BMW 2009 Annual Report Download - page 93

91 Group Financial Statements
in euro million 2009 2008
Exchange gains 455 827
Income from the reversal of provisions 84 278
Income from the reversal of impairment losses and write-downs 1 6 8
Gains on the disposal of assets 84 50
Sundry operating income 169 265
Other operating income 808 1,428
Exchange losses 482 748
Expense for additions to provisions 7 8 113
Expenses for impairment losses and write-downs 85 52
Sundry operating expenses 159 274
Other operating expenses 804 1,187
Other operating income and expenses 4 241
Sales and administrative costs
Sales costs amounted to euro 3,647 million (2008: euro
4,047 million) and comprise mainly marketing, advertising
and sales personnel costs.
Administrative costs amounted to euro 1,393 million (2008:
euro 1,322 million) and comprised expenses for adminis-
tration not attributable to development, production or sales
functions.
Other operating income and expenses
Other operating income includes public-sector grants of euro 14 million (2008: euro 32 million).
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in euro million 2009 2008
Expected return on plan assets 379 360
Other interest and similar income* 477 325
thereof from subsidiaries: euro 6 million (2008: euro 10 million)
Interest and similar income 856 685
Expense from reversing the discounting of pension obligations – 532 – 550
Expense from reversing the discounting of other long-term provisions –115 – 96
Write-downs on marketable securities – 3 –123
Other interest and similar expenses* – 364 –161
thereof to subsidiaries: euro – million (2008: euro 1 million)
Interest and similar expenses –1,014 – 930
Net interest result –158 – 245
* Interest income and expenses relating to stand-alone derivatives are netted within the net interest result. Interest expenses include net interest expenses of euro 241 million
(2008: net interest expenses of euro 102 million) relating to stand-alone derivatives.
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Result from equity accounted investments
The profit from equity accounted investments of euro
36 million (2008: euro 26 million) includes the Group’s
share of the results of the joint venture BMW Brilliance
Automotive Ltd., Shenyang, and the investment in Cirquent
GmbH, Munich. In the previous year, the result relating
to the investment in Cirquent GmbH, Munich, was only
recognised for the final three months of the year.
Net interest result