Aéroports de Paris - 2019 Universal registration document

FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS 18 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2019

4.9.2 Impairment tests on investments in associates and joint ventures

Investments in associates are tested for impairment when the Group identifies one or more indices of impairment likely to have an impact on the future estimated cash flows from these associates. An impairment loss is recognized if the recoverable value of the investment falls below its carrying value.

In 2019, the Group did not recognize the depreciation on investments in associates and joint ventures. As a reminder, in 2018, a provision for depreciation on international investments was recognized for €20 million.

4.9.3 Breakdown of balance sheet amounts The amounts relating to the stakes recognized with the equity method can be analysed as follows:

As at Dec 31, 2019

As at Dec 31, 2018

(in millions of euros)

International and airport developments

975

1,091

Retail and services

3

12

Real estate

30

32

Other activities

11

11

TOTAL INVESTMENT IN ASSOCIATES

1,019

1,146

The goodwill recognized and included within the shares consolidated under the equity method above amounts to: ◆ €147 million for the International and airport developments sector, including €120 million for Schiphol, €22 million preliminary goodwill for TAV Antalya and €5 million for TGS; ◆ €3 million for the other activities sector.

4.9.4 Changes in share of net assets Changes in the Group’s share of the net asset value of associates and joint ventures at the beginning and ending of the periods are as follows:

Change in translation adjustment reserves

Net amount as at Jan 1, 2019

Net amount as at Dec 31, 2019

Change in consolidation scope 1

Change in other reserves and reclassifications

Share of net profit (loss) for the period

Dividends paid 2

(in millions of euros)

International and airport developments

1,091

48

-

(4)

(4)

(156)

975

Retail and services

12

41

(53)

- - -

3

-

3

Real estate

32

1 -

- -

- -

(3)

30

Other activities

11

-

11

TOTAL INVESTMENT IN ASSOCIATES

1,146

90

(53)

(4)

(1)

(159)

1,019

1 See note 2.1. 2 Including the results of tax-transparent real estate companies.

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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019