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 | Note | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenues | 7 | 98,990 | 104,210 | 80,853 | 91,682 | 2,284 | 2,368 | 30,044 | 29,598 | 3 | 5 | – 14,194 | – 19,443 |
Cost of sales | 8 | – 85,408 | – 86,147 | – 71,456 | – 78,062 | – 1,941 | – 1,911 | – 26,958 | – 25,938 | – | – | 14,947 | 19,764 |
Gross profit | 13,582 | 18,063 | 9,397 | 13,620 | 343 | 457 | 3,086 | 3,660 | 3 | 5 | 753 | 321 | |
Selling and administrative expenses | 9 | – 8,795 | – 9,367 | – 7,237 | – 7,762 | – 240 | – 264 | – 1,326 | – 1,341 | – 26 | – 24 | 34 | 24 |
Other operating income | 10 | 916 | 1,031 | 931 | 976 | 2 | 2 | 34 | 73 | 125 | 173 | – 176 | – 193 |
Other operating expenses | 10 | – 873 | – 2,316 | – 929 | – 2,335 | – 2 | – 1 | – 73 | – 80 | – 66 | – 125 | 197 | 225 |
Profit / loss before financial result | 4,830 | 7,411 | 2,162 | 4,499 | 103 | 194 | 1,721 | 2,312 | 36 | 29 | 808 | 377 | |
Result from equity accounted investments | 24 | 920 | 136 | 920 | 136 | – | – | – | – | – | – | – | – |
Interest and similar income | 11 | 116 | 179 | 236 | 420 | – | 1 | 3 | 4 | 1,169 | 1,515 | – 1,292 | – 1,761 |
Interest and similar expenses | 11 | – 458 | – 499 | – 613 | – 737 | – 3 | – 8 | – 4 | – 7 | – 1,232 | – 1,419 | 1,394 | 1,672 |
Other financial result | 12 | – 186 | – 109 | 17 | 149 | – | – | 5 | – 37 | – 208 | – 221 | – | – |
Financial result | 392 | – 293 | 560 | – 32 | – 3 | – 7 | 4 | – 40 | – 271 | – 125 | 102 | – 89 | |
Profit / loss before tax | 5,222 | 7,118 | 2,722 | 4,467 | 100 | 187 | 1,725 | 2,272 | – 235 | – 96 | 910 | 288 | |
Income taxes | 13 | – 1,365 | – 2,140 | – 713 | – 1,354 | – 26 | – 56 | – 456 | – 672 | 62 | 29 | – 232 | – 87 |
Profit / loss from continuing operations | 3,857 | 4,978 | 2,009 | 3,113 | 74 | 131 | 1,269 | 1,600 | – 173 | – 67 | 678 | 201 | |
Profit / loss from discontinued operations | – | 44 | – | 44 | – | – | – | – | – | – | – | – | |
Net profit / loss | 3,857 | 5,022 | 2,009 | 3,157 | 74 | 131 | 1,269 | 1,600 | – 173 | – 67 | 678 | 201 | |
Attributable to minority interest | 82 | 107 | 17 | 30 | – | – | 67 | 77 | – 2 | – | – | – | |
Attributable to shareholders of BMW AG | 31 | 3,775 | 4,915 | 1,992 | 3,127 | 74 | 131 | 1,202 | 1,523 | – 171 | – 67 | 678 | 201 |
Basic earnings per share of common stock in € | 14 | 5.73 | 7.47 | ||||||||||
Basic earnings per share of preferred stock in € | 14 | 5.75 | 7.49 | ||||||||||
Dilutive effects | – | – | |||||||||||
Diluted earnings per share of common stock in € | 14 | 5.73 | 7.47 | ||||||||||
Diluted earnings per share of preferred stock in € | 14 | 5.75 | 7.49 |
in € million | Note | 2020 | 2019 |
Net profit / loss | 3,857 | 5,022 | |
---|---|---|---|
Remeasurement of the net liability for defined benefit pension plans | 32 | – 354 | – 1,254 |
Deferred taxes | 139 | 387 | |
Items not expected to be reclassified to the income statement in the future | – 215 | – 867 | |
Marketable securities (at fair value through other comprehensive income) | 7 | 42 | |
Derivative financial instruments | 991 | – 706 | |
Costs of hedging | 201 | 125 | |
Other comprehensive income from equity accounted investments | 106 | – 3 | |
Deferred taxes | – 444 | 171 | |
Currency translation foreign operations | – 1,283 | 544 | |
Items that can be reclassified to the income statement in the future | – 422 | 173 | |
Other comprehensive income for the period after tax | 19 | – 637 | – 694 |
Total comprehensive income | 3,220 | 4,328 | |
Total comprehensive income attributable to minority interests | 82 | 107 | |
Total comprehensive income attributable to shareholders of BMW AG | 31 | 3,138 | 4,221 |
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 | Note | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||
Intangible assets | 21 | 12,342 | 11,729 | 11,809 | 11,212 | 155 | 127 | 377 | 389 | 1 | 1 | – | – |
Property, plant and equipment | 22 | 21,850 | 23,245 | 21,371 | 22,749 | 401 | 407 | 78 | 89 | – | – | – | – |
Leased products | 23 | 41,995 | 42,609 | – | – | – | – | 48,759 | 50,348 | – | – | – 6,764 | – 7,739 |
Investments accounted for using the equity method | 24 | 3,585 | 3,199 | 3,585 | 3,199 | – | – | – | – | – | – | – | – |
Other investments | 735 | 703 | 4,711 | 5,144 | – | – | 20 | 1 | 6,938 | 6,847 | – 10,934 | – 11,289 | |
Receivables from sales financing | 25 | 48,025 | 51,030 | – | – | – | – | 48,082 | 51,079 | – | – | – 57 | – 49 |
Financial assets | 26 | 2,644 | 1,370 | 559 | 131 | – | – | 161 | 139 | 1,939 | 1,168 | – 15 | – 68 |
Deferred tax | 13 | 2,459 | 2,194 | 3,196 | 3,451 | – | – | 550 | 512 | 131 | 84 | – 1,418 | – 1,853 |
Other assets | 28 | 1,216 | 1,325 | 2,861 | 2,203 | 33 | 36 | 2,929 | 3,351 | 41,860 | 38,919 | – 46,467 | – 43,184 |
Non-current assets | 134,851 | 137,404 | 48,092 | 48,089 | 589 | 570 | 100,956 | 105,908 | 50,869 | 47,019 | – 65,655 | – 64,182 | |
Inventories | 29 | 14,896 | 15,891 | 13,391 | 14,404 | 687 | 679 | 818 | 808 | – | – | – | – |
Trade receivables | 30 | 2,298 | 2,518 | 1,979 | 2,228 | 219 | 186 | 100 | 103 | – | 1 | – | – |
Receivables from sales financing | 25 | 36,252 | 41,407 | – | – | – | – | 36,252 | 41,407 | – | – | – | – |
Financial assets | 26 | 5,108 | 5,955 | 4,152 | 4,772 | – | – | 612 | 1,009 | 392 | 187 | – 48 | – 13 |
Current tax | 27 | 606 | 1,209 | 342 | 1,000 | – | – | 64 | 84 | 200 | 125 | – | – |
Other assets | 28 | 9,110 | 11,614 | 33,747 | 33,492 | 2 | 1 | 5,952 | 5,106 | 52,625 | 64,692 | – 83,216 | – 91,677 |
Cash and cash equivalents | 13,537 | 12,036 | 9,522 | 9,077 | 5 | 11 | 2,863 | 2,075 | 1,147 | 873 | |||
Current assets | 81,807 | 90,630 | 63,133 | 64,973 | 913 | 877 | 46,661 | 50,592 | 54,364 | 65,878 | – 83,264 | – 91,690 | |
Total assets | 216,658 | 228,034 | 111,225 | 113,062 | 1,502 | 1,447 | 147,617 | 156,500 | 105,233 | 112,897 | – 148,919 | – 155,872 |
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 | Note | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EQUITY AND LIABILITIES | |||||||||||||
Subscribed capital | 31 | 660 | 659 | ||||||||||
Capital reserves | 31 | 2,199 | 2,161 | ||||||||||
Revenue reserves | 31 | 59,550 | 57,667 | ||||||||||
Accumulated other equity | 31 | – 1,518 | – 1,163 | ||||||||||
Equity attributable to shareholders of BMW AG | 31 | 60,891 | 59,324 | ||||||||||
Minority interest | 629 | 583 | |||||||||||
Equity | 61,520 | 59,907 | 41,117 | 40,174 | – | – | 15,555 | 15,545 | 21,389 | 21,972 | – 16,541 | – 17,784 | |
Pension provisions | 32 | 3,693 | 3,335 | 3,197 | 2,820 | 109 | 96 | 49 | 47 | 338 | 372 | – | – |
Other provisions | 33 | 6,488 | 5,788 | 6,268 | 5,605 | 74 | 81 | 146 | 102 | – | – | – | – |
Deferred tax | 13 | 509 | 632 | 697 | 543 | – | – | 2,812 | 3,804 | 78 | 34 | – 3,078 | – 3,749 |
Financial liabilities | 35 | 67,390 | 70,647 | 2,087 | 2,680 | – | – | 17,730 | 18,170 | 47,588 | 49,865 | – 15 | – 68 |
Other liabilities | 36 | 5,095 | 5,100 | 7,270 | 7,929 | 522 | 569 | 42,506 | 39,639 | 1,011 | 102 | – 46,214 | – 43,139 |
Non-current provisions and liabilities | 83,175 | 85,502 | 19,519 | 19,577 | 705 | 746 | 63,243 | 61,762 | 49,015 | 50,373 | – 49,307 | – 46,956 | |
Other provisions | 33 | 7,494 | 7,421 | 6,960 | 6,962 | 100 | 105 | 388 | 299 | 46 | 55 | – | – |
Current tax | 34 | 747 | 963 | 537 | 704 | – | – | 192 | 184 | 18 | 75 | – | – |
Financial liabilities | 35 | 38,986 | 46,093 | 897 | 1,929 | – | – | 25,178 | 26,938 | 12,959 | 17,239 | – 48 | – 13 |
Trade payables | 37 | 8,644 | 10,182 | 7,365 | 8,814 | 378 | 413 | 892 | 943 | 9 | 12 | – | – |
Other liabilities | 36 | 16,092 | 17,966 | 34,830 | 34,902 | 319 | 183 | 42,169 | 50,829 | 21,797 | 23,171 | – 83,023 | – 91,119 |
Current provisions and liabilities | 71,963 | 82,625 | 50,589 | 53,311 | 797 | 701 | 68,819 | 79,193 | 34,829 | 40,552 | – 83,071 | – 91,132 | |
Total equity and liabilities | 216,658 | 228,034 | 111,225 | 113,062 | 1,502 | 1,447 | 147,617 | 156,500 | 105,233 | 112,897 | – 148,919 | – 155,872 |
Group | Automotive (unaudited supplementary information) | Financial Services (unaudited supplementary information) | ||||
in € million | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 |
---|---|---|---|---|---|---|
Profit/loss before tax1 | 5,222 | 7,118 | 2,722 | 4,467 | 1,725 | 2,272 |
Income taxes paid | – 1,605 | – 3,389 | – 382 | – 1,984 | – 1,513 | – 345 |
Interest received2 | 163 | 91 | 283 | 91 | 3 | – |
Other interest and similar income / expenses2 | 104 | 51 | 152 | 61 | 1 | 3 |
Depreciation and amortisation of tangible and intangible assets | 6,139 | 6,017 | 5,974 | 5,853 | 46 | 54 |
Other non-cash income and expense items | 99 | – 200 | 94 | – 262 | 6 | 23 |
Result from equity accounted investments | – 920 | – 136 | – 920 | – 136 | – | – |
Gain / loss on disposal of tangible and intangible assets and marketable securities | – | 4 | – | 3 | – | – |
Change in leased products | – 1,016 | – 3,825 | – | – | – 311 | – 3,600 |
Change in receivables from sales financing | 4,192 | – 3,560 | – | – | 4,184 | – 3,589 |
Changes in working capital | – 996 | – 1,117 | – 841 | – 831 | – 76 | – 222 |
Change in inventories | 370 | – 1,560 | 422 | – 1,255 | – 43 | – 193 |
Change in trade receivables | 160 | 14 | 191 | 43 | 1 | – 11 |
Change in trade payables | – 1,526 | 429 | – 1,454 | 381 | – 34 | – 18 |
Change in provisions | 1,115 | 1,512 | 1,122 | 1,745 | 129 | – 59 |
Change in other operating assets and liabilities | 754 | 1,096 | – 26 | 683 | – 1,432 | 118 |
Cash inflow / outflow from operating activities | 13,251 | 3,662 | 8,178 | 9,690 | 2,762 | – 5,345 |
Total investment in intangible assets and property, plant and equipment | – 6,150 | – 6,902 | – 5,990 | – 6,734 | – 14 | – 19 |
Proceeds from subsidies for intangible assets and property, plant and equipment | 53 | 50 | 45 | 50 | 8 | 2 |
Proceeds from the disposal of intangible assets and property, plant and equipment | 34 | 32 | 34 | 31 | – | 1 |
Expenditure for investment assets | – 176 | – 1,598 | – 199 | – 1,557 | – | – |
Proceeds from the disposal of investment assets and other business units3 | 1,328 | 1,087 | 1,327 | 1,087 | – | 57 |
Investments in marketable securities and investment funds | – 925 | – 775 | – 829 | – 507 | – 91 | – 268 |
Proceeds from the sale of marketable securities and investment funds | 2,200 | 822 | 1,679 | 465 | 521 | 356 |
Cash inflow / outflow from investing activities | – 3,636 | – 7,284 | – 3,933 | – 7,165 | 424 | 129 |
Payments into equity | 28 | 33 | 28 | 33 | – | – |
Payment of dividends for the previous year | – 1,671 | – 2,366 | – 1,671 | – 2,366 | – | – |
Intragroup financing and equity transactions | – | – | – 901 | 877 | – 2,438 | 5,491 |
Interest paid2 | – 275 | – 199 | – 447 | – 197 | – 18 | – 1 |
Proceeds from issue of non-current financial liabilities | 164,478 | 150,517 | – | 173 | 153,823 | 132,408 |
Repayment of non-current financial liabilities | – 171,532 | – 143,500 | – 982 | – 605 | – 156,657 | – 133,089 |
Change in other financial liabilities | 718 | 305 | – | – | 2,782 | 491 |
Cash inflow / outflow from financing activities | – 8,254 | 4,790 | – 3,973 | – 2,085 | – 2,508 | 5,300 |
Effect of exchange rate on cash and cash equivalents | 180 | – 28 | 130 | – 22 | 110 | 6 |
Effect of changes in composition of Group on cash and cash equivalents | – 40 | – 83 | 43 | 28 | – | – |
Change in cash and cash equivalents | 1,501 | 1,057 | 445 | 446 | 788 | 90 |
Cash and cash equivalents as at 1 January | 12,036 | 10,979 | 9,077 | 8,631 | 2,075 | 1,985 |
Cash and cash equivalents as at 31 December | 13,537 | 12,036 | 9,522 | 9,077 | 2,863 | 2,075 |
¹At the beginning of the financial year 2020, the starting point for determining cash flow was changed to profit / loss before tax; the previous year’s figures have been adjusted accordingly.
²With the exception of interest for lease liabilities, interest relating to financial services business is classified as revenues / cost of sales.
³Includes dividends received from investment assets amounting to € 1,020 million (2019: € 643 million).
Accumulated other equity | |||||||||||
in € million | Note | Subscribed capital | Capital reserves | Revenue reserves | Translation differences | Marketable Securities | Derivative financial instruments | Costs of hedging | Equity attributable to shareholders of BMW AG | Minority interest | Total |
---|---|---|---|---|---|---|---|---|---|---|---|
1 January 2020 | 31 | 659 | 2,161 | 57,667 | – 760 | 29 | 15 | – 447 | 59,324 | 583 | 59,907 |
Net profit | – | – | 3,775 | – | – | – | – | 3,775 | 82 | 3,857 | |
Other comprehensive income for the period after tax | – | – | – 215 | – 1,396 | 5 | 781 | 188 | – 637 | – | – 637 | |
Comprehensive income at 31 December 2020 | – | – | 3,560 | – 1,396 | 5 | 781 | 188 | 3,138 | 82 | 3,220 | |
Dividend payments | – | – | – 1,646 | – | – | – | – | – 1,646 | – 25 | – 1,671 | |
Subscribed share capital increase out of Authorised Capital | 1 | – | – | – | – | – | – | 1 | – | 1 | |
Premium arising on capital increase relating to preferred stock | – | – | 38 | – | – | – | – | – | 38 | – | 38 |
Other changes | – | – | – 31 | – | – | 72 | – 5 | 36 | – 11 | 25 | |
31 December 2020 | 31 | 660 | 2,199 | 59,550 | – 2,156 | 34 | 868 | – 264 | 60,891 | 629 | 61,520 |
Accumulated other equity | |||||||||||
in € million | Note | Subscribed capital | Capital reserves | Revenue reserves | Translation differences | Marketable Securities | Derivative financial instruments | Costs of hedging | Equity attributable to shareholders of BMW AG | Minority interest | Gesamt |
---|---|---|---|---|---|---|---|---|---|---|---|
1 January 2019 (as originally reported) | 31 | 658 | 2,118 | 55,862 | – 1,326 | – 1 | 558 | – 569 | 57,300 | 529 | 57,829 |
Effects of accounting policy change* | – | – | – 32 | – | – | – | – | – 32 | – | – 32 | |
1 January 2019 (as adjusted due to accounting policy change) | 658 | 2,118 | 55,830 | – 1,326 | – 1 | 558 | – 569 | 57,268 | 529 | 57,797 | |
Net profit | – | – | 4,915 | – | – | – | – | 4,915 | 107 | 5,022 | |
Other comprehensive income for the period after tax | – | – | – 867 | 566 | 30 | – 551 | 128 | – 694 | – | – 694 | |
Comprehensive income at 31 December 2019 | – | – | 4,048 | 566 | 30 | – 551 | 128 | 4,221 | 107 | 4,328 | |
Dividend payments | – | – | – 2,303 | – | – | – | – | – 2,303 | – 63 | – 2,366 | |
Subscribed share capital increase out of Authorised Capital | 1 | – | – | – | – | – | – | 1 | – | 1 | |
Premium arising on capital increase relating to preferred stock | – | 43 | – | – | – | – | – | 43 | – | 43 | |
Other changes | – | – | 92 | – | – | 8 | – 6 | 94 | 10 | 104 | |
31 December 2019 | 31 | 659 | 2,161 | 57,667 | – 760 | 29 | 15 | – 447 | 59,324 | 583 | 59,907 |
*The 2018 figures were adjusted due to the change in accounting policy in conjunction with the adoption of IFRS 16 (see Annual Report 2019, Note 6 to the Group Financial Statements).