2013 Registration document and annual financial report - page 258

Registration Document 2013
256
Financial Statemements
5
Consolidated Financial Statements And Notes
A. OnboardTrain Services
During the second half of 2010, as part of its strategic refocusing on
hotels, Accor sold Onboard rail catering businesses in France, Austria
and Portugal and part of the Italian business to Newrest through a
joint venture that was 60% owned by Newrest and 40% by Accor.
During the first-half of 2012, the 40% stake in the joint venture and
Accor’s remaining 17% direct interest in the Austrian subsidiary
were sold to Newrest (see note 2.A.1.2). In view of the end of the
contract with the grantor of the concession which took place in
October 2013 and the ongoing liquidation process of the company,
the related assets and liabilities remained classified under “Assets
held for sale” and “Liabilities associated with assets held for sale”
at December 31, 2013.
(in millions of euros)
Dec. 2012
Dec. 2013
Property, plant and equipment and intangible assets
3
0
Other assets
29
24
TOTAL ASSETS CLASSIFIEDAS ASSETS HELD FOR SALE
32
24
Financial debt
-
-
Other liabilities
(23)
(16)
TOTAL LIABILITIES CLASSIFIEDAS LIABILITIES ASSOCIATEDWITHASSETS
CLASSIFIEDAS HELD FOR SALE
(23)
(16)
B. Other assets held for sale
(in millions of euros)
Dec. 2012
Dec. 2013
Disposal group to be sold in Germany
(1)
33
-
Disposal group to be sold in China
(2)
18
21
Disposal group to be sold in Poland
(3)
7
-
TOTAL DISPOSAL GROUPS CLASSIFIEDAS HELD FOR SALE
58
21
Hotels to be sold in France
(4)
20
3
Hotels to be sold in the Netherlands
(5)
-
2
Hotels to be sold in Canada
(6)
12
9
Hotels to be sold in Poland
(3)
12
1
Hotels to be sold in Australia
(7)
11
-
Hotels to be sold in China
(2)
7
-
Other
4
1
NON-CURRENT ASSETS CLASSIFIEDAS HELD FOR SALE
66
16
In accordance with IFRS 5, these assets are reclassified in the statement of financial position under “Assets held for sale” and measured at the lower of their carrying
amount and fair value less costs to sell.
(1) At December 31, 2010, the Group planned to sell one Novotel unit in Germany, carried in the statement of financial position for €33 million at December 31, 2012.
The sale was cancelled in 2013 and the assets are no longer classified as held for sale.
(2) At December 31, 2012, the Group planned to sell seven ibis units in China. Five of these hotels were sold in 2013. At December 31, 2013, the other two ibis units were
classified as held for sale, for an aggregate carrying amount of €12 million.
(3) As of December 31, 2012, the Group had agreed to sell OrbisTransport’s remaining car rental business (carried in the statement of financial position for €7 million)
and the Zakopane Mercure hotel (carried in the statement of financial position for €11 million) along with a €1 million plot of land. OrbisTransport’s car rental business
and the Zakopane Mercure hotel were sold in 2013.
(4) At December 31, 2012, in France 11 hotels had been reclassified as held for sale, for an aggregate carrying amount of €20 million of which €14 million concerned
the Suite Novotel Paris Saint Denis and the Suite Novotel Paris Porte de Montreuil. At December 31, 2013, eight hotels had been sold and a further four hotels were
classified as held for sale, for an aggregate carrying amount of €2 million.
(5) At December 31, 2013, one ibis unit in the Netherlands was classified as held for sale, for a carrying amount of €2 million.
(6) At December 31, 2012, the Novotel Mississauga in Canada was classified as held for sale, for a carrying amount of €12 million. At December 31, 2013 its carrying
amount was €9 million.
(7) At December 31, 2012, the Sebel Mandurah in Australia was classified as held for sale, for a carrying amount of €11 million.The hotel was sold during first-half 2013.
Impairment losses were recorded during 2013 only on the Novotel
Mississauga in Canada and the ibis Dongguan Dongcheng in China.
The write-downs, in the amount of €1.4 million and €0.4 million
respectively, were based on the prices offered by the buyers,
corresponding to fair values determined using Level 2 inputs as
defined in IFRS 13: see note 1.R.
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