175 / 266
175
2014 Registration Document
Consolidated Financial Statements Year ended December 31, 2014
5
Notes to the Consolidated statements
Note 20
Investments in companies accounted for by the equity
method and other non-current financial assets
20.1
INVESTMENTS IN COMPANIES ACCOUNTED FOR BY THE EQUITY METHOD
Changes in this item can be analyzed as follows:
At December 31, 2012
384
Translation adjustment
(29)
Equity in net income
30
Dividends received
(30)
Other
(1)
141
At December 31, 2013
496
Translation adjustment
5
Equity in net income
36
Dividends received
(33)
Other
(2)
966
At December 31, 2014
1,471
(1) The year-on-year change was mainly due to the use of the equity method to account for CarrefourSA following the reorganization of the partnership with Sabanci
Holding in Turkey.
(2) The year-on-year change was mainly due to the first-time consolidation of the Carmila joint venture (see Note 3.1).
20.1.1 JOINT VENTURES
The main financial indicators for the Carmila joint venture are as follows for 2014:
Activity
Real estate
Country
France
Ownership % at December 31, 2014
42.22%
in € million
8.5 months
Revenue (Rental income)
132
Operating income before depreciation and amortisation
101
Net income from continuing operations
15
Total non current assets
3,822
Total current assets
242
Cash and cash equivalent
127
Total non current liabilities
1,628
Total current liabilities
138
Amount of the investment in company accounted for by the equity method
963
Carrefour – Cash dividends received from Carmila
19