VOLKSWAGEN GROUP – ANNUAL REPORT 2018

Statement of Comprehensive Income of the Volkswagen Group for the Period January 1 to December 31, 2017

Equity
Equity attributable to Equity
attributable to Volkswagen AG attributable to
Volkswagen AG hybrid capital noncontrolling
€ million Total shareholders investors interests

Earnings after tax 11,463 11,179 274 10

Pension plan remeasurements recognized in other comprehensive
income
Pension plan remeasurements recognized in other comprehensive
income, before tax 785 784 – 1
Deferred taxes relating to pension plan remeasurements
recognized in other comprehensive income -198 -198 – 0
Pension plan remeasurements recognized in other comprehensive
income, net of tax 588 586 – 1
Fair value valuation of other participations and securities (equity
instruments) that will not be reclassified to profit or loss, net of tax 106 106 – –
Share of other comprehensive income of equity-accounted
investments that will not be reclassified to profit or loss, net of tax 96 96 – –
Items that will not be reclassified to profit or loss 789 788 – 1
Exchange differences on translating foreign operations
Gains/losses on currency translation recognized in other
comprehensive income -2,095 -2,094 – -1
Transferred to profit or loss -4 -4 – –

Exchange differences on translating foreign operations, before tax -2,099 -2,098 – -1

Deferred taxes relating to exchange differences on translating
foreign operations -8 -8 – –
Exchange differences on translating foreign operations, net of tax -2,107 -2,106 – -1
Hedging
Fair value changes recognized in other comprehensive income
(OCI I) 6,216 6,216 – 0
Transferred to profit or loss (OCI I) -558 -558 – 0
Cash flow hedges (OCI I), before tax 5,659 5,658 – 0
Deferred taxes relating to cash flow hedges (OCI I) -1,621 -1,621 – 0
Cash flow hedges (OCI I), net of tax 4,038 4,038 – 0
Fair value changes recognized in other comprehensive income
(OCI II) 171 171 – –
Transferred to profit or loss (OCI II) – – – –
Cash flow hedges (OCI II), before tax 171 171 – –
Deferred taxes relating to cash flow hedges (OCI II) -51 -51 – –
Cash flow hedges (OCI II), net of tax 120 120 – –
Fair value valuation of securities and receivables (debt
instruments) that may be reclassified to profit or loss
Fair value changes recognized in other comprehensive income -19 -19 – –
Transferred to profit or loss -1 -1 – –
Fair value valuation of securities and receivables (debt
instruments) that may be reclassified to profit or loss, before tax -20 -20 – –
Deferred taxes relating to fair value valuation of securities and
receivables (debt instruments) recognized in other comprehensive
income 7 7 – –
Fair value valuation of securities and receivables (debt instruments)
that may be reclassified to profit or loss, net of tax -13 -13 – –
Share of other comprehensive income of equity-accounted
investments that may be reclassified to profit or loss, net of tax -346 -346 – –
Items that may be reclassified to profit or loss 1,691 1,691 – -1
Other comprehensive income, before tax 4,351 4,350 – 1
Deferred taxes relating to other comprehensive income -1,871 -1,871 – 0
Other comprehensive income, net of tax 2,480 2,479 – 1
Total comprehensive income 13,943 13,658 274 11
1 Prior-year figures adjusted (see disclosures on IFRS 9 and IFRS 15).