BPCE_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2017
ACCRUED INCOME AND OTHER ASSETS 5.10
12/31/2017
12/31/2016
in millionsof euros
Collection accounts Prepaid expenses
3,292
5,358
307
311
Accrued income Other accruals
1,121 3,477 8,197
1,760 4,014
Accrued incomeand prepaidexpenses
11,443 22,992
Security deposits paid (1)
20,786
Settlement accounts in debit on securities transactions
353
259
Reinsurers’ share of technical reserves
11,457
9,551 1,902
Other insurance-relatedassets
1,935
Other debtors Otherassets
17,562 52,093 60,290
14,648 49,352 60,795
TOTALACCRUEDINCOMEAND OTHERASSETS
“Securitydepositspaid” includesmargincallspaid in respectof repurchaseagreementsand derivativesfor €11,580 millionas at December 31,2017,comparedwith €13,255 millionat (1) December 31,2016.
NON-CURRENT ASSETS HELD FOR SALE 5.11 AND ASSOCIATED LIABILITIES A non-current asset (or group of assets) is held for sale when its carryingamountis recoveredby its sale. The asset (or group of assets) must be immediately available for sale and it must be highly likely that the salewill be completed within thenext twelvemonths. At December 31, 2017, “Non-current assets held for sale” and “Liabilities associated with non-current assets held for sale” notably include the assets and liabilities of the subsidiary Banco Primus. On July 19, Crédit Foncier signed a sale and purchase agreement setting out the terms of sale of its Portuguese subsidiary Banco Primus. The completion of the sale is subject to the approval of the Portuguese supervisory authorities, for which the deadline is set at March 31, 2018. Pursuantto IFRS 5 “Non-currentassets held for sale and discontinued operations”, Groupe BPCE:
reclassified consolidated assets in separate asset items for ● € 457 million andliability items for € 19 million; adjusted the value of the assets to the lowest of their book value ● and their fair value less costs relating to the sale, leading to a net expense of € 17 million, recorded under “Gains or losses on other assets”. Other non-currentassets and liabilities held for sale mainly concern the Natixisgroup. At December 31, 2016, “Non-current assets held for sale” and “Liabilities associated with non-current assets held for sale” mainly concerned Natixis group companies held for sale (Caspian in the Investment Solutions business line and Ellisphère and IJCOF in the Corporate Data Solution division). They also include a life insurance portfolio and the securities representing these commitments,which are being sold by Natixisgroup.
5
INVESTMENT PROPERTY 5.12
12/31/2017
12/31/2016
Gross carrying amount
Accumulated depreciation and
Gross carrying amount
Accumulated depreciation and
impairment Net amount
impairment Net amount
in millions of euros
Property recognized at fair value (1) Property recognized athistorical cost TOTALINVESTMENTPROPERTY
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1,355
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1,182
1,253
(614)
639
1,393
(595)
798
1,994 1,980 Buildingsincludedin insurancecompanyinvestments.Changesin fair valuegive rise to the symmetricalrecognitionof a deferredprofitsharingreserveequal to 89%of the relatedbaseamounton (1) averageat December 31,2017,comparedto 88%at December 31,2016 (SeeNote 5.18).
The fair valueof investmentproperty cameto € 2,311million at December31, 2017 ( € 2,254million at December31, 2016). The fair value of investmentproperty, whose measurementprinciplesare describedin Note
4.2, is classified in Level 3 of the IFRS 13 fair value
hierarchy.
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Registration document 2017
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