments of the relevant leases are as
follows: