BPCE - 2019 Universal Registration Document

5

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF BPCE SA GROUP AS AT DECEMBER 31, 2019

Figures relating to the entities held for sale are shown below:

12/31/2019

12/31/2018

in millions of euros

Cash and amounts due from central banks Financial assets at fair value through profit or loss

15

564

1

Financial assets at fair value through other comprehensive income

47

159

Securities at amortized cost

26

Loans and receivables due from banks and similar at amortized cost Loans and receivables due from customers at amortized cost

72

150

403

4,930

Current tax assets Deferred tax assets

1

13 97 89 14 90

10 10 12

Accrued income and other assets

Investment property

Property, plant and equipment

6 2

Intangible assets

7

Goodwill

27

NON-CURRENT ASSETS HELD FOR SALE

578

6,167

Debt securities

29

92

Amounts due to banks and similar

161 282

310

Amounts due to customers

4,346

Current tax liabilities Deferred tax liabilities

9

12 28 12

12

Accrued expenses and other liabilities

144

Provisions

58

Subordinated debt

4

4

LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE

528

4,975

5.8

INVESTMENT PROPERTY

Accounting principles In accordance with IAS 40, investment property is property held to earn rent or for capital appreciation, or both. The accounting treatment for investment property is identical to that used for property, plant and equipment for all Group entities except for certain insurance entities, which recognize the property they hold as insurance investments at fair value, with any adjustment to fair value recorded in income. Fair value is calculated using a multi-criteria approach, by capitalizing rent at market rates and through comparisons with market transactions. The fair value of the Group’s investment property is based on regular expert valuations, except in special cases significantly affecting the value of the relevant asset. Investment property leased under an operating lease may have a residual value that will reduce the depreciable amount of the asset. Gains or losses on the disposal of investment property are recognized in income on the “Net income or expenses on other activities” line, with the exception of insurance businesses, which are recognized in “Income from insurance businesses”.

12/31/2019

12/31/2018

Accumulated depreciation and impairment

Accumulated depreciation and impairment

Gross amount

Net amount

Gross amount

Net amount

in millions of euros

Property recognized at historic cost TOTAL INVESTMENT PROPERTY

215

(142)

73 73

254

(158)

96 96

The fair value of investment property is classified in Level 3 of the fair value hierarchy in accordance with IFRS 13.

Investment property held by the insurance subsidiaries is reported with insurance investments (see Note 9). The fair value of investment property came to €112 million at December 31, 2019 ( vs . €143 million at December 31, 2018).

412

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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