Automotive   |   Mercedes-Benz Group AG
Annual Financial Statements 2018  
Daimler AG  
Cover:  
The EQC (combined electricity consumption: 22.2 kWh/100 km;  
1
combined CO emissions: 0 g/km, preliminary figures) will be  
2
the first Mercedes-Benz model of the EQ brand on the road.  
With its seamless, clear design and brand-typical color accents,  
it is the pioneer of avant-garde electro-aesthetics. In terms of  
quality, safety and comfort, the EQC is the Mercedes-Benz  
among electric vehicles. It convinces in the sum of its character-  
istics, in particular with its impressive driving dynamics  
1
and a range of up to 450 kilometers according to NEDC.  
1
Figures on electricity consumption and CO emissions are  
2
provisional and were determined by an external technical  
service and are non-binding. Figures for range are also provi-  
sional and non-binding. An EU type approval and certificate  
of conformity with official figures are not yet available. Devia-  
tions between  
Daimler AG  
Annual Financial Statements 2018  
The Management Report of Daimler AG is combined with the Group Management  
Report in accordance with Section 315 Subsection 5 of the German Commercial  
Code (HGB) and is published in the Daimler Group’s Annual Report 2018.  
The Annual Financial Statements and the combined Management Report  
for Daimler AG and the Daimler Group for the year 2018 are filed with the operator  
of the German Federal Gazette and published in the German Federal Gazette.  
The Annual Financial Statements of Daimler AG and the Daimler Group’s Annual  
Report 2018 can be found on our website at  
reports-news/ꢀ.  
w www.daimler.com/investors/  
ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | CONTENTSꢀ 5  
Contents  
Aꢁ| Balance Sheet of Daimler AG  
6
7
Other Notes  
Personnel expenses/Employees  
Cost of materials  
Derivative financial instruments and  
valuation units  
Contingent liabilities  
22 – 49  
22  
22  
Bꢁ| Income Statement of Daimler AG  
22  
25  
25  
Cꢁ| Notes to the Financial Statements  
of Daimler AG  
Other financial obligations  
8 – 49  
Related party relationships pursuant to  
Section 285 No. 21 of the German  
Commercial Code (HGB)  
Accounting policies and methods  
Recognition and measurement  
Schedule of non-current assets  
8
8
11  
26  
26  
Legal proceedings  
Remuneration of the members of the Board  
of Management and the Supervisory Board  
Disclosures pursuant to  
Sectionꢁ160 Subsectionꢁ1 No. 8 of the  
German Stock Corporation Act (AktG)  
Declaration of compliance with the German  
Corporate Governance Code  
Members of the Board of Management  
and their mandates  
30  
Notes to the Balance Sheet  
Intangible assets  
Property, plant and equipment  
Financial assets  
Inventories  
Receivables and other assets  
Securities  
Cash and cash equivalents  
Prepaid expenses  
Equity  
Dividend  
12 – 18  
12  
12  
12  
12  
12  
13  
13  
13  
13  
15  
15  
32  
33  
34  
Members of the Supervisory Board  
and their mandates  
Statement of investments  
36  
39  
Share-based payment  
Provisions for pensions and similar obligations  
Dꢁ| Board of Management  
50  
51  
(
prior year: Net defined-benefit plan asset)  
16  
17  
18  
18  
Other provisions  
Liabilities  
Eꢁ| Responsibility Statement  
Fꢁ| Independent Auditor’s Report  
Deferred income  
52 – 57  
Notes to the Income Statement  
19 – 21  
Revenue  
Functional costs  
19  
19  
20  
20  
Other operating income  
Other operating expenses  
Income/expense from investments in subsidiaries  
and associated companies, net  
Interest income/expense, net  
Other financial income/expense, net  
Income taxes  
20  
21  
21  
21  
21  
Net profit  
6A | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | BALANCE SHEET OF DAIMLER AG  
Balance Sheet of Daimler AG  
Assets  
Notes  
Dec. 31, 2018  
Dec. 31, 2017  
In millions of euros  
Non-current assets  
Intangible assets  
(1)  
(2)  
(3)  
1,587  
9,528  
43,977  
1,440  
9,142  
Property, plant and equipment  
Financial assets  
32,118  
42,700  
5
5,092  
Current assets  
Inventories  
(4)  
(5)  
(5)  
(5)  
(6)  
(7)  
10,524  
2,781  
29,817  
4,908  
7,278  
6,354  
9,466  
2,812  
35,215  
3,827  
7,662  
1,782  
60,764  
Trade receivables  
Receivables from subsidiaries  
Other receivables and other assets  
Securities  
Cash and cash equivalents  
6
1,662  
406  
-
Prepaid expenses  
(8)  
384  
3,462  
Net defined-benefit plan asset  
(10)  
1
17,160  
107,310  
Equity and liabilities  
Notes  
(9a)  
Dec. 31, 2018  
3,070  
Dec. 31, 2017  
3,070  
In millions of euros  
Equity  
Share capital  
(conditional capital €500 million)  
Capital reserve  
(9b)  
(9c)  
(9d)  
11,480  
25,182  
3,477  
11,480  
23,637  
3,905  
Retained earnings  
Distributable profit  
4
3,209  
42,092  
Provisions  
Provisions for pensions and similar obligations  
Other provisions  
(10)  
(11)  
838  
15,595  
6,433  
-
13,981  
13,981  
1
Liabilities  
Trade payables  
Liabilities to subsidiaries  
Other liabilities  
(12)  
(12)  
(12)  
7,210  
18,838  
30,394  
6,499  
7,425  
36,413  
50,337  
5
6,442  
Deferred income  
(13)  
1,076  
900  
1
17,160  
107,310  
B | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | INCOME STATEMENT OF DAIMLER AGꢀ 7  
Income Statement of Daimler AG  
Notes  
2018  
2017  
In millions of euros  
Revenue  
Cost of sales  
(14)  
(15)  
112,491  
-103,232  
112,685  
-ꢁ101,874  
Gross profit  
Selling expenses  
9,259  
-7,904  
-2,304  
1,372  
-1,664  
11,337  
-4,202  
183  
10,811  
-ꢁ7,312  
-ꢁ2,010  
778  
(15)  
(15)  
(16)  
(17)  
(18)  
(19)  
(20)  
(21)  
General administrative expenses  
Other operating income  
Other operating expenses  
-ꢁ1,133  
6,785  
-ꢁ967  
Income/expense from investments in subsidiaries and associated companies, net  
Interest income/expense, net  
Other financial income/expense, net  
Income taxes  
48  
-1,055  
-ꢁ2,018  
Profit after taxes/Net profit  
Transfer to retained earnings  
Distributable profit  
(22)  
5,022  
-1,545  
3,477  
4,982  
-ꢁ1,077  
3,905  
8
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE FINANCIAL STATEMENTS OF DAIMLER AG  
Notes to the Financial Statements of Daimler AG  
Accounting policies and methods  
The production costs of self-constructed assets comprise  
direct costs as well as prorated material and production over-  
heads, including depreciation, to the extent that they are  
Daimler AG is entered in the Commercial Register of the  
Stuttgart District Court under No. HRBꢀ19360 and its registered caused by the production process.  
office is located at Mercedesstraßeꢀ137, 70327 Stuttgart,  
Germany.  
Systematic straight-line depreciation for technical equipment  
and machinery, other equipment and operating and office  
The financial statements of Daimler AG have been prepared in equipment is based on a useful life of 2 to 33 years. Correspond-  
accordance with the accounting principles of the German  
Commercial Code (HGB) and the German Stock Corporation Act  
ingly shorter periods apply for equipment used in multiple shif s.  
(
AktG); the amounts shown are in millions of euros (€) and the  
Impairments are recognized if an asset has to be measured at  
a lower value.  
comparable figures for the year ended December 31, 2017 are  
also shown. The items summarized in the balance sheet and  
the income statement are listed individually and explained in  
these notes.  
Assets with costs of acquisition or production of up to €1,000  
are immediately expensed.  
For the sake of clarity, the system of presentation has been  
modified in accordance with Section 266 of the HGB. Other  
receivables and other assets comprise receivables from  
associated companies and other assets. Other provisions com-  
prise provisions for taxes and miscellaneous provisions. Other  
liabilities comprise liabilities to associated companies, loans  
and bonds, liabilities to banks and miscellaneous liabilities.  
Leased assets are measured at cost of acquisition or produc-  
tion and are systematically depreciated on a straight-line basis  
over a useful life of 3 to 9 years.  
For the sake of better clarity, the item of leased assets has been  
added to the schedule of non-current assets under property,  
plant and equipment.  
The income statement has been prepared according to the  
internationally predominant cost-of-sales method. The system  
of presentation according to Section 275 of the HGB has been  
modified to improve clarity with regard to financial activities.  
Financial activities are presented as net income/expense from  
investments in subsidiaries and associated companies, net  
interest income/expense and net other financial income/  
expense.  
Shares in subsidiaries and associated companies and other  
financial assets are measured at cost of acquisition, or, if there  
is an indication of permanent impairment, at the lower fair  
value. If the reasons for permanent impairment are no longer  
given, the impairment is reversed. Loans bearing low interest  
or no interest are measured at their present values. In account-  
ing for non-cash contributions, the exchange principles are  
generally applied and the newly acquired shares are measured  
at the carrying amount of the shares contributed.  
Recognition and measurement  
Raw materials, manufacturing supplies and goods are measured  
at the lower of cost of acquisition or fair value; work in progress  
and finished products are measured at cost of production.  
Intangible assets are measured at cost of acquisition, reduced  
by systematic straight-line amortization. They have a useful life Cost of production comprises production material and labor as  
of between 2 and 30 years.  
well as prorated material and production overheads, including  
depreciation, to the extent that they are caused by the produc-  
tion process. Impairments are recognized if an asset has to be  
measured at a lower value.  
The capitalization option for self-produced intangible assets is  
not utilized. Research and development costs are immediately  
expensed.  
Property, plant and equipment are measured at cost of acquisi-  
tion or production, reduced by systematic depreciation.  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE FINANCIAL STATEMENTS OF DAIMLER AG  
9
Receivables and other assets are measured at their nominal  
Provisions for retirement benefit obligations which at least  
guarantee the contributions paid in are recognized at the fair  
value of the related assets, as this exceeds the guaranteed  
minimum amount. Future claims are related to the fair value of  
values with consideration of all recognizable risks. If they have  
a residual period of more than one year and are non-interest  
bearing, they are discounted to their present value on the  
balance sheet date. General allowances are recognized to reflect the assets (securities or comparable assets).  
general credit risks. Receivables and other assets with a  
residual term of less than one year which are denominated in  
foreign currencies are translated at the spot rates on the  
balance sheet date. Non-current assets denominated in foreign  
currencies are translated at the spot rates on the date when  
booked or at the lower rate on the balance sheet date.  
Assets to which other creditors have no recourse and which  
are solely used to fulfill retirement benefit obligations or  
comparable long-term obligations (special-purpose assets) are  
offset against pension obligations. The offset assets are  
measured at their fair values.  
Securities are measured at the lower of cost of acquisition or  
fair value on the balance sheet date.  
As the fair value of the related special-purpose assets exceeded  
the settlement amount of the obligations at December 31, 2017,  
the excess amount was presented as net defined-benefit plan  
asset in the privious year.  
Payments made prior to the balance sheet date that constitute  
expenses for a specific period af er that date are reported as  
prepaid expenses. Any difference between the settlement  
amount and the lower issue amount of a liability is capitalized  
and amortized systematically over the period of the liability.  
Expenses and income resulting from discounting the retirement  
benefit obligations are offset against the expenses and income  
of the offset assets under net interest income/expense. All  
other components of pension expenses are presented under  
functional costs.  
Deferred taxes are calculated on temporary differences in the  
measurement of assets, liabilities, accruals and deferrals  
between the tax basis and financial reporting according to HGB,  
as well as on tax-loss carryforwards. Tax-loss carryforwards  
can only be taken into account if they can be offset against  
taxable income within the statutory period of five years.  
Deferred taxes are measured based on the combined tax rate  
of 29.825% for the income tax consolidation group of Daimler  
AG. The combined tax rate includes corporate income tax,  
Other provisions are recognized at the required settlement  
amounts in accordance with reasonable commercial judgment.  
Expected future increases in prices and costs until settlement  
of the liabilities are taken into consideration. Provisions with a  
residual period of more than one year are discounted according  
to the net method over that period using the average market  
interest rate of the past seven financial years as published by  
trade tax and the solidarity surcharge. Deferred tax assets and the German central bank (Deutsche Bundesbank). Changes in  
deferred tax liabilities are netted. Any resulting tax liability is  
recorded as a deferred tax liability in the balance sheet. Any  
resulting tax asset is not recognized, in line with the capitaliza-  
tion option.  
the discount rate or interest effects of a changed estimate of the  
residual period are presented under interest income/expense.  
Other provisions include provisions for product warranties,  
whose recognition and measurement generally involves many  
Provisions for pensions and similar obligations for pension plans estimates. Depending on the type of product and market  
which stipulate a predefined benefit during retirement are  
recognized at the required settlement amounts in accordance  
with reasonable commercial judgment. The amounts are  
conditions, various types of product warranties are provided.  
Provisions for product warranties are generally recognized  
when vehicles are sold or when new warranty programs are  
measured using the projected unit credit method. The discount initiated. Based on historical warranty claim experience,  
rate for provisions for retirement benefit obligations is the  
average market interest rate of the past ten financial years as  
published on December 31, 2018 by the German central bank  
assumptions have to be made on the type and extent of future  
warranty claims and customer goodwill, as well as on possible  
recall campaigns for each model series. These assessments  
are based on experience of the frequency and extent of vehicle  
faults and defects in the past. In addition, the estimates also  
include assumptions on the amounts of potential repair costs  
per vehicle and the effects of possible time or mileage limits.  
The provisions are regularly adjusted to reflect new information.  
(
Deutsche Bundesbank) for an assumed residual period ofꢀ15  
years. The discount rate for comparable long-term obligations  
is the average market interest rate of the past seven financial  
years as published on December 31, 2018 by the German  
central bank (Deutsche Bundesbank) for an assumed residual  
period ofꢀ15 years.  
10  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE FINANCIAL STATEMENTS OF DAIMLER AG  
Furthermore, other provisions also include provisions for buy-  
back obligations, whose recognition and measurement generally denominated in foreign currencies with a residual period of  
involves many estimates. DAG sells new and used vehicles, up to one year are translated at the spot rates on the balance  
and in connection with certain sale and repurchase transactions, sheet date. Non-current liabilities denominated in foreign  
Liabilities are measured at their settlement amounts. Liabilities  
commits to buy back those vehicles for a predetermined price  
af er the expiry of a fixed contractual period. A provision is to  
be recognized when the guaranteed repurchase price is higher  
than the expected fair value of the vehicle at the time of repur-  
chase.  
currencies are translated at the spot rates on the date when  
booked or at the higher rate on the balance sheet date.  
Payments received prior to the balance sheet date that con-  
stitute income for a specific period af er that date are reported  
as deferred income.  
Other provisions also include provisions for taxes. For the case  
that the amounts stated in the tax returns might not be realized Daimler AG recognizes revenue from sales of vehicles, spare  
(
uncertain tax positions), the provisions are based on the best  
parts and other related products and services, and from leasing.  
Revenue is recognized net of discounts, cash sales incentives,  
customer bonuses and rebates granted. For transactions with  
multiple deliverables, such as when vehicles are sold with free  
estimate of the expected tax payments.  
In accordance with Section 254 of the HGB, derivative financial  
transactions are linked as a hedging relationship with an under- service programs, Daimler AG allocates revenue to the various  
lying transaction, provided there is a direct hedging context elements based on their objectively and reliably determined  
between the financial transaction and the underlying transaction. fair values. Outstanding elements are recognized in the balance  
Financial transactions for which no units of valuation are  
formed are measured individually at fair value. Any resulting  
unrealized losses are expensed.  
sheet as deferred income.  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE FINANCIAL STATEMENTS OF DAIMLER AG 11  
Schedule of non-current assets  
Cost of acquisition or production  
Depreciation/Amortization/Write-ups  
Reclas-  
Dis- Dec. 31, Dec. 31, Dec. 31,  
posals 2018 2018 2017  
Book value  
Reclas-  
Jan.ꢀ1,  
018  
Addi- sifica-  
Dec. 31,  
2018  
Jan.ꢀ1,  
2018  
Addi-  
tions  
Write-  
ups  
sifica-  
tions  
2
tions  
tions Dis-posals  
In millions of euros  
Intangible assets  
Purchased conces-  
sions, industrial  
property rights and  
similar rights and  
values, as well  
as licenses to such  
rights and values  
2,249  
201  
130  
184  
99  
2,464  
1,010  
235  
-
-
99  
1,146  
1,318  
1,239  
Advance  
payments made  
262  
392  
-184  
-
10  
269  
2,733  
-
-
-
-
-
-
-
-
269  
1,587  
201  
2
,450  
109  
1,010  
235  
99  
1,146  
1,440  
Property, plant  
and equipment  
Technical  
equipment  
and machinery  
16,181  
538  
477  
375 16,821 13,082  
305 17,792 13,395  
1,197  
-
-
370 13,909  
268 14,515  
2,912  
3,099  
Other equipment,  
factory and office  
equipment  
16,494  
1,565  
1,232  
1,668  
371  
-
1,388  
206  
-
-
-
-
3,277  
1,522  
3,099  
1,416  
Leased assets  
1,574  
1,659  
149  
218  
137  
Advance  
payments made  
and construction  
in progress  
1,528  
1,208  
4,646  
-848  
-
71  
1,817  
-
-
-
-
-
-
-
0
1,817  
9,528  
1,528  
9,142  
3
5,768  
2,325 38,089 26,626  
2,791  
856 28,561  
Financial assets  
Shares in  
subsidiaries  
30,440 28,2091  
-
-
17,2002 41,449  
3,022  
4
247  
-
11  
4
-
-
1,237  
-
2,021 39,428 27,418  
Loans to subsidiaries 1,851  
74  
407  
1,518  
-
1,518  
1,847  
Shares in  
associated  
companies  
Other loans  
3,119  
5
5,415 28,545  
2623  
0
-
-
-
112  
1
3,269  
4
269  
2
3,297  
7
-
27  
2
-
-
-
7
0
242  
-
3,027  
4
2,850  
3
3
17,720 46,240  
254  
44  
1,244  
2,263 43,977 32,118  
Non-current  
assets  
73,633 33,583  
-
20,154 87,062 30,933  
3,280  
44  
-
2,199 31,970 55,092 42,700  
1
2
3
In the context of the merger into Daimler AG of Daimler Vermögens- und Beteiligungsgesellschaf mbH, shares in subsidiaries with a total cost  
of acquisition of €9,336 million were transferred to Daimler AG.  
This includes the elemination of the carrying value of Daimler Vermögens- und Beteiligungsgesellschaf mbH in an amount of €9,377 million due  
to its merger into Daimler AG.  
In the context of the merger into Daimler AG of Daimler Vermögens- und Beteiligungsgesellschaf mbH, shares in associated companies with a  
total cost of acquisition of €86 million were transferred to Daimler AG.  
12C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE BALANCE SHEET  
Notes to the Balance Sheet  
1
ꢁIntangible assets  
Significant disposals of shares in subsidiaries relate to the  
derecognition of the carrying value of Daimler Vermögens­ und  
Beteiligungsgesellschaf mbH in connection with its merger  
with Daimler AG, the disposal of Daimler North America Corpo­  
ration in the context of the contribution in kind to Daimler  
International Nederland B.V. and the disposal of EHG Elektro­  
holding GmbH in the context of the contribution in kind to  
LEONIE CORP DVB GmbH. Further disposals resulted from the  
transfer of shares in Mercedes­Benz do Brasil Ltda. and  
Mercedes­Benz Canada Inc. (approx. 37.96%) in the context of  
the contribution in kind to Daimler Nederland B.V. and the  
disposal of several Financial Services companies in the context  
of the contribution in kind to LEONIE FS DVB GmbH. Further­  
more Daimler UK Limited and Daimler Nederland B.V. con­  
ducted repaiments of capital.  
Intangible assets of €1,587 million primarily comprise purchased  
licenses, name rights, rights in connection with vehicle devel­  
opment and production from cooperation projects, and similar  
values. Systematic amortization amounts to €230 million  
(
2017: €217 million). Impairment losses amount to €5 million  
(2017: €0 million).  
2
ꢁProperty, plant and equipment  
Additions of €4,646 million include leased assets of €1,668  
million. These are primarily vehicles sold in the employee­car  
business. The other additions consist only of movable assets.  
Systematic depreciation of property, plant and equipment  
amounts to €2,791 million (2017: €2,657 million).  
In 2018, shares in subsidiaries and associated companies were  
impaired by an amount of €254 million (2017: €371 million).  
This primarily affects Daimler Financial Services India Private  
Limited by an amount of €100 million, Mercedes­Benz do  
Brasil Ltda. by an amount of €83 million and Mercedes­Benz  
Argentina S.A. by an amount of €63 million. Write­ups  
amounted to €38 million (2017: €29 million).  
3
ꢁFinancial assets  
Shares in subsidiaries and associated companies increased by  
12,187 million to €42,455 million (2017: €30,268 million).  
The increase compared with 2017 was primarily caused by  
additions to shares in subsidiaries.  
The statement of investments pursuant to Section 285 of  
the German Commercial Code (HGB) is included in the  
E
“Statement of investments” chapter.  
Additions to and disposals of financial assets are influenced by  
the Group’s internal restructuring in the context of “Project  
The development of non­current assets is presented in the  
Future”. In addition, numerous subsidiaries were transferred to schedule of non­current assets.  
Daimler AG as a result of the merger of Daimler Vermögens­  
und Beteiligungsgesellschaf mbH into Daimler AG.  
4ꢁInventories C.01  
Significant additions to shares in subsidiaries relate to acquisi­  
tion of shares in Daimler Trucks & Buses US Holding Inc., the  
contribution in kind of Daimler North America Corporation to  
Daimler International Nederland B.V., the contribution in kind  
of EHG Elektroholding GmbH to LEONIE CORP DVB GmbH and  
the contribution in kind of Mercedes­Benz do Brasil Ltda. and  
Mercedes­Benz Canada Inc. (approx. 37.96%) to Daimler Ned­  
erland B.V. Further additions result from the contribution in  
Finished products and goods comprise vehicles produced  
both in the plants of Daimler AG and in the context of contract  
manufacturing, as well as spare parts and used vehicles.  
Advance payments made were impaired by an amount of €68  
million (2017: €0 million).  
kind of several Financial Services companies to LEONIE FS DVB 5ꢁReceivables and other assets  
C.02  
GmbH, the acquisition of shares in Mercedes­Benz Trucks  
UK Limited and payments into the equity of Daimler Compra y Receivables from subsidiaries primarily include intragroup (cash)  
Manufactura Mexico S. de R.L. de C.V., Daimler Financial Ser­  
vices AG and Mercedes­Benz Auto Finance Ltd.  
receivables within the scope of central financial and liquidity  
management (€24,985 million, 2017: €28,887 million), as well  
as trade receivables due to domestic and foreign companies  
of the Group (€4,832 million, 2017: €6,328 million). The lower  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE BALANCE SHEETꢀ 13  
level of €5,398 million in receivables due from subsidiaries  
primarily results from sales of receivables in foreign currencies  
in the amount of €4,164 million to a Group company during the  
year.  
C.01  
Inventories  
Dec. 31, 2018 Dec. 31, 2017  
In millions of euros  
Receivables from associated companies primarily comprise  
trade receivables that originally arose from associated com­  
panies in Germany and abroad (€1,589 million, 2017: €1,305  
million).  
Raw materials and  
manufacturing supplies  
1,932  
1,635  
6,743  
253  
1,746  
1,356  
6,158  
244  
Work in progress  
Finished products and goods  
Advance payments made  
Other assets include tax­refund claims (€1,556 million,  
2017: €1,155 million), fixed­term deposits (€650 million,  
2017: €200 million) and accrued interest (€161 million,  
2017: €162 million).  
Inventories excluding advance  
payments received  
Advance payments received  
10,563  
-39  
10,524  
9,504  
­ꢂ38  
Inventories  
9,466  
6ꢁSecurities  
Securities consist solely of other securities, which include  
fixed or variable­interest marketable debt securities as well as  
money­market funds. The decrease of €384 million to €7,278  
million (2017: €7,662 million) is due in particular to the disposal  
of bonds.  
C.02  
Receivables and other assets  
Dec. 31, 2018 Dec. 31, 2017  
In millions of euros  
Trade receivables  
2,781  
12  
29,817  
10,316  
1,679  
2,812  
6
thereof more thanꢂ1 year until maturity  
Receivables from subsidiaries  
thereof more thanꢂ1 year until maturity  
Receivables from associated companies  
thereof more thanꢂ1 year until maturity  
Other assets  
7ꢁCash and cash equivalents  
35,215  
11,811  
1,589  
Cash and cash equivalents amount to €6,354 million at the  
end of the year (2017: €1,782 million) and consist of bank  
balances, cash in hand and checks.  
3,229  
9
37,506  
10,337  
2,238  
6
thereof more thanꢂ1 year until maturity  
Receivables and other assets  
thereof more thanꢂ1 year until maturity  
Liquidity also includes securities (€7,278 million, 2017: €7,662  
million), cash and cash equivalents, as well as fixed­term  
deposits (€650 million, 2017: €200 million), which are presented  
under other assets.  
41,854  
11,823  
C.03  
Equity  
8ꢁPrepaid expenses  
Dec. 31, 2018 Dec. 31, 2017  
Prepaid expenses include discount amounts of €112 million  
2017: €143 million). They result from the difference between  
the settlement amount and the lower issue amount of liabilities.  
In millions of euros  
(
Share capital  
Capital reserve  
Retained earnings  
Distributable profit  
Equity  
3,070  
11,480  
25,182  
3,477  
3,070  
11,480  
23,637  
3,905  
9ꢁEquity C.03  
43,209  
42,092  
a) Share capital  
The share capital (authorized capital) is divided into no­par­ value  
shares. All shares are fully paid up. Each share confers the  
right to one vote at the Annual Shareholders’ Meeting of Daimler  
AG and, if applicable, with the exception of any new shares  
potentially not entitled to dividends, to an equal portion of the  
profits as defined by the dividend distribution resolved at the  
Annual Shareholders’ Meeting. Each share represents a pro­  
portionate amount of approximately €2.87 of the share capital.  
The number of shares outstanding/issued at December 31, 2018  
isꢂ1,070 million, unchanged from December 31, 2017.  
14C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE BALANCE SHEET  
Treasury shares  
C.04  
Number of shares  
By resolution of the Annual Shareholders’ Meeting held on  
Aprilꢂ1, 2015, the Company was authorized until March 31, 2020  
to acquire treasury shares in a volume up toꢂ10% of the share  
capital issued as of the day of the resolution to be used for all  
legal purposes. The shares can be used, among other things,  
with the exclusion of shareholders’ subscription rights, for busi­  
ness combinations or to acquire companies, or to be sold to  
third parties for cash at a price that is not significantly lower  
than the stock­exchange price of the Company’s shares. The  
acquired shares can also be used to fulfill obligations from  
issued convertible bonds and/or bonds with warrants and to be  
issued to employees of the Company and employees and board  
members of the Company’s subsidiaries pursuant to Sectionsꢂ15  
et seq. of the German Stock Corporation Act (AktG). The trea­  
sury shares can also be canceled.  
2
018  
2017  
Shares outstanding/issued  
at Januaryꢀ1  
Shares reacquired in the context  
of employee share programs and  
not cancelled  
1,069,837,447 1,069,837,447  
-732,729  
­ꢂ603,574  
603,574  
Sale of treasury shares to  
employees in the context  
of employee share programs  
732,729  
Shares outstanding/issued  
at December 31  
1,069,837,447 1,069,837,447  
C.05  
The Board of Management is further authorized, with the consent  
of the Supervisory Board, to exclude shareholders’ subscrip­  
tion rights in other defined cases. In a volume up to 5% of the  
share capital issued as of the day of the resolution of the  
Annual Shareholders’ Meeting, the Company was authorized  
to acquire treasury shares also by using derivatives (put options,  
call options, forward purchases or a combination of these  
instruments), whereby term of a derivative must not exceedꢂ  
Other retained earnings  
2
018  
2017  
In millions of euros  
Balance at Januaryꢀ1  
Purchase of treasury shares  
23,637  
22,560  
Allocated by the Annual Shareholders’  
Meeting  
1,545  
25,182  
1,077  
23,637  
18 months and must not end later than March 31, 2020.  
Transfer from net profit  
Balance at December 31  
thereof treasury shares  
The authorization to acquire treasury shares was not exercised  
in the reporting period.  
As was the case at December 31, 2017, no treasury shares are  
held by Daimler AG at December 31, 2018.  
C.04  
C.06  
Distributable profit  
Employee share purchase plan  
2
018  
In connection with employee share programs in 2018, Daimler  
AG distributed 732,729 Daimler shares (2017: 603,574 Daimler  
shares) to employees. This includesꢂ15,394 shares provided  
as health shares in the context of the bonus program for atten­  
dance. The employee shares represent €2.1 million or 0.07% of  
the share capital. Daimler shares were acquired for an average  
price of €68.22 per share and reissued to employees for an  
average price of €48.07 per share. The proportionate loss arising  
for Daimler AG of €13.22 million was recognized through profit  
and loss as a personnel expense in 2018. The proportionate  
loss of €1.55 million from the sale of employee shares to entitled  
employees of Group companies was charged by Daimler AG to  
the respective companies of the Group.  
In millions of euros  
Balance at Januaryꢀ1  
Dividend distribution  
3,905  
-3,905  
Allocation to retained earnings by the  
Annual Shareholders’ Meeting  
Net profit 2018  
5,022  
Allocation to retained earnings by the Board of  
Management and the Supervisory Board pursuant  
to Section 58 of the German Stock Corporation  
Act (AktG)  
-1,545  
3,477  
Balance at December 31  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE BALANCE SHEETꢀ 15  
Approved capital  
The Annual Shareholders’ Meeting held on April 5, 2018 autho­  
b) Capital reserve  
rized the Board of Management, with the consent of the Super­ The capital reserve amounts to €11,480 million at December 31,  
visory Board, to increase the share capital of the Company in  
the period until April 4, 2023 by a total of €1,000 million in one  
lump sum or by separate partial amounts at different times  
by issuing new, registered no­par­value shares in exchange for  
cash and/or non­cash contributions (Approved Capital 2018).  
The new shares are generally to be offered to the shareholders €25,182 million (2017: €23,637 million).  
for subscription (also by way of indirect subscription pursuant  
2018 (2017: €11,480 million).  
c) Retained earnings  
At December 31, 2018, other retained earnings amount to  
C.05  
to Sectionꢂ186 Subsection 5 Sentenceꢂ1 of the German Stock  
Corporation Act (AktG)). Among other things, the Board of  
d) Distributable profit  
Management was authorized with the consent of the Supervisory Distributable profit for the year 2018 is calculated in accor­  
Board to exclude shareholders’ subscription rights under  
certain conditions and within defined limits.  
dance with Sectionꢂ158 Subsectionꢂ1 of the German Stock  
Corporation Act (AktG) and amounts to €3,477 million.  
C.06  
Approved Capital 2014, which had not been utilized, was  
cancelled when the resolution on Approved Capital 2018 took  
effect. Approved Capital 2018 has not yet been utilized.  
Information on amounts that may not be distributed  
The difference between the recognition of the retirement benefit  
obligations with the average market interest rate of the past  
ten financial years and the recognition of the retirement benefit  
obligations with the average market interest rate of the past  
seven financial years amounts to €2,275 million and may not be  
Conditional capital  
The resolution of the Annual Shareholders’ Meeting on Aprilꢂ1,  
2
015 authorizes the Board of Management, with the consent of distributed.  
the Supervisory Board, until March 31, 2020 to issue convert­  
ible and/or warrant bonds or a combination of these instruments On the other hand, retained earnings exist which may be freely  
“bonds”) with a total face value of up to €10,000 million and disposed of in the amount of €25,182 million. Therefore, the  
a maturity of no more than ten years. The Board of Management distributable profit of €3,477 million is in fact fully distribut­  
(
is allowed to grant the holders of these bonds conversion or  
warrant rights for new registered no­par­value shares in Daimler  
AG with an allocable portion of the share capital of up to €500  
able.  
million in accordance with the details defined in the terms and Dividend  
conditions of the bonds. The bonds can be offered in exchange  
for cash and/or non­cash contributions, in particular for shares Under the German Stock Corporation Act (AktG), the dividend  
in other companies. The terms and conditions of the bonds  
can include warranty obligations or conversion obligations. The  
is paid out of the distributable profit reported in the annual  
financial statements of Daimler AG (parent company only) in  
bonds can be issued once or several times, wholly or in install­ accordance with the German Commercial Code (HGB). For the  
ments, or simultaneously in various tranches, as well as by year ended December 31, 2018, the Daimler management  
subsidiaries of the Company within the meaning of Sectionsꢂ15 will propose to the shareholders at the Annual Shareholders’  
et seq. of the German Stock Corporation Act (AktG). Among Meeting to pay out €3,477 million of the distributable profit  
other things, the Board of Management was authorized, with the of Daimler AG as a dividend to the shareholders, equivalent to  
consent of the Supervisory Board, to exclude shareholders’  
subscription rights for the bonds under certain conditions and  
within defined limits.  
€3.25 per no­par­value share entitled to a dividend (2017:  
€3,905 million and €3.65 per no­par­value share entitled to a  
dividend respectively).  
In order to fulfill the conditions of the above­mentioned autho­  
rization, the Annual Shareholders’ Meeting on Aprilꢂ1, 2015  
also resolved to increase the share capital conditionally by an  
amount of up to €500 million (Conditional Capital 2015).  
Share­based payment  
As of December 31, 2018, Daimler AG has Performance Phan­  
tom Share Plans (PPSP) 2015 through 2018 in operation. As  
instruments of share­based payment with cash settlement, the  
PPSP are measured at their fair values on the balance sheet  
date. They are paid out at the end of their contractually defined  
periods; an earlier, proportionate payout is only possible under  
certain conditions when a beneficiary leaves the company. PPSP  
The authorization to issue convertible and/or warrant bonds  
has not yet been utilized.  
2014 was paid out as planned in the first quarter of 2018.  
16C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE BALANCE SHEET  
Performance Phantom Share Plans  
C.07  
In 2018, Daimler AG adopted a Performance Phantom Share Plan  
similar to that used in prior years, under which eligible board  
members and employees are granted phantom shares entitling  
them to receive cash payments provided that predefined targets  
are met in the three­year performance period. The amount of  
cash paid to eligible persons is based on the number of vested  
phantom shares (determined depending on target achievement  
over a three­year performance period) multiplied by the quoted  
price of Daimler’s ordinary shares (calculated as an average  
price over a specified period at the end of the four­year plan  
period). For the PPSP issued as of 2014, the determination of  
target achievement is based on the relative share performance,  
which measures the development of a share­price index of a  
group of competitors including Daimler, and the return on sales  
(RoS) of Daimler compared with the average RoS of a group of  
competitors. Since PPSP 2018, the average RoS of the group  
of competitors is additionally revenue weighted. In this context,  
special regulations apply to the members of the Board of  
Management beginning with the plan PPSP 2015 to the extent  
that Daimler has to achieve a higher RoS than the average of  
its competitors in order to obtain the same target achievement  
that the other plan participants obtain in the case of a RoS  
equal to the average of the competitors.  
Provisions for pensions and similar obligations/Net  
defined-benefit plan asset  
Dec. 31, 2018 Dec. 31, 2017  
In millions of euros  
Settlement amount of obligations  
from defined­benefit plans  
13,720  
-12,882  
587  
18,272  
­ꢂ21,734  
490  
Fair value of related special­  
purpose assets for obligations  
from defined­benefit plans  
Settlement amount for obligations  
from plans with commitments backed  
by securities  
Fair value of related special­purpose  
assets for obligations from plans  
with commitments backed by securities  
-587  
­ꢂ490  
Provisions for pensions and similar  
obligations (+)/Net defined-benefit  
plan asset (-)  
838  
­ꢂ3,462  
C.08  
Shares in investment funds by investment objective  
at Dec. 31, 2018  
Cost of  
Dividend  
for the  
Daily  
Book value/  
fair value  
acqui­  
return  
year possible  
1
0ꢁProvisions for pensions and similar obliga­  
sition Difference  
In millions  
of euros  
tions (prior year: Net defined­benefit plan asset)  
Provisions for pensions and similar obligations amount to  
€838 million at December 31, 2018 af er offsetting against the  
special­purpose assets reserved for them (2017: net defined­  
Mixed funds  
9,734 10,027  
­ꢂ293  
654  
yes  
Private  
equity funds  
116  
134  
50  
82  
140  
51  
34  
­ꢂ6  
yes  
yes  
yes  
benefit plan asset of €3,462 million).  
C.07  
Equity funds  
Bond funds  
.
.
­ꢂ1  
The settlement amount for obligations that provide for a  
defined benefit during retirement is €13,720 million (2017:  
1
0,034 10,300  
­ꢂ266  
654  
18,272 million). The decrease in the obligation mainly relate to  
the transfer of pension obligations to Daimler Pensionsfonds  
AG (pension fund).  
Effective Decemberꢂ13, 2018, Daimler AG transferred pension  
obligations for employees who had already retired and their  
surviving dependents to the pension fund established in June  
2
018. In the future, this non­insurance­form pension fund  
will implement the commitments of the companies specified  
in the pension fund agreement. The redemption amount of  
8,185 million, which was actuarially determined in accordance  
with statutory requirements for the assumption of pension  
obligations, was paid out of the existing special­purpose assets.  
The transfer resulted in a disposal of pension obligations  
of €6,883 million recognized under German commercial law.  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE BALANCE SHEET17  
The measurement of the pension obligations is based on an  
interest rate of 3.21% (previous year 3.68%). Life expectancy  
is calculated on the basis of the 2018 G mortality tables of  
K. Heubeck. The mortality tables take into account the latest  
statistics of the statutory pension insurance and the Federal  
Statistical Office. The effect of the changeover to the Heubeck  
mortality tables amounts to €120 million at December 31, 2018  
11 Other provisions C.09  
Provisions for taxes relate primarily to income taxes for years  
not yet finally assessed.  
Miscellaneous provisions relate primarily to worldwide warranty  
risks, personnel and social obligations, obligations from the  
and is shown under functional costs. In addition, the measure­ sales business as well as provisions for liability and litigation  
ment is based on annual increases in the cost of living and risks. In addition, provisions are recognized for deferred  
annual increases in future entitlements ofꢂ1.80% (2017:ꢂ1.70%) maintenance that will be carried out in the first quarter of the  
and expected annual wage and salary increases of 3.0%  
2017: 3.0%).  
following year.  
(
These obligations are offset against the special­purpose  
assets, which as at 31 December 2018 have a fair value of  
C.09  
Other provisions  
€12,882 million (2017: €21,734 million) and cost of acquisition  
of €13,386 million (2017: €20,535 million). The decrease in  
the special­purpose assets is due in particular to the transfer  
of assets to the pension fund in the amount of the redemption  
amount.  
Dec. 31, 2018 Dec. 31, 2017  
In millions of euros  
Provisions for taxes  
1,223  
14,372  
5,595  
1,282  
12,699  
13,981  
Miscellaneous provisions  
The obligations for the pension plans, the amounts of which  
are determined by the fair value of securities or comparable  
assets, are recognized with the fair value of those assets  
at December 31, 2018 of €587 million (2017: €490 million), as  
this exceeds the guaranteed minimum value of the obligations  
at December 31, 2018. There is then an offset with those  
special­purpose assets that have original cost of acquisition of  
1
575 million (2017: €471 million). As a result, this leads to  
the full offsetting of the obligations with the related special­  
purpose assets.  
The assets offset as of December 31, 2018 include the shares as  
shown in table  
C.08 of more thanꢂ10% in German or compara­  
ble foreign special funds as defined by Sectionꢂ1 Subsec­  
tionꢂ10 of the German Capital Investment Act (KAGB) and  
investments in investment fund companies with variable equity  
pursuant to Sectionsꢂ108 toꢂ123 of the German Capital Invest­  
ment Act (KAGB). The special funds include, as their invest­  
ment focus, security funds and a private equity fund with an  
international orientation which reflect individual investors’  
needs.  
There are no restrictions on the possibility of returning the  
shares on stock­exchange trading days. The return of shares  
can be temporarily suspended under unusual circumstances  
that make suspension seem necessary under consideration of  
the interests of the investors.  
18C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE BALANCE SHEET  
1
2ꢁLiabilities C.10  
C.10  
Liabilities  
Notes, bonds and commercial paper are primarily European  
medium­term notes in the amount of €22,659 million  
Dec. 31, 2018 Dec. 31, 2017  
(2017: €28,471 million).  
In millions of euros  
Liabilities to banks of €2,800 million (2017: €4,019 million)  
solely comprise loans of €2,800 million (2017: €3,502 million).  
Notes/bonds and commercial paper  
of which due in less thanꢂ1 year  
of which due inꢂ1 year to 5 years  
of which due in more than 5 years  
26,133  
5,104  
10,731  
10,298  
30,838  
4,456  
14,833  
11,549  
Liabilities to subsidiaries comprise liabilities that originally  
arose from intragroup transactions within the scope of central  
financial and liquidity management (€18,029 million, 2017:  
Liabilities to banks  
2,800  
500  
2,300  
4,019  
1,219  
2,800  
6,407 million) as well as from the supply of goods and services  
by domestic and foreign subsidiaries (€809 million, 2017:  
1,018 million).  
of which due in less thanꢂ1 year  
of which due inꢂ1 year to 5 years  
of which due in more than 5 years  
Liabilities to subsidiaries in the context of central financial  
and liquidity management include purchase­price liabilities from  
the Group’s internal restructuring within the framework of  
Trade payables  
7,210  
7,210  
6,499  
of which due in less thanꢂ1 year  
of which due inꢂ1 year to 5 years  
of which due in more than 5 years  
6,499  
Project Future”.  
Liabilities to associated companies include trade payables due  
to domestic and foreign associated companies (€39 million,  
Liabilities due to subsidiaries  
of which due in less thanꢂ1 year  
of which due inꢂ1 year to 5 years  
of which due in more than 5 years  
18,838  
12,338  
6,500  
7,425  
7,380  
45  
2
017: €78 million) as well as intragroup (cash) liabilities within  
the scope of central financial and liquidity management  
€3 million, 2017: €2 million).  
(
Liabilities due to associated companies  
of which due in less thanꢂ1 year  
of which due inꢂ1 year to 5 years  
of which due in more than 5 years  
42  
42  
80  
80  
Other liabilities of €1,419 million (2017: €1,476 million) mainly  
comprise liabilities from wages and salaries, withheld income  
tax and social security contributions, and accrued interest.  
Other liabilities  
1,419  
1,418  
1
1,476  
1,476  
1
3ꢁDeferred income  
of which due in less thanꢂ1 year  
of which due inꢂ1 year to 5 years  
of which due in more than 5 years  
of which tax liabilities  
The increase in deferred income primarily relates to deferred  
revenue in connection with Mercedes me connectivity services.  
The release of deferred income takes place pro rata in line  
with the periods of the underlying contracts.  
163  
162  
of which obligations concerning  
social security  
46  
46  
Total of liabilities  
56,442  
26,612  
19,532  
10,298  
50,337  
21,110  
17,678  
11,549  
of which due in less thanꢂ1 year  
of which due inꢂ1 year to 5 years  
of which due in more than 5 years  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE INCOME STATEMENT 19  
Notes to the Income Statement  
1
4ꢀRevenue  
Other attestation services primarily comprise statutory, con-  
tractually agreed or voluntary attestation services. In addition  
to project supporting audits in connection with non-accounting-  
related IT systems and processes, they include audits in connec-  
tion with compliance management systems, the issuance  
of comfort letters, non-financial disclosures and reports. Tax  
advisory services primarily comprise tax advice in conjunction  
with value-added tax. Other services with regard to principal  
accountant fees were performed primarily in connection with  
non-accountant-relevant processes and M&A activities.  
The development of revenue can be seen in table  
C.11.  
15ꢀFunctional costs  
Functional costs are broken down in the income statement  
into the categories cost of sales, selling expenses and general  
administrative expenses.  
Cost of sales includes the expenses incurred for products, goods  
and services sold. These expenses mainly comprise the costs  
of production materials, personnel expenses, purchased goods  
and services, depreciation, rental and lease expenses for the  
production premises and the currency result from business  
operations. The increase in cost of sales results primarily from  
higher expenses for production materials and purchased ser-  
vices. This was mainly due to higher expenses for new products  
and technologies, expenses related to certification according  
to the new WLTP (Worldwide Harmonized Light Vehicles Test  
Procedure) standard and expenses for service measures. Cost  
of sales also includes €8,084 million of research and develop-  
ment expenses (2017: €7,623 million). In addition, it includes  
expenses of €155 million (2017: €523 million) in connection with  
risks from buy-back obligations and residual-value guarantees.  
C.11  
Revenue  
2
018  
2017  
In millions of euros  
Revenue by product  
Cars  
83,837  
28,654  
12,491  
86,976  
25,709  
Commercial vehicles  
1
112,685  
Revenue by region  
Germany  
24,689  
87,802  
12,491  
24,431  
88,254  
International  
1
112,685  
Selling expenses mainly comprise purchased services such as  
for advertising and marketing, personnel expenses, commission,  
outbound shipping costs, and the rental and lease expenses of  
the sales organization. The increase in selling expenses primar-  
ily results from higher expenses for marketing, outgoing freight  
and sales systems.  
Breakdown of international revenue  
Western Europe (excluding Germany)  
United States  
25,474  
18,322  
12,000  
13,110  
9,300  
25,866  
18,996  
11,483  
12,940  
9,573  
Asia (excluding China)  
China  
Eastern Europe  
The Americas (excluding United States)  
Other markets  
4,507  
5,089  
3,977  
General administrative expenses primarily comprise personnel  
expenses, IT costs and fees for expertise and consulting.  
The increase in general administrative expenses mainly reflects  
expenses of €192 million in connection with “Project Future”.  
5,419  
8
7,802  
88,254  
The expenses for consulting include principal accountant fees.  
The shareholders of Daimler AG elected KPMG AG Wirtschaf s-  
prüfungsgesellschaf as the external auditor at the Annual  
C.12  
Accountant fees  
Shareholders’ Meeting held on April 5, 2018. Table  
C.12 shows  
2018  
2017  
the fees for services provided by KPMG AG Wirtschaf sprüfungs-  
gesellschaf to Daimler AG and its consolidated companies  
for the respective reporting periods. Principal accounting fees  
relate to the audit of the consolidated financial statements  
and the company financial statements, as well as all services  
required for the audit, including the auditors’ review of the  
interim financial statements, the audit of the accounting-  
related internal control system and the accounting-related IT  
and process audits.  
In millions of euros  
Audit services  
23  
8
1
6
38  
21  
7
Other attestation services  
Tax services  
1
Other services  
5
34  
20  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE INCOME STATEMENT  
In connection with the transfer of pension obligations and spe-  
C.13  
cial-purpose assets to Daimler Pensionsfonds AG, expenses  
of €577 million were recognized in the aforementioned func-  
tional costs in 2018. That comprises cost of sales of €434 mil-  
lion, selling expenses of €92 million and general administrative  
expenses of €51 million.  
Income/expense from investments in subsidiaries  
and associated companies, net  
2
018  
2017  
In millions of euros  
Other taxes and customs duties amounting to €97 million  
(2017: €96 million) are included within functional costs.  
Income from profit and  
loss transfer agreements  
2,291  
-685  
9,069  
830  
2,609  
-ꢁ27  
Expenses from loss assumptions  
Income from subsidiaries  
3,498  
934  
Income from associated companies  
16ꢀOther operating income  
Impairments of investments in  
subsidiaries and associated companies  
-254  
38  
-ꢁ371  
29  
Of the other operating income of €1,372 million (2017:  
Write-ups on investments in subsidiaries  
and associated companies  
778 million), €326 million is attributable to the reporting period,  
primarily comprising income from insurance compensation of  
192 million (2017: €27 million) and gains on currency trans-  
Gains on disposals of investments in  
subsidiaries and associated companies  
48  
113  
lation of € 35 million (2017: €74 million).  
Losses on disposals of investments in  
subsidiaries and associated companies  
1
1,337  
6,785  
Other operating income includes €1,046 million (2017:  
574 million) of income assignable to other financial periods  
and relates mostly to income from the release of provisions,  
impairments of receivables, accruals and deferrals and insur-  
ance compensation.  
17ꢀOther operating expenses  
Other operating expenses amount to €1,664 million (2017:  
1,133 million). The change results in particular from expenses  
for legal proceedings.  
The expense from the currency translation of trade receivables  
and payables amounts to €6 million in 2018 (2017: €100 million).  
Other operating expense of €228 million (2017: €209 million) is  
attributable to other periods.  
1
8ꢀIncome/expense from investments in  
subsidiaries and associated companies, net  
C.13  
Net income from investments in subsidiaries and associated  
companies increased primarily due to higher income from sub-  
sidiaries. This resulted from increased dividends paid out by  
subsidiaries (especially Daimler North America Corporation  
by an amount of €3,331million, Daimler UK Limited by an  
amount of €1,469ꢁmillion and Daimler Nederland B.V. by an  
amount of €1,035ꢁmillion). Additionally, impairments of invest-  
ments in subsidiaries and associated companies were lower  
than in the prior year.  
Expenses from loss transfers increased in 2018 primarily due to  
the loss transfer from Daimler Financial Services AG, which  
included an extraordinary expense of €620 million relating to the  
settlement reached in the Toll Collect arbitration proceedings.  
Impairments of investments in subsidiaries and associated  
companies mainly relate to Daimler Financial Services India  
Priviate Limited (€100 million), Mercedes-Benz do Brasil Ltda.  
(
€83 million) and Mercedes-Benz Argentina S.A.ꢁ(€63 million).  
Impairments of investments in subsidiaries and associated  
companies in the previous year mainly related to Daimler India  
Commercial Vehicles Private Limited (€270 million).  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | NOTES TO THE INCOME STATEMENT 21  
1
9ꢀInterest income/expense, net  
C.14  
The income tax expense of €1,070 million for 2018 is lower  
than for 2017 due to the decreased profit before income taxes  
compared with 2017. This is primarily caused by the changed  
All of the earnings components of the existing special-purpose  
assets are recognized under interest income/expense, net and composition of profit before income taxes. The expenses for  
are offset against the interest component of the retirement  
benefit obligation.  
increased liabilities from the sales business included in profit  
before taxes led to a decrease in operating income but do not  
reduce taxes until the year in which they are tax deductible.  
Only a part of the increase in financial income has an impact  
on taxable income. There was no effect on taxable income  
from the development of the financing expense for pensions  
The interest expense includes higher expenses from the mea-  
surement of the pension obligations by an amount of €2,003  
million (2017: €1,600 million) and expenses from the develop-  
ment of return on the special-purpse assets of €1,074 million due to interest-rate changes or due to the decreasing income  
(
2017: income of €924 million). In addition, expenses from  
from the special-purpose assets. A constant interest rate is to  
be applied in calculating the tax effects from the financing  
expense for pensions. In both years, significant components of  
income from subsidiaries and associated companies were  
nearly tax free.  
the proportionate transfer of existing pension obligations and  
existing special-purpose assets to Daimler Pensionsfonds AG  
by an amount of €725 million contributed to higher interest  
expenses.  
The compounding of provisions with an original maturity of more Deferred taxes are not included in this item because the capi-  
than one year results in an interest expense of €298 million  
2017: €274 million).  
talization of deferred tax assets is optional. Future tax benefits  
mainly arise from temporary differences in connection with  
pensions and other provisions.  
(
2
0ꢀOther financial income/expense, net  
2
2ꢀNet profit  
Other financial income/expense, net includes currency gains  
of €148 million (2017: currency losses of €13 million) from  
current Group financing.  
Net profit for financial year 2018 is €5,022 million. Af er a  
transfer to retained earnings of €1,545 million pursuant to  
Section 58 Subsection 2 of the German Stock Corporation  
Act (AktG), distributable profit amounts to €3,477 million.  
Miscellaneous income includes the Group‘s internal provisions  
for warrenty and guarantee obligations of €108 million (2017:  
80 million). Mescellaneous expenses include expenses for  
C.14  
Group financing of €71 million (2017: €14 million). C.15  
Interest income/expense, net  
2
018  
2017  
21ꢀIncome taxes  
In millions of euros  
The parent company, Daimler AG, is also a taxpayer with  
respect to the profit and loss transfer agreements concluded  
with its subsidiaries. The individual companies are listed in the  
Income from other securities  
and loans of financial assets  
18  
18  
707  
310  
26  
25  
thereof from subsidiaries  
Other interest and similar income  
thereof from subsidiaries  
Interest and similar expenses  
thereof to subsidiaries  
621  
E
“Statement of investments” pursuant to Section 285  
260  
of the German Commercial Code (HGB) and are marked with a  
separate footnote.  
-4,927  
-ꢁ1,614  
-ꢁ40  
-91  
-4,202  
-ꢁ967  
The income tax expense amounts to €1,055 million (2017:  
2,018 million). It comprises an expense of €1,070 million for  
the year 2018 (2017: expense of €1,683 million) as well as  
a benefit of €15 million for previous years (2017: expense of  
C.15  
335 million).  
Other financial income/expense, net  
The decrease in the tax expense of €963 million compared to  
the prior year is primarily related to the decrease in the profit  
before income taxes and the end of tax expenses from other  
periods. In 2017, there were tax expenses from other periods  
in connection with the tax assessment of previous years.  
2018  
2017  
In millions of euros  
Currency income/expense, net  
Miscellaneous income  
148  
119  
-84  
-ꢁ13  
80  
Miscellaneous expenses  
-ꢁ19  
48  
1
83  
22  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Other Notes  
Personnel expenses/Employees  
C.16  
C.16  
Personnel expenses  
Wages and salaries include direct labor, salaries, severance  
payments, holiday bonuses, special bonuses and expenses  
resulting from personnel-related provisions.  
2
018  
2017  
In millions of euros  
Social-security contributions primarily relate to the employer’s  
contributions to pension, unemployment, nursing-care and  
medical insurance plans.  
Wages and salaries  
Social security contributions  
Pension costs  
11,275  
1,819  
1,076  
11,279  
1,774  
336  
1
4,170  
13,389  
Pension costs include the components to be shown under  
functional costs pursuant to applicable law. Pensions costs  
increased primarily due to the transfer of pension obligations  
and special-purpose assets to Daimler Pensionsfonds AG.  
Insofar as they occur, contributions to the German Pension  
Insurance Association are included as well.  
Employees  
2
018  
2017  
Annual average numbers  
Manual workers  
81,792  
60,565  
42,357  
9,522  
81,863  
59,354  
141,217  
9,874  
Salaried employees  
1
Cost of materials  
Trainees/apprentices/interns  
Total (average for the year)  
151,879  
149,797  
151,091  
Cost of materials includes expenses for raw materials and  
manufacturing supplies as well as for purchased goods and  
services. C.17  
Total (at end of year)  
148,953  
Derivative financial instruments and  
valuation units  
C.17  
Cost of materials  
2
018  
2017  
Derivative financial instruments serve solely to hedge risks  
relating to foreign exchange rates, interest rates and raw  
material prices. They cover the underlying transactions of the  
companies of the Daimler Group and the original financial  
transactions (underlying transactions) and are placed together  
with them as far as possible in valuation units.  
In millions of euros  
Cost of raw materials, manufacturing  
supplies and purchased goods  
77,110  
15,846  
2,956  
75,894  
14,440  
90,334  
Cost of purchased services  
9
The derivative financial instruments held by Daimler AG have  
the nominal values at the end of the reporting year and the  
C.18. The nominal values are the  
totals of the basic values of all purchase and sale contracts  
without netting off.  
prior year as shown in table  
C.18  
Derivative financial instruments: nominal values  
Dec. 31, 2018 Dec. 31, 2017  
In millions of euros  
Foreign exchange contracts  
Interest rate contracts  
44,698  
50,303  
704  
52,144  
30,243  
826  
Commodity forward contracts  
9
5,705  
83,213  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 23  
The foreign exchange contracts primarily comprise currency  
The fair values of currency forwards are determined on the basis  
of current ECB reference rates with consideration of forward  
premiums or discounts. Currency options are measured with the  
use of quoted rates or option price models. The fair values of  
interest rate contracts are determined on the basis ofdiscounted  
expected future cash flows with the use of the market interest  
forwards and currency options. They mainly serve to hedge  
the foreign exchange risks of the companies of the Group from  
the cash flows expected with a high degree of certainty from  
the automotive business. Currency forwards are also held to  
hedge the risks connected with financial receivables and lia-  
bilities from the Group’s financing. Interest rate contracts include rates applicable for the remaining time until maturity of the  
interest rate swaps as well as interest/currency swaps. They  
are primarily used to minimize the risk of changes in interest  
rates. Commodity contracts currently consist of commodity  
swaps used for hedging the purchasing prices of raw materials  
expected to be purchased with a high degree of certainty.  
financial instruments. The fair values of commodity contracts  
are determined on the basis of current spot rates on commodity  
exchanges with consideration of forward premiums or discounts.  
Of the derivative financial instruments held on the balance  
sheet date in a nominal amount of €95,705 million, financial  
instruments in a total amount of €70,464 million serve as  
hedging instruments in valuation units. Of that total, €36,420  
million is accounted for by foreign exchange contracts,  
The carrying values and fair values of derivative financial  
instruments at the end of the reporting year and the prior year  
are shown in table  
C.19.  
33,495 million by interest rate contracts and €549 million by  
The carrying values are taken from the items of the balance  
sheet and relate to other assets, other liabilities, other provi-  
sions, and prepaid expenses and deferred income. Other assets  
and other liabilities comprise paid and received option pre-  
miums from currency options as well as advance payments  
made and received for interest-rate/currency swaps. Other  
provisions consist on the one hand of negative fair values and  
changes in fair values of derivatives which are not included  
in a valuation unit, and on the other hand of negative ineffec-  
tiveness from valuation units. Prepaid expenses and deferred  
income include effects on earnings from commodity swaps  
which have already become due. In addition, bond transfers  
between Daimler AG and its subsidiaries resulted in the early  
termination of valuation units. The valuations at the time of  
termination of the valuation units are deferred over the remaning  
terms of the transactions.  
commodity forward contracts.  
C.19  
Derivative financial instruments: carrying values / fair values  
Dec. 31, 2018  
Dec. 31, 2017  
Fair value  
Carrying value  
Fair value  
Carrying value  
In millions of euros  
Assets  
Foreign exchange contracts  
Interest rate contracts  
Commodity forward contracts  
1
9
8
506  
557  
57  
23  
1
1,913  
458  
12  
36  
112  
1
8
1,120  
2,483  
Liabilities  
Foreign exchange contracts  
Interest rate contracts  
Commodity forward contracts  
-38  
-15  
-12  
-611  
-348  
-73  
-ꢀ28  
-ꢀ9  
-ꢀ233  
-ꢀ319  
-ꢀ64  
-ꢀ12  
-ꢀ49  
-65  
-1,032  
-ꢀ616  
Balance  
-56  
88  
-ꢀ13  
1,867  
24  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Table  
C.20 shows the hedged exchange-rate, interest-rate  
Currency forwards with Group-external counterparties of the  
financing activities are combined into valuation units (micro  
hedges) with opposing hedges concluded within the Group.  
Currency forwards with Group-external counterparties that are  
and commodity-price risks included in valuation units.  
If derivative financial instruments are included in valuation  
units with the related underlying transactions, an effectiveness not opposed by any corresponding hedges within the Group  
measurement is carried out both at the beginning of the hedging are included in valuation units with the related financial receiv-  
period and on each following balance sheet date upon which  
the hedge exists. In connection with the hedging of exchange  
rate risks of assets and liabilities, the terms and parameters  
of the underlying transaction and the hedging transaction are  
compared with each other. With the hedging of future trans-  
actions, the dollar-offset method is mainly used. The risk  
management system at the Daimler Group monitors the effec-  
tiveness of hedges.  
ables and liabilities, provided that the documentation require-  
ments are fulfilled. Provided that negative fair values from the  
valuation of hedges are offset by currency gains from the  
underlying transactions, these derivatives are not accounted  
for; in this case, the corresponding losses are only recognized  
in profit and loss for the period when the derivatives mature,  
simultaneously with the currency gains from the underlying  
transactions. Provisions are recognized for any amounts in  
excess of that. The hedging period is generally one to three years.  
Foreign exchange contracts  
Currency forwards and currency options in the automotive  
Interest rate contracts  
business are combined with the expected cash flows they are Interest swaps and interest/currency swaps with Group-external  
based upon in valuation units (portfolio hedges) for each cur-  
counterparties are combined into valuation units (micro hedges)  
rency. To the extent that negative fair values from the valuation with opposing interest and interest/currency contracts within  
of hedges are offset by currency gains from the expected  
underlying transactions, they are not accounted for (freezing  
method); in this case, the corresponding losses are only  
the Group. For interest hedges with Group-external counter-  
parties that are not opposed by any corresponding hedges  
within the Group, provided the documentation requirements  
recognized in profit and loss for the period when the derivatives are fulfilled, they are included in valuation units with the  
mature, simultaneously with currency gains from the underly-  
ing transactions. Provisions are recognized for any amounts in  
excess of that. The hedging period is generally up to five years.  
Setting hedging volumes lower than the planned cash flows in  
the respective foreign currency and decreasing as time passes  
ensures that future cash flows from derivatives are covered  
to a high degree of certainty by opposing currency effects from  
the underlying transactions.  
related financial receivables and liabilities. If negative fair values  
from the valuation of hedges are offset by currency gains  
from the underlying transactions, these derivatives are not  
accounted for (freezing method). Provisions are recognized  
for any amounts in excess of that. The hedging period is one  
to a maximum of twelve years.  
C.20  
Derivative financial instruments: valuation units  
Dec. 31, 2018  
Hedging  
instrument  
Hedged  
volume  
Positive  
fair value  
Negative  
fair value  
In millions of euros  
Exchange rate / interest rate risk  
Interest rate contracts  
33,495  
1,007  
237  
0
-ꢀ352  
-ꢀ27  
of assets and liabilities  
Foreign exchange contracts  
Foreign exchange contracts  
Commodity forward contracts  
Exchange rate risk of future transactions  
Purchase price risk of future transactions  
35,413  
549  
434  
35  
-ꢀ582  
-ꢀ63  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 25  
Commodity forward contracts  
Other financial obligations  
Raw-material hedges with Group-external counterparties are  
combined into valuation units (micro hedges) with opposing  
hedges within the Group. For raw-material hedges with Group-  
external counterparties that are not opposed by any corre-  
sponding hedges within the Group, to the extent that applicable  
statutory requirements can be fulfilled, commodity forward  
contracts are combined in valuation units (portfolio hedges) with  
the price-change effects of the future material purchases they  
Other financial obligations total €30,609 million (thereof due  
in 2019: €22,205 million). Such obligations to subsidiaries  
amount to €7,996 million (thereof due in 2019: €4,757 million);  
such obligations to associated companies amount to €5 million  
(thereof due in 2019: €5 million).  
In connection with vehicle sales and leasing, buyback obliga-  
are intended to hedge. To the extent that negative fair values tions exist in an amount of €5,273 million (thereof due in  
from the valuation of hedges are opposed by positive price-  
change effects from the expected underlying transactions,  
derivatives are not accounted for (freezing method); in this case,  
the corresponding losses are recognized in profit and loss for  
the period when the price-change effects from the purchases  
of raw materials are recognized. Provisions are recognized for  
any amounts in excess of that. The hedging period is generally  
one to four years. Setting hedging rates lower than the planned  
material requirements and decreasing as time passes ensures  
that the future cash flows from the derivatives are covered to  
a high degree of certainty by opposing price-change effects of  
the hedged materials.  
2019: €2,149 million). Such obligations to subsidiaries amount  
to €3,767 million (thereof due in 2019: €1,740 million).  
Other financial obligations resulting from rental and leasing  
agreements amount to €2,813 million (thereof due in 2019:  
€1,096 million). Of that total, €1,903 million relates to subsid-  
iaries (thereof due in 2019: €870 million). Rental obligations  
to property management companies amount to €1,758 million  
(thereof due in 2019: €855 million).  
The remaining financial obligations, in particular purchase  
commitments, are of a magnitude typical for the industry.  
Contingent liabilities  
Contingent liabilities relate to potential future events, the  
occurrence of which would lead to an obligation. At the balance  
sheet date, the contingent liabilities of Daimler AG were  
reviewed with consideration of available knowledge about the  
financial position, cash flows and profitability of business  
partners with regard to the risk situation. Daimler AG therefore  
assesses the risk of possible claims on all the listed obligations  
as unlikely. At December 31, 2018, contingent liabilities  
amount to €86,437 million (2017: €69,275 million), primarily  
consisting of guarantees. They include guarantees to domestic  
and foreign subsidiaries amounting to €86,393 million (2017:  
69,132 million), which primarily comprise guarantees pro-  
vided to creditors of subsidiaries of Daimler AG, for example  
for loans they have taken out and bonds they have issued  
and liabilities to banks. To the benefit of co-shareholders of  
Mercedes-Benz (China) Ltd., Daimler AG is liable for guaran-  
teed dividends for 2018 and following years.  
Guarantees were issued for the benefit of third parties in a  
total amount of €44 million (2017: €143 million).  
26  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Related party relationships pursuant to  
Section 285 No. 21 of the German Commercial  
Code (HGB)  
Legal proceedings  
Daimler AG and its subsidiaries are confronted with various  
legal proceedings, claims as well as governmental investi-  
gations and orders (legal proceedings) on a large number of top-  
ics, including vehicle safety, emissions, fuel economy, financial  
services, dealer, supplier and other contractual relationships,  
intellectual property rights, product warranties, environmental  
matters, antitrust matters (including actions for damages)  
and shareholder matters. Legal proceedings relating to prod-  
ucts deal with claims on account of alleged vehicle defects.  
Some of these claims are asserted by way of class action suits. If  
Subsidiaries and associated companies  
Most of the goods and services supplied within the ordinary  
course of business between Daimler AG and related parties  
comprise transactions with subsidiaries and associated com-  
panies and are included in table  
C.21.  
Board members  
Throughout the world, Daimler AG has business relationships  
with numerous entities that are also customers and/or suppliers the outcome of such legal proceedings is detrimental to Daim-  
of Daimler AG. Those customers and/or suppliers include ler, the Group may be required to pay substantial compensa-  
companies that have a connection with some of the members of tory and punitive damages or to undertake service actions,  
the Supervisory Board or Board of Management of Daimler AG  
or its subsidiaries.  
recall campaigns, monetary penalties or other costly actions.  
Legal proceedings may have an impact on the Group’s reputa-  
tion.  
Diesel emission behavior: Class action and other lawsuits  
in the United States and Canada  
As already reported, several consumer class action lawsuits  
were filed against Mercedes-Benz USA, LLC (MBUSA) in federal  
courts in the United States in early 2016. The main allegation  
was the use of devices that impermissibly impair the effective-  
ness of emission control systems in reducing nitrogen-oxide  
C.21  
Business between Daimler AG and related parties  
Associated  
companies  
Subsidiaries  
In millions of euros  
(
NO ) emissions and which cause excessive emissions from  
Sales of goods and services  
and other income in 2018  
X
14,238  
2,365  
2,473  
400  
5,815  
246  
vehicles with diesel engines. In addition, plaintiffs alleged that  
consumers were deliberately deceived in connection with the  
advertising of Mercedes-Benz diesel vehicles. Those consumer  
class actions were consolidated into one class action pending  
against both Daimler AG and MBUSA in the US District Court  
for the District of New Jersey, in which the plaintiffs asserted  
various grounds for monetary relief on behalf of a nation-wide  
class of persons or entities who owned or leased certain models  
of Mercedes-Benz diesel vehicles as of Februaryꢀ18, 2016.  
Daimler AG and MBUSA moved to dismiss the lawsuit in its  
entirety. By order dated December 6, 2016, the court granted  
Daimler AG’s and MBUSA’s motion to dismiss and dismissed  
the lawsuit without prejudice, based on plaintiffs’ failure to allege  
with sufficient specificity the advertising that they contended  
had misled them. Plaintiffs subsequently filed an amended class  
action complaint in the same court making similar allegations.  
The amended complaint also adds as defendants Robert Bosch  
LLC and Robert Bosch GmbH (collectively; “Bosch”), and  
alleges that Daimler AG and MBUSA conspired with Bosch to  
deceive US regulators and consumers. On February 1, 2019,  
the Court granted in part and denied in part Daimler AG und  
MBUSA’s subsequent motion to dismiss. The case is ongoing  
as the Court’s decision merely addressed certain legal  
aspects of plaintiffs’ claims and did not decide whether the  
plaintiffs can ultimately prove their claims, whether the plain-  
tiffs’ allegations are true, or whether their claims have merit.  
Daimler AG and MBUSA view the lawsuit as being without  
merit and will defend against the claims.  
Purchases of goods and services  
and other expenses in 2018  
Receivables  
at December 31, 2018  
1,753  
52  
Payables  
at December 31, 2018  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 27  
On January 8, 2019, the Arizona State Attorney General filed a  
(SEC), the European Commission, with which Daimler AG has  
filed a leniency application and which meanwhile has opened  
a formal investigation into possible collusion on clean emission  
technology, as well as national antitrust authorities and other  
authorities of various foreign states as well as the German  
Federal Financial Supervisory Authority (BaFin), the German  
Federal Ministry of Transport and Digital Infrastructure (BMVI)  
and the German Federal Motor Transport Authority (KBA),  
the diesel emissions committee of inquiry of the German Par-  
liament of the previous legislative period and the Stuttgart  
district attorney’s office. The Stuttgart district attorney’s office  
is conducting criminal investigation proceedings against  
Daimler employees concerning the suspicion of fraud and crimi-  
civil complaint in Arizona state court against Daimler AG and  
MBUSA making similar allegations that Arizona consumers  
were deliberately deceived in connection with the advertising  
of Mercedes-Benz diesel vehicles. The state seeks monetary  
penalties for violation of Arizona’s consumer protection laws.  
Daimler AG and MBUSA view this lawsuit as being without  
merit.  
Another consumer classaction lawsuit against Daimler AG and  
other companies of the Group containing similar allegations  
was filed in Canada in April 2016. On June 29, 2017, the court  
granted a procedural motion to certify certain issues for class  
treatment, and on Marchꢀ12, 2018 the court ordered the parties nal advertising, and, in May 2017, searched the premises of  
Daimler at several locations in Germany. In the second and  
third quarter of 2018, KBA issued administrative orders hold-  
ing that certain calibrations of specified functionalities in cer-  
tain Mercedes-Benz diesel vehicles are to be qualified as  
impermissible defeat devices and ordered subsequent auxiliary  
to send a notice to the class by Mayꢀ18, 2018, informing class  
members that the litigation is ongoing and they will be bound  
by the outcome. That notice was sent, and class members had  
until July 20, 2018 to opt out of the class to avoid being bound  
by subsequent rulings in the case. Daimler also regards this  
lawsuit as being without merit and will defend against the claims. provisions for the respective EU type approvals in this respect,  
including a stop of the first registration and mandatory recall.  
On Julyꢀ14, 2017, an additional class action was filed in the  
Superior Court of California, Los Angeles County, against  
Daimler AG and other companies of the Group, alleging claims  
similar to the existing US class action. That action was  
removed to federal court and, on October 31, 2017, was trans-  
ferred to the District of New Jersey. On December 21, 2017  
Daimler filed timely objections against such administrative  
orders in order to have the open legal issues resolved, if nec-  
essary, also by a court of law. In the course of its regular mar-  
ket supervision, KBA routinely conducts further reviews of  
Mercedes-Benz vehicles. It cannot be ruled out that in the  
course of further investigations KBA will issue additional  
the parties stipulated to dismiss, without prejudice, that lawsuit. administrative orders making similar findings. Daimler has  
It may be filed again under specific conditions, but Daimler  
also regards this lawsuit as being without merit.  
implemented a temporary delivery and registration stop with  
respect to certain models and reviews constantly whether it  
can lif this delivery and registration stop in whole or in part.  
The new calibration requested by KBA in its administrative  
order of the second quarter of 2018 has meanwhile been  
Diesel emission behavior: Governmental proceedings  
Furthermore, several state and federal authorities and other  
institutions worldwide have inquired about and/or are conduct- completed and the relevant sof ware has been approved by  
ing investigations and/or administrative proceedings and/or  
have issued administrative orders. These particularly relate to  
test results, the emission control systems used in Mercedes-  
Benz diesel vehicles and/or Daimler’s interaction with the  
relevant state and federal authorities as well as related legal  
issues and implications, including, but not limited to, under  
KBA; the related recall has in the meanwhile been initiated. It  
cannot be ruled out, however, that further delivery and regis-  
tration stops may be ordered or resolved by the Company as a  
precautionary measure under the relevant circumstances.  
Daimler has initiated further investigations and otherwise con-  
applicable environmental, securities, criminal and antitrust laws. tinues to fully cooperate with the authorities and institutions.  
These authorities and institutions include, among others, the As the aforementioned inquiries, investigations, administrative  
U.S. Department of Justice (DOJ), which in April 2016 requested proceedings and the replies to these related information  
that Daimler AG review its certification and admissions pro-  
cesses related to exhaust emissions of diesel vehicles in the  
United States by way of an internal investigation in cooperation  
with the DOJ, the U.S. Environmental Protection Agency (EPA),  
the California Air Resources Board (CARB) and other US state  
authorities, the U.S. Securities and Exchange Commission  
requests, the objection proceedings against the administrative  
orders as well as Daimler’s internal investigations are ongoing.  
28  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Antitrust law proceedings (including actions for damages)  
Starting on July 25, 2017, a number of class actions have been  
filed in the United States and Canada against Daimler AG and  
other manufacturers of automobiles as well as various of their  
North American subsidiaries. Plaintiffs allege to have suffered  
damages because defendants engaged in anticompetitive  
behavior relating to vehicle technology, costs, suppliers, mar-  
kets, and other competitive attributes, including diesel emis-  
sions control technology, since theꢀ1990s. On October 4, 2017,  
all pending US class actions were centralized in one proceeding  
by the Judicial Panel on Multidistrict Litigation and transferred  
Class action lawsuits Takata airbag inflators  
As already reported, in August 2016, Mercedes-Benz Canada  
(MB Canada) was added as a defendant to a putative nation-  
wide class action pending in Ontario Superior Court. The main  
allegation in the matter is that MB Canada, along with Takata  
entities and many other companies that sold vehicles equipped  
with Takata airbag inflators, was allegedly negligent in selling  
such vehicles, purportedly not recalling them quickly enough,  
and failing to provide an allegedly adequate replacement airbag  
inflator. In addition, on June 28, 2017, Takata entities along with  
Daimler AG and MBUSA were named as defendants in a U.S.  
to the U.S. District Court for the Northern District of California. nation-wide class action, which was filed in New Jersey federal  
On Marchꢀ15, 2018, plaintiffs in the US class action amended  
and consolidated their complaints into two pleadings, one on  
behalf of consumers and the other on behalf of dealers. On  
Juneꢀ1, 2018, the court dismissed Mercedes-Benz U.S. Interna-  
tional, Inc., Mercedes-Benz Vans, LLC, and Daimler North  
court and includes allegations that are similar to the Canadian  
action. In the third quarter of 2017, the New Jersey lawsuit was  
transferred to federal court in the Southern District of Florida  
for consolidation with other multi-district litigation proceedings.  
Then, on Marchꢀ14, 2018, Daimler AG and MBUSA were named  
America Corp., pursuant to the parties’ stipulation. Daimler AG as defendants in two additional US nation-wide class action  
and MBUSA remain parties in the case, regard the US and complaints, one filed in Georgia federal court, and the other filed  
Canadian lawsuits as being without merit, and will defend against into the multi-district litigation proceedings pending in Florida.  
the claims.  
The allegations in these new complaints are similar to those in  
the Canadian and New Jersey actions. The U.S. cases have  
In this context, Daimler AG may disclose that it filed an applica- been centralized in one proceeding by the Judicial Panel on  
tion for immunity from fines (leniency application) with the Multidistrict Litigation and transferred to the U.S. District Court  
European Commission some time ago. In late October 2017, the for the Southern District of Florida, which is overseeing litiga-  
European Commission conducted preannounced inspections  
with Daimler in Stuttgart (as well as further inspections with  
other manufacturers) in order to further clarify the facts of the  
tion against Takata and other manufacturers of automobiles. The  
previously reported lawsuit filed by the State of New Mexico,  
which also made similar claims against MBUSA and many other  
case. In the third quarter of 2018, the European Commission companies that sold vehicles equipped with Takata airbag infla-  
opened a formal investigation into possible collusion on clean  
emission technology.  
tors, was dismissed without prejudice on June 22, 2017. It may,  
however, be filed again under specific conditions. Daimler AG  
continues to regard all these lawsuits brought with regard to  
Following the settlement decision by the European Commission Mercedes-Benz vehicles as being without merit, and the Daimler  
adopted on Julyꢀ19, 2016, concluding the trucks antitrust pro- Group affiliates respectively affected will further defend them-  
ceedings, Daimler AG faces customers’ claims for damages to selves against the claims.  
a considerable degree. Respective legal actions, class actions  
and other forms of legal redress have been initiated in various Refrigerant  
states in and outside of Europe and should further be expected.  
Daimler is taking appropriate legal remedies to defend itself.  
Pursuant to EU Directive 2006/40/EC, since Januaryꢀ1, 2011,  
vehicles only receive new type approvals if their air-conditioning  
units are filled with a refrigerant that meets certain criteria  
with regard to climate friendliness. For vehicles produced on  
the basis of type approvals granted previously, the directive  
allowed a period of transition until December 31, 2016. Mer-  
cedes-Benz vehicles fully comply with the legal requirements  
in force since Januaryꢀ1, 2017 through the application of CO2  
air-conditioning and the refrigerant R1234yf in combination  
with safety devices that are used as necessary depending on  
each vehicle’s configuration. In December 2016, the EU Com-  
mission initiated infringement proceedings against the Federal  
Republic of Germany in the European Court of Justice (ECJ). The  
Commission saw a contravention by the German authorities of  
the European type-approval frame directive and of the direc-  
tive on emissions from air-conditioning systems in motor vehi-  
cles. In March 2017, Germany’s Federal Motor Transport  
On June 23, 2016, the German Federal Cartel Office carried  
out dawn raids at several car manufacturers and suppliers,  
including Daimler AG, with regard to steel purchasing. Daimler  
is cooperating in full with the authority.  
Authority issued Daimler AG with an injunction requiring to  
retrofit such vehicles in which, in the first half of 2013 and for  
reasons of safety, the previously used refrigerant R134a had  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 29  
been used. Daimler AG considered the request to be unfounded  
On July 6, 2018, the arbitral tribunal issued an award on agreed  
terms terminating the arbitration proceedings on the basis of  
the settlement.  
and had filed an objection to the injunction. On October 4, 2018,  
the ECJ ruled in the infringement proceedings that the Federal  
Republic of Germany had contravened European Union law,  
inter alia, by not ordering the changeover of the relevant vehicles The settlement agreement is composed of different elements.  
within the period specified by the Commission. Subsequently,  
Daimler AG has withdrawn the objection, and will carry out the  
requested retrofit of the affected vehicles. A provision was  
already recognized in the financial year of 2018 for the retro-  
fitting of the vehicles still operating with the previously used  
One material element is a cash payment (hereinaf er: settlement  
payment) by Toll Collect GbR of €1.1 billion that has to be  
transferred in three tranches until 2020 and equally divided  
between Daimler Financial Services AG and Deutsche Telekom  
AG. The first tranche in the amount of €400 million was paid to  
refrigerant R134a. No other significant risks are expected in this the Federal Republic of Germany on Augustꢀ1, 2018, equally  
respect.  
divided between Daimler Financial Services AG and Deutsche  
Telekom. The settlement takes into account claims of Toll  
Collect GmbH with regard to the remuneration pursuant to the  
operating agreement withheld monthly by the Federal Republic  
of Germany since June 2006. It also takes into account penalty  
payments for delays already settled by the shareholders of  
Toll Collect GbR and related interest. Further elements of the  
settlement agreement relate to the determination of the pur-  
chase price for the shares in Toll Collect GmbH on August 31,  
2018 as well as the obligation to achieve a certain quality  
Toll Collect  
In 2002, our subsidiary Daimler Financial Services AG, together  
with Deutsche Telekom AG and Compagnie Financière et  
Industrielle des Autoroutes S.A.ꢀ(Cofiroute) entered into a  
consortium agreement for the purpose of jointly operating a  
system for the electronic collection of tolls for commercial  
vehicles using German highways under a contract with the  
Federal Republic of Germany (operating agreement) through  
the project company Toll Collect GmbH. Until August, 31, 2018, regarding the collection of tolls. Should this quality parameter  
Daimler Financial Services AG and Deutsche Telekom AG each  
held a 45% equity interest in the project company Toll Collect  
GmbH, and Cofiroute S.A. held the remainingꢀ10%. The consor-  
not be achieved, the settlement payment to the Federal  
Republic of Germany will be increased by €50 million. On  
Novemberꢀ15, 2018, Daimler Financial Services AG and  
tium continues to hold the equity interest in Toll Collect GbR. Deutsche Telekom AG have received the written confirmation  
from the Federal Republic of Germany that the quality parame-  
The Federal Republic of Germany declared its acceptance of  
the offer to take over all shares in Toll Collect GmbH on  
August 31, 2018 and acquired the company as scheduled on  
Septemberꢀ1, 2018.  
ters have been reached. Overall, the total settlement payments  
to the Federal Republic of Germany amount to €3.2 billion.  
In context with the settlement reached in the Toll Collect  
arbitration proceedings, Daimler AG paid an income subsidy  
According to the operating agreement, the toll collection system to its subsidiary Daimler Financial Services AG in an amount  
had to be operational not later than August 31, 2003. Af er a  
delay of the launch date, the system was largely introduced on  
Januaryꢀ1, 2005. The final operating permit was granted on  
of €620 million.  
All known and unknown claims from the toll agreement that  
July 4, 2018, in connection with the settlement of the pending arose until March 31, 2018 are settled under the settlement  
arbitration proceedings. The Federal Republic of Germany  
had initiated arbitration proceedings against Daimler Financial  
Services AG, Deutsche Telekom AG and Toll Collect GbR in  
September 2004. In the first half of 2017, the shareholders  
Deutsche Telekom AG and Daimler Financial Services AG  
asserted counterclaims relating to breaches of duty by the  
Federal Republic of Germany with regard to the delay in the start  
of the toll system. Toll Collect GmbH had also initiated an  
provided that the related damage occurred before March 31,  
2018.  
Failure to comply with various obligations under the operating  
agreement during the period from Aprilꢀ1, 2018 until the end  
of the operating agreement on August 31, 2018 may result in  
contract penalties, additional revenue reductions and damage  
claims. However, contract penalties and revenue reductions are  
arbitration proceeding against the Federal Republic of Germany capped at €100 million per operating year (increasing by  
in order to recover the advance payments withheld by the Fed-  
eral Republic of Germany of €8 million per month since June  
3% per financial year). At present, no respective facts are  
known.  
2006, as well as other remuneration in dispute.  
On July 4, 2018, through its subsidiary Daimler Financial  
Services AG, Daimler AG together with Deutsche Telekom AG  
notarized a settlement agreement (hereinaf er: settlement)  
with the Federal Republic of Germany which settles all arbitra-  
tion proceedings in connection with the involvement in the  
Toll Collect consortium, which have been ongoing since 2004.  
30  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Irrespective of the settlement, the guarantees relating to  
the completion and operation of the toll collection system as  
stated in the operating agreement or other additional agree-  
ments and the responsibility to fulfill all relevant obligations  
from Aprilꢀ1, 2018 until the end of the operating agreement  
on August 31, 2018 remain unchanged. At present, no respec-  
tive facts are known.  
Remuneration of the members of the  
Board of Management and the Supervisory  
Board  
The following information regarding the remuneration of the  
members of the Board of Management and of the Supervisory  
Board is disclosed on an individual basis in the Remuneration  
Report. The Remuneration Report is a component of the  
Combined Management Report for Daimler AG and the Daimler  
Group.  
Guarantees, which are subject to specific triggering events  
are described below:  
Guarantee of bank loans. Daimler AG issued a guarantee to  
Board of Management remuneration  
third parties up to a maximum amount of €100 million for  
bank loans which could be obtained by Toll Collect GmbH. In  
September 2018 Daimler AG was released of this guarantee  
obligation.  
The total remuneration (excluding retirement benefit commit-  
ments) granted to the members of the Board of Management of  
Daimler AG pursuant to Section 285 No. 9 of the German Com-  
mercial Code (HGB) is calculated as the total of the amounts of  
the base salary in 2018,  
Equity capitalization. The consortium members have agreed  
– the half of the annual bonus for 2018 payable in 2019 with  
its value at the balance sheet date,  
– the half of the medium-term share-based component of the  
annual bonus for 2018 (“deferral”) payable in 2020 with its  
value at the balance sheet date (entitlement depending on  
the development of Daimler’s share price compared with  
the STOXX Europe Auto Index),  
– the value of the long-term share-based remuneration  
(Performance Phantom Share Plan – PPSP) at the time when  
granted in 2018 (payable in 2022), and  
within the settlement to ensure that Toll Collect GmbH disposes  
of a minimum equity of €50 million and a minimum liquidity of  
10 million as of August 31, 2018. The minimum equity and the  
minimum liquidity have been confirmed on Decemberꢀ17, 2018,  
with the authorization of Toll Collect GmbH financial statements  
as of August 31, 2018. Should damage claims, reductions of  
compensation or other events that take place af er March 31,  
2
018 lead subsequently to a decrease of Toll Collect GmbH`s  
equity below the minimum contractually agreed, the members  
of the consortium are obliged to financially ensure that the  
minimum equity of Toll Collect GmbH is achieved anew.  
– taxable non-cash benefits in 2018 and other fringe benefits.  
For both of the share-based components of remuneration –  
both the deferred payment of the second 50% of the annual  
bonus (deferral) and the PPSP with a long-term orientation –  
the amounts to be paid out can deviate significantly from  
the values described, depending on the development of the  
Daimler share price and on the achievement of the relevant  
target parameters. Upward deviation is limited. Both compo-  
nents can also be zero. Further information on share-based  
Cofiroute’s risks and obligations are limited to €70 million.  
Daimler Financial Services AG and Deutsche Telekom AG are  
jointly obliged to indemnify Cofiroute for amounts exceeding  
this limitation.  
Accounting estimates and management judgments  
Daimler AG recognizes provisions in connection with pending  
or threatened proceedings to the extent a loss is probable and  
can be reasonably estimated. Such provisions are recognized  
in the financial statements and are based on estimates. Risks  
resulting from legal proceedings sometimes cannot be  
remuneration is provided in the  
the Remuneration Report.  
E
“Equity” chapter and in  
In 2018, €9.3 million was fixed, that is, non-performance-  
assessed reliably or only to a limited extent. Consequently, pro- related remuneration (2017: €9.3 million), €5.0 million (2017:  
visions recognized for some legal proceedings may turn out to  
be insufficient once such proceedings have ended. Daimler AG  
may also become liable for payments in legal proceedings for  
€15.3 million) was short- and medium-term performance-  
related variable remuneration (annual bonus with deferral) and  
€10.2 million was variable performance-related remuneration  
which no provisions were recognized. Uncertainty exists with granted in 2017 with a long-term incentive effect (PPSP:ꢀ145,775  
regard to the amounts or due dates of possible cash outflows. phantom shares to €70.13) (2017: €10.2 million,ꢀ151,157 phantom  
Although the final result of any such proceedings could mate- shares to €67.49). This adds up to a total of €24.5 million for  
rially affect Daimler’s operating results and cash flows for a  
particular reporting period, Daimler believes that it should not  
exert a sustained influence on its financial position.  
2018 (2017: €34.8 million).  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 31  
The members of the Board of Management are entitled to a  
Payments made in 2018 to former members of the Board of  
company pension. The system upon which that pension is based Management of Daimler AG and their survivors amounted to  
was last adjusted by the Supervisory Board for members newly a total of €16.2 million (2017: €19.0 million). Pension obligations  
appointed as of 2012. Service cost and present value have  
for former members of the Board of Management and their  
been calculated with consideration of the parameters used to survivors amounted to €234.8 million at December 31, 2018  
calculate the pension obligation. The service cost of the pension (2017: €223.5 million).  
obligation in 2018 was €2.2 million (2017: €1.7 million). The  
present value of the total obligation at December 31, 2018 was In 2018, no advances or loans were made to members of the  
73.4 million (2017: €66.2 million). Taking age and years of  
service into consideration, the individual pensions, service costs  
and present values are as shown in table C.22.  
Board of Management of Daimler AG.  
Supervisory Board remuneration  
Total remuneration for the members of the Supervisory Board  
of Daimler AG amounted to €4.2 million in 2018 (2017: €4.2  
million). The remuneration of the members of the Supervisory  
Board does not include a performance-related variable compo-  
nent.  
In the case of early termination of a service contract without  
an important reason, Board of Management service contracts  
include commitments to payment of the base salary and pro-  
vision of a company car until the end of the original service  
period at a maximum. However, entitlement to the payment of  
the annual bonus exists only pro-rata for the time until the  
termination of the service contract. Entitlement to payment of  
the performance-related component of remuneration with a  
With the exception of the remuneration paid to the members  
of the Supervisory Board representing the employees in accor-  
dance with their contracts of employment, no remuneration  
long-term incentive effect (PPSP) that has already been allocated was paid to the members of the Supervisory Board for services  
is defined by the conditions of the respective plans. To the  
extent that the benefits described above are subject to the  
provided personally beyond their board and committee activities  
in 2018, in particular for advisory or agency services.  
provisions of the so-called severance cap of the German Cor-  
porate Governance Code, their total including fringe benefits  
is limited to double the annual remuneration and may not  
exceed the total remuneration for the remaining period of the  
service contract.  
In 2018, no advances or loans were made to members of the  
Supervisory Board of Daimler AG.  
C.22  
Individual entitlements, service costs and present values for members of the Board of Management  
Present value1  
of obligations  
Annual pension  
Service cost  
(for pension,  
pension capital and  
Daimler Pensions Plan)  
(
as regulated  
until 2005)  
as of age 60  
(for pension,  
pension capital and  
Daimler Pensions Plan)  
In thousands of euros  
Dr. Dieter Zetsche  
Dr. Wolfgang Bernhard2  
Martin Daum3  
2018  
017  
2018  
017  
2018  
017  
2018  
017  
2018  
017  
2018  
017  
2018  
017  
2018  
017  
2018  
017  
1,050  
35,378  
2
1,050  
33,936  
39  
2
244  
102  
3,011  
2,497  
2
Renata Jungo Brüngger  
Ola Källenius  
251  
244  
1,224  
847  
2
255  
246  
2,632  
2,198  
2
Wilfried Porthꢀ  
156  
156  
234  
216  
9,525  
8,086  
2
Britta Seeger  
247  
122  
1,285  
833  
2
Hubertus Troska  
Bodo Uebber  
244  
237  
4,977  
4.463  
2
275  
275  
734  
539  
15,344  
13,400  
2
Total  
2018  
017  
1,481  
1,481  
2,209  
1,745  
73,376  
66,260  
2
1
2
3
The amounts of the present values are primarily due to the low level of the relevant discount rate.  
2017: Mr. Dr. Bernhard proportionately until Februaryꢀ10, 2017  
2017: Mr. Daum proportionately since Marchꢀ1, 2017  
32  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Disclosures pursuant to Sectionꢀ160  
Subsectionꢀ1 No. 8 of the German Stock  
Corporation Act (AktG)  
Bank of America Corporation, Wilmington, Delaware, USA,  
notified us on Mayꢀ15, 2018 pursuant to Section 33 Subsectionꢀ1  
of the German Securities Trading Act (WpHG) that its percent-  
age of voting rights in Daimler AG, Mercedesstr.ꢀ137, 70327  
At the balance sheet date of December 31, 2018, shareholdings Stuttgart, Germany, exceeded the threshold of 3% on May 9,  
in the Company exist that were communicated pursuant to 2018 and amounts to 3.30% (equal to 35,313,653 out of a  
Section 33 Subsectionꢀ1 and Section 21 Subsectionꢀ1 [old ver- total ofꢀ1,069,837,447 voting rights) as of that date. Of these  
sion] of the German Securities Trading Act (WpHG) and dis-  
closed pursuant to Section 40 Subsectionꢀ1 and Section 26  
Subsectionꢀ1 [old version] of the WpHG as follows:  
voting rights, 3.30% (equal to 35,313,653 voting rights) are to  
be attributed to Bank of America Corporation, Wilmington,  
Delaware, USA, pursuant to Section 34 of the WpHG. 3% or  
more of the voting rights are held directly by Merrill Lynch  
International as of that date.  
BlackRock, Inc., Wilmington, Delaware, USA, notified us on  
December 20, 2018 pursuant to Section 33 Subsectionꢀ1 in  
conjunction with Section 37 of the German Securities Trading  
Act (WpHG) that its percentage of voting rights in Daimler AG,  
Mercedesstr.ꢀ137, 70327 Stuttgart, Germany, exceeded the  
threshold of 5% on Decemberꢀ17, 2018 and amounts to 5.12%  
Renault S.ꢀA., Boulogne-Billancourt, France, has notified us  
pursuant to Section 21 Subsectionꢀ1 of the German Securities  
Trading Act (WpHG)[old version] that its percentage holding of  
the voting rights in Daimler AG, Mercedesstr.ꢀ137, 70327 Stutt-  
gart, Germany, exceeded the threshold of 3% on April 28, 2010  
and amounts to 3.10% (32,896,756 voting rights) on that day.  
Thereofꢀ16,448,378 voting rights (representingꢀ1.55% of the  
voting rights in Daimler AG) directly held by Nissan Motor Co.  
Ltd. are attributable to Renault S.ꢀA. pursuant to Section 22  
Subsection 2 of the WpHG [old version].  
(
equal to 54,731,146 out of a total ofꢀ1,069,837,447 voting  
rights) as of that date. Of these voting rights, 5.12% (equal to  
4,731,146 voting rights) are to be attributed to BlackRock,  
5
Inc. Wilmington, Delaware, USA, pursuant to section 34 of the  
WpHG. The notification was made when the threshold of 5%  
of the voting rights in Daimler AG was exceeded by BlackRock  
HoldCo 2. Inc. and BlackRock Financial Management, Inc.  
Nissan Motor Co. Ltd., Yokohama, Japan, has notified us  
Li Shufu, notified us on December 5, 2018 pursuant to Section pursuant to Section 21 Subsectionꢀ1 of the German Securities  
3
3 Subsectionꢀ1 in conjunction with Section 37 of the German  
Trading Act (WpHG)[old version] that its percentage holding of  
the voting rights in Daimler AG, Mercedesstr.ꢀ137, 70327 Stutt-  
gart, Germany, exceeded the threshold of 3% on April 28, 2010  
and amounts to 3.10% (32,896,756 voting rights) as of that  
date. Thereofꢀ16,448,378 voting rights (representingꢀ1,55% of  
the voting rights in Daimler AG) directly held by Renault S.ꢀA.  
are attributable to Nissan Motor Co. Ltd. pursuant to Section  
22 Subsection 2 of the WpHG [old version].  
Securities Trading Act (WpHG) that its percentage of voting  
rights in Daimler AG, Mercedesstr.ꢀ137, 70327 Stuttgart, Ger-  
many, exceeded the threshold of 5% on December 3, 2018  
and amounts to 9.69% (equal toꢀ103,619,340 out of a total of  
1
,069,837,447 voting rights) as of that date. Of these voting  
rights, 9.69% (equal toꢀ103,619,340 voting rights) are to be  
attributed to Li Shufu pursuant to Section 34 of the WpHG. 3%  
or more of the voting rights are held directly by Tenaciou3  
Prospect Investment Limited as of that date. The notification was The Kuwait Investment Authority as Agent for the Govern-  
made on the occasion of touching a threshold at subsidiary  
level as a result of a change in the holding structure.  
ment of the State of Kuwait, Kuwait City, State of Kuwait, has  
notified us pursuant to Section 21 Subsectionꢀ1 of the German  
Securities Trading Act [old version] that the voting rights of the  
State of Kuwait in Daimler AG, Mercedesstr.ꢀ137, 70327 Stutt-  
gart, Germany, exceeded the threshold of 5% on April 22, 2010  
Harris Associates L.P., Wilmington, Delaware, USA, notified  
us on Octoberꢀ22, 2018 pursuant to Section 33 Subsectionꢀ1 of  
the German Securities Trading Act (WpHG) that its percentage of and that it held 5.33% (56,589,320 voting rights) as of that  
voting rights in Daimler AG, Mercedesstr.ꢀ137, 70327 Stuttgart, date. According to the notification, all voting rights are directly  
Germany, fell below the threshold of 5% on Octoberꢀ16, 2018  
and amounts to 4.93% (equal to 52,723,503 out of a total  
ofꢀ1,069,837,447 voting rights) as of that date. Of these voting  
rights, 4.93% (equal to 52,723,503 voting rights) are to be  
attributed to Harris Associates L.P., Wilmington, Delaware, USA,  
pursuant to Section 34 of the WpHG. 3% or more of the voting  
rights are held directly by Harris Associates Investment Trust  
as of that date. On Novemberꢀ1, 2018, Harris Associates Invest-  
ment Trust, Boston, Massachusetts, USA, notified us pursuant  
to Section 33 Subsectionꢀ1 of the WpHG that its voting rights  
in Daimler AG fell below the threshold of 3% on October 29, 2018  
and amounted to 2.99% (equal to 31,994,625 out of a total  
ofꢀ1,069,837,447 voting rights) as of that date.  
held.  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 33  
Af er the balance sheet date, the company received a further  
notification concerning the shareholding of BlackRock, Inc.,  
Wilmington, Delaware, USA, pursuant to Section 33 Subsectionꢀ1  
of the German Securities Trading Act (WpHG), which, pursuant  
to Section 40 Subsectionꢀ1 of the WpHG was disclosed as  
follows:  
BlackRock, Inc., Wilmington, Delaware, USA, notified us on  
Februaryꢀ7, 2019 pursuant to Section 33 Subsectionꢀ1 in con-  
junction with Section 37 of the German Securities Trading Act  
(
WpHG) that its percentage of voting rights in Daimler AG,  
Mercedesstr.ꢀ137, 70327 Stuttgart, Germany, exceeded the  
threshold of 5% on February 4, 2019 and amounts to 5.11%  
(
equal to 54,697,877 out of a total ofꢀ1,069,837,447 voting  
rights) as of that date. Of these voting rights, 5.11% (equal to  
4,697,877 voting rights) are to be attributed to BlackRock,  
5
Inc. Wilmington, Delaware, USA, pursuant to section 34 of the  
WpHG. The notification was made when the threshold of 5%  
of the voting rights in Daimler AG was exceeded by BlackRock  
HoldCo 2. Inc. and BlackRock Financial Management, Inc.  
Declaration of Compliance with the  
German Corporate Governance Code  
The mandatory statement pursuant to Sectionꢀ161 of the  
German Stock Corporation Act (AktG) has been issued  
by the Board of Management and the Supervisory Board and  
is permanently accessible at  
corporate-governance/declarations/ꢁ.  
www.daimler.com/company/  
w
3
4
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Members of the Board of Management and their mandates  
Members of the Board of Management  
Supervisory board memberships/directorships  
Dr.-Ing. Dieter Zetsche  
Stuttgart  
Internal directorships  
None  
Chairman of the Board of Management Daimler AG/  
Head of Mercedes-Benz Cars  
Appointed until December 2019  
Resignation with effect as of the end of the Annual Meeting  
External directorships  
TUI AG (since February 13, 2018)  
Veta Health LLC  
2019  
Martin Daum  
Stuttgart  
Internal directorships  
None  
Daimler Trucks & Buses  
Appointed until February 2022  
External directorships  
Beijing Foton Daimler Automotive Co., Ltd.  
Renata Jungo Brüngger  
Stuttgart  
Internal directorships  
None  
Integrity and Legal Affairs  
Appointed until December 2023  
External directorships  
Münchener Rückversicherungs-Gesellschaft  
Aktiengesellschaft in München  
Ola Källenius  
Internal directorships  
Mercedes AMG High Performance Powertrains Ltd. –  
Chairman  
Mercedes-Benz Formula E Ltd.  
Mercedes-Benz Grand Prix Ltd.  
Stuttgart  
Group Research & Mercedes-Benz Cars Development  
Appointed until December 2022  
Appointed as Chairman of the Board of Management Daimler  
AG/Head of Mercedes-Benz Cars with effect as of the end of  
the Annual Meeting 2019 until May 2024  
External directorships  
HERE International B.V.  
Shenzhen DENZA New Energy Automotive Co., Ltd.  
Tetra Laval Group  
Wilfried Porth  
Stuttgart  
Internal directorships  
None  
Human Resources and Director of Labor Relations  
&
Mercedes-Benz Vans  
External directorships  
Appointed until April 2022  
VfB Stuttgartꢀ1893 AG – Vice Chairman  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 35  
Members of the Board of Management  
Supervisory board memberships/directorships  
Britta Seeger  
Internal directorships  
Stuttgart  
Daimler Financial Services AG  
Mercedes-Benz (China) Ltd. - Vice Chairman  
Mercedes-Benz Formula E Ltd.  
Mercedes-Benz Grand Prix Ltd.  
Mercedes-Benz South Africa Ltd.  
Mercedes-Benz Cars Marketing & Sales  
Appointed until December 2024  
External directorships  
Beijing Mercedes-Benz Sales Service Co., Ltd.  
Laureus World Sports Awards Ltd.  
Hubertus Troska  
Stuttgart  
Greater China  
Internal directorships  
Daimler Greater China Ltd. – Chairman  
Daimler Northeast Asia Parts Trading & Services Co., Ltd. –  
Chairman  
Appointed until December 2020  
Daimler Trucks and Buses (China) Ltd. - Chairman  
Daimler Vans Hong Kong Ltd. – Chairman  
Mercedes-Benz Auto Finance Ltd.  
Mercedes-Benz Leasing Co., Ltd.  
Mercedes-Benz (China) Ltd.  
Mercedes-Benz Hong Kong Ltd.  
Mercedes-Benz Taiwan Ltd.  
External directorships  
BAIC Motor Corporation Ltd.  
Beijing Mercedes-Benz Sales Service Co., Ltd. – Chairman  
Beijing Benz Automotive Co., Ltd. – Vice Chairman  
Beijing Foton Daimler Automotive Co., Ltd. – Vice Chairman  
Fujian Benz Automotive Co., Ltd. – Vice Chairman  
Daimler Culture Development Co., Ltd. - Chairman  
Shenzhen DENZA New Energy Automotive Co., Ltd. – Chairman  
Bodo Uebber  
Internal directorships  
Daimler Financial Services AG – Chairman  
Mercedes-Benz Grand Prix Ltd.  
Stuttgart  
Finance & Controlling/Daimler Financial Services  
Appointed until December 2019  
Resignation with effect as of the end of the Annual Meeting  
External directorships  
2019  
BAIC Motor Corporation Ltd.  
Bertelsmann SE & Co. KGaA / Bertelsmann  
Management SE – Chairman of the  
Audit and Finance Committee  
Delta Topco Ltd.  
In the Supervisory Board meeting on February 13, 2019, Harald Wilhelm was appointed to the Board of Management of  
Daimler AG for a period of 3 years with effect as of April 1, 2019. Bodo Uebber will resign from the Board of Management of  
Daimler AG with effect as of the end of the Annual Meeting 2019 and with effect as of the same time, Harald Wilhelm will  
take over the responsibility for “Finance & Controlling/Daimler Financial Services”.  
36  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Members of the Supervisory Board and their mandates  
Members of the Supervisory Board  
Supervisory board memberships/directorships  
Dr. Manfred Bischoff  
Munich  
SMS Holding GmbH - Member of the Shareholders’ Committee  
Chairman of the Supervisory Board of Daimler AG  
Elected until 2021  
Michael Brecht*  
Gaggenau  
Deputy Chairman of the Supervisory Board of Daimler AG;  
Chairman of the General Works Council, Daimler Group  
and Daimler AG; Chairman of the Works Council, Gaggenau  
Plant, Daimler AG  
Elected until 2023  
Dr. Paul Achleitner  
Munich  
Deutsche Bank AG – Chairman  
Bayer AG  
Chairman of the Supervisory Board of Deutsche Bank AG  
Elected until 2020  
Bader M. Al Saad  
Kuwait  
Kuwait Investment Authority  
Kuwait Fund for Economic Development (since March 5, 2018)  
Former Chairman and Managing Director of the Executive  
Committee of the Board of Directors of Kuwait Investment  
Authority  
Elected until 2022  
Sari Baldauf  
Helsinki  
Vexve Holding Oy – Chairwoman  
Nokia Oyj (since May 30, 2018)  
Former Executive Vice President and General Manager of the  
Networks Business Group of Nokia Corporation  
Elected until 2023  
Fortum Oyj – Chairwoman (until March 28, 2018)  
Deutsche Telekom AG (until May 17, 2018)  
Michael Bettag*  
Nuremberg  
Chairman of the Works Council of the Nuremberg Dealership,  
Daimler AG  
Elected until 2023  
Dr. Clemens Börsig  
Linde AG  
Frankfurt am Main  
Linde Intermediate Holding AG (since Septemer 25, 2018)  
Linde plc (since October 22, 2018)  
Emerson Electric Co.  
Former Chairman of the Supervisory Board of  
Deutsche Bank AG  
Elected until 2022  
Raymond Curry*  
Detroit  
(
since April, 5 2018)  
Secretary-Treasurer United Auto Workers (UAW)  
Elected until 2023  
Dr. Jürgen Hambrecht  
Ludwigshafen  
Chairman of the Supervisory Board of BASF SE  
Elected until 2023  
BASF SE - Chairman  
Fuchs Petrolub SE – Chairman  
Trumpf GmbH + Co. KG – Chairman  
Petraea Heynike  
Vevey  
Former Executive Vice President of the Executive Board  
of Nestlé S.A.  
Elected until 2021  
*
Representative of the employees  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 37  
Members of the Supervisory Board  
Supervisory board memberships/directorships  
Joe Kaeser  
Munich  
Allianz Deutschland AG  
NXP Semiconductors N.V.  
Chairman of the Board of Management of Siemens AG  
Elected until 2019  
Ergun Lümali*  
Sindelfingen  
Chairman of the Works Council, Sindelfingen Plant;  
Deputy Chairman of the General Works Council of Daimler AG  
Elected until 2023  
Wolfgang Nieke*  
Stuttgart  
Chairman of the Works Council, Untertürkheim Plant,  
Daimler AG (until December 31, 2018)  
Until December 31, 2018  
Dr. Bernd Pischetsrieder  
Münchener Rückversicherungs-Gesellschaft  
Aktiengesellschaft in München – Chairman  
Tetra Laval Group  
Munich  
Chairman of the Supervisory Board of Münchener  
Rückversicherungs-Gesellschaft Aktiengesellschaft in München  
Elected until 2019  
Elke Tönjes-Werner*  
Bremen  
Deputy Chairwoman of the Works Council, Bremen Plant,  
Daimler AG  
Elected until 2023  
Sibylle Wankel*  
Frankfurt am Main  
Siemens AG (until January 31, 2018)  
General Legal Counsel of the German Metalworkers’ Union  
(
IG Metall)  
Elected until 2023  
Dr. Frank Weber*  
Sindelfingen  
Director of the Press Shop, Sindelfingen Plant, Daimler AG;  
Chairman of the Management Representatives Committee,  
Daimler Group  
Elected until 2023  
Marie Wieck*  
Cold Spring/New York  
(
since April 5, 2018)  
General Manager IBM Blockchain  
Elected until 2023  
Dr. Sabine Zimmer*  
Stuttgart  
(
since April 5, 2018)  
Manager Vocational Training Policies, Germany, Daimler AG  
Elected until 2023  
Roman Zitzelsberger*  
Heidelberger Druckmaschinen AG (until July 25, 2018)  
MTU Friedrichshafen GmbH (since March 23, 2018)  
Rolls-Royce Power Systems AG (since March 23, 2018)  
Stuttgart  
German Metalworkers’ Union (IG Metall)  
District Manager Baden-Württemberg  
Elected until 2023  
*
Representative of the employees  
38  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Elected as substitute member for Wolfgang Nieke, moved  
up on January 1, 2019:  
Committees of the Supervisory board:  
Committee pursuant to Section 27 Subsection 3  
of the German Codetermination Act (MitbestG)  
Dr. Manfred Bischoff – Chairman  
Michael Brecht*  
Dr. Jürgen Hambrecht  
Roman Zitzelsberger*  
Michael Häberle*  
Stuttgart  
Chariman of the Works Council, Untertürkheim Plant,  
Daimler AG (since January 1, 2019)  
Elected until 2023  
Presidential Committee  
Dr. Manfred Bischoff – Chairman  
Michael Brecht*  
Dr. Jürgen Hambrecht  
Roman Zitzelsberger*  
Retired from the Supervisory Board:  
Andrea Jung  
New York  
President and Chief Executive Officer of Grameen America, Inc.  
retired on April 5, 2018  
Audit Committee  
Dr. Clemens Börsig – Chairman  
Michael Brecht*  
Wolfgang Nieke*  
Stuttgart  
Joe Kaeser  
Chairman of the Works Council, Untertürkheim Plant,  
Daimler AG (until December 31, 2018)  
retired on December 31, 2018  
Ergun Lümali*  
Nomination Committee  
Dr. Manfred Bischoff – Chairman  
Dr. Paul Achleitner  
Valter Sanches*  
Geneva  
Sari Baldauf  
General Secretary IndustriALL Global Union  
retired on April 5, 2018  
Jörg Spies*  
Stuttgart  
Chairman of the Works Council, Headquarters, Daimler AG  
retired on April 5, 2018  
*
Representative of the employees  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 39  
Statement of Investments  
pursuant to Section 285 of the German Commercial Code (HGB)  
in conjunction with Section 286 Subsection 3 Sentenceꢀ1 No.ꢀ1  
and Subsection 3 Sentence 2 of the German Commercial Code (HGB)  
The statement of investments of Daimler AG pursuant to  
omitted pursuant to Section 286 Subsection 3 Sentenceꢀ1 No.ꢀ1  
Section 285 of the German Commercial Code (HGB) is presented of the HGB if such information is of minor relevance for a fair  
as follows. For information regarding equity and earnings,  
IFRS values are generally used for fully consolidated companies.  
Information on equity, earnings and other investments is  
presentation of the financial position, cash flows and profit-  
ability of Daimler AG.  
C.23  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
I. Consolidated subsidiaries  
Athlon Beheer International B.V.  
Athlon Beheer Nederland B.V.  
Athlon Car Lease Belgium N.V.  
Athlon Car Lease International B.V.  
Athlon Car Lease Italy S.R.L.  
Athlon Car Lease Nederland B.V.  
Athlon Car Lease Polska Sp. z o.o.  
Athlon Car Lease Portugal, lda  
Athlon Car Lease Rental Services B.V.  
Athlon Car Lease Rental Services Belgium N.V.  
Athlon Car Lease S.A.S.  
Almere, Netherlands  
Almere, Netherlands  
Machelen, Belgium  
Almere, Netherlands  
Rome, Italy  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
80.00  
315  
100  
444  
42  
13  
20  
Almere, Netherlands  
Warsaw, Poland  
113  
33  
Oeiras, Portugal  
Almere, Netherlands  
Machelen, Belgium  
Le Bourget, France  
Alcobendas, Spain  
Almere, Netherlands  
Le Bourget, France  
Düsseldorf, Germany  
Amsterdam, Netherlands  
Machelen, Belgium  
Düsseldorf, Germany  
Malmö, Sweden  
Athlon Car Lease Spain, S.A.  
Athlon Dealerlease B.V.  
Athlon France S.A.S.  
Athlon Germany GmbH  
Athlon Mobility Consultancy B.V.  
Athlon Mobility Consultancy N.V.  
Athlon Rental Germany GmbH  
Athlon Sweden AB  
Athlon Switzerland AG  
Schlieren, Switzerland  
Irvine, USA  
AutoGravity Corporation  
24  
380  
-ꢀ40  
34  
Banco Mercedes-Benz do Brasil S.A.  
Brooklands Estates Management Limited  
Campo Largo Comercio de Veículos e Peças Ltda.  
car2go Canada Ltd.  
São Paulo, Brazil  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
5
Milton Keynes, United Kingdom  
Campinas, Brazil  
Vancouver, Canada  
Beijing, China  
6
-ꢀ15  
-ꢀ13  
-ꢀ15  
car2go China Co., Ltd.  
5
car2go Deutschland GmbH  
car2go Europe GmbH  
Leinfelden-Echterdingen, Germany  
Leinfelden-Echterdingen, Germany  
Leinfelden-Echterdingen, Germany  
Madrid, Spain  
215  
car2go Group GmbH  
8
-ꢀ20  
car2go Iberia S.L.U.  
car2go Italia S.R.L.  
Milan, Italy  
5
-ꢀ10  
car2go N.A. Holding Inc.  
Wilmington, USA  
car2go N.A. LLC  
Wilmington, USA  
24  
-ꢀ32  
car2go Nederland B.V.  
Utrecht, Netherlands  
Vienna, Austria  
car2go Österreich GmbH  
CARS Technik & Logistik GmbH  
CLIDET NO 1048 (Proprietary) Limited  
Conemaugh Hydroelectric Projects, Inc.  
DA Investments Co. LLC  
Wiedemar, Germany  
Centurion, South Africa  
Wilmington, USA  
3
Wilmington, USA  
233  
.
4
0
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
DAF Investments, Ltd.  
Wilmington, USA  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
65.00  
Daimler Australia/Pacific Pty. Ltd.  
Daimler Brand & IP Management GmbH & Co. KG  
Daimler Brand & IP Management Verwaltung GmbH  
Daimler Buses North America Inc.  
Daimler Canada Finance Inc.  
Melbourne, Australia  
Stuttgart, Germany  
Stuttgart, Germany  
Oriskany, USA  
138  
169  
3
5
7
-ꢀ74  
Montreal, Canada  
Halifax, Canada  
239  
3
Daimler Canada Investments Company  
Daimler Capital Services LLC  
Wilmington, USA  
59  
18  
5
Daimler Ceská republika Holding s.r.o.  
Daimler Colombia S. A.  
Prague, Czech Republic  
Bogota D.C., Colombia  
Singapore, Singapore  
35  
19  
Daimler Commercial Vehicles South East Asia Pte. Ltd.  
Daimler Compra y Manufactura Mexico S. de R.L. de C.V. Mexico City, Mexico  
266  
-ꢀ45  
Daimler Export and Trade Finance GmbH  
Daimler Finance North America LLC  
Berlin, Germany  
3
Wilmington, USA  
Singapore, Singapore  
Stuttgart, Germany  
Chennai, India  
Daimler Financial Services Africa & Asia Pacific Ltd.  
Daimler Financial Services AG  
5
3
2,671  
Daimler Financial Services India Private Limited  
Daimler Financial Services Investment Company LLC  
Daimler Financial Services México, S. de R.L. de C.V.  
217  
10  
Wilmington, USA  
Mexico City, Mexico  
137  
28  
5
3
2
Daimler Financial Services, S.A. de C.V., S.O.F.O.M., E.N.R. Mexico City, Mexico  
Daimler Fleet Management GmbH  
Daimler Fleet Management Singapore Pte. Ltd.  
Daimler Fleet Management South Africa (Pty.) Ltd.  
Daimler Fleet Management UK Limited  
Daimler Fleet Services A.S.  
Stuttgart, Germany  
Singapore, Singapore  
Centurion, South Africa  
Milton Keynes, United Kingdom  
Istanbul, Turkey  
24  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Daimler FleetBoard GmbH  
Stuttgart, Germany  
Beijing, China  
2,776  
3
3
Daimler Greater China Ltd.  
1,208  
Daimler Grund Services GmbH  
Schönefeld, Germany  
Chennai, India  
Daimler India Commercial Vehicles Private Limited  
Daimler Insurance Agency LLC  
118  
-ꢀ18  
Wilmington, USA  
Daimler Insurance Services GmbH  
Daimler Insurance Services Japan Co., Ltd.  
Daimler Insurance Services UK Limited  
Daimler International Finance B.V.  
Daimler International Nederland B.V.  
Daimler Investments US Corporation  
Daimler Manufactura, S. de R.L. de C.V.  
Daimler Mexico, S.A. de C.V.  
Stuttgart, Germany  
Tokyo, Japan  
3
Milton Keynes, United Kingdom  
Utrecht, Netherlands  
Utrecht, Netherlands  
Wilmington, USA  
6
538  
14,949  
2,202  
Mexico City, Mexico  
Mexico City, Mexico  
Leinfelden-Echterdingen, Germany  
Wilmington, USA  
447  
113  
49  
Daimler Mobility Services GmbH  
Daimler Motors Investments LLC  
Daimler Nederland B.V.  
3
5
Utrecht, Netherlands  
Utrecht, Netherlands  
Wilmington, USA  
968  
460  
7,581  
248  
53  
1,129  
Daimler Nederland Holding B.V.  
Daimler North America Corporation  
Daimler North America Finance Corporation  
Newark, USA  
Daimler Northeast Asia Parts Trading and Services Co.,  
Ltd.  
Beijing, China  
100  
71  
Daimler Parts Brand GmbH  
Stuttgart, Germany  
Bremen, Germany  
100.00  
74.90  
3
3
Daimler Re Brokers GmbH  
Daimler Re Insurance S.A. Luxembourg  
Daimler Real Estate GmbH  
Luxembourg, Luxembourg  
Berlin, Germany  
100.00  
100.00  
100.00  
100.00  
74  
11  
3
Daimler Retail Receivables LLC  
Farmington Hills, USA  
DAIMLER SERVICIOS CORPORATIVOS MEXICO S. DE R.L. Mexico City, Mexico  
DE C.V.  
Daimler South East Asia Pte. Ltd.  
Daimler Truck AG  
Singapore, Singapore  
Stuttgart, Germany  
Mulgrave, Australia  
Wilmington, USA  
100.00  
100.00  
100.00  
100.00  
99  
56  
3
Daimler Truck and Bus Australia Pacific Pty. Ltd.  
Daimler Trucks & Buses US Holding Inc.  
2,229  
8
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 41  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Daimler Trucks and Buses (China) Ltd.  
Daimler Trucks Canada Ltd.  
Beijing, China  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
67.55  
32  
Mississauga, Canada  
Seoul, South Korea  
Wilmington, USA  
Portland, USA  
43  
Daimler Trucks Korea Ltd.  
Daimler Trucks North America LLC  
Daimler Trucks Remarketing Corporation  
Daimler Trust Holdings LLC  
3,262  
77  
1,176  
22  
Farmington Hills, USA  
Wilmington, USA  
Farmington Hills, USA  
Milton Keynes, United Kingdom  
Hong Kong, China  
Wilmington, USA  
Mexico City, Mexico  
Schönefeld, Germany  
Berlin, Germany  
Daimler Trust Leasing Conduit LLC  
Daimler Trust Leasing LLC  
Daimler UK Limited  
589  
181  
Daimler Vans Hong Kong Limited  
Daimler Vans USA, LLC  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Daimler Vehículos Comerciales Mexico S. de R.L. de C.V.  
Daimler Verwaltungsgesellschaf für Grundbesitz mbH  
Daimler Vorsorge und Versicherungsdienst GmbH  
Daiprodco Mexico S. de R.L. de C.V.  
Detroit Diesel Corporation  
197  
3,861  
21  
3
3
Mexico City, Mexico  
Detroit, USA  
128  
15  
385  
25  
5
Detroit Diesel Remanufacturing LLC  
Detroit, USA  
Detroit Diesel Remanufacturing Mexicana,  
S. de R.L. de C.V.  
Toluca, Mexico  
Detroit Diesel-Allison de Mexico, S. de R.L. de C.V.  
Deutsche Accumotive GmbH & Co. KG  
EHG Elektroholding GmbH  
EvoBus (Schweiz) AG  
San Juan Ixtacala, Mexico  
Kirchheim unter Teck, Germany  
Stuttgart, Germany  
Kloten, Switzerland  
Coventry, United Kingdom  
Wiener Neudorf, Austria  
Kobbegem-Asse, Belgium  
Prague, Czech Republic  
Koege, Denmark  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
51.11  
17  
17  
33  
110  
1,148  
3
EvoBus (U.K.) Ltd.  
EvoBus Austria GmbH  
EvoBus Belgium N.V.  
EvoBus Ceská republika s.r.o.  
EvoBus Danmark A/S  
EvoBus France S.A.S.U.  
EvoBus GmbH  
Sarcelles, France  
26  
10  
Stuttgart, Germany  
Sámano, Spain  
103  
3
EvoBus Ibérica, S.A.U.  
EvoBus Italia S.p.A.  
Bomporto, Italy  
EvoBus Nederland B.V.  
Nijkerk, Netherlands  
Wolica, Poland  
EvoBus Polska Sp. z o.o.  
EvoBus Portugal, S.A.  
Mem Martins, Portugal  
Vetlanda, Sweden  
EvoBus Sverige AB  
Freightliner Custom Chassis Corporation  
Friesland Lease B.V.  
Gaffney, USA  
38  
72  
Drachten, Netherlands  
Schönefeld, Germany  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Alpha 1 OHG  
100.00  
2,916  
349  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Alpha 2 OHG  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Alpha 3 OHG  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Alpha 4 OHG  
534  
576  
189  
55  
29  
13  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Alpha 5 OHG  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Alpha 6 OHG  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Alpha 7 OHG  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Beta OHG  
77  
25  
24  
17  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Delta OHG  
205  
220  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Epsilon OHG  
42  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Gamma 1 OHG  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
Schönefeld, Germany  
100.00  
100.00  
100.00  
100.00  
100.00  
381  
201  
69  
24  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Gamma 2 OHG  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Gamma 3 OHG  
Grundstücksverwaltungsgesellschaf Daimler AG & Co.  
Gamma 4 OHG  
Grundstücksverwaltungsgesellschaf EvoBus GmbH & Co. Schönefeld, Germany  
OHG  
109  
19  
Hailo Network Iberia S.L.  
Madrid, Spain  
100.00  
100.00  
79.35  
Hailo Network IP Limited  
London, United Kingdom  
Hamburg, Germany  
Windhof, Luxembourg  
São Bernardo do Campo, Brazil  
Zwartkop, South Africa  
Stuttgart, Germany  
Stuttgart, Germany  
Stuttgart, Germany  
Stuttgart, Germany  
Stuttgart, Germany  
Kamenz, Germany  
Intelligent Apps GmbH  
261  
-ꢀ35  
Interleasing Luxembourg S.A.  
Invema Assessoria Empresarial Eireli  
Koppieview Property (Pty) Ltd  
LEONIE CORP DVB GmbH  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
75.00  
5
1,186  
3
3
3
3
3
3
LEONIE FS DVB GmbH  
LEONIE FSM DVB GmbH  
LEONIE PV DVB GmbH  
LEONIE TB DVB GmbH  
Li-Tec Battery GmbH  
Mascot Truck Parts Canada Ltd (2017)  
Mascot Truck Parts USA LLC  
Mississauga, Canada  
Wilmington, USA  
MBarc Credit Canada Inc.  
Mississauga, Canada  
Kölleda, Germany  
MDC Power GmbH  
3
3
MDC Technology GmbH  
Arnstadt, Germany  
Brixworth, United Kingdom  
Zug, Switzerland  
26  
Mercedes AMG High Performance Powertrains Ltd  
Mercedes pay AG  
Mercedes pay S.A.  
Luxembourg, Luxembourg  
Affalterbach, Germany  
Mem Martins, Portugal  
Beijing, China  
18  
-ꢀ20  
Mercedes-AMG GmbH  
713  
3
Mercedes-Benz - Aluguer de Veículos, Unipessoal Lda.  
Mercedes-Benz (China) Ltd.  
1,138  
739  
120  
5
5
Mercedes-Benz (Thailand) Limited  
Mercedes-Benz (Yangzhou) Parts Distribution Co., Ltd.  
Mercedes-Benz Accessories GmbH  
Mercedes-Benz AG  
Bangkok, Thailand  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
249  
Yangzhou, China  
Stuttgart, Germany  
Stuttgart, Germany  
Antwerp, Belgium  
6
3
3
Mercedes-Benz Antwerpen N.V.  
Mercedes-Benz Argentina S.A.  
Mercedes-Benz Asia GmbH  
Buenos Aires, Argentina  
Stuttgart, Germany  
Utrecht, Netherlands  
Melbourne, Australia  
Beijing, China  
85  
-ꢀ35  
3
Mercedes-Benz Assuradeuren B.V.  
Mercedes-Benz Australia/Pacific Pty Ltd  
Mercedes-Benz Auto Finance Ltd.  
Mercedes-Benz Bank AG  
456  
24  
226  
1,829  
5
3
Stuttgart, Germany  
Salzburg, Austria  
2,565  
Mercedes-Benz Bank GmbH  
Mercedes-Benz Bank Polska S.A.  
Mercedes-Benz Bank Rus OOO  
Mercedes-Benz Bank Service Center GmbH  
Mercedes-Benz Banking Service GmbH  
Mercedes-Benz Belgium Luxembourg S.A.  
Mercedes-Benz Bordeaux S.A.S.  
Mercedes-Benz Broker Biztositási Alkusz Hungary Kf .  
Mercedes-Benz Brooklands Limited  
Mercedes-Benz Canada Inc.  
Warsaw, Poland  
Moscow, Russian Federation  
Berlin, Germany  
63  
12  
3
3
5
Saarbrücken, Germany  
Brussels, Belgium  
118  
17  
Begles, France  
Budapest, Hungary  
Milton Keynes, United Kingdom  
Toronto, Canada  
50  
31  
139  
10  
Mercedes-Benz Capital Rus OOO  
Mercedes-Benz Cars Ceská republika s.r.o.  
Mercedes-Benz Cars Nederland B.V.  
Moscow, Russian Federation  
Prague, Czech Republic  
Utrecht, Netherlands  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 43  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Mercedes-Benz Cars UK Limited  
Milton Keynes, United Kingdom  
Montigny-le-Bretonneux, France  
Trent, Italy  
100.00  
100.00  
100.00  
100.00  
100.00  
99.98  
154  
62  
5
3
5
Mercedes-Benz CharterWay S.A.S.  
Mercedes-Benz CharterWay S.r.l.  
Mercedes-Benz Compañía Financiera Argentina S.A.  
Mercedes-Benz Connectivity Services GmbH  
Mercedes-Benz Corretora de Seguros Ltda  
Mercedes-Benz CPH A/S  
Buenos Aires, Argentina  
Stuttgart, Germany  
São Paulo, Brazil  
Horsholm, Denmark  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
95.01  
Mercedes-Benz Credit Pénzügyi Szolgáltató Hungary Zrt. Budapest, Hungary  
Mercedes-Benz Danmark A/S  
Copenhagen, Denmark  
The Hague, Netherlands  
São Paulo, Brazil  
197  
30  
Mercedes-Benz Dealer Bedrijven B.V.  
Mercedes-Benz do Brasil Assessoria Comercial Ltda.  
Mercedes-Benz do Brasil Ltda.  
São Bernardo do Campo, Brazil  
Drogenbos, Belgium  
Alcobendas, Spain  
305  
-ꢀ333  
Mercedes-Benz Drogenbos N.V.  
Mercedes-Benz Espana, S.A.U.  
344  
458  
200  
125  
65  
33  
Mercedes-Benz Finance Co., Ltd.  
Tokyo, Japan  
5
5
Mercedes-Benz Financial Services Australia Pty. Ltd.  
Mercedes-Benz Financial Services Austria GmbH  
Mercedes-Benz Financial Services BeLux NV  
Mercedes-Benz Financial Services Canada Corporation  
Mercedes-Benz Financial Services Ceská republika s.r.o.  
Mercedes-Benz Financial Services España, E.F.C., S.A.  
Mercedes-Benz Financial Services France S.A.  
Mercedes-Benz Financial Services Hong Kong Ltd.  
Mercedes-Benz Financial Services Italia SpA  
Mercedes-Benz Financial Services Korea Ltd.  
Mercedes-Benz Financial Services Nederland B.V.  
Mercedes-Benz Financial Services New Zealand Ltd  
Melbourne, Australia  
Salzburg, Austria  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
80.00  
Brussels, Belgium  
79  
268  
158  
144  
455  
13  
92  
18  
30  
48  
Mississauga, Canada  
Prague, Czech Republic  
Alcobendas, Spain  
5
5
Montigny-le-Bretonneux, France  
Hong Kong, China  
Rome, Italy  
100.00  
80.00  
348  
413  
170  
54  
51  
26  
Seoul, South Korea  
Utrecht, Netherlands  
Auckland, New Zealand  
Mem Martins, Portugal  
100.00  
100.00  
100.00  
5
5
Mercedes-Benz Financial Services Portugal - Sociedade  
Financeira de Crédito S.A.  
Mercedes-Benz Financial Services Rus OOO  
Mercedes-Benz Financial Services Schweiz AG  
Mercedes-Benz Financial Services Slovakia s.r.o.  
Mercedes-Benz Financial Services South Africa (Pty) Ltd  
Mercedes-Benz Financial Services Taiwan Ltd.  
Mercedes-Benz Financial Services UK Limited  
Mercedes-Benz Financial Services USA LLC  
Mercedes-Benz Finans Danmark A/S  
Mercedes-Benz Finans Sverige AB  
Moscow, Russian Federation  
Schlieren, Switzerland  
Bratislava, Slovakia  
Centurion, South Africa  
Taipei, Taiwan  
100.00  
100.00  
75.00  
67  
133  
13  
26  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
60.00  
102  
11  
5
5
5
5
Milton Keynes, United Kingdom  
Wilmington, USA  
637  
2,541  
90  
448  
Copenhagen, Denmark  
Malmö, Sweden  
72  
10  
Mercedes-Benz Finansal Kiralama Türk A.S.  
Mercedes-Benz Finansman Türk A.S.  
Mercedes-Benz Försäljnings AB  
Istanbul, Turkey  
Istanbul, Turkey  
5
5
Malmö, Sweden  
Mercedes-Benz France S.A.S.  
Montigny-le-Bretonneux, France  
Kirchheim unter Teck, Germany  
Brackley, United Kingdom  
Kifissia, Greece  
370  
33  
Mercedes-Benz Fuel Cell GmbH  
Mercedes-Benz Grand Prix Ltd.  
Mercedes-Benz Hellas S.A.  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
51.00  
Mercedes-Benz Hong Kong Limited  
Hong Kong, China  
Pune, India  
32  
130  
12  
38  
Mercedes-Benz India Private Limited  
Mercedes-Benz Insurance Broker S.R.L.  
Mercedes-Benz Insurance Services Nederland B.V.  
Mercedes-Benz Insurance Services Taiwan Ltd.  
Mercedes-Benz Investment Company LLC  
Mercedes-Benz Italia S.p.A.  
Voluntari, Romania  
Utrecht, Netherlands  
Taipei, Taiwan  
Wilmington, USA  
Rome, Italy  
363  
327  
290  
110  
508  
58  
91  
92  
16  
58  
5
Mercedes-Benz Japan Co., Ltd.  
Tokyo, Japan  
Mercedes-Benz Korea Limited  
Seoul, South Korea  
Bangkok, Thailand  
Beijing, China  
Mercedes-Benz Leasing (Thailand) Co., Ltd.  
Mercedes-Benz Leasing Co., Ltd.  
100.00  
65.00  
4
4
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Mercedes-Benz Leasing do Brasil Arrendamento Mercantil Barueri, Brazil  
S.A.  
100.00  
Mercedes-Benz Leasing GmbH  
Stuttgart, Germany  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
51.00  
49  
3, 5  
Mercedes-Benz Leasing Hrvatska d.o.o.  
Mercedes-Benz Leasing IFN S.A.  
Zagreb, Croatia  
Bucharest, Romania  
Budapest, Hungary  
Warsaw, Poland  
5
5
5
Mercedes-Benz Leasing Kf .  
Mercedes-Benz Leasing Polska Sp. z o.o.  
Mercedes-Benz Leasing Taiwan Ltd.  
Mercedes-Benz Leasing Treuhand GmbH  
Mercedes-Benz Ludwigsfelde GmbH  
Mercedes-Benz Malaysia Sdn. Bhd.  
Mercedes-Benz Manhattan, Inc.  
85  
10  
Taipei, Taiwan  
Stuttgart, Germany  
Ludwigsfelde, Germany  
Puchong, Malaysia  
Wilmington, USA  
3
3
41  
106  
67  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Mercedes-Benz Manufacturing (Thailand) Limited  
Mercedes-Benz Manufacturing Hungary Kf .  
Mercedes-Benz Manufacturing Poland Sp. z o.o.  
Mercedes-Benz Mechelen N.V.  
Bangkok, Thailand  
Kecskemét, Hungary  
Liegnitz, Poland  
452  
66  
Mechelen, Belgium  
Mexico City, Mexico  
Dortmund, Germany  
Stuttgart, Germany  
Auckland, New Zealand  
Salzburg, Austria  
Mercedes-Benz Mexico, S. de R.L. de C.V.  
Mercedes-Benz Minibus GmbH  
34  
22  
3
3
Mercedes-Benz Mitarbeiter-Fahrzeuge Leasing GmbH  
Mercedes-Benz New Zealand Ltd  
5
Mercedes-Benz Österreich GmbH  
Mercedes-Benz Paris SAS  
Port-Marly, France  
Prague, Czech Republic  
Azuqueca de Henares, Spain  
Milton Keynes, United Kingdom  
Shanghai, China  
Mercedes-Benz Parts Logistics Eastern Europe s.r.o.  
Mercedes-Benz Parts Logistics Ibérica, S.L.U.  
Mercedes-Benz Parts Logistics UK Limited  
Mercedes-Benz Parts Manufacturing & Services Ltd.  
Mercedes-Benz Polska Sp. z o.o.  
13  
3
12  
-ꢀ11  
26  
12  
Warsaw, Poland  
84  
25  
5
5
Mercedes-Benz Portugal, S.A.  
Mem Martins, Portugal  
Prague, Czech Republic  
Alcobendas, Spain  
Mercedes-Benz PRAHA s.r.o.  
Mercedes-Benz Renting, S.A.  
Mercedes-Benz Research & Development North America, Wilmington, USA  
Inc.  
21  
11  
Mercedes-Benz Retail Group UK Limited  
Mercedes-Benz Retail, S.A.  
Milton Keynes, United Kingdom  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
51.00  
83  
-ꢀ12  
Madrid, Spain  
Mercedes-Benz Retail, Unipessoal Lda.  
Mercedes-Benz Risk Solutions South Africa (Pty.) Ltd.  
Mercedes-Benz Roma S.p.A.  
Mem Martins, Portugal  
Centurion, South Africa  
Rome, Italy  
Mercedes-Benz Romania S.R.L.  
Bucharest, Romania  
Moscow, Russian Federation  
Schlieren, Switzerland  
Bucharest, Romania  
Alcobendas, Spain  
Petaling Jaya, Malaysia  
Istanbul, Turkey  
Mercedes-Benz Russia AO  
273  
101  
36  
44  
Mercedes-Benz Schweiz AG  
Mercedes-Benz Service Leasing S.R.L.  
Mercedes-Benz Services Correduria de Seguros, S.A.  
Mercedes-Benz Services Malaysia Sdn Bhd  
Mercedes-Benz Sigorta Aracilik Hizmetleri A.S.  
Mercedes-Benz Sosnowiec Sp. z o.o.  
Mercedes-Benz South Africa Ltd  
Sosnowiec, Poland  
Pretoria, South Africa  
Malmö, Sweden  
722  
68  
125  
46  
16  
48  
Mercedes-Benz Sverige AB  
5
Mercedes-Benz Taiwan Ltd.  
Taipei, Taiwan  
Mercedes-Benz Trucks Ceská republika s.r.o.  
Mercedes-Benz Trucks España S.L.U.  
Mercedes-Benz Trucks Molsheim  
Mercedes-Benz Trucks Nederland B.V.  
Mercedes-Benz Trucks UK Limited  
Mercedes-Benz Türk A.S.  
Prague, Czech Republic  
Alcobendas, Spain  
Molsheim, France  
Utrecht, Netherlands  
Milton Keynes, United Kingdom  
Istanbul, Turkey  
100.00  
100.00  
100.00  
100.00  
100.00  
66.91  
31  
813  
275  
12  
5
5
5
Mercedes-Benz U.S. International, Inc.  
Mercedes-Benz Ubezpieczenia Sp. z o.o.  
Mercedes-Benz USA, LLC  
Vance, USA  
100.00  
100.00  
100.00  
96  
Warsaw, Poland  
Wilmington, USA  
-ꢀ186  
164  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 45  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Mercedes-Benz V.I. Lyon SAS  
Genas, France  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
70.00  
Mercedes-Benz V.I. Paris Ile de France SAS  
Mercedes-Benz Vans Australia Pacific Pty. Ltd.  
Mercedes-Benz Vans Ceská republika s.r.o  
Mercedes-Benz Vans España, S.L.U.  
Mercedes-Benz Vans Mobility GmbH  
Mercedes-Benz Vans Nederland B.V.  
Mercedes-Benz Vans UK Limited  
Mercedes-Benz Vans, LLC  
Wissous, France  
Mulgrave, Australia  
Prague, Czech Republic  
Madrid, Spain  
Berlin, Germany  
3
Utrecht, Netherlands  
Milton Keynes, United Kingdom  
Wilmington, USA  
22  
10  
23  
21  
56  
52  
Mercedes-Benz Versicherung AG  
Mercedes-Benz Vertrieb NFZ GmbH  
Mercedes-Benz Vertrieb PKW GmbH  
Mercedes-Benz Vietnam Ltd.  
Stuttgart, Germany  
Stuttgart, Germany  
Stuttgart, Germany  
Ho Chi Minh City, Vietnam  
Warsaw, Poland  
3
3
3
108  
30  
Mercedes-Benz Warszawa Sp. z o.o.  
Mercedes-Benz Waterloo S.A.  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
89.29  
Braine-L'Alleud, Belgium  
Wavre, Belgium  
Mercedes-Benz Wavre S.A.  
Mercedes-Benz Wemmel N.V.  
Wemmel, Belgium  
Wilmington, USA  
Mercedes-Benz Wholesale Receivables LLC  
MFTA Canada, Inc.  
Toronto, Canada  
2,322  
Mitsubishi Fuso Truck and Bus Corporation  
Kawasaki, Japan  
300  
MITSUBISHI FUSO TRUCK EUROPE - Sociedade Europeia Tramagal, Portugal  
de Automóveis, S.A.  
100.00  
Mitsubishi Fuso Truck of America, Inc.  
moovel Group GmbH  
Logan Township, USA  
Stuttgart, Germany  
Wilmington, USA  
Wilmington, USA  
Le Bourget, France  
Barcelona, Spain  
Dublin, Ireland  
100.00  
100.00  
100.00  
100.00  
50.10  
23  
-ꢀ22  
5
moovel North America Inc.  
moovel North America, LLC  
Multifleet G.I.E  
17  
-21  
myTaxi Iberia SL  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
62.62  
mytaxi Network Ireland Ltd.  
mytaxi Network Ltd.  
London, United Kingdom  
Bogor, Indonesia  
Jakarta, Indonesia  
Jakarta, Indonesia  
Lima, Peru  
10  
-ꢀ10  
P.T. Mercedes-Benz Indonesia  
PT Daimler Commercial Vehicles Indonesia  
PT Mercedes-Benz Distribution Indonesia  
Renting del Pacífico S.A.C.  
Sandown Motor Holdings (Pty) Ltd  
SelecTrucks of America LLC  
SelecTrucks of Toronto, Inc.  
Setra of North America, Inc.  
Silver Arrow Canada GP Inc.  
Silver Arrow Canada LP  
5
27  
13  
Bryanston, South Africa  
Portland, USA  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
66.84  
Mississauga, Canada  
Oriskany, USA  
Mississauga, Canada  
Mississauga, Canada  
Hambach, France  
Berlin, Germany  
smart France S.A.S.  
smart Vertriebs gmbh  
3
Special Lease Systems (SLS) B.V  
Star Assembly SRL  
Almere, Netherlands  
Sebes, Romania  
225  
211  
66  
8
Starexport Trading S.A.  
São Bernardo do Campo, Brazil  
Portland, USA  
Sterling Truck Corporation  
Sumperská správa majetku k.s.  
Thomas Built Buses of Canada Limited  
Thomas Built Buses, Inc.  
Transcovo SAS  
Prague, Czech Republic  
Calgary, Canada  
High Point, USA  
100  
176  
24  
-ꢀ14  
Paris, France  
5
3
Transopco France SAS  
Paris, France  
100.00  
100.00  
65.00  
Trona Cogeneration Corporation  
Ucafleet S.A.S  
Wilmington, USA  
Le Bourget, France  
Vierzehnte Vermögensverwaltungsgesellschaf DVB mbH Stuttgart, Germany  
100.00  
100.00  
51.00  
Western Star Trucks Sales, Inc  
Zuidlease B.V.  
Portland, USA  
Sittard, Netherlands  
4
6
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
II. Unconsolidated subsidiaries  
Achtzehnte Vermögensverwaltungsgesellschaf DVB mbH Stuttgart, Germany  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
72.85  
AEG Olympia Office GmbH  
Anota Fahrzeug Service- und Vertriebsgesellschaf mbH  
Beat Chile SpA  
Stuttgart, Germany  
Berlin, Germany  
3
3
Santiago, Chile  
Beat Ride App Colombia Ltda.  
Beat Ride App S.A.  
Bogota D. C., Colombia  
Mexico City, Mexico  
Brussels, Belgium  
Copenhagen, Denmark  
Stockholm, Sweden  
car2go Belgium SPRL  
car2go Danmark A/S  
car2go Sverige AB  
Circulo Cerrado S.A. de Ahorro para Fines Determinados Buenos Aires, Argentina  
Clever Tech S.R.L.  
Bucharest, Romania  
Bucharest, Romania  
Stuttgart, Germany  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Clever Tech Sud S.R.L.  
Cúspide GmbH  
Daimler AG & Co. Anlagenverwaltung OHG  
Daimler Automotive de Venezuela C.A.  
Daimler Commercial Vehicles (Thailand) Ltd.  
Daimler Commercial Vehicles Africa Ltd.  
Daimler Commercial Vehicles MENA FZE  
DAIMLER FINANCIAL SERVICES AUSTRALIA PTY LTD  
Daimler Financial Services UK Trustees Ltd.  
Daimler Gastronomie GmbH  
Schönefeld, Germany  
Valencia, Venezuela  
Bangkok, Thailand  
4
Nairobi, Kenya  
Dubai, United Arab Emirates  
Melbourne, Australia  
Milton Keynes, United Kingdom  
Esslingen am Neckar, Germany  
Berlin, Germany  
3
3
Daimler Group Services Berlin GmbH  
Daimler Group Services Madrid, S.A.U.  
Daimler Innovation Technology (China) Co., Ltd.  
Daimler International Assignment Services USA, LLC  
Daimler Ladungsträger GmbH  
San Sebastián de los Reyes, Spain  
Beijing, China  
Wilmington, USA  
Sindelfingen, Germany  
Stuttgart, Germany  
3
3
Daimler Mitarbeiter Wohnfinanz GmbH  
Daimler Parts Logistics Australia Pty. Ltd.  
Daimler Pensionsfonds AG  
Mulgrave, Australia  
Stuttgart, Germany  
10  
3
Daimler Protics GmbH  
Leinfelden-Echterdingen, Germany  
Wilmington, USA  
Daimler Purchasing Coordination Corp.  
DAIMLER TRUCK AND BUS HOLDING AUSTRALIA PACIFIC Melbourne, Australia  
PTY LTD  
Daimler Trucks and Buses Southern Africa (Pty) Ltd  
Daimler Trucks Asia Taiwan Ltd.  
Daimler TSS GmbH  
Zwartkop, South Africa  
Taipei, Taiwan  
100.00  
51.00  
38  
2
21  
9
Ulm, Germany  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
96.00  
3, 8  
Daimler UK Share Trustee Ltd.  
Milton Keynes, United Kingdom  
Milton Keynes, United Kingdom  
Stuttgart, Germany  
Daimler UK Trustees Limited  
Daimler Unterstützungskasse GmbH  
Deutsche Accumotive Verwaltungs-GmbH  
Kirchheim unter Teck, Germany  
Dreizehnte Vermögensverwaltungsgesellschaf DVB mbH Stuttgart, Germany  
3
DTB Tech & Data Hub, Unipessoal Lda  
EvoBus Reunion S. A.  
Tramagal, Portugal  
Le Port, France  
EvoBus Russland OOO  
Moscow, Russian Federation  
Hamburg, Germany  
Darmstadt, Germany  
Stuttgart, Germany  
Stuttgart, Germany  
Wilmington, USA  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Familonet GmbH  
FLINC GmbH  
3
3
Fünf e Vermögensverwaltungsgesellschaf Zeus mbH  
LAB1886 GmbH  
Lab1886 USA LLC  
Lapland Car Test Aktiebolag  
Legend Investments Ltd.  
Arvidsjaur, Sweden  
Milton Keynes, United Kingdom  
Stuttgart, Germany  
LEONIE DMS DVB GmbH  
3
3
MB GTC GmbH Mercedes-Benz Gebrauchtteile Center  
Neuhausen auf den Fildern,  
Germany  
MBition GmbH  
Berlin, Germany  
100.00  
100.00  
3
Mercedes-Benz Adm. Consorcios Ltda.  
São Bernardo do Campo, Brazil  
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 47  
Name of the Company  
Domicile, Country  
Berlin, Germany  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Mercedes-Benz CarMesh GmbH  
100.00  
100.00  
Mercedes-Benz Cars & Vans Brasil - Indústria e Comércio São Bernardo do Campo, Brazil  
De Veículos Ltda.  
Mercedes-Benz Cars Middle East FZE  
Mercedes-Benz Consulting GmbH  
Dubai, United Arab Emirates  
Leinfelden-Echterdingen, Germany  
Maastricht, Netherlands  
100.00  
100.00  
100.00  
3
Mercedes-Benz Customer Assistance Center Maastricht  
N.V.  
Mercedes-Benz Egypt S.A.E.  
New Cairo, Egypt  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
80.00  
Mercedes-Benz Energy Americas LLC  
Mercedes-Benz Energy GmbH  
Wilmington, USA  
Kamenz, Germany  
5
3, 8  
Mercedes-Benz Europa NV/SA  
Woluwe-Saint-Lambert, Belgium  
Wilmington, USA  
Mercedes-Benz ExTra LLC  
Mercedes-Benz Formula E Limited  
Mercedes-Benz G GmbH  
Brackley, United Kingdom  
Raaba, Austria  
Mercedes-Benz Group Services Phils., Inc.  
Mercedes-Benz Hungária Kf .  
Cebu City, Philippines  
Budapest, Hungary  
Valbonne, France  
Mercedes-Benz IDC Europe S.A.S.  
Mercedes-Benz Manufacturing Rus Ltd  
Mercedes-Benz Museum GmbH  
Mercedes-Benz Project Consult GmbH  
Mercedes-Benz Research & Development Tel Aviv Ltd.  
Moscow, Russian Federation  
Stuttgart, Germany  
Stuttgart, Germany  
Tel Aviv, Israel  
100.00  
100.00  
100.00  
100.00  
3
3
Mercedes-Benz Research and Development India Private Bangalore, India  
Limited  
111  
32  
8
Mercedes-Benz Retail Belgium NV/SA  
Mercedes-Benz Slovakia s.r.o.  
Woluwe-Saint-Lambert, Belgium  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Bratislava, Slovakia  
Milton Keynes, United Kingdom  
Novi Beograd, Serbia  
Wilmington, USA  
Mercedes-Benz Solihull Ltd.  
Mercedes-Benz Srbija i Crna Gora d.o.o.u likvidaciji  
Mercedes-Benz Subscription Services USA LLC  
Mercedes-Benz Trucks Belgium Luxembourg NV/SA  
2
Brussels, Belgium  
Mercedes-Benz Trucks Center Sint-Pieters-Leeuw NV/SA Sint-Peters-Leeuw, Belgium  
Mercedes-Benz Trucks France S.A.S.U  
Mercedes-Benz Trucks Italia S.r.l.  
Montigny-le-Bretonneux, France  
Rome, Italy  
Mercedes-Benz Trucks MENA Holding GmbH  
Stuttgart, Germany  
Warsaw, Poland  
MERCEDES-BENZ TRUCKS POLSKA SPÓŁKA Z  
OGRANICZONA ODPOWIEDZIALNOSCIA  
Mercedes-Benz Trucks Schweiz AG  
Mercedes-Benz Vans Mobility S.L.  
Mercedes-Benz Vehículos Comerciales Argentina SAU  
Mercedes-Benz Venezuela S.A.  
Schlieren, Switzerland  
Alcobendas, Spain  
Buenos Aires, Argentina  
Valencia, Venezuela  
Stuttgart, Germany  
Lisbon, Portugal  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
51.00  
Mercedes-Benz.io GmbH  
3
9
Mercedes-Benz.io Portugal Unipessoal Lda.  
MercedesService Card Beteiligungsgesellschaf mbH  
Mitsubishi Fuso Bus Manufacturing Co., Ltd.  
Monarch Cars (Tamworth) Ltd.  
Kleinostheim, Germany  
Toyama, Japan  
100.00  
100.00  
51.00  
51  
-ꢀ44  
Milton Keynes, United Kingdom  
Esparraguera, Spain  
Vienna, Austria  
Montajes y Estampaciones Metálicas, S.L.  
mytaxi Austria GmbH  
100.00  
100.00  
100.00  
MYTAXI ITALIA S.R.L.  
Milan, Italy  
MYTAXI POLSKA SPÓLKA Z OGRANICZONA  
ODPOWIEDZIALNOSCIA  
Warsaw, Poland  
mytaxi Portugal Unipessoal LDA  
mytaxi Sweden AB  
myTaxi UG  
Lisbon, Portugal  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Stockholm, Sweden  
Hamburg, Germany  
London, United Kingdom  
New York, USA  
myTaxi UK Ltd.  
myTaxi USA Inc.  
NAG Nationale Automobil-Gesellschaf Aktiengesellschaf Stuttgart, Germany  
ogotrac S.A.S.  
Paris, France  
Ebina, Japan  
PABCO Co., Ltd.  
25  
18  
9
4
8
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Porcher & Meffert Grundstücksgesellschaf mbH & Co.  
Stuttgart OHG  
Schönefeld, Germany  
100.00  
R.T.C. Management Company Limited  
RepairSmith, Inc.  
Banbury, United Kingdom  
Manhattan Beach, USA  
Cunac, France  
88.89  
100.00  
100.00  
100.00  
100.00  
100.00  
99.50  
.
-ꢀ14  
6
Reva SAS  
Ring Garage AG Chur  
Chur, Switzerland  
Stuttgart, Germany  
Mauá, Brazil  
Sechste Vermögensverwaltungsgesellschaf Zeus mbH  
SelecTrucks Comércio de Veículos Ltda  
Star Egypt For Import LLC  
Star Transmission srl  
New Cairo, Egypt  
Cugir, Romania  
100.00  
100.00  
51.00  
STARKOM d.o.o.  
Maribor, Slovenia  
Schlieren, Switzerland  
London, United Kingdom  
Lima, Peru  
T.O.C (Schweiz) AG  
Taxibeat Ltd. UK  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
100.00  
Taxibeat Peru S.A.  
Taxibeat Teknoloji Hizmetleri A.S.  
Transopco GmbH  
Istanbul, Turkey  
Zug, Switzerland  
Transopco Portugal Unipessoal Lda.  
Transopco UK Ltd.  
Lisbon, Portugal  
London, United Kingdom  
Chemnitz, Germany  
Stuttgart, Germany  
trapoFit GmbH  
Zweite Vermögensverwaltungsgesellschaf Zeus mbH  
3
III. Joint operations accounted for using proportionate consolidation  
Cooperation Manufacturing Plant Aguascalientes, S.A.P.I Aguascalientes, Mexico  
de C.V.  
54,01  
639  
12  
6
IV. Joint operations accounted for using the equity method  
AFCC Automotive Fuel Cell Cooperation Corp.  
EM-motive GmbH  
Burnaby, Canada  
Hildesheim, Germany  
Kentwood, USA  
50.10  
50.00  
50.00  
North America Fuel Systems Remanufacturing LLC  
37  
14  
6
9
6
V. Joint ventures accounted for using the equity method  
Beijing Foton Daimler Automotive Co., Ltd  
Daimler Kamaz Trucks Holding GmbH  
Enbase Power GmbH  
Beijing, China  
50.00  
50.00  
25.10  
50.00  
25.00  
33.40  
26.00  
50.00  
50.00  
50.00  
50.00  
50.00  
60.00  
45.00  
50.00  
50.00  
699  
54  
Vienna, Austria  
Munich, Germany  
Fuzhou, China  
Fujian Benz Automotive Co., Ltd.  
IONITY Holding GmbH & Co. KG  
MB Service Japan Co., Ltd.  
450  
149  
Munich, Germany  
Hitachi, Japan  
Polomex, S.A. de C.V.  
Garcia, Mexico  
SelecTrucks of Atlanta LLC  
McDonough, USA  
Houston, USA  
SelecTrucks of Houston LLC  
SelecTrucks of Houston Wholesale LLC  
SelecTrucks of Omaha LLC  
Houston, USA  
Council Bluffs, USA  
Shenzhen, China  
Stuttgart, Germany  
Berlin, Germany  
Amsterdam, Netherlands  
Almere, Netherlands  
Shenzhen DENZA New Energy Automotive Co. Ltd.  
TASIAP GmbH  
71  
-ꢀ63  
9
9
Toll Collect GbR  
1
-ꢀ1,100  
ViaVan Technologies B.V.  
Wagenplan B.V.  
VI. Associated companies accounted for using the equity method  
BAIC Motor Corporation Ltd.  
Beijing Benz Automotive Co., Ltd.  
BlackLane GmbH  
Beijing, China  
9.55  
49.00  
29.64  
5.62  
4,886  
5,022  
1
944  
2,570  
-ꢀ10  
-ꢀ19  
9
6
9
7
Beijing, China  
Berlin, Germany  
Munich, Germany  
Kawasaki, Japan  
FlixMobility GmbH  
232  
FUSO LAND TRANSPORT & Co. Ltd.  
KAMAZ PAO  
21.67  
15.00  
Naberezhnye Chelny,  
Russian Federation  
558  
52  
7
C | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | OTHER NOTES 49  
Name of the Company  
Domicile, Country  
Capital  
Equity in Net income Footnote  
share in millions of €  
(loss) in  
1
%
millions of €  
Kanagawa Mitsubishi Fuso Truck & Bus Sales Co., Ltd.  
LSH Auto International Limited  
Okayama Mitsubishi Fuso Truck & Bus Sales Co., Ltd.  
P.T. Krama Yudha Tiga Berlian Motors  
P.T. Mitsubishi Krama Yudha Motors and Manufacturing  
Taxify OÜ  
Yokohama, Japan  
Hong Kong, China  
Okayamashi, Japan  
Jakarta, Indonesia  
Jakarta, Indonesia  
Tallinn, Estonia  
43.83  
15.00  
50.00  
30.00  
32.28  
9.69  
144  
20  
9
19  
-ꢀ11  
-ꢀ337  
-12  
7
6
6
There Holding B.V.  
Rijswijk, Netherlands  
Berlin, Germany  
29.56  
15.00  
15.15  
12.28  
1,764  
65  
Toll4Europe GmbH  
Verimi GmbH  
Frankfurt am Main, Germany  
New York, USA  
Via Transportation Inc.  
178  
-ꢀ81  
7
VII. Joint operations, joint ventures, associated companies and substantial other investments  
accounted for at (amortized) cost  
Abgaszentrum der Automobilindustrie GbR  
BDF IP Holdings Ltd.  
Weissach, Germany  
Burnaby, Canada  
25.00  
33.00  
51.00  
5.55  
2, 4  
9
Beijing Mercedes-Benz Sales Service Co., Ltd.  
ChargePoint Inc.  
Beijing, China  
49  
11  
Campbell, USA  
COBUS Industries GmbH  
Wiesbaden, Germany  
Esslingen am Neckar, Germany  
Berlin, Germany  
40.82  
26.57  
25.00  
Esslinger Wohnungsbau GmbH  
European Center for Information and Communication  
Technologies - EICT GmbH  
EvoBus Hungária Kereskedelmi Kf .  
Gottapark, Inc.  
Budapest, Hungary  
San Francisco, USA  
Berlin, Germany  
Berlin, Germany  
Pontcharra, France  
Berlin, Germany  
33.33  
18.09  
18.37  
2.90  
Grundstücksgesellschaf Schlossplatz 1 mbH & Co. KG  
H2 Mobility Deutschland GmbH & Co. KG  
hap2U SAS  
4
34.59  
20.00  
inpro Innovationsgesellschaf für fortgeschrittene  
Produktionssysteme in der Fahrzeugindustrie mbH  
Laureus World Sports Awards Limited  
MercedesService Card GmbH & Co. KG  
MFTB Taiwan Co., Ltd.  
London, United Kingdom  
Kleinostheim, Germany  
Taipei, Taiwan  
50.00  
51.00  
33.40  
5.10  
Momenta Global Limited  
Grand Cayman, Cayman Islands  
Jeddah, Saudi Arabia  
Ohmuta, Japan  
National Automobile Industry Company Ltd.  
Omuta Unso Co., Ltd.  
26.00  
33.51  
20.00  
PDB - Partnership for Dummy Technology and  
Biomechanics GbR  
Ingolstadt, Germany  
4
Proterra Inc.  
Burlingame, USA  
New York, USA  
5.12  
12.33  
20.00  
50.00  
51.00  
20.84  
28.20  
5.17  
Rally Bus Corp.  
REV Coach LLC  
smart-BRABUS GmbH  
STARCAM s.r.o.  
tiramizoo GmbH  
Toyo Kotsu Co., Ltd.  
Turo Inc.  
Wilmington, USA  
Bottrop, Germany  
Most, Czech Republic  
Munich, Germany  
Sannoseki, Japan  
San Francisco, USA  
Stuttgart, Germany  
Bruchsal, Germany  
Hinxworth, United Kingdom  
Seattle, USA  
VfB Stuttgart 1893 AG  
Volocopter GmbH  
what3words Ltd.  
Zonar Systems, Inc.  
11.75  
10.17  
12.23  
19.42  
53  
-ꢀ14  
9
1
2
3
4
Shareholding pursuant to Sectionꢀ16 of the German Stock Corporation Act (AktG)  
In liquidation  
Profit-and-loss transfer agreement with Daimler AG (direct or indirect)  
Daimler AG is the partner with unlimited liability.  
Furthermore, Daimler AG is the partner with unlimited liability in MOST Cooperation GbR, Karlsruhe (Germany).  
Pre-consolidating company  
Financial statements according to IFRS 2018  
Financial statements according to IFRS 2017  
Financial statements according to local GAAP 2018  
Financial statements according to local GAAP 2017  
5
6
7
8
9
1
0 Control over the investment of the assets. No consolidation of the assets due to the contractual situation  
50  
D | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | BOARD OF MANAGEMENT  
Board of Management  
Stuttgart, February 13, 2019  
Dieter Zetsche  
Martin Daum  
Renata Jungo Brüngger  
Ola Källenius  
Britta Seeger  
Bodo Uebber  
Wilfried Porth  
Hubertus Troska  
E | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | RESPONSIBILITY STATEMENT 51  
Responsibility Statement  
To the best of our knowledge, and in accordance with  
applicable reporting principles, the financial statements give  
a true and fair view of the financial position, cash flows and  
profit or loss of Daimler AG, and the management report, which  
has been combined with the Group management report,  
includes a fair review of the development and performance of  
the business and the position of the Company, together with  
a description of the principal opportunities and risks associated  
with the expected development of Daimler AG.  
52 F | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | INDEPENDENT AUDITORS’ REPORT  
Independent Auditor‘s Report  
To Daimler AG, Stuttgart  
Basis for the Opinions  
We conducted our audit of the annual financial statements and  
of the combined management report in accordance with  
Section 317 HGB and the EU Audit Regulation (No. 537/2014;  
referred to subsequently as the “EU Audit Regulation”) and  
in compliance with German Generally Accepted Standards for  
Financial Statement Audits promulgated by the Institut der  
Wirtschaf sprüfer [Institute of Public Auditors in Germany] (IDW).  
Our responsibilities under those requirements and principles  
are further described in the “Auditor’s Responsibilities for the  
Audit of the Annual Financial Statements and the Combined  
Report on the Audit of the Annual Financial  
Statements and of the Combined Management  
Report  
Opinions  
We have audited the financial statements of Daimler AG, Stutt-  
gart (the Company), which comprise the balance sheet as of  
December 31, 2018 and the income statement for the financial  
year from January 1 to December 31, 2018, as well as the  
notes to the financial statements, including the recognition and  
M
anagement Report” section of our auditor’s report. We are  
independent of the Company in accordance with the require-  
ments of European law and German commercial and profes-  
sional law, and we have fulfilled our other German professional  
responsibilities in accordance with these requirements. In  
addition, in accordance with Article 10 paragraph 2 letter f) of  
the EU Audit Regulation, we declare that we have not provided  
any non-audit services prohibited under Article 5 paragraph 1  
of the EU Audit Regulation. We believe that the evidence we  
have obtained is sufficient and appropriate to provide a basis  
for our opinions on the annual financial statements and the  
combined management report.  
m
easurement policies presented therein. In addition, we  
have audited the combined management report of Daimler AG,  
Stuttgart, for the financial year from January 1 to December  
31, 2018.  
In our opinion, on the basis of the knowledge obtained in the  
audit  
the accompanying annual financial statements comply, in all  
material respects, with the requirements of German com-  
mercial law applicable to business corporations and give  
a true and fair view of the assets, liabilities and financial  
position of the Company as of December 31, 2018, and of its  
financial performance for the financial year from January 1  
to December 31, 2018, in compliance with German Legally  
Required Accounting Principles, and  
Key Audit Matters in the Audit of the Annual Financial  
Statements  
Key audit matters are those matters that, in our professional  
judgment, were of most significance in our audit of the annual  
financial statements for the financial year from January 1 to  
December 31, 2018. These matters were addressed in the con-  
the accompanying combined management report as a whole text of our audit of the annual financial statements as a whole,  
provides an appropriate view of the Company’s position. and in forming our opinion thereon; we do not provide a sepa-  
In all material respects, the combined management report is rate opinion on these matters.  
consistent with the annual financial statements, complies  
with German legal requirements and appropriately presents  
the opportunities and risks of future development.  
Impairment of Financial Assets  
Pursuant to Section 322 paragraph 3 sentence 1 HGB [Handels- Please refer with regard to the accounting policies and methods  
gesetzbuch: German Commercial Code], we declare that our  
audit has not led to any reservations relating to the legal com-  
applied to the notes to the financial statements in the section  
entitled “Accounting policies and methods”. Further information  
pliance of the annual financial statements and of the combined on the financial assets can be found in the notes to the finan-  
management report.  
cial statements in Note 3 “Financial assets” in the section enti-  
tled “Notes to the Balance Sheet” and in the comments in the  
combined management report in the section entitled “Compa-  
ny-specific risks and opportunities – risks and opportunities  
related to associated companies, joint ventures and joint oper-  
ations”.  
F | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | INDEPENDENT AUDITORS’ REPORT 53  
THE RISK FOR THE ANNUAL FINANCIAL STATEMENTS  
order to evaluate the acceptability of the Company’s assump-  
tions, we evolved a range of acceptable carrying amounts for  
Daimler AG holds shares in subsidiaries and associated compa- the lower fair values with the help of our valuation model.  
nies with a book value of € 42 billion.  
In order to audit the valuation of significant shares in affiliated  
Financial assets are measured at cost of acquisition or, if there companies, which were transferred within the Group at fair  
is an indication of permanent impairment, at the lower fair  
values.  
value in conjunction with the “Project Future”, we used as a  
basis the valuation reports of the external appraiser instructed  
by Daimler AG. For this we assessed the competence, capa-  
bilities and objectivity of the external appraiser. We then evalu-  
ated the appropriateness of the main assumptions and the  
measurement model for the company valuations that were per-  
formed, using our own valuation specialists. To this end, we  
discussed the expected cashflows and the assumed long-term  
growth rates with those responsible for the planning and the  
independent appraiser. In addition, we evaluated the consistency  
of the assumptions with external market assessments. We  
compared the assumptions and parameters supporting the  
capitalization interest rate with our own assumptions and pub-  
lically available data. In order to take account of the prevailing  
forecast uncertainty, we calculated and evaluated alternative  
scenarios (sensitivity analyses) with regard to the main  
assumptions impacting the cashflow forecasts. In order to  
ensure the arithmetical correctness of the valuation model that  
was applied, we checked the calculations on the basis of  
selected risk-oriented elements.  
In the absence of market values, the lower fair value as the  
benchmark for impairment of the financial assets is primarily  
determined as the discretionary future earnings value. If the  
fair value is lower than the book value, it is investigated on the  
basis of qualitative and quantitative criteria whether the  
impairment is expected to be permanent. The assessment of  
impairment including the calculation of the fair value via the  
future earnings value is complex and, as regards the assump-  
tions made, dependent to a high degree on estimations and  
assessments by the Company. This applies in particular to the  
e
stimation of the future cashflows and long-term growth  
rates and the determination of the interest rates applied for  
capitalization purposes. On account to the complexity and the  
discretion in connection with the determination of the fair  
value, the main risk is that impairment will not be identified in  
time or that the impairment loss recognized is inadequate.  
In the light of updated assessments of the market and unit sales  
developments in newly industrialized countries, write-downs  
of altogether € 254 million were recorded in the financial year  
on interests in subsidiaries and associated companies.  
OUR OBSERVATIONS  
The approach providing the basis for the impairment tests on  
the financial assets is appropriate and is consistent with the  
accounting principles. The Company’s assumptions and param-  
eters are appropriate.  
OUR AUDIT APPROACH  
We performed a risk-oriented audit. We first of all evaluated the  
process for determining the need to recognize impairment  
and assessed, on the basis of the information obtained in the Measurement of the Provision for Product  
course of our audit, the subsidiaries and associated compa-  
nies where there are indications of the need to recognize impair-  
Warranties  
ment. To this end, we appraised in particular the impairment  
test documentation and reviewed the forecasts on the future  
development of the revenue and earnings of the individual  
companies.  
inancial statements in Note 11 “Other provisions” in the section  
Our audit procedures on the valuation of the, in our opinion, main entitled “Notes to the Balance Sheet” and in the comments in  
Please refer with regard to the accounting policies and methods  
applied to the notes to the financial statements in the section  
entitled “Accounting policies and methods”. Further information  
on the product warranties can be found in the notes to the  
f
financial investments that are at risk, which were not trans-  
ferred within the Group in conjunction with the bundling of the  
Mercedes-Benz Cars and Mercedes-Benz Vans divisions and  
the Daimler Trucks and Daimler Buses divisions of the Daimler  
Group in each case into legally independent business entities  
the combined management report in the section entitled “Com-  
pany-specific risks and opportunities - warranty and goodwill  
cases”.  
THE RISK FOR THE ANNUAL FINANCIAL STATEMENTS  
(
“Project Future”), consisted in particular of the assessment of  
whether the underlying cashflow forecasts are based on accu-  
rate and acceptable assumptions. Hereby we first of all com-  
pared the unit sales expected by the companies with the exter-  
nal market assessments. At the same time, we evaluated the  
explanations of the Company’s legal representatives regarding  
the main assumptions, the strategic considerations and the  
operative measures reflected in the budgets with regard to  
their impact on the cashflow forecasts. We used our own valu-  
ation specialists in order to assess the valuation methods and  
the interest rates applied for capitalization purposes with  
regard to the determination of the lower fair value and to audit  
the mathematical correctness of the discounted cashflows. In  
Daimler AG has set up provisions for product warranties, which  
are included in the other provisions of € 14,372 million.  
Daimler AG faces various claims under product guarantees, or  
grants various kinds of product warranties, which are entered  
into for the error-free functioning of a Daimler product sold or  
service rendered over a defined period of time. In order to  
c
onfirm or reassess future guarantee, warranty and goodwill  
expenses, continuously updated information on the nature  
and volume and the remedying of faults that have occurred is  
recorded and analyzed at the level of the business unit, model  
series, damage key and sales year.  
5
4 F | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | INDEPENDENT AUDITORS’ REPORT  
Significant uncertainty for the calculation of the provision arises The assessment of these future market values is subject to  
with regard to the future loss event. The risk for the annual  
financial statements is that the provision is not properly mea-  
sured.  
discretionary judgment.  
There is a risk for the annual financial statements that inade-  
quate account will be taken in the measurement of the provi-  
sions for buyback commitments and residual value guarantees  
of the marketing opportunities with regard to vehicles with  
OUR AUDIT APPROACH  
Our audit procedures included among other things the evaluation diesel technology in the estimation of the future market values.  
of the process to calculate the provision for product warranties  
and the evaluation of the relevant assumptions and their deri- OUR AUDIT APPROACH  
vation for the measurement of the provisions. These include  
primarily assumptions on expected susceptibility to and the  
course of damage, and in addition the monetary value of the  
damage per vehicle based on actual warranty, guarantee and  
goodwill losses. Based on historical analyses, we assessed  
the accuracy of the forecasts of past warranty, guarantee and  
goodwill costs. We also checked that updated assessments  
of the future repair costs and procedures were taken into  
account. We obtained an understanding for the underlying  
numbers of vehicles through the actual unit sales.  
Our main focus in our risk-oriented audit approach was on the  
market value forecasts for used cars with diesel technology.  
We first of all evaluated the process implemented by the Com-  
pany to identify risks resulting from the buyback commitments  
or residual value guarantees entered into. We checked whether  
Daimler AG regularly updates the market price forecasts, tak-  
ing into account the assessments of third parties. At the same  
time, we evaluated the accuracy of previous market value  
forecasts, based on a historical analysis, in that the continuously  
reviewed and, where necessary, adjusted forecasted market  
values of returns from leasing are compared with the realized  
sales proceeds of the vehicles at the time of buyback on expiry  
of the lease term, and thereby assessed the quality of the pro-  
cess for arriving at future market values.  
OUR OBSERVATIONS  
The calculation methods and the assumptions made are  
appropriate.  
OUR OBSERVATIONS  
Measurement of the Provision for Risks on  
Buyback Commitments or Residual Value  
Guarantees  
The future-oriented estimation of the market values is as a  
whole balanced and appropriate.  
Please refer with regard to the accounting policies and methods  
applied to the notes to the financial statements in the section  
entitled “Accounting policies and methods”. Further information  
on the risks on buyback commitments or residual value guar-  
antees can be found in the notes to the financial statements in  
Note 11 “Other provisions” in the section entitled “Notes to  
Accounting Treatment of Legal Proceedings  
Please refer with regard to the accounting policies and methods  
applied to the notes to the financial statements in the section  
entitled “Accounting policies and methods”. Further information  
the Balance Sheet” and in the comments in the combined man- on the legal proceedings can be found in the notes to the finan-  
agement report in the section entitled “Industry and business  
risks and opportunities”.  
cial statements in the section entitled “Legal Proceedings” and  
in the comments in the combined management report in the  
section entitled “legal and tax risks – legal risks”.  
THE RISK FOR THE ANNUAL FINANCIAL STATEMENTS  
THE RISK FOR THE ANNUAL FINANCIAL STATEMENTS  
Daimler AG has set up provisions for risks on buyback commit-  
ments and residual value guarantees, which are included in the Daimler is confronted by various legal proceedings, claims and  
other provisions of € 14,372 million.  
governmental investigations and orders (legal proceedings)  
on a wide range of topics, including for example vehicle safety,  
Daimler AG grants customers or dealers on leasing or financing emissions, fuel economy, financial services, dealer, supplier  
agreements residual value guarantees or enters into buyback and other contractual relationships, intellectual property rights  
commitments. Daimler AG sets up provisions for risks resulting product warranties, environmental matters, antitrust matters  
,
from buyback commitments or residual value guarantees if the  
forecast market value of the vehicle at the return date is lower  
than the guaranteed buyback price.  
(including actions for damages) and shareholder matters. Legal  
proceedings relating to products deal with claims on account  
of alleged vehicle defects. Some of these claims are asserted by  
way of class action suits. If the outcome of such legal pro-  
ceedings is detrimental to Daimler AG, the Company may be  
required to pay substantial compensatory and punitive dam-  
In view of the ongoing discussion on diesel as a driving tech-  
nology and the first legally prescribed and threatened or  
already implemented traffic bans in cities with high levels of air ages or to undertake service actions, recall campaigns, mone-  
pollution, uncertainty exists with regard to the further market-  
ability of used vehicles with diesel technology and accordingly  
the development of the market values achievable in the future.  
tary penalties or other costly actions.  
Whether the recognition of a provision and, if so, in what amount  
it is necessary on account of legal proceedings is dependent  
to a high degree on discretionary estimates and assumptions  
by the legal representatives. In view of this and the monetary  
amounts involved with regard to the risks, the following legal  
proceedings of Daimler AG are in our opinion of particular  
importance.  
F | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | INDEPENDENT AUDITORS’ REPORT 55  
a) Diesel emission behavior – administrative proceedings  
Several state and federal authorities and further institutions  
OUR AUDIT APPROACH  
Our audit procedures comprised firstly an evaluation of the pro-  
worldwide have made inquiries and/or have carried out investi- cess established by the Company to ensure the recording, the  
gations and/or proceedings and/or have issued directives. estimation of the outcome of the proceedings and the reflection  
The inquiries and investigations cover test results, the emission in the annual financial statements of the legal proceedings.  
control systems in Mercedes-Benz diesel vehicles and/or the  
interaction of the Company with the relevant state and federal  
authorities as well as related legal issues and implications,  
Secondly, we held discussions with the internal legal depart-  
ment and with further departments familiar with the matters  
under dispute and the Company’s external advisors and attor-  
including, but not limited to, those under applicable environmen- neys, in order to obtain explanations on the developments  
tal, securities and criminal and antitrust laws.  
and the reasons that had led to the respective estimations. In  
addition, we reviewed the underlying documents and minutes.  
We were provided by the Company with the legal representa-  
tives’ written assessment in the aforementioned areas. As of  
the reporting date, assessments were available from external  
attorneys, which support the assessment of the risks by the  
legal representatives.  
b) Diesel emission behavior – class action and other suits in  
USA and Canada  
In class action suits pending in the USA, Canada and State of  
Arizona the use of devices that impermissibly impair the effec-  
tiveness of emission control systems in reducing nitrogen-oxide Finally, we evaluated the appropriateness of the description of  
(
NO ) emissions and which are supposed to cause excessive  
the aforementioned legal proceedings in the notes to the finan-  
cial statements.  
X
emissions from vehicles with diesel engines is accused. In  
addition, the plaintiffs claim that consumers were deliberately  
misled in connection with the advertising for Mercedes-Benz  
diesel vehicles. In addition, it is alleged in one of these class  
OUR OBSERVATIONS  
action suits that Daimler had conspired with a component sup- The discretionary assessments and assumptions are appropriate.  
plier in order to deceive U.S. supervisory authorities and con-  
sumers.  
Responsibilities of the Legal Representatives and the  
Supervisory Board for the Annual Financial Statements  
and the Combined Management Report  
c) Antitrust proceedings (including damage suits)  
The legal representatives are responsible for the preparation  
Following the imposition of a fine by the European Commission of the annual financial statements that comply, in all material  
against Daimler AG and other truck manufacturers in July respects, with the requirements of German commercial law  
016, truck customers have raised damage claims against applicable to business corporations, and that the annual finan-  
Daimler AG. cial statements give a true and fair view of the assets, liabili-  
ties, financial position and financial performance of the Com-  
Since July 25, 2017, several class action suits have been filed pany in compliance with German Legally Required Accounting  
in the USA and in Canada against Daimler AG and other Principles. In addition, the legal representatives are responsible  
automobile manufacturers and several of their North American for such internal control as they, in accordance with German  
subsidiaries. The plaintiffs claim to have suffered losses Legally Required Accounting Principles, have determined nec-  
2
because it is alleged that the defendants have engaged since essary to enable the preparation of annual financial statements  
the nineteen-nineties in anticompetitive behavior with regard that are free from material misstatement, whether due to fraud  
to motor vehicle technology, costs, suppliers, markets and  
other anticompetitive matters, including diesel emission  
or error.  
control technology. On October 4, 2017, all pending U.S. class In preparing the annual financial statements, the legal repre-  
actions were centralized in one proceeding. On March 15,  
018, the plaintiffs in the U.S. class action suits expanded  
sentatives are responsible for assessing the Company’s ability  
to continue as a going concern. They are also responsible for  
2
and consolidated their claims in two briefs, one of which was disclosing, as applicable, matters related to going concern. In  
in the name of the consumers and the other in the name of  
the dealers.  
addition, they are responsible for financial reporting based  
n the going concern basis of accounting, provided no actual  
or legal circumstances conflict therewith.Furthermore, the  
Daimler AG already filed an application for immunity (“leniency legal representatives are responsible for the preparation of the  
application”) some time ago with the European Commission combined management report that as a whole provides an  
in this connection. In the third quarter of 2018, the European appropriate view of the Company’s position and is, in all mate-  
o
Commission instituted a formal investigation into possible  
collusion regarding emission reduction systems.  
rial respects, consistent with the annual financial statements,  
complies with German legal requirements, and appropriately  
presents the opportunities and risks of future development.  
In addition, the legal representatives are responsible for such  
arrangements and measures (systems) as they have consid-  
ered necessary to enable the preparation of a combined man-  
agement report that is in accordance with the applicable  
German legal requirements, and for providing sufficient appro-  
priate evidence for the assertions in the combined manage-  
ment report.  
The recognition and measurement of the provisions set up for  
the legal proceedings are based on discretionary assessments  
and assumptions by the legal representatives.  
The risk for the annual financial statements is that provisions  
for legal proceedings are not set up or are inadequate.  
56 F | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | INDEPENDENT AUDITORS’ REPORT  
The supervisory board is responsible for overseeing the Com-  
pany’s financial reporting process for the preparation of the  
annual financial statements and the combined management  
report.  
– evaluate the appropriateness of accounting policies used by  
the legal representatives and the reasonableness of esti-  
mates made by the legal representatives and related disclo-  
sures.  
Auditor’s Responsibilities for the Audit of the Annual  
Financial Statements and the Combined Management  
Report  
– conclude on the appropriateness of the use by the legal rep-  
resentatives of the going concern basis of accounting and,  
based on the audit evidence obtained, whether a material  
uncertainty exists related to events or conditions that may  
cast significant doubt on the Company’s ability to continue  
as a going concern. If we conclude that a material uncer-  
tainty exists, we are required to draw attention in the audi-  
tor’s report to the related disclosures in the annual financial  
statements and the combined management report or, if  
such disclosures are inadequate, to modify our respective  
opinions. Our conclusions are based on the audit evidence  
obtained up to the date of our auditor’s report. However,  
future events or conditions may cause the Company to cease  
to be able to continue as a going concern.  
Our objectives are to obtain reasonable assurance about  
whether the annual financial statements as a whole are free  
from material misstatements, whether due to fraud or error,  
and whether the combined management report as a whole pro-  
vides an appropriate view of the Company’s position and, in  
all material respects, is consistent with the annual financial  
statements and the knowledge obtained in the audit, complies  
with the German legal requirements and appropriately pres-  
ents the opportunities and risks of future development, as well  
as to issue an auditor’s report that includes our opinions on  
the annual financial statements and the combined manage-  
ment report.  
evaluate the overall presentation, structure and content of  
the annual financial statements, including the disclosures,  
and whether the annual financial statements present the  
underlying transactions and events in a manner that the  
annual financial statements give a true and fair view of the  
assets, liabilities, financial position and financial perfor-  
mance of the Company in compliance with German Legally  
Required Accounting Principles.  
Reasonable assurance is a high level of assurance, but is not a  
guarantee that an audit conducted in accordance with Section  
3
17 HGB and the EU Audit Regulation and in compliance with  
German Generally Accepted Standards for Financial Statement  
Audits promulgated by the Institut der Wirtschaf sprüfer [Insti-  
tute of Public Auditors in Germany] (IDW) will always detect a  
material misstatement. Misstatements can arise from fraud or  
error and are considered material if, individually or in the  
aggregate, they could reasonably be expected to influence the  
economic decisions of users taken on the basis of these annual  
financial statements and this combined management report  
evaluate the consistency of the combined management report  
with the annual financial statements, its conformity with  
[German] law, and the view of the Company’s position it pro-  
vides.  
We exercise professional judgment and maintain professional  
skepticism throughout the audit. We also  
– perform audit procedures on the prospective information  
presented by the legal representatives in the combined man-  
agement report. On the basis of sufficient appropriate audit  
evidence, we evaluate, in particular, the significant assump-  
tions used by the legal representatives as a basis for the  
prospective information, and evaluate the proper derivation  
of the prospective information from these assumptions.  
We do not express a separate opinion on the prospective infor-  
mation and on the assumptions used as a basis. There is a  
substantial unavoidable risk that future events will differ  
materially from the prospective information.  
identify and assess the risks of material misstatement of the  
annual financial statements and of the combined manage-  
ment report, whether due to fraud or error, design and per-  
form audit procedures responsive to those risks, and obtain  
audit evidence that is sufficient and appropriate to provide  
a basis for our opinions. The risk of not detecting a material  
m
isstatement resulting from fraud is higher than for one  
resulting from error, as fraud may involve collusion, forgery,  
intentional omissions, misrepresentations, or the override of  
internal controls.  
We communicate with those charged with governance regard-  
ing, among other matters, the planned scope and timing of the  
audit and significant audit findings, including any significant  
deficiencies in internal control that we identify during our audit.  
obtain an understanding of internal control relevant to the  
audit of the annual financial statements, and of arrange-  
ments and measures (systems) relevant to the audit of the  
combined management report, in order to design audit  
procedures that are appropriate in the circumstances, but  
not for the purpose of expressing an opinion on the effec-  
tiveness of these systems of the Company.  
F | ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | INDEPENDENT AUDITORS REPORT 57  
We also provide those charged with governance with a state-  
ment that we have complied with the relevant independence  
requirements, and communicate with them all relationships and  
other matters that may reasonably be thought to bear on our  
independence, and where applicable, the related safeguards.  
From the matters communicated with those charged with gover-  
nance, we determine those matters that were of most signifi-  
cance in the audit of the annual financial statements of the cur-  
rent period and are therefore the key audit matters. We describe  
these matters in our auditor’s report unless laws or other legal  
regulations preclude public disclosure of the matter.  
Other Legal and Regulatory Requirements  
Further Information pursuant to Articleꢀ10 of the EU Audit  
Regulation  
We were elected as auditor by the annual general meeting on  
April 5, 2018. We were engaged by the supervisory board on  
April 26, 2018. We have been the auditor of Daimler AG without  
interruption since the financial year 1998.  
We declare that the opinions expressed in this auditor’s report  
are consistent with the additional report to the audit committee  
pursuant to Article 11 of the EU Audit Regulation (long-form  
audit report).  
German Public Auditor Responsible for the Engagement  
The German Public Auditor responsible for the engagement is  
Dr. Axel Thümler.  
Stuttgart, February 13, 2019  
KPMG AG  
Wirtschaf sprüfungsgesellschaf  
[Original German version signed by]  
gez. Becker  
Wirtschaf sprüfer  
gez. Dr. Thümler  
Wirtschaf sprüfer  
[German Public Auditor]  
[German Public Auditor]  
ANNUAL FINANCIAL STATEMENTS 2018 OF DAIMLER AG | FORWARD-LOOKING STATEMENTS  
Forward-looking statements:  
This document contains forward-looking statements that reflect our current  
views about future events. The words “anticipate,” “assume,” “believe,”  
estimate,” “expect,” “intend,” “may,” ”can,” “could,” “plan,” “project,” “should”  
and similar expressions are used to identify forward-looking statements.  
These statements are subject to many risks and uncertainties, including an  
adverse development of global economic conditions, in particular a decline  
of demand in our most important markets; a deterioration of our refinancing  
possibilities on the credit and financial markets; events of force majeure  
including natural disasters, acts of terrorism, political unrest, armed conflicts,  
industrial accidents and their effects on our sales, purchasing, production  
or financial services activities; changes in currency exchange rates and tariff  
regulations; a shif in consumer preferences towards smaller, lower-margin  
vehicles; a possible lack of acceptance of our products or services which limits  
our ability to achieve prices and adequately utilize our production capacities;  
price increases for fuel or raw materials; disruption of production due to short-  
ages of materials, labor strikes or supplier insolvencies; a decline in resale  
prices of used vehicles; the effective implementation of cost-reduction and  
efficiency-optimization measures; the business outlook for companies in  
which we hold a significant equity interest; the successful implementation of  
strategic cooperations and joint ventures; changes in laws, regulations and  
government policies, particularly those relating to vehicle emissions, fuel econ-  
omy and safety; the resolution of pending government investigations or of  
investigations requested by governments and the conclusion of pending or  
threatened future legal proceedings; and other risks and uncertainties, some  
of which we describe under the heading “Risk and Opportunity Report” in the  
current Annual Report. If any of these risks and uncertainties materializes  
or if the assumptions underlying any of our forward-looking statements prove  
to be incorrect, the actual results may be materially different from those we  
express or imply by such statements. We do not intend or assume any obliga-  
tion to update these forward-looking statements since they are based solely  
on the circumstances at the date of publication.  
These documents represent the English translation of the  
German “Jahresabschluss” which is the sole authoritative  
version.  
Daimler AG  
Mercedesstraße 137  
70327 Stuttgart  
Germany  
www.daimler.com  


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