Porsche 2003 Annual Report Download - page 123

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119
(4) Other Assets
(5) Marketable Securities
Included in marketable securities are fixed-interest bearing
securities and special annuity funds.
(6) Cash and Cash Equivalents
Included in this item are checks, cash on hand,
as well as cash in banks.
(7) Prepaid Expenses
Included in prepaid expenses are advance payments for rent,
marketing, maintenance, and other service contracts. Further
(8) Capital Stock
The capital stock of Porsche AG amounts to 45.5 million euro
and is made up of 8,750,000 common shares and
(9) Capital Surplus
The capital surplus consists solely of share premiums.
(10) Retained Earnings
Retained earnings of Porsche AG contain only other retained
earnings. Due to Section 58 subsection 2 AktG, 244.0 million
euro half of the net income of Porsche AG was transferred to
retained earnings in the current fiscal year. Furthermore, due
to a resolution at the Annual Shareholders’ Meeting, 271.025
million euro of net income available for distribution from the
prior year was transferred to retained earnings.
more, prepaid rental expenses arising from special lease prepay-
ments are reflected in the consolidated financial statements.
8,750,000 non-voting preferred shares. Each of the shares
accounts for 2.60 euro of the capital stock.
Retained earnings of the Porsche Group include the retained
earnings of Porsche AG, net results of the consolidated sub-
sidiaries insofar as they originated after the initial consolida-
tion, foreign currency translation differences arising from
the capital consolidation and other consolidation operations.
Thereof 35.3 million euro are due to differences resulting
from capital consolidation.
The receivables from financial services basically consist of
loans for factoring granted by financing subsidiaries.
Sundry other assets contain accrued interest on marketable
securities, refunds from the financial authorities, premiums
paid for foreign currency options, other advance payments
and receivables which cannot be included in other items.
July 31, 2004 July 31, 2003
Group Porsche AG Group Porsche AG
T€ T€ T€ T€
Receivables from financial services 919,643 – 808,855 –
Sundry other assets 481,749 331,951 354,633 230,571
Other assets 1,401,392 331,951 1,163,488 230,571
Thereof due in more than one year (733,347) (53,629) (551,631) (26,290)