宝马集团2024年财务报表

FINANCIAL STATEMENTS PUBLICATION TheFinancial Statements and the Management Report ofBayerische Motoren Werke Aktiengesellschaft (BMW AG) for thefinancial year 2024 will be submitted electronically to the agencythat maintains the Company Register, and may be obtained viathe Company Register website. The Management Report ofBMW AG is combined with the Group Management Report andpublished in the BMW Group Report 2024. The Annual Financial Statements and Management Report ofBMW AG are also available on the BMW Group's website at↗ www.bmwgroup.com/ir. BALANCE SHEET AT 31 DECEMBER INCOME STATEMENT BASIS OF PREPARATION Thefinancial statements of Bayerische Motoren WerkeAktiengesellschaft (BMW AG) have been drawn up in accordancewith the accounting provisions contained in the German Commer-cial Code (HGB) and legislation applicable to stock corporations.Figures are presented in millions of euro (euro million) unless oth-erwise stated. BMW AG, which has its legal seat in Munich, isregistered in the Commercial Register of the District Court of Mu-nich under the number HRB 42243. Key figures presented in this report have been rounded in accord-ance with standard commercial practise. In certain cases, thismay mean that values do not add up exactly to the stated totaland that percentages cannot be derived from the values shown. The income statement is presented using the cost of salesmethod. The financial year is the same as the calendar year. exceeding € 800 that are capable of being used separately areaccounted for as a general rule in accordance with the principleof individual valuation. Assets under construction are stated attheir nominal amount. The composition of and changes in long-lived assets are shownin the Analysis of Changes in Tangible, Intangible and InvestmentAssets. ACCOUNTING POLICIES In order to improve clarity, individual items are aggregated in thebalance sheet and income statement and presented separatelyin the notes to the financial statements. Inventories of raw materials, supplies and goods for resale arestated at the lower of cost and net realisable value (based on pro-curement market prices). Direct material and production costsand an appropriate proportion of material and production over-heads (including production-related depreciation) are taken intoaccount in the measurement of unfinished and finished goods.General administrative expenses, voluntary social expenses andcompany pension expenses are not included in manufacturingcost. Write-downs are made to cover risks arising from slow-mov-ing items or reduced saleability. Inventories include advance pay-ments made for raw materials and supplies as well as goods forresale. Advance payments are reported at their nominal amount. The following table shows the overarching ranges of useful livesapplied as well as detailed useful lives for significant selected cat-egories, all of which are subject to regular review. Purchased intangible assets are valued at acquisition cost. Intan-gible assets with finite useful lives are amortised on a straight-line basis over their useful lives of between three and 20 years.Impairment losses are recognised where necessary. Internallygenerated intangible assets are not capitalised. Advance payments are stated at their nominal amount. Property, plant and equipment are stated at acquisition or manu-facturing cost, less accumulated scheduled depreciation and im-pairment losses. Manufacturing cost includes direct material andproduction costs and an appropriate proportion of material andproductionoverheads(including production-related deprecia-tion). General administrative expenses, voluntary social expensesand company pension expenses are not included in manufactur-ing cost. Receivables and other assets are stated at the lower of their nom-inal value or net realisable value. Receivables whose collectabilityis associated with identifiable risks are written down appropri-ately; uncollectible receivables are written off. Investments in current marketable securities are measured atcost or, if lower, at their fair value at the end of the reporting pe-riod. Fair value corresponds to the market price. Property, plant and equipment are depreciated as a general ruleon a straight-line basis. The reducing balance method is still alsoapplied in specific cases. Items acquired during the year are de-preciated on a time-apportioned basis. Impairment losses arerecorded when the decline in value of an asset is considered tobe of a lasting nature. If the reasons for impairment no longer ex-ist, impairment losses previously recorded are reversed, at amaximum up to their amortised acquisition and manufacturingcost. For simplification purposes, assets with an acquisition ormanufacturing cost of up to € 800 are recognised directly as anexpense in the year of purchase/construction. Items of property,plant and equipment with an acquisition or manufacturing cost Cash and cash equivalents are stated at their nominal value