Statement of Comprehensive Income

Changes in comprehensive income for the period January 1 to December 31, 2019

€ million

 

Total

 

Equity attributable to Volkswagen AG shareholders

 

Equity attributable to Volkswagen AG hybrid capital investors

 

Equity attribu­table to non­controlling interests

 

 

 

 

 

 

 

 

 

Earnings after tax

 

14,029

 

13,346

 

540

 

143

Pension plan remeasurements recognized in other comprehensive income

 

 

 

 

 

 

 

 

Pension plan remeasurements recognized in other comprehensive income, before tax

 

−8,011

 

−7,993

 

 

−18

Deferred taxes relating to pension plan remeasurements recognized in other comprehensive income

 

2,429

 

2,423

 

 

6

Pension plan remeasurements recognized in other comprehensive income, net of tax

 

−5,582

 

−5,570

 

 

−11

Fair Value valuation of equity instruments that will not be reclassified to profit or loss, net of tax

 

−27

 

−26

 

 

−1

Share of other comprehensive income of equity-accounted investments that will not be reclassified to profit or loss, net of tax

 

−3

 

−1

 

 

−2

Items that will not be reclassified to profit or loss

 

−5,612

 

−5,597

 

 

−15

Exchange differences on translating foreign operations

 

 

 

 

 

 

 

 

Gains/losses on currency translation recognized in other comprehensive income

 

572

 

565

 

 

7

Transferred to profit or loss

 

2

 

2

 

 

0

Exchange differences on translating foreign operations, before tax

 

574

 

567

 

 

7

Deferred taxes relating to exchange differences on translating foreign operations

 

12

 

12

 

 

Exchange differences on translating foreign operations, net of tax

 

586

 

579

 

 

7

Hedging

 

 

 

 

 

 

 

 

Fair value changes recognized in other comprehensive income (OCI I)

 

−1,622

 

−1,618

 

 

−4

Transferred to profit or loss (OCI I)

 

−782

 

−784

 

 

2

Cash flow hedges (OCI I), before tax

 

−2,404

 

−2,402

 

 

−2

Deferred taxes relating to cash flow hedges (OCI I)

 

708

 

707

 

 

1

Cash flow hedges (OCI I), net of tax

 

−1,697

 

−1,695

 

 

−1

Fair value changes recognized in other comprehensive income (OCI II)

 

−1,490

 

−1,490

 

 

0

Transferred to profit or loss (OCI II)

 

997

 

996

 

 

1

Cash flow hedges (OCI II), before tax

 

−493

 

−494

 

 

1

Deferred taxes relating to cash flow hedges (OCI II)

 

146

 

146

 

 

0

Cash flow hedges (OCI II), net of tax

 

−347

 

−348

 

 

1

Fair value valuation of debt instruments that may be reclassified to profit or loss

 

 

 

 

 

 

 

 

Fair value changes recognized in other comprehensive income

 

23

 

23

 

 

Transferred to profit or loss

 

1

 

1

 

 

Fair value valuation of debt instruments that may be reclassified to profit or loss, before tax

 

24

 

24

 

 

Deferred taxes relating to fair value valuation of debt instruments recognized in other comprehensive income

 

−7

 

−7

 

 

Fair value valuation of debt instruments that may be reclassified to profit or loss, net of tax

 

17

 

17

 

 

Share of other comprehensive income of equity-accounted investments that may be reclassified to profit or loss, net of tax

 

78

 

77

 

 

1

Items that may be reclassified to profit or loss

 

−1,363

 

−1,370

 

 

7

Other comprehensive income, before tax

 

−10,263

 

−10,248

 

 

−14

Deferred taxes relating to other comprehensive income

 

3,288

 

3,282

 

 

7

Other comprehensive income, net of tax

 

−6,974

 

−6,967

 

 

−8

Total comprehensive income

 

7,055

 

6,379

 

540

 

136

Changes in comprehensive income for the period January 1 to December 31, 2020

€ million

 

Total

 

Equity attributable to Volkswagen AG shareholders

 

Equity attributable to Volkswagen AG hybrid capital investors

 

Equity attribu­table to non­controlling interests

 

 

 

 

 

 

 

 

 

Earnings after tax

 

8,824

 

8,334

 

533

 

−43

Pension plan remeasurements recognized in other comprehensive income

 

 

 

 

 

 

 

 

Pension plan remeasurements recognized in other comprehensive income, before tax

 

−2,871

 

−2,861

 

 

−9

Deferred taxes relating to pension plan remeasurements recognized in other comprehensive income

 

930

 

928

 

 

2

Pension plan remeasurements recognized in other comprehensive income, net of tax

 

−1,940

 

−1,933

 

 

−7

Fair Value valuation of equity instruments that will not be reclassified to profit or loss, net of tax

 

−6

 

−6

 

 

1

Share of other comprehensive income of equity-accounted investments that will not be reclassified to profit or loss, net of tax

 

61

 

55

 

 

6

Items that will not be reclassified to profit or loss

 

−1,885

 

−1,885

 

 

0

Exchange differences on translating foreign operations

 

 

 

 

 

 

 

 

Gains/losses on currency translation recognized in other comprehensive income

 

−2,883

 

−2,846

 

 

−37

Transferred to profit or loss

 

16

 

16

 

 

0

Exchange differences on translating foreign operations, before tax

 

−2,868

 

−2,830

 

 

−37

Deferred taxes relating to exchange differences on translating foreign operations

 

−6

 

−6

 

 

Exchange differences on translating foreign operations, net of tax

 

−2,874

 

−2,836

 

 

−37

Hedging

 

 

 

 

 

 

 

 

Fair value changes recognized in other comprehensive income (OCI I)

 

2,866

 

2,872

 

 

−6

Transferred to profit or loss (OCI I)

 

−1,122

 

−1,126

 

 

4

Cash flow hedges (OCI I), before tax

 

1,744

 

1,746

 

 

−2

Deferred taxes relating to cash flow hedges (OCI I)

 

−553

 

−553

 

 

1

Cash flow hedges (OCI I), net of tax

 

1,191

 

1,192

 

 

−1

Fair value changes recognized in other comprehensive income (OCI II)

 

−799

 

−799

 

 

0

Transferred to profit or loss (OCI II)

 

1,178

 

1,178

 

 

0

Cash flow hedges (OCI II), before tax

 

378

 

379

 

 

0

Deferred taxes relating to cash flow hedges (OCI II)

 

−110

 

−110

 

 

0

Cash flow hedges (OCI II), net of tax

 

268

 

269

 

 

0

Fair value valuation of debt instruments that may be reclassified to profit or loss

 

 

 

 

 

 

 

 

Fair value changes recognized in other comprehensive income

 

38

 

38

 

 

Transferred to profit or loss

 

1

 

1

 

 

Fair value valuation of debt instruments that may be reclassified to profit or loss, before tax

 

39

 

39

 

 

Deferred taxes relating to fair value valuation of debt instruments recognized in other comprehensive income

 

−12

 

−12

 

 

Fair value valuation of debt instruments that may be reclassified to profit or loss, net of tax

 

27

 

27

 

 

Share of other comprehensive income of equity-accounted investments that may be reclassified to profit or loss, net of tax

 

−304

 

−297

 

 

−6

Items that may be reclassified to profit or loss

 

−1,690

 

−1,645

 

 

−45

Other comprehensive income, before tax

 

−3,825

 

−3,777

 

 

−48

Deferred taxes relating to other comprehensive income

 

250

 

247

 

 

3

Other comprehensive income, net of tax

 

−3,575

 

−3,530

 

 

−45

Total comprehensive income

 

5,249

 

4,804

 

533

 

−88