Mercedes 2015 Annual Report Download - page 281

288 F | FURTHER INFORMATION | GLOSSARY
EBIT
Earnings before interest and taxes are the measure
of operating profit before taxes. E pages 85 ff
Equity method
Accounting and valuation method for share holdings
in associated companies and joint ventures.
Fair value
The amount for which an asset or liability could be exchanged
in an arm’s length transaction between knowledgeable and
willing parties who are independent of each other.
Goodwill
Goodwill represents the excess of the cost of an acquired
business over the fair values assigned to the separately
identifiable assets acquired and liabilities assumed.
Hybrid drive
Hybrid drive systems combine internal-combustion engines
with electric motors, which can be operated separately
or together depending on the type of vehicle and driving
situation.
IFRS – International Financial Reporting Standards
The IFRS are a set of standards and interpretations for compa-
nies’ external accounting and financial reporting developed
by an independent private-sector committee, the International
Accounting Standards Board (IASB).
Integrity Code
The “Integrity Code” has been in effect since November 2012.
It defines the principles of behavior and guidelines for everyday
conduct that are applicable at Daimler. Fairness, responsibility
and compliance with legislation are key principles in this context.
INTELLIGENT DRIVE
With this new technology from Mercedes-Benz, thanks to
improved environment sensors, intelligent assistance systems
analyze complex situations and recognize potential dangers
in road traffic even better.
Glossary
BlueEFFICIENCY
Efficiency packages for saving fuel. They include measures
taken inside engines, bodywork weight reductions, tires with
low roll resistance, aerodynamic improvements, the ECO
start-stop function etc. As a result, fuel consumption can be
reduced by more than 20%.
BLUETEC
A combination of inner-engine measures to reduce emissions
and treat exhaust gases. It improves diesel engines’ efficiency
for cars and commercial vehicles by optimizing their combustion,
and reduces their emissions with SCR catalysts.
BRIC
This abbreviation stands for the four countries of Brazil,
Russia, India and China.
Compliance
By the term compliance, we understand adherence to all laws,
rules, regulations and voluntary com mitments, as well as the
related internal guidelines and policies in connection with all
activities of the Daimler Group.
Consolidated Group
The consolidated Group is the total of all those companies that
are included in the consolidated financial statements.
Corporate governance
The term corporate governance applies to the proper manage-
ment and supervision of a company. The structure of corporate
governance at Daimler AG is determined by Germany’s Stock
Corporation Act (AktG), Codetermination Act (MitbestG) and
capital-market legislation.
Cost of capital
The cost of capital is the product of the average amount
of capital employed and the cost-of-capital rate. The cost-of-
capital rate is derived from the investors’ required rate
of return. E page 78
CSR – corporate social responsibility
A collective term for the social responsibility assumed by com-
panies, including economic, environmental and social aspects.