BMW 2009 Annual Report Download - page 134

132
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
45 Application of exemptions pursuant to § 264 (3)
and § 264 b HGB
A number of companies and incorporated partnerships (as
defined by § 264a HGB) which are affiliated, consolidated
entities of BMW AG and for which the consolidated finan-
cial statements of BMW AG represent exempting consoli-
dated financial statements, apply the exemptions available
in § 264 (3) and § 264b HGB with regard to the drawing up
of a management report. The exemptions have been ap-
plied by:
– Bavaria Wirtschaftsagentur GmbH, Munich
–
BMW Fahrzeugtechnik GmbH, Eisenach
–
BMW Fuhrparkmanagement Beteiligungs GmbH, Stutt-
gart
–
BMW Hams Hall Motoren GmbH, Munich
–
BMW Ingenieur-Zentrum GmbH + Co., Dingolfing
–
BMW M GmbH Gesellschaft für individuelle Automobile,
Munich
–
BMW Vertriebs GmbH & Co. oHG, Dingolfing
– Rolls-Royce Motor Cars GmbH, Munich
In addition, the following entities apply the exemption avail-
able in § 264 (3) and § 264b HGB with regard to publica-
tion:
– Bavaria Wirtschaftsagentur GmbH, Munich
–
BMW Fuhrparkmanagement Beteiligungs GmbH, Stutt-
gart
–
BMW Hams Hall Motoren GmbH, Munich
–
BMW Ingenieur-Zentrum GmbH + Co., Dingolfing
–
BMW INTEC Beteiligungs GmbH, Munich
–
BMW Vertriebs GmbH & Co. oHG, Dingolfing
– Rolls-Royce Motor Cars GmbH, Munich
in euro million 2009 2008
Short-term employment benefits 12.3 12.5
Post-employment benefits 0.7 0.8
Compensation 13.0 13.3
44 Compensation of members of the Board of Management and Supervisory Board
The compensation of current members of the Board of Management and Supervisory Board amounted to euro 13.0 mil-
lion (2008: euro 13.3 million) and comprised the following:
The total remuneration of the members of the Board of
Management for the financial year 2009 amounted to euro
10.7 million (2008: euro 10.9 million). This comprised
fixed components of euro 3.7 million (2008: euro 3.1 mil-
lion) and variable components of euro 7.0 million (2008:
euro 7.8 million).
In addition, an amount of euro 0.7 million (2008: euro 0.8
million) has been granted to current members of the
Board
of Management after the end of their employment
relationship. This relates to the expense for allocations to
pension provisions (service cost).
The remuneration of former members of the Board of
Management and their surviving dependants amounted to
euro 3.8 million (2008: euro 3.1 million).
Pension obligations to former members of the Board of
Management and their surviving dependants are fully cov-
ered by pension provisions amounting to euro 46.7 million
(2008: euro 44.3 million), computed in accordance with
IAS 19.
The compensation of the members of the Supervisory
Board for the financial year 2009 amounted to euro 1.6 mil-
lion and, as in the previous year comprises only fixed com-
ponents.
The compensation systems for members of the Board of
Management and the Supervisory Board do not include
any stock options, value appreciation rights comparable to
stock options or any other stock-based compensation
components.
No advances and loans were granted to members of the
Board of Management and the Supervisory 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 on page
151 et seq. The compensation report is part of the Group
Management Report.
The names of the members of the Supervisory Board and of
the Board of Management are disclosed on page 142 et seq.