Financial Statements
Income Statement
Note | Group | Automotive (unaudited supplementary information) |
Motorcycles (unaudited supplementary information) |
Financial Services (unaudited supplementary information) |
Other Entities (unaudited supplementary information) |
Eliminations (unaudited supplementary information) |
||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | |||
Revenues | 6 | 98,678 | 94,163 | 88,581 | 86,424 | 2,283 | 2,069 | 27,567 | 25,681 | 7 | 6 | – 19,760 | – 20,017 | |
Cost of sales | 7 | – 78,744 | – 75,442 | – 72,266 | – 70,973 | – 1,809 | – 1,639 | – 23,986 | – 22,135 | – | – | 19,317 | 19,305 | |
Gross profit | 19,934 | 18,721 | 16,315 | 15,451 | 474 | 430 | 3,581 | 3,546 | 7 | 6 | – 443 | – 712 | ||
Selling and administrative expenses | 8 | – 9,560 | – 9,158 | – 7,927 | – 7,604 | – 256 | – 256 | – 1,370 | – 1,294 | – 27 | – 30 | 20 | 26 | |
Other operating income | 9 | 720 | 670 | 675 | 616 | 4 | 27 | 96 | 35 | 130 | 110 | – 185 | – 118 | |
Other operating expenses | 9 | – 1,214 | – 847 | – 1,200 | – 768 | – 15 | – 14 | – 113 | – 103 | – 96 | – 103 | 210 | 141 | |
Profit / loss before financial result | 9,880 | 9,386 | 7,863 | 7,695 | 207 | 187 | 2,194 | 2,184 | 14 | – 17 | – 398 | – 663 | ||
Result from equity accounted investments | 22 | 738 | 441 | 738 | 441 | – | – | – | – | – | – | – | – | |
Interest and similar income | 10 | 201 | 196 | 325 | 260 | – | – | 12 | 11 | 1,110 | 1,250 | – 1,246 | – 1,325 | |
Interest and similar expenses | 10 | – 412 | – 489 | – 530 | – 673 | – 2 | – 2 | – 10 | – 24 | – 986 | – 1,006 | 1,116 | 1,216 | |
Other financial result | 11 | 248 | 131 | 295 | 193 | – | – | 11 | – 5 | – 58 | – 57 | – | – | |
Financial result | 775 | 279 | 828 | 221 | – 2 | – 2 | 13 | – 18 | 66 | 187 | – 130 | – 109 | ||
Profit / loss before tax | 10,655 | 9,665 | 8,691 | 7,916 | 205 | 185 | 2,207 | 2,166 | 80 | 170 | – 528 | – 772 | ||
Income taxes | 12 | – 1,949 | – 2,755 | – 3,415 | – 2,475 | – 63 | – 53 | 1,840 | – 389 | – 19 | – 49 | – 292 | 211 | |
Net profit / loss | 8,706 | 6,910 | 5,276 | 5,441 | 142 | 132 | 4,047 | 1,777 | 61 | 121 | – 820 | – 561 | ||
Attributable to minority interest | 86 | 47 | 22 | 10 | – | – | 64 | 37 | – | – | – | – | ||
Attributable to shareholders of |
29 | 8,620 | 6,863 | 5,254 | 5,431 | 142 | 132 | 3,983 | 1,740 | 61 | 121 | – 820 | – 561 | |
Basic earnings per share of common stock |
13 | 13.12 | 10.45 | |||||||||||
Basic earnings per share of preferred stock |
13 | 13.14 | 10.47 | |||||||||||
Dilutive effects | – | – | ||||||||||||
Diluted earnings per share of common stock |
13 | 13.12 | 10.45 | – | ||||||||||
Diluted earnings per share of preferred stock |
13 | 13.14 | 10.47 | – |
Statement of Comprehensive Income
Note | 2017 | 2016 | |
---|---|---|---|
Net profit | 8,706 | 6,910 | |
Remeasurement of the net defined benefit liability for pension plans | 30 | 693 | – 1,858 |
Deferred taxes | – 218 | 529 | |
Items not expected to be reclassified to the income statement in the future | 475 | – 1,329 | |
Available-for-sale securities | 39 | 40 | |
Financial instruments used for hedging purposes | 1,914 | 2,008 | |
Other comprehensive income from equity accounted investments | – 30 | 43 | |
Deferred taxes | – 597 | – 721 | |
Currency translation foreign operations | – 1,171 | – 230 | |
Items expected to be reclassified to the income statement in the future | 155 | 1,140 | |
Other comprehensive income for the period after tax | 17 | 630 | – 189 |
Total comprehensive income | 9,336 | 6,721 | |
Total comprehensive income attributable to minority interests | 86 | 47 | |
Total comprehensive income attributable to shareholders of |
29 | 9,250 | 6,674 |
Balance Sheet
Assets
Assets
Assets | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Note | Group | Automotive (unaudited supplementary information) | Motorcycles (unaudited supplementary information) |
Financial Services (unaudited supplementary information) |
Other Entities (unaudited supplementary information) |
Eliminations (unaudited supplementary information) |
||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | |||
Intangible assets | 19 | 9,464 | 8,157 | 8,981 | 7,705 | 57 | 46 | 425 | 405 | 1 | 1 | – | – | |
Property, plant and equipment | 20 | 18,471 | 17,960 | 18,050 | 17,566 | 388 | 365 | 33 | 29 | – | – | – | – | |
Leased products | 21 | 36,257 | 37,789 | – | – | – | – | 44,285 | 45,134 | – | – | – 8,028 | – 7,345 | |
Investments accounted for using the equity method | 22 | 2,767 | 2,546 | 2,767 | 2,546 | – | – | – | – | – | – | – | – | |
Other investments | 690 | 560 | 4,985 | 5,195 | – | – | 2 | 3 | 7,160 | 6,585 | – 11,457 | – 11,223 | ||
Receivables from sales financing | 23 | 48,321 | 48,032 | – | – | – | – | 48,321 | 48,032 | – | – | – | – | |
Financial assets | 24 | 2,369 | 2,705 | 1,302 | 1,287 | – | – | 176 | 221 | 1,089 | 1,780 | – 198 | – 583 | |
Deferred tax | 12 | 1,927 | 2,327 | 3,079 | 4,310 | – | – | 442 | 389 | 130 | 263 | – 1,724 | – 2,635 | |
Other assets | 26 | 1,635 | 1,595 | 3,671 | 4,043 | 32 | 28 | 3,082 | 3,093 | 26,628 | 27,120 | – 31,778 | – 32,689 | |
Non-current assets | 121,901 | 121,671 | 42,835 | 42,652 | 477 | 439 | 96,766 | 97,306 | 35,008 | 35,749 | – 53,185 | – 54,475 | ||
Inventories | 27 | 12,707 | 11,841 | 12,103 | 11,344 | 580 | 492 | 24 | 5 | – | – | – | – | |
Trade receivables | 28 | 2,667 | 2,825 | 2,354 | 2,502 | 160 | 144 | 152 | 178 | 1 | 1 | – | – | |
Receivables from sales financing | 23 | 32,113 | 30,228 | – | – | – | – | 32,113 | 30,228 | – | – | – | – | |
Financial assets | 24 | 7,965 | 7,065 | 5,578 | 4,862 | – | – | 1,531 | 1,504 | 1,163 | 1,329 | – 307 | – 630 | |
Current tax | 25 | 1,566 | 1,938 | 714 | 1,000 | – | – | 55 | 44 | 797 | 894 | – | – | |
Other assets | 26 | 5,525 | 5,087 | 23,124 | 21,561 | 5 | 2 | 5,331 | 5,417 | 45,963 | 44,782 | – 68,898 | – 66,675 | |
Cash and cash equivalents | 9,039 | 7,880 | 7,157 | 4,794 | 8 | – | 1,856 | 3,046 | 18 | 40 | – | – | ||
Current assets | 71,582 | 66,864 | 51,030 | 46,063 | 753 | 638 | 41,062 | 40,422 | 47,942 | 47,046 | – 69,205 | – 67,305 | ||
Total assets | 193,483 | 188,535 | 93,865 | 88,715 | 1,230 | 1,077 | 137,828 | 137,728 | 82,950 | 82,795 | – 122,390 | – 121,780 | ||
Balance Sheet
Equity and Liabilities
Equity and Liabilities
Equity and liabilities | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Note | Group | Automotive (unaudited supplementary information) |
Motorcycles (unaudited supplementary information) |
Financial Services (unaudited supplementary information) |
Other Entities (unaudited supplementary information) |
Eliminations (unaudited supplementary information) |
||||||||
in € million | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||
Subscribed capital | 29 | 658 | 657 | |||||||||||
Capital reserves | 29 | 2,084 | 2,047 | |||||||||||
Revenue reserves | 29 | 51,256 | 44,445 | |||||||||||
Accumulated other equity | 29 | 114 | – 41 | |||||||||||
Equity attributable to shareholders of |
29 | 54,112 | 47,108 | |||||||||||
Minority interest | 436 | 255 | ||||||||||||
Equity | 54,548 | 47,363 | 39,441 | 36,624 | – | – | 14,740 | 11,049 | 18,102 | 16,744 | – 17,735 | – 17,054 | ||
Pension provisions | 30 | 3,252 | 4,587 | 2,405 | 2,911 | 69 | 83 | 72 | 77 | 706 | 1,516 | – | – | |
Other provisions | 31 | 5,437 | 5,039 | 4,980 | 4,570 | 101 | 103 | 356 | 353 | – | 13 | – | – | |
Deferred tax | 12 | 2,241 | 2,795 | 1,446 | 740 | – | – | 4,302 | 6,755 | 38 | 48 | – 3,545 | – 4,748 | |
Financial liabilities | 33 | 53,548 | 55,405 | 832 | 1,942 | – | – | 17,819 | 17,718 | 35,095 | 36,328 | – 198 | – 583 | |
Other liabilities | 34 | 5,410 | 5,357 | 6,793 | 6,530 | 487 | 442 | 28,835 | 29,413 | 198 | 601 | – 30,903 | – 31,629 | |
Non-current provisions and liabilities | 69,888 | 73,183 | 16,456 | 16,693 | 657 | 628 | 51,384 | 54,316 | 36,037 | 38,506 | – 34,646 | – 36,960 | ||
Other provisions | 31 | 6,313 | 5,879 | 5,656 | 5,187 | 99 | 90 | 549 | 599 | 9 | 3 | – | – | |
Current tax | 32 | 1,124 | 1,074 | 874 | 770 | – | – | 233 | 255 | 17 | 49 | – | – | |
Financial liabilities | 33 | 41,100 | 42,326 | 947 | 1,481 | – | – | 24,853 | 27,368 | 15,607 | 14,107 | – 307 | – 630 | |
Trade payables | 35 | 9,731 | 8,512 | 8,516 | 7,483 | 355 | 303 | 849 | 702 | 11 | 24 | – | – | |
Other liabilities | 34 | 10,779 | 10,198 | 21,975 | 20,477 | 119 | 56 | 45,220 | 43,439 | 13,167 | 13,362 | – 69,702 | – 67,136 | |
Current provisions and liabilities | 69,047 | 67,989 | 37,968 | 35,398 | 573 | 449 | 71,704 | 72,363 | 28,811 | 27,545 | – 70,009 | – 67,766 | ||
Total equity and liabilities | 193,483 | 188,535 | 93,865 | 88,715 | 1,230 | 1,077 | 137,828 | 137,728 | 82,950 | 82,795 | – 122,390 | – 121,780 | ||
Cash Flow Statement
Group | Automotive (unaudited supplementary information) | Financial Services (unaudited supplementary information) |
||||
---|---|---|---|---|---|---|
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | |
Net profit | 8,706 | 6,910 | 5,276 | 5,441 | 4,047 | 1,777 |
Reconciliation between net profit and cash inflow / outflow from operating activities | ||||||
Current tax | 2,558 | 2,670 | 2,699 | 2,787 | – 114 | – 117 |
Other interest and similar income / expenses1 | 65 | 131 | 89 | 283 | – 5 | 12 |
Depreciation and amortisation of tangible, intangible and investment assets | 4,822 | 4,998 | 4,699 | 4,876 | 35 | 29 |
Change in provisions | 696 | 883 | 988 | 970 | 225 | 139 |
Change in leased products | – 1,134 | – 2,526 | – | – | – 1,855 | – 3,532 |
Change in receivables from sales financing | – 7,440 | – 8,368 | – | – | – 7,440 | – 8,368 |
Change in deferred taxes | – 609 | 85 | 906 | – 187 | – 1,872 | 275 |
Other non-cash income and expense items | – 249 | – 15 | 25 | 11 | 46 | 11 |
Gain / loss on disposal of tangible and intangible assets and marketable securities | – 43 | – 4 | – 41 | – 3 | – 2 | – 1 |
Result from equity accounted investments | – 738 | – 441 | – 738 | – 441 | – | – |
Changes in working capital | 166 | – 104 | 78 | – 172 | 161 | 50 |
Change in inventories | – 1,293 | – 749 | – 1,179 | – 758 | – 20 | 2 |
Change in trade receivables | 45 | – 93 | 43 | – 43 | 19 | – 12 |
Change in trade payables | 1,414 | 738 | 1,214 | 629 | 162 | 60 |
Change in other operating assets and liabilities | 1,285 | 1,229 | – 1,362 | – 246 | 705 | – 283 |
Income taxes paid | – 2,301 | – 2,417 | – 1,896 | – 1,997 | – 315 | 164 |
Interest received1 | 125 | 142 | 125 | 142 | – | – |
Cash inflow / outflow from operating activities | 5,909 | 3,173 | 10,848 | 11,464 | – 6,384 | – 9,844 |
Investment in intangible assets and property, plant and equipment | – 7,112 | – 5,823 | – 6,972 | – 5,699 | – 15 | – 10 |
Proceeds from the disposal of intangible assets and property, plant and equipment | 30 | 10 | 28 | 9 | 2 | – |
Expenditure for investment assets | – 142 | – 338 | – 482 | – 122 | – | – |
Proceeds from the disposal of investment assets and other business units | 1,2362 | 140 | 1,037 | 140 | 970 | – |
Investments in marketable securities and investment funds | – 4,041 | – 3,592 | – 3,810 | – 3,196 | – 231 | – 396 |
Proceeds from the sale of marketable securities and investment funds | 3,866 | 3,740 | 3,655 | 3,436 | 211 | 304 |
Cash inflow / outflow from investing activities | – 6,163 | – 5,863 | – 6,544 | – 5,432 | 937 | – 102 |
Payments into equity | 38 | 20 | 38 | 20 | – | – |
Payment of dividend for the previous year | – 2,324 | – 2,121 | – 2,324 | – 2,121 | – | – |
Intragroup financing and equity transactions | – | – | 567 | – 1,833 | 4,315 | 6,191 |
Interest paid1 | – 165 | – 118 | – 165 | – 118 | – | – |
Proceeds from the issue of bonds | 12,061 | 13,974 | – | – | 552 | 870 |
Repayment of bonds | – 9,374 | – 10,374 | – | – | – 489 | – 1,160 |
Proceeds from new non-current other financial liabilities | 11,894 | 8,952 | – | 67 | 11,385 | 8,295 |
Repayment of non-current other financial liabilities | – 7,427 | – 8,443 | – 48 | – 520 | – 7,119 | – 7,215 |
Change in current other financial liabilities | – 4,084 | 4,135 | 73 | – 720 | – 4,181 | 4,425 |
Change in commercial paper | 953 | – 1,632 | – | – | – 129 | 195 |
Cash inflow / outflow from financing activities | 1,572 | 4,393 | – 1,859 | – 5,225 | 4,334 | 11,601 |
Effect of exchange rate on cash and cash equivalents | – 223 | 17 | – 82 | 10 | – 141 | 21 |
Effect of changes in composition of Group on cash and cash equivalents | 64 | 38 | – | 25 | 64 | 11 |
Change in cash and cash equivalents | 1,159 | 1,758 | 2,363 | 842 | – 1,190 | 1,687 |
Cash and cash equivalents as at 1 January | 7,880 | 6,122 | 4,794 | 3,952 | 3,046 | 1,359 |
Cash and cash equivalents as at 31 December | 9,039 | 7,880 | 7,157 | 4,794 | 1,856 | 3,046 |
Statement of Changes in Equity
Note | Subscribed capital | Capital reserves |
Revenue reserves |
Accumulated other equity | Equity attributable to shareholders of |
Minority interest |
Total | |||
---|---|---|---|---|---|---|---|---|---|---|
Currency translation differences |
Securities | Derivative financial instruments |
||||||||
1 January 2017 | 29 | 657 | 2,047 | 44,445 | – 171 | 52 | 78 | 47,108 | 255 | 47,363 |
Net profit | – | – | 8,620 | – | – | – | 8,620 | 86 | 8,706 | |
Other comprehensive income for the period after tax | – | – | 475 | – 1,323 | 41 | 1,437 | 630 | – | 630 | |
Comprehensive income 31 December 2017 | – | – | 9,095 | – 1,323 | 41 | 1,437 | 9,250 | 86 | 9,336 | |
Dividends paid | – | – | – 2,300 | – | – | – | – 2,300 | – | – 2,300 | |
Subscribed share capital increase out of Authorised Capital | 1 | – | – | – | – | – | 1 | – | 1 | |
Premium arising on capital increase relating to preferred stock | – | 37 | – | – | – | – | 37 | – | 37 | |
Other changes | – | – | 16 | – | – | – | 16 | 95 | 111 | |
31 December 2017 | 29 | 658 | 2,084 | 51,256 | – 1,494 | 93 | 1,515 | 54,112 | 436 | 54,548 |
Note | Subscribed capital | Capital reserves |
Revenue reserves |
Accumulated other equity | Equity attributable to shareholders of |
Minority interest |
Total | |||
---|---|---|---|---|---|---|---|---|---|---|
Currency translation differences |
Securities | Derivative financial instruments |
||||||||
1 January 2016 | 29 | 657 | 2,027 | 41,027 | 132 | 24 | – 1,337 | 42,530 | 234 | 42,764 |
Net profit | – | – | 6,863 | – | – | – | 6,863 | 47 | 6,910 | |
Other comprehensive income for the period after tax | – | – | – 1,329 | – 303 | 28 | 1,415 | – 189 | – | – 189 | |
Comprehensive income 31 December 2016 | – | – | 5,534 | – 303 | 28 | 1,415 | 6,674 | 47 | 6,721 | |
Dividends paid | – | – | – 2,102 | – | – | – | – 2,102 | – | – 2,102 | |
Subscribed share capital increase out of Authorised Capital | – | – | – | – | – | – | – | – | – | |
Premium arising on capital increase relating to preferred stock | – | 20 | – | – | – | – | 20 | – | 20 | |
Other changes | – | – | – 14 | – | – | – | – 14 | – 26 | – 40 | |
31 December 2016 | 29 | 657 | 2,047 | 44,445 | – 171 | 52 | 78 | 47,108 | 255 | 47,363 |