BPCE_REGISTRATION_DOCUMENT_2017
5 FINANCIAL REPORT
IFRS Consolidated Financial Statements of BPCE SA group as at December 31, 2017
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 twelve months. 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”, BPCE SA group:
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.
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* Property recognized athistorical cost TOTALINVESTMENTPROPERTY
///
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1,100
///
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947 175
249
(238)
11
406
(231)
1,111 1,122 Buildingsincludedin insurancecompanyinvestments.Changesin fair valuegive rise to the symmetricalrecognitionof a deferredprofitsharingreserveequal to 89%of the relatedbaseamounton * averageat December 31,2017,comparedto 87%at December 31,2016 (SeeNote 5.18).
€ 1,198 million at
The fair value of investment property came to December31, 2017 ( € 1,190 million at December31, 2016).
The fair value of investmentproperty, whose measurementprinciples are described in Note 4.2, is classified in Level 3 of the IFRS 13 fair value hierarchy.
PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS 5.13
12/31/2017
12/31/2016
Gross carrying amount
Accumulated depreciation and
Gross carrying amount
Accumulated depreciation and impairment
impairment Net amount
Net amount
in millions of euros
Property, plant and equipment Land and buildings
530 481
(332) (129)
198 352
683 410
(396) (115)
287 295
Leasedreal estate
Equipment, furniture and other property, plant and equipment
1,558
(997)
561
1,600
(1,072)
528
TOTALPROPERTY, PLANT AND EQUIPMENT
2,569
(1,458)
1,111
2,693
(1,583)
1,110
Intangibleassets Leaseholdrights
65
(23)
42
68
(21)
47
Software
1,971
(1,462)
509 333 884
1,873
(1,384)
489 283 819
Other intangible assets
607
(274)
538
(255)
TOTALINTANGIBLEASSETS
2,643
(1,759)
2,479
(1,660)
408
Registration document 2017
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