15 Equity-accounted investments and other equity investments

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CHANGES IN EQUITY-ACCOUNTED INVESTMENTS AND OTHER EQUITY INVESTMENTS IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2016

€ million

 

Equity-accounted investments

 

Other equity investments

 

Total

 

 

 

 

 

 

 

Gross carrying amount at Jan. 1, 2016

 

10,985

 

1,333

 

12,318

Foreign exchange differences

 

−100

 

−1

 

−101

Changes in consolidated Group

 

−11

 

−103

 

−114

Additions

 

525

 

191

 

716

Transfers

 

 

 

Disposals

 

2,193

 

3

 

2,197

Changes recognized in profit or loss

 

3,250

 

 

3,250

Dividends

 

−3,598

 

 

−3,598

Other changes recognized in other comprehensive income

 

−131

 

 

−131

Balance at Dec. 31, 2016

 

8,727

 

1,417

 

10,143

Impairment losses
Balance at Jan. 1, 2016

 

81

 

358

 

439

Foreign exchange differences

 

−1

 

1

 

0

Changes in consolidated Group

 

 

−57

 

−57

Additions

 

30

 

120

 

150

Transfers

 

 

 

Disposals

 

 

1

 

1

Reversal of impairment losses

 

 

0

 

0

Balance at Dec. 31, 2016

 

110

 

420

 

531

Carrying amount at Dec. 31, 2016

 

8,616

 

996

 

9,613

  (XLS:) Download

CHANGES IN EQUITY-ACCOUNTED INVESTMENTS AND OTHER EQUITY INVESTMENTS IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2017

€ million

 

Equity-accounted investments

 

Other equity investments

 

Total

 

 

 

 

 

 

 

Gross carrying amount at Jan. 1, 2017

 

8,727

 

1,417

 

10,143

Foreign exchange differences

 

−129

 

−17

 

−146

Changes in consolidated Group

 

−13

 

−90

 

−104

Additions

 

348

 

519

 

867

Transfers

 

 

0

 

0

Held for sale

 

−86

 

 

−86

Disposals

 

7

 

34

 

40

Changes recognized in profit or loss

 

3,495

 

 

3,495

Dividends

 

−3,640

 

 

−3,640

Other changes recognized in other comprehensive income

 

−251

 

30

 

−221

Balance at Dec. 31, 2017

 

8,443

 

1,825

 

10,268

Impairment losses
Balance at Jan. 1, 2017

 

110

 

420

 

531

Foreign exchange differences

 

−1

 

−3

 

−4

Changes in consolidated Group

 

 

−15

 

−15

Additions

 

129

 

129

 

258

Transfers

 

 

 

Disposals

 

 

24

 

24

Reversal of impairment losses

 

 

1

 

1

Balance at Dec. 31, 2017

 

238

 

507

 

745

Carrying amount at Dec. 31, 2017

 

8,205

 

1,318

 

9,523

Equity-accounted investments include joint ventures in the amount of €6,459 million (previous year: €7,068 million) and associates in the amount of €1,746 million (previous year: €1,548 million).

The additions of equity-accounted investments are mainly attributable to the acquisition of the investment in Navistar in the amount of €0.3 billion (previous year: acquisition of investment in Gett and measurement of shares in GMH at the selling price). In the previous year, the disposals resulted from the divestment of LeasePlan by GMH. Further details can be found in the disclosures in the section entitled “Basis of consolidation”.

Of the other changes recognized in other comprehensive income, €−249 million (previous year: €−132 million) is attributable to joint ventures and €−2 million (previous year: €1 million) to associates. They are mainly the result of foreign exchange differences in the amount of €−327 million (previous year: €−156 million), pension plan remeasurements in the amount of €112 million (previous year: €−1 million) and losses on the fair value measurement of cash flow hedges in the amount of €−30 million (previous year: €33 million).