Annual Financial Statements Of AUDI AG

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Our depreciation plan is based on the following estimates of useful economic lives: Buildings (excluding plant fixtures) Useful life 25-33 years Plant fixtures 8-30 years Production machinery 5-14 years Other plant and office equipment, including special tools, jigs and fixtures 3-10 years Variances by comparison with depreciation under commercial law resulting from higher deductions under Section 7d of the German Income Tax Act (EStG) (environmental protection), as well as from accelerated depreciation under Section 82d of the German Income Tax Directive (EStDV) (research and development) and pursuant to Section 6b of EStG (transfer of capital gains) are presented under special items with an equity portion and applied in accordance with the applicable rules. Under the provisions of BilMoG, new items may no longer be created. 3 Long-term investments EUR million Dec. 31, 2010 Dec. 31, 2009 Investments in affiliated companies 1,700 1,231 Loans advanced to affiliated companies 89 74 Participating interests 135 72 Investment securities – 534 Other loans advanced 3 3 Total 1,927 1,914 The change in investments in affiliated companies stems mainly from the acquisition of AUDI BRUSSELS S.A./N.V., Brussels (Belgium), and from capital increases at foreign companies. There was an unscheduled reduction for impairment to the lower fair value of one domestic company amounting to EUR 9 (9) million. Disposals of investment securities primarily relate to the offsetting of pension and time credit funds with the corresponding obligations. The balance from this pension liability is recorded separately in the Balance Sheet. Measurement principles Investments in affiliated companies, participating interests and investment securities are fundamentally measured at cost of purchase. Where impairment losses are likely to be permanent, they are depreciated to the lower fair value as of the balance sheet date. Non-interest-bearing and low-interest loans advanced are measured at present value on the basis of an arm’s length interest rate; other loans advanced are measured at their nominal value. Additions to investments in foreign currency are translated at the mean spot exchange rate on the day of the transaction. Compared with 2009, the entry into force of BilMoG has resulted in changes to the measurement of the time credit and pension funds. Assets that are protected from creditors and that serve to settle liabilities relating to retirement benefit obligations are measured at fair value. The fair value of such assets corresponds to their market price. As part of the process of preparing the opening balance sheet pursuant to BilMoG, the value of the time credit and pension funds has been adjusted to the fair value and this amount has been offset against the related obligations. Due to the fair value measurement of the time credit and pension funds, changes in value are immediately recognized as income or expense. Financial Statements of AUDI AG 42 Balance Sheet 43 Income Statement 47 Notes to the Financial Statements of AUDI AG 44 Development of fixed assets in the 2010 fiscal year 46 General Comments on the Balance Sheet and Income Statement 46 Notes to the Balance Sheet 53 Notes to the Income Statement 55 Other particulars 60 Statement of Interests
48 4 Inventories EUR million Dec. 31, 2010 Dec. 31, 2009 Raw materials and supplies 175 194 Work in progress 305 251 Finished goods and merchandise 972 876 Payments on account 0 1 Total 1,452 1,322 Measurement principles Raw materials and supplies are recognized at the lower of the updated average cost of purchase or replacement value. Materials invoiced in foreign currencies are measured on the day of the transaction, at the mean spot exchange rate. Other costs of purchase and purchase cost reductions are taken into account. In the case of work in progress and finished goods, which are measured at cost of conversion, direct materials are also included on an average cost of purchase basis. The amounts presented also comprise direct labor costs, together with other costs which must be capitalized under tax law. Interest on borrowings is not included. Company cars are included under finished goods and are measured according to the expected depreciation and the likely useful life. Merchandise is measured at cost of purchase. Provision has been made for all discernible storage and inventory risks by way of value adjustments. In this connection, work in progress and finished goods, as well as merchandise, are measured loss-free as soon as the values derived from the sales market are lower than the amortized cost of purchase or cost of conversion. 5 Receivables and other assets EUR million Dec. 31, 2010 Dec. 31, 2009 Trade receivables 1,037 668 of which due in more than one year 0 0 Receivables from affiliated companies 7,807 6,801 of which trade payables 943 825 Receivables from companies linked through participation 148 308 of which trade payables 148 288 Other assets 282 244 of which due in more than one year 147 97 of which to affiliated companies 94 103 Total 9,274 8,021 Measurement principles Receivables and other assets are recognized at their nominal value or at cost of purchase. Provision is made for discernible non-recurring risks and general credit risks in the form of appropriate value adjustments. Receivables and other assets with a maturity of more than one year are reported at their present value on the balance sheet date using a market interest rate appropriate for the duration. Receivables in foreign currencies are converted when recorded for the first time at the mean spot exchange rate. Receivables with a residual term of less than one year are converted using the mean spot exchange rate on the balance sheet date. For receivables with a longer term, a lower price on the balance sheet date results in a lower recognized measurement of the receivable while a higher price (measurement gain) has no effect.
Page 1 and 2: Management Report of AUDI AG for th
Page 3 and 4: 4 Management Report of AUDI AG for
Page 5 and 6: 6 Audi received the ADAC “Yellow
Page 7 and 8: 8 Each share carries an entitlement
Page 9 and 10: 10 BUSINESS AND UNDERLYING SITUATIO
Page 11 and 12: 12 Furthermore, the long-term corpo
Page 13 and 14: 14 Audi A1 successful in Euro NCAP
Page 15 and 16: 16 VEHICLE PRODUCTION BY MODEL 1) 2
Page 17 and 18: 18 DELIVERIES TO CUSTOMERS BY MODEL
Page 19 and 20: 20 Audi A6 AUDI AG took the wraps o
Page 21 and 22: 22 The two new models Audi A1 and A
Page 23 and 24: 24 EMPLOYEE STRUCTURAL DATA 2010 20
Page 25 and 26: 26 AUDI IN SOCIETY Donations by emp
Page 27 and 28: 28 Chair of Forest Yield Science at
Page 29 and 30: 30 Aerodynamics Vehicle aerodynamic
Page 31 and 32: 32 Along with the passing of the Ge
Page 33 and 34: 34 AUDI AG performed exceptionally
Page 35 and 36: 36 As an innovative carmaker, AUDI
Page 37 and 38: 38 AUDI AG estimates that most West
Page 39 and 40: 40 India will remain a major growth
Page 41 and 42: 42 Financial Statements of AUDI AG
Page 43 and 44: 44 Notes to the Financial Statement
Page 45: 46 GENERAL COMMENTS ON THE BALANCE
Page 49 and 50: 50 12 Provisions EUR million Dec. 3
Page 51 and 52: 52 In the case of a transition to t
Page 53 and 54: 54 20 Investment result EUR million
Page 55 and 56: 56 At variance with the previous ye
Page 57 and 58: 58 Auditor’s fees EUR thousand 20
Page 59 and 60: 60 STATEMENT OF INTERESTS PURSUANT
Page 61 and 62: 62 Responsibility Statement “Resp
Page 63 and 64: 64 Mandates of the Supervisory Boar
Page 65 and 66: 66 Dipl.-Wirtsch.-Ing. Hans Dieter
Page 67 and 68: 68 Fuel consumption and emission fi
Page 69 and 70: 70 Model Power output (kW) Transmis
Page 71 and 72: 72 Model Audi Q7 Power output (kW)

Annual Financial Statements Of AUDI AG

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