Dow Jones Company Report

Bayerische Motoren Werke AG

© 2010 Factiva, Inc. All rights reserved.

 Table of Contents
Company Report 3

General Information 3
Industry Classification 3

Performance/Segment Information 4

Peer Comparison 4

Key Financial Ratios 4

Hoppenstedt Key Figures (German language) 5

Balance Sheet - Annual 7

Cash Flow - Annual 8

Income Statement - Annual 9

Balance Sheet - Interim/Quarterly 10

Cash Flow - Interim/Quarterly 11

Income Statement - Interim/Quarterly 12

 Dow Jones Company Report for Bayerische Motoren Werke AG
Company Report

Company Report
General Information
Industry Classification

Bayerische Motoren Werke AG Bayerische Motoren Werke AG (BMW) is a German automobile manufacturer
that focuses on the worldwide automobile and motorcycle markets. The Company
Selected Legal Status Categories: Public Limited divides its activities into the segment Automobiles, Motorcycles and Financial
Company Services segments. It owns three brands: BMW, MINI and Rolls-Royce. Its BMW
automobile range encompasses the 1 Series, including three-door, five-door,
Petuelring 130 coupe and convertible models; the 3 Series, including sedan, touring, coupe and
Munich, Germany 80788 convertible models; the 5 Series, available in sedan and touring models; the 6
Germany Series, available as a coupe or convertible; the 7 Series large sedan; the Z4
roadster and coupe; the sports utility vehicles, X3, X5 and X6 and M models, such
Phone: 49-893-8223362 as M3, M5 and M6. It also offers cars under the MINI brand and motorcycles
Fax: 49-893-8210881 under the BMW brand. The Rolls-Royce brand offers three luxury cars, Phantom,
Web: http://www.bmwgroup.com Drophead Coupe and Coupe. It has producing, assembly, service and sales
subsidiaries throughout the world.
Ownership Type: Listed
Primary Exchange: GER
DUNS Number: 315369934
Banker: Bundesbank

Auditor/Accountant: KPMG LLP

Fiscal Year-End Date: 31-Dec-2009
Registration Id: HRB42243Amtsgericht München

Primary Industry Classification

Dow Jones Industry Passenger Cars
SIC 3711 Motor Vehicles and Passenger Car Bodies
NAICS 336111 Automobile Manufacturing
Secondary Industry Classification
SIC 3751 Motorcycles, Bicycles, and Parts
SIC 6141 Personal Credit Institutions
NAICS 336991 Motorcycle, Bicycle, and Parts Manufacturing
NAICS 522220 Sales Financing

Source: Reuters, Hoppenstedt Firmendatenbank, Generate, Inc.

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 Dow Jones Company Report for Bayerische Motoren Werke AG
Performance/Segment Information

Performance/Segment Information

Financial Performance Business Segment Geographic Segment

(EUR m) (EUR m) Top 5 Segments (EUR m) Top 5 Segments

Source: Reuters
Peer Comparison

Peer Comparison

Dow Jones Industry: Passenger Cars

Total Number of Companies: 81
Rank Company Name Sales USD m Employees Market Cap Net Income Net Profit
USD m USD m Margin
6 HONDA MOTOR CO., LTD. 99,949.60 176,815 65,356.25 3,126.93 2.21%
7 Nissan Motor Co., Ltd. 93,272.25 151,698 37,506.19 525.96 0.67%
8 Hyundai Motor Company 75,536.24 55,984 31,300.80 2,455.69 4.42%
9 Fiat SpA 70,035.51 190,014 20,536.90 -1,171.41 -1.69%
10 PSA Peugeot Citroen S.A. 67,630.95 201,700 8,974.56 -1,621.73 -2.78%
11 Bayerische Motoren Werke AG 67,127.15 96,230 44,963.14 270.20 0.41%
12 Renault SA 46,861.27 124,307 15,423.91 -4,343.90 -9.10%
13 Audi AG 38,875.43 57,723 37,058.66 1,693.63 4.52%
14 SUZUKI MOTOR CORPORATION 28,746.80 51,503 13,566.68 336.63 2.12%
15 Kia Motors Corporation 26,143.31 32,616 14,969.50 869.59 3.47%

Source: Reuters, Factiva

Key Financial Ratios

Key Financial Ratios

Last Financial
Period
Reporting Currency EUR
Relative Valuations
P/E excluding Extraordinary Items 159.75
Price to Sales TTM 0.60

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 Dow Jones Company Report for Bayerische Motoren Werke AG

Price to Cash Flow 8.56

Price to Free Cash Flow 4.94
Price to Book 1.64
Price to Tangible Book Value 2.25
Tangible Book Value per Share 22.18
Current Enterprise Value 86,324.55
Current EV / Total Revenue 1.60
Current EV/EBITDA 14.26
Financial Strength
Current Ratio 1.08
Quick Ratio 0.90
Long Term Debt to Equity 1.73
Debt to Equity 3.08
Interest Coverage 0.74
Profitability
Pre-Tax Margin TTM 4.20%
Pre-Tax Margin, 5-Yr Average 4.71%
Net Profit Margin TTM 2.59%
Net Profit Margin, 5-Yr Average 3.44%
Operating Margin TTM 4.34%
Operating Margin, 5-Yr Average 5.10%
EBIT 283,000,000
EBIT TTM --
EBIT Margin, 5-Yr Average --
Gross Margin TTM 14.25%
Gross Margin, 5-Yr Average 17.83%
Tax Rate 49.15%
Tax Rate, 5-Yr Average 27.07%
Effectiveness
Return on Average Equity TTM 6.90%
Return on Average Equity, 5-Yr Average 9.10%
Return on Average Assets TTM 1.32%
Return on Average Assets, 5-Yr Average 2.05%
Return on Investment TTM 2.03%
Return on Investment, 5-Yr Average 3.28%
Efficiency
Revenue per Employee TTM 561,072
Net Income per Employee TTM 14,538
Asset Turnover TTM 0.51
Receivables Turnover TTM 22.38
Inventory Turnover TTM 6.27

Source: Reuters Publication Date: 29-Oct-2010

Hoppenstedt Key Figures (German language)

Hoppenstedt Key Figures (German language)

Konzern (EUR)
Kennzahlen Konzern 2008 2007 2006 2005
Umsatzerlöse 53,197,000,000 56,018,000,000 48,999,000,000 46,656,000,000
Jahresüberschuß/- 330,000,000 3,134,000,000 2,874,000,000 2,239,000,000
fehlbetrag
Investitionen (o. 16,580,000,000 15,305,000,000 12,835,000,000 11,195,000,000
Finanzanlagen)
Abschreibungen (o. 7,645,000,000 6,158,000,000 4,848,000,000 4,207,000,000
Finanzanlagen)

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 Dow Jones Company Report for Bayerische Motoren Werke AG

Beschäftigte 101,733 104,402 103,727 103,546

GJ-Durchschnitt
Beschäftigte GJ-Ende 100,041 107,539 106,575 105,798
Hoppenstedt Key Figures (German language)

AG (EUR)
Kennzahlen 2008 2007 2006 2005
Umsatzerlöse 44,313,000,000 48,310,000,000 42,417,000,000 41,801,000,000
Jahresüberschuß/- 384,000,000 1,184,000,000 485,000,000 424,000,000
fehlbetrag
Investitionen (o. 2,064,000,000 1,670,000,000 1,324,000,000 1,472,000,000
Finanzanlagen)
Abschreibungen (o. 1,569,000,000 1,791,000,000 1,765,000,000 1,770,000,000
Finanzanlagen)
Beschäftigte 73,966 76,135 76,374 77,136
GJ-Durchschnitt
Beschäftigte GJ-Ende 71,596 76,064 76,156 76,536
Hoppenstedt Key Figures (German language)

Betriebszahlen Konzern
Fahrzeug-Produktion 2008 2007 2006 2005
BMW 1,203,482 1,302,774 1,179,317 1,122,308
MINI 235,019 237,700 186,674 200,119
Rolls-Royce 1,417 1,029 847 692
Motorräder 104,220 104,396 103,759 92,012
Hoppenstedt Key Figures (German language)

Betriebszahlen Konzern
Fahrzeug-Auslieferungen 2008 2007 2006 2005
BMW 1,202,239 1,276,793 1,185,088 1,126,768
MINI 232,425 222,875 188,077 200,428
Rolls Royce 1,212 1,010 805 796
Motorräder 101,685 102,467 100,064 97,474
Hoppenstedt Key Figures (German language)

Betriebszahlen Konzern (EUR)

Umsatzaufteilung nach 2008 2007 2006 2005
Bereichen
Automobile 37,877,000,000 42,435,000,000 47,767,000,000 45,861,000,000
Motorräder 1,222,000,000 1,223,000,000 1,265,000,000 1,223,000,000
Finanzdienstleistungen 13,952,000,000 12,146,000,000 11,079,000,000 9,408,000,000
Überleitungen / 146,000,000 -214,000,000 -11,112,000,000 -9,836,000,000
Sonstige
Gesamt 53,197,000,000 56,018,000,000 48,999,000,000 46,656,000,000
Hoppenstedt Key Figures (German language)

Betriebszahlen Konzern (EUR)

Regionale 2008 2007 2006 2005
Umsatzaufteilung
Deutschland 10,739,000,000 11,918,000,000 10,601,000,000 11,001,000,000
Übriges Europa 20,693,000,000 22,395,000,000 18,440,000,000 17,266,000,000
Amerika 13,294,000,000 13,014,000,000 12,336,000,000 11,560,000,000
Afrika, Asien, Ozeanien 8,471,000,000 8,691,000,000 7,622,000,000 829,000,000
Gesamt 53,197,000,000 56,018,000,000 48,999,000,000 46,656,000,000

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 Dow Jones Company Report for Bayerische Motoren Werke AG

Source: Hoppenstedt Firmendatenbank

Balance Sheet - Annual

Balance Sheet - Annual

Period End Date 31-Dec-2009 31-Dec-2008 31-Dec-2007 31-Dec-2006 31-Dec-2005

Update Type/Date Normal Normal Normal Normal Normal
17-Mar-2010 18-Mar-2009 18-Mar-2008 14-Mar-2007 15-Mar-2006
Auditor/Accountant KPMG LLP KPMG LLP KPMG LLP KPMG LLP KPMG LLP
Number of Employees 96,230 100,041 107,539 106,575 105,798
Accounting Standard International International International International International
Financial Financial Financial Financial Financial
Reporting Reporting Reporting Reporting Reporting
Stand. Stand. Stand. Stand. Stand.
Annual Balance Sheet: (EUR, In millions)
Cash and Equivalents 7,767.00 7,454.00 2,393.00 1,336.00 1,621.00
Short Term Investments 3,215.00 3,306.00 3,622.00 3,134.00 2,654.00
Cash and Short Term Investments 10,982.00 10,760.00 6,015.00 4,470.00 4,275.00
Trade Accounts Receivable, Gross 1,942.00 2,373.00 2,717.00 -- --
Provision for Doubtful Accounts (85.00) (68.00) (45.00) -- --
Trade Accounts Receivable, Net 1,857.00 2,305.00 2,672.00 2,258.00 2,135.00
Other Receivables 17,116.00 15,871.00 13,996.00 12,503.00 11,851.00
Total Receivables, Net 18,973.00 18,176.00 16,668.00 14,761.00 13,986.00
Inventories - Finished Goods -- -- 4,731.00 4,280.00 4,042.00
Inventories - Work in Progress 542.00 803.00 871.00 911.00 931.00
Inventories - Raw Materials 536.00 596.00 632.00 689.00 674.00
Inventories - Other 5,477.00 5,891.00 1,115.00 914.00 880.00
Total Inventory 6,555.00 7,290.00 7,349.00 6,794.00 6,527.00
Deferred Income Tax - Current Asset 950.00 602.00 237.00 246.00 267.00
Other Current Assets 2,484.00 1,842.00 2,109.00 2,272.00 1,955.00
Other Current Assets, Total 3,434.00 2,444.00 2,346.00 2,518.00 2,222.00
Total Current Assets 39,944.00 38,670.00 32,378.00 28,543.00 27,010.00
Land/Improvements 7,340.00 6,875.00 6,566.00 6,425.00 6,139.00
Machinery/Equipment 24,771.00 23,735.00 22,469.00 21,683.00 21,035.00
Construction in Progress 566.00 1,121.00 1,019.00 740.00 898.00
Property/Plant/Equipment, Gross 32,677.00 31,731.00 30,054.00 28,848.00 28,072.00
Accumulated Depreciation (21,292.00) (20,439.00) (18,946.00) (17,563.00) (16,985.00)
Property/Plant/Equipment, Net 11,385.00 11,292.00 11,108.00 11,285.00 11,087.00
Goodwill, Net 111.00 111.00 -- -- --
Intangibles, Gross -- -- 9,488.00 8,483.00 7,330.00
Accumulated Intangible Amortization -- -- (3,818.00) (3,171.00) (2,737.00)
Intangibles, Net 5,268.00 5,530.00 5,670.00 5,312.00 4,593.00
Long Term Investment - Affiliate Companies 369.00 433.00 272.00 461.00 1,272.00
Other Long Term Investments 1,519.00 1,808.00 1,173.00 816.00 642.00
Total Long Term Investments 1,888.00 2,241.00 1,445.00 1,277.00 1,914.00
Deferred Income Tax - Long Term Asset 1,266.00 866.00 720.00 755.00 772.00
Other Long Term Assets 42,091.00 42,376.00 37,676.00 31,885.00 29,190.00
Other Long Term Assets, Total 43,357.00 43,242.00 38,396.00 32,640.00 29,962.00
Total Assets 101,953.00 101,086.00 88,997.00 79,057.00 74,566.00
Accounts Payable 3,122.00 2,562.00 3,551.00 3,737.00 3,544.00
Notes Payable/Short Term Debt 8,705.00 10,434.00 7,685.00 5,998.00 5,165.00
Current Portion of Long Term Debt/Capital 18,229.00 19,453.00 14,808.00 11,657.00 12,671.00
Leases
Customer Advances -- -- 1,369.00 1,176.00 1,385.00
Income Taxes Payable 836.00 633.00 808.00 567.00 462.00
Other Payables -- -- 75.00 41.00 41.00
Other Current Liabilities 6,027.00 6,205.00 5,488.00 5,379.00 4,816.00

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 Dow Jones Company Report for Bayerische Motoren Werke AG

Other Current Liabilities, Total 6,863.00 6,838.00 7,740.00 7,163.00 6,704.00

Total Current Liabilities 36,919.00 39,287.00 33,784.00 28,555.00 28,084.00
Long-Term Debt 34,391.00 30,497.00 21,428.00 18,800.00 16,830.00
Total Long Term Debt 34,391.00 30,497.00 21,428.00 18,800.00 16,830.00
Total Debt 61,325.00 60,384.00 43,921.00 36,455.00 34,666.00
Deferred Income Tax - Long Term Liability 2,769.00 2,757.00 2,714.00 2,758.00 2,522.00
Total Deferred Income Tax 2,769.00 2,757.00 2,714.00 2,758.00 2,522.00
Minority Interest 13.00 8.00 11.00 4.00 0.00
Reserves 2,706.00 2,757.00 2,676.00 2,865.00 3,243.00
Pension Benefits - Underfunded 2,972.00 3,314.00 4,627.00 5,017.00 5,255.00
Other Long Term Liabilities 2,281.00 2,201.00 2,024.00 1,932.00 1,659.00
Other Liabilities, Total 7,959.00 8,272.00 9,327.00 9,814.00 10,157.00
Total Liabilities 82,051.00 80,821.00 67,264.00 59,931.00 57,593.00
Common Stock 655.00 654.00 654.00 654.00 674.00
Total Common Stock 655.00 654.00 654.00 654.00 674.00
Additional Paid-In Capital 1,921.00 1,911.00 1,911.00 1,911.00 1,971.00
Retained Earnings 20,426.00 20,419.00 20,789.00 18,121.00 16,351.00
Treasury Stock - Common 0.00 (10.00) -- 0.00 (506.00)
Other Equity (3,100.00) (2,709.00) (1,621.00) (1,560.00) (1,517.00)
Other Equity, Total (3,100.00) (2,709.00) (1,621.00) (1,560.00) (1,517.00)
Total Stockholders' Equity 19,902.00 20,265.00 21,733.00 19,126.00 16,973.00
Total Liabilities and Shareholders Equity 101,953.00 101,086.00 88,997.00 79,057.00 74,566.00
Shares Outstanding - Common Stock, Primary 601,995,200 601,995,200 601,995,200 601,995,200 608,739,440
Issue
Shares Outstanding - Common Stock, Issue2 52,665,360 51,833,030 51,535,850 52,196,160 52,196,160
Total Common Shares Outstanding 654,660,560 653,828,230 653,531,050 654,191,360 660,935,600
Treasury Shares - Common Primary Issue 0 0 0 20,232,720 13,488,480
Treasury Shares - Common Issue2 0 363,130 660,310 -- --

Source: Reuters Publication Date: 10-Aug-2010

Cash Flow - Annual

Cash Flow - Annual

Period End Date 31-Dec-2009 31-Dec-2008 31-Dec-2007 31-Dec-2006 31-Dec-2005

Update Type/Date Normal Normal Reclassified Reclassified Normal
17-Mar-2010 18-Mar-2009 18-Mar-2009 18-Mar-2008 15-Mar-2006
Auditor/Accountant KPMG LLP KPMG LLP KPMG LLP KPMG LLP KPMG LLP
Accounting Standard International International International International International
Financial Financial Financial Financial Financial
Reporting Reporting Reporting Reporting Reporting
Stand. Stand. Stand. Stand. Stand.
Annual Cash Flow Statement: (EUR, In millions)
Net Income 210.00 330.00 3,134.00 2,874.00 2,239.00
Depreciation 3,603.00 3,676.00 3,689.00 3,340.00 3,025.00
Accumulated Depreciation and Depletion 3,603.00 3,676.00 3,689.00 3,340.00 3,025.00
Deferred Taxes (95.00) (51.00) (256.00) 242.00 236.00
Unusual Items 5,441.00 6,742.00 4,517.00 3,740.00 3,342.00
Equity in Net Earnings Loss (36.00) (26.00) (11.00) 25.00 (14.00)
Other Non-Cash Items 356.00 167.00 1,334.00 318.00 940.00
Cash Taxes Paid 349.00 448.00 817.00 733.00 604.00
Cash Interest Paid 224.00 312.00 389.00 328.00 240.00
Accounts Receivable 506.00 859.00 398.00 (611.00) (239.00)
Inventories 855.00 37.00 (700.00) (265.00) 187.00
Accounts Payable 441.00 (485.00) 571.00 1,050.00 975.00
Other Assets and Liabilities, Net (894.00) -- -- -- --
Other Operating Cash Flow (116.00) (377.00) (493.00) (733.00) --
Changes in Working Capital 792.00 34.00 (224.00) (559.00) 923.00

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Cash from Operating Activities 10,271.00 10,872.00 12,183.00 9,980.00 10,691.00

Purchase of Fixed Assets (3,471.00) (4,204.00) (4,267.00) (4,313.00) (3,875.00)
Capital Expenditures (3,471.00) (4,204.00) (4,267.00) (4,313.00) (3,875.00)
Sale of Business -- -- -- 0.00 1,000.00
Sale of Fixed Assets 169.00 177.00 272.00 39.00 42.00
Sale/Maturity of Investment 635.00 5,301.00 2,593.00 2,787.00 394.00
Purchase of Investments (2,961.00) (5,534.00) (2,742.00) (2,683.00) (529.00)
Other Investing Cash Flow (5,700.00) (14,392.00) (13,104.00) (9,500.00) (8,995.00)
Other Investing Cash Flow Items, Total (7,857.00) (14,448.00) (12,981.00) (9,357.00) (8,088.00)
Cash from Investing Activities (11,328.00) (18,652.00) (17,248.00) (13,670.00) (11,963.00)
Other Financing Cash Flow (217.00) (312.00) (389.00) -- --
Financing Cash Flow Items (217.00) (312.00) (389.00) -- --
Cash Dividends Paid - Common Stock (197.00) (694.00) (458.00) (419.00) (419.00)
Cash Dividends Paid (197.00) (694.00) (458.00) (419.00) (419.00)
Repurchase/Retirement, Common -- (10.00) 0.00 (253.00) (506.00)
Common Stock, Net -- (10.00) 0.00 (253.00) (506.00)
Sale/Issuance of Common/Preferred Stock 6.00 -- -- -- --
Issuance (Retirement) of Stock, Net 6.00 (10.00) 0.00 (253.00) (506.00)
Long Term Debt Issued 9,762.00 9,959.00 6,038.00 6,876.00 5,819.00
Long Term Debt Reduction (6,440.00) (5,080.00) (4,152.00) (4,491.00) (3,432.00)
Long Term Debt, Net 1,760.00 13,920.00 7,015.00 3,995.00 1,624.00
Issuance (Retirement) of Debt, Net 1,760.00 13,920.00 7,015.00 3,995.00 1,624.00
Cash from Financing Activities 1,352.00 12,904.00 6,168.00 3,323.00 699.00
Foreign Exchange Effects 18.00 (63.00) (46.00) 82.00 66.00
Net Change in Cash 313.00 5,061.00 1,057.00 (285.00) (507.00)
Net Cash - Beginning Balance 7,454.00 2,393.00 1,336.00 1,621.00 2,128.00
Net Cash - Ending Balance 7,767.00 7,454.00 2,393.00 1,336.00 1,621.00
Cash Interest Paid, Supplemental 224.00 312.00 389.00 328.00 240.00
Cash Taxes Paid, Supplemental 349.00 448.00 817.00 733.00 604.00

Source: Reuters Publication Date: 10-Aug-2010

Income Statement - Annual

Income Statement - Annual

Period End Date 31-Dec-2009 31-Dec-2008 31-Dec-2007 31-Dec-2006 31-Dec-2005

Update Type/Date Normal Reclassified Normal Reclassified Normal
17-Mar-2010 17-Mar-2010 18-Mar-2008 18-Mar-2008 15-Mar-2006
Auditor/Accountant KPMG LLP KPMG LLP KPMG LLP KPMG LLP KPMG LLP
Accounting Standard International International International International International
Financial Financial Financial Financial Financial
Reporting Reporting Reporting Reporting Reporting
Stand. Stand. Stand. Stand. Stand.
Annual Income Statement: (EUR, In millions)
Net Sales 50,681.00 53,197.00 56,018.00 48,999.00 46,656.00
Total Revenue 50,681.00 53,197.00 56,018.00 48,999.00 46,656.00
Cost of Revenue 45,356.00 47,148.00 43,832.00 37,660.00 35,992.00
Gross Profit 5,325.00 6,049.00 12,186.00 11,339.00 10,664.00
Selling, General and Administrative Expense 5,040.00 5,369.00 5,254.00 4,972.00 4,762.00
Research and Development 2,587.00 2,825.00 2,920.00 2,544.00 2,464.00
Impairment-Assets Held for Use 72.00 167.00 49.00 2.00 10.00
Impairment-Assets Held for Sale 3.00 6.00 6.00 30.00 0.00
Loss/Gain on Sale of Assets (84.00) (50.00) -- -- --
Other Operating Expense 719.00 1,135.00 530.00 517.00 --
Other Operating Expense, Net (708.00) (1,370.00) (730.00) (744.00) (355.00)
Total Operating Expense 50,398.00 52,405.00 51,861.00 44,981.00 42,873.00
Operating Income 283.00 792.00 4,157.00 4,018.00 3,783.00
Non Operating Interest Expense (896.00) (711.00) (762.00) (820.00) (800.00)

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Non-Operating Interest Expense, Net (896.00) (711.00) (762.00) (820.00) (800.00)

Non-Operating Interest Income 477.00 325.00 287.00 259.00 363.00
Non-Operating Investment Income 36.00 26.00 14.00 37.00 42.00
Non-Operating Interest/Investment Income 513.00 351.00 301.00 296.00 405.00
Other Non-Operating Income 513.00 (81.00) 177.00 630.00 (101.00)
Other Non-Operating Income, Net 513.00 (81.00) 177.00 630.00 (101.00)
Income Before Tax 413.00 351.00 3,873.00 4,124.00 3,287.00
Total Income Tax 203.00 21.00 739.00 1,250.00 1,048.00
Income After Tax 210.00 330.00 3,134.00 2,874.00 2,239.00
Minority Interest (6.00) (6.00) (8.00) (6.00) --
Net Income Before Extraordinary Items 204.00 324.00 3,126.00 2,868.00 2,239.00
Net Income 204.00 324.00 3,126.00 2,868.00 2,239.00
Income Available to Common Excl. Extraordinary 204.00 324.00 3,126.00 2,868.00 2,239.00
Items
Income Available to Common Incl. Extraordinary 204.00 324.00 3,126.00 2,868.00 2,239.00
Items
Basic Weighted Average Shares 653.83 653.29 653.53 653.97 671.30
Basic EPS excluding Extraordinary Items 0.31 0.50 4.78 4.39 3.34
Basic EPS including Extraordinary Items 0.31 0.50 4.78 4.39 3.34
Dilution Adjustment -- -- -- -- 0.00
Diluted Net Income 204.00 324.00 3,126.00 2,868.00 2,239.00
Diluted Weighted Average Shares 653.83 653.29 653.53 653.97 671.30
Diluted EPS excluding Extrordinary Items 0.31 0.50 4.78 4.39 3.34
Diluted EPS including Extraordinary Items 0.31 0.50 4.78 4.39 3.34
Dividends per Share - Common Stock, 0.30 0.30 1.06 0.70 0.64
PrimaryIssue
Dividends per Share - Common Stock, Issue2 0.00 0.00 0.00 0.00 0.00
Gross Dividends - Common Stock 197.00 197.00 694.00 458.00 424.00
Interest Expense, Supplemental 364.00 161.00 225.00 319.00 318.00
Depreciation, Supplemental 2,260.00 2,375.00 2,471.00 2,313.00 2,212.00
Total Special Items (9.00) 123.00 55.00 32.00 10.00
Normalized Income Before Tax 404.00 474.00 3,928.00 4,156.00 3,297.00
Effect of Special Items on Income Taxes (4.42) 7.36 10.49 9.70 3.19
Income Taxes Excl. Impact of Special Items 198.58 28.36 749.49 1,259.70 1,051.19
Normalized Income After Taxes 205.42 445.64 3,178.51 2,896.30 2,245.81
Normalized Income Available To Common 199.42 439.64 3,170.51 2,890.30 2,245.81
Basic Normalized EPS 0.31 0.67 4.85 4.42 3.35
Diluted Normalized EPS 0.31 0.67 4.85 4.42 3.35
Amortization of Intangibles, Supplemental 1,340.00 1,295.00 1,212.00 959.00 813.00
Rental Expenses -- -- 61.00 77.00 79.00

Source: Reuters Publication Date: 10-Aug-2010

Balance Sheet - Interim/Quarterly

Balance Sheet - Interim/Quarterly

Period End Date 30-Jun-2010 31-Mar-2010 31-Dec-2009 30-Sep-2009 30-Jun-2009

Update Type/Date Normal Normal Normal Normal Normal
03-Aug-2010 05-May-2010 17-Mar-2010 03-Nov-2009 04-Aug-2009
Number of Employees 95,502 95,787 96,230 98,358 98,261
Accounting Standard International International International International International
Financial Financial Financial Financial Financial
Reporting Reporting Reporting Reporting Reporting
Stand. Stand. Stand. Stand. Stand.
Interim Balance Sheet: (EUR, In millions)
Cash and Equivalents 8,037.00 8,043.00 7,767.00 8,423.00 10,793.00
Short Term Investments 2,958.00 3,126.00 3,215.00 3,221.00 2,505.00
Cash and Short Term Investments 10,995.00 11,169.00 10,982.00 11,644.00 13,298.00
Trade Accounts Receivable, Net 2,475.00 2,283.00 1,857.00 2,198.00 2,349.00

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 Dow Jones Company Report for Bayerische Motoren Werke AG

Other Receivables 18,361.00 17,248.00 17,116.00 15,541.00 15,984.00

Total Receivables, Net 20,836.00 19,531.00 18,973.00 17,739.00 18,333.00
Inventories - Finished Goods 6,798.00 5,960.00 -- -- --
Inventories - Work in Progress 567.00 611.00 542.00 831.00 791.00
Inventories - Raw Materials 608.00 618.00 536.00 569.00 541.00
Inventories - Other -- -- 5,477.00 6,003.00 5,474.00
Total Inventory 7,973.00 7,189.00 6,555.00 7,403.00 6,806.00
Other Current Assets 3,531.00 3,326.00 3,434.00 3,174.00 3,150.00
Other Current Assets, Total 3,531.00 3,326.00 3,434.00 3,174.00 3,150.00
Total Current Assets 43,335.00 41,215.00 39,944.00 39,960.00 41,587.00
Property/Plant/Equipment, Net 11,203.00 11,220.00 11,385.00 11,135.00 11,309.00
Goodwill, Net 111.00 111.00 -- -- --
Intangibles, Net 5,031.00 5,158.00 5,379.00 5,400.00 5,494.00
Long Term Investment - Affiliate Companies 317.00 393.00 369.00 432.00 389.00
Other Long Term Investments 1,516.00 1,505.00 1,519.00 1,721.00 1,553.00
Total Long Term Investments 1,833.00 1,898.00 1,888.00 2,153.00 1,942.00
Notes Receivable - Long Term 25,982.00 24,537.00 23,478.00 23,033.00 22,927.00
Deferred Income Tax - Long Term Asset 1,663.00 1,306.00 1,266.00 1,058.00 1,020.00
Other Long Term Assets 19,457.00 18,616.00 18,613.00 18,649.00 19,341.00
Other Long Term Assets, Total 21,120.00 19,922.00 19,879.00 19,707.00 20,361.00
Total Assets 108,615.00 104,061.00 101,953.00 101,388.00 103,620.00
Accounts Payable 4,548.00 3,885.00 3,122.00 3,787.00 3,346.00
Notes Payable/Short Term Debt 24,183.00 23,643.00 26,934.00 24,415.00 27,983.00
Income Taxes Payable 667.00 467.00 836.00 672.00 876.00
Other Current Liabilities 6,971.00 6,385.00 6,027.00 5,860.00 5,737.00
Other Current Liabilities, Total 7,638.00 6,852.00 6,863.00 6,532.00 6,613.00
Total Current Liabilities 36,369.00 34,380.00 36,919.00 34,734.00 37,942.00
Long-Term Debt 40,488.00 38,732.00 34,391.00 36,494.00 34,028.00
Total Long Term Debt 40,488.00 38,732.00 34,391.00 36,494.00 34,028.00
Total Debt 64,671.00 62,375.00 61,325.00 60,909.00 62,011.00
Deferred Income Tax - Long Term Liability 3,019.00 2,777.00 2,769.00 2,711.00 2,766.00
Total Deferred Income Tax 3,019.00 2,777.00 2,769.00 2,711.00 2,766.00
Minority Interest 17.00 16.00 13.00 13.00 11.00
Reserves 2,636.00 2,724.00 2,706.00 2,470.00 2,522.00
Pension Benefits - Underfunded 3,235.00 3,290.00 2,972.00 2,612.00 3,671.00
Other Long Term Liabilities 2,650.00 2,249.00 2,281.00 2,428.00 2,529.00
Other Liabilities, Total 8,521.00 8,263.00 7,959.00 7,510.00 8,722.00
Total Liabilities 88,414.00 84,168.00 82,051.00 81,462.00 83,469.00
Common Stock 655.00 655.00 655.00 654.00 654.00
Total Common Stock 655.00 655.00 655.00 654.00 654.00
Additional Paid-In Capital 1,921.00 1,921.00 1,921.00 1,911.00 1,911.00
Retained Earnings 21,383.00 20,749.00 20,426.00 20,264.00 20,188.00
Treasury Stock - Common -- -- 0.00 (10.00) (10.00)
Other Equity (3,758.00) (3,432.00) (3,100.00) (2,893.00) (2,592.00)
Other Equity, Total (3,758.00) (3,432.00) (3,100.00) (2,893.00) (2,592.00)
Total Stockholders' Equity 20,201.00 19,893.00 19,902.00 19,926.00 20,151.00
Total Liabilities and Shareholders Equity 108,615.00 104,061.00 101,953.00 101,388.00 103,620.00
Shares Outstanding - Common Stock, Primary 601,995,200 601,995,200 601,995,200 601,995,200 601,995,200
Issue
Shares Outstanding - Common Stock, Issue2 52,665,360 52,665,360 52,665,360 51,833,030 51,833,030
Total Common Shares Outstanding 654,660,560 654,660,560 654,660,560 653,828,230 653,828,230
Treasury Shares - Common Primary Issue 0 0 0 0 0
Treasury Shares - Common Issue2 0 0 0 363,130 363,130

Source: Reuters Publication Date: 10-Aug-2010

Cash Flow - Interim/Quarterly

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 Dow Jones Company Report for Bayerische Motoren Werke AG

Cash Flow - Interim/Quarterly

Period End Date 30-Jun-2010 31-Mar-2010 31-Dec-2009 30-Sep-2009 30-Jun-2009

Update Type/Date Normal Normal Normal Normal Normal
03-Aug-2010 05-May-2010 17-Mar-2010 03-Nov-2009 04-Aug-2009
Accounting Standard International International International International International
Financial Financial Financial Financial Financial
Reporting Reporting Reporting Reporting Reporting
Stand. Stand. Stand. Stand. Stand.
Interim Cash Flow Statement: (EUR, In millions)
Net Income 1,158.00 324.00 210.00 47.00 (31.00)
Depreciation 2,466.00 930.00 3,603.00 2,647.00 2,848.00
Accumulated Depreciation and Depletion 2,466.00 930.00 3,603.00 2,647.00 2,848.00
Deferred Taxes 333.00 138.00 (95.00) (56.00) (40.00)
Unusual Items -- -- (35.00) -- --
Equity in Net Earnings Loss -- -- (36.00) -- --
Other Non-Cash Items 1,641.00 867.00 5,719.00 3,292.00 1,300.00
Accounts Receivable -- -- 506.00 -- --
Inventories -- -- 855.00 -- --
Accounts Payable -- -- 441.00 -- --
Other Assets and Liabilities, Net 0.00 (360.00) (894.00) 1,304.00 992.00
Other Operating Cash Flow -- -- (3.00) -- --
Changes in Working Capital 0.00 (360.00) 905.00 1,304.00 992.00
Cash from Operating Activities 5,598.00 1,899.00 10,271.00 7,234.00 5,069.00
Purchase of Fixed Assets (1,153.00) (586.00) (3,471.00) (2,248.00) (1,498.00)
Capital Expenditures (1,153.00) (586.00) (3,471.00) (2,248.00) (1,498.00)
Net Investment (2,029.00) (658.00) (3,918.00) (2,703.00) (1,899.00)
Other Investing Cash Flow (364.00) (1.00) (3,939.00) (2,069.00) (136.00)
Other Investing Cash Flow Items, Total (2,393.00) (659.00) (7,857.00) (4,772.00) (2,035.00)
Cash from Investing Activities (3,546.00) (1,245.00) (11,328.00) (7,020.00) (3,533.00)
Other Financing Cash Flow (2,165.00) (520.00) 1,352.00 773.00 1,768.00
Financing Cash Flow Items (2,165.00) (520.00) 1,352.00 773.00 1,768.00
Cash from Financing Activities (2,165.00) (520.00) 1,352.00 773.00 1,768.00
Foreign Exchange Effects 383.00 142.00 18.00 (18.00) 35.00
Net Change in Cash 270.00 276.00 313.00 969.00 3,339.00
Net Cash - Beginning Balance 7,767.00 7,767.00 7,454.00 7,454.00 7,454.00
Net Cash - Ending Balance 8,037.00 8,043.00 7,767.00 8,423.00 10,793.00

Source: Reuters Publication Date: 10-Aug-2010

Income Statement - Interim/Quarterly

Income Statement - Interim/Quarterly

Period End Date 30-Jun-2010 31-Mar-2010 31-Dec-2009 30-Sep-2009 30-Jun-2009

Update Type/Date Normal Normal Normal Normal Normal
03-Aug-2010 05-May-2010 17-Mar-2010 03-Nov-2009 04-Aug-2009
Accounting Standard International International International International International
Financial Financial Financial Financial Financial
Reporting Reporting Reporting Reporting Reporting
Stand. Stand. Stand. Stand. Stand.
Interim Income Statement: (EUR, In millions)
Net Sales 15,348.00 12,443.00 14,442.00 11,759.00 12,971.00
Total Revenue 15,348.00 12,443.00 14,442.00 11,759.00 12,971.00
Cost of Revenue 12,084.00 10,758.00 12,998.00 10,458.00 11,443.00
Gross Profit 3,264.00 1,685.00 1,444.00 1,301.00 1,528.00
Selling, General and Administrative Expense 1,428.00 1,213.00 1,306.00 1,275.00 1,349.00
Research and Development 746.00 678.00 716.00 614.00 650.00
Other Operating Expense 227.00 288.00 265.00 125.00 179.00

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 Dow Jones Company Report for Bayerische Motoren Werke AG

Other Operating Expense, Net (108.00) (265.00) (247.00) (154.00) (169.00)

Total Operating Expense 13,631.00 11,994.00 14,322.00 11,704.00 12,802.00
Operating Income 1,717.00 449.00 120.00 55.00 169.00
Non Operating Interest Expense (196.00) (240.00) (322.00) (245.00) (223.00)
Non-Operating Interest Expense, Net (196.00) (240.00) (322.00) (245.00) (223.00)
Non-Operating Interest Income 61.00 229.00 268.00 229.00 186.00
Non-Operating Investment Income 7.00 4.00 13.00 9.00 8.00
Non-Operating Interest/Investment Income 68.00 233.00 281.00 238.00 194.00
Other Non-Operating Income (290.00) 66.00 255.00 78.00 11.00
Other Non-Operating Income, Net (290.00) 66.00 255.00 78.00 11.00
Income Before Tax 1,299.00 508.00 334.00 126.00 151.00
Total Income Tax 465.00 184.00 171.00 48.00 30.00
Income After Tax 834.00 324.00 163.00 78.00 121.00
Minority Interest (3.00) (1.00) (1.00) (2.00) (2.00)
Net Income Before Extraordinary Items 831.00 323.00 162.00 76.00 119.00
Net Income 831.00 323.00 162.00 76.00 119.00
Income Available to Common Excl. Extraordinary 831.00 323.00 162.00 76.00 119.00
Items
Income Available to Common Incl. Extraordinary 831.00 323.00 162.00 76.00 119.00
Items
Basic Weighted Average Shares 654.66 654.66 653.83 653.83 653.83
Basic EPS excluding Extraordinary Items 1.27 0.49 0.25 0.12 0.18
Basic EPS including Extraordinary Items 1.27 0.49 0.25 0.12 0.18
Diluted Net Income 831.00 323.00 162.00 76.00 119.00
Diluted Weighted Average Shares 654.66 654.66 653.83 653.83 653.83
Diluted EPS excluding Extrordinary Items 1.27 0.49 0.25 0.12 0.18
Diluted EPS including Extraordinary Items 1.27 0.49 0.25 0.12 0.18
Dividends per Share - Common Stock, 0.00 0.00 0.30 0.00 0.00
PrimaryIssue
Dividends per Share - Common Stock, Issue2 0.00 0.00 0.00 0.00 0.00
Gross Dividends - Common Stock 0.00 0.00 197.00 0.00 0.00
Interest Expense, Supplemental 196.00 240.00 322.00 245.00 223.00
Depreciation, Supplemental 573.00 580.00 596.00 571.00 542.00
Normalized Income Before Tax 1,299.00 508.00 334.00 126.00 151.00
Income Taxes Excl. Impact of Special Items 465.00 184.00 171.00 48.00 30.00
Normalized Income After Taxes 834.00 324.00 163.00 78.00 121.00
Normalized Income Available To Common 831.00 323.00 162.00 76.00 119.00
Basic Normalized EPS 1.27 0.49 0.25 0.12 0.18
Diluted Normalized EPS 1.27 0.49 0.25 0.12 0.18
Amortization of Intangibles, Supplemental 318.00 322.00 441.00 312.00 299.00

Source: Reuters Publication Date: 10-Aug-2010

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