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REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
11.- NON-CURRENT ASSETS HELD FOR SALE, LIABILITIES LINKED TO NON-CURRENT
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS
In accordance with IFRS 5, Non-current assets classified as held for sale and discontinued operations (see Note 4.7), the group has classified non-
strategic assets under this heading which, pursuant to the Strategic Plan, are undergoing divestment with committed sales plans.
The assets classified as held for sale, after deducting their liabilities, were measured at the lower of their carrying amount and the expected sales
price minus costs.
In the year 2014, the Group reclassified as discontinued operations Sotogrande, S.A., Donnafugata Resort, S.R.L., Resco Sotogrande, S.L., Sotocaribe,
S.L., Los Alcornoques de Sotogrande S.L., Residencial Marlin, S.L. and Capredo Investments, GmbH, the last four accounted for using the equity
method. These companies represented NH Hotel Group’s entire property business and include the operation of businesses associated with the
hospitality and leisure sectors, including two golf courses and three hotels.
Furthermore, in 2014, the sale was formalised of the Parent Company’s stake in Sotogrande, S.A., representing 96.997% of its share capital (see Note
2.5.4).
As of 31 July 2015, the Group formalised the sale of its affiliate Donnafugata Resort S.r.l., of which it has a 95.26% shareholding (see Note 2.5.4).
At 31 December 2015, only discontinued operations like Sotocaribe, S.L. and Capredo Investments, GmbH, consolidated through shareholding, were
classified.
The sections below detail, by type, the various income and balance sheet items relating to assets and liabilities classified as held for sale and
discontinued operations.
Consolidated balance sheets. Headings of Non-current assets and liabilities classified as held for sale
A movement by balance headings of the assets and liabilities presented under the corresponding Held for Sale headings at 31 December 2015 and
2014 is shown below:
31/12/2013
Transfers
Net Variation
Changes in scope
of consolidation
(see Note 2)
31/12/2014
Property, plant and equipment
-
82,891
(3,440)
(40,668)
38,783
Intangible assets
-
1,920
(68)
(1,837)
15
Investment property
-
957
(61)
(896)
-
Financial assets
-
73,941
(1,259)
(25,694)
46,988
Investments accounted for using the equity method
-
67,617
(1,251)
(19,410)
46,956
Other non-current financial investments
-
6,324
(8)
(6,284)
32
Deferred tax assets
-
8,268
251
(8,226)
293
Inventories
-
71,034
(2,926)
(67,439)
669
Accounts receivable for sales and services and trade receivables
-
12,473
(3,070)
(7,654)
1,749
Tax receivables
-
9,030
(7,687)
(808)
535
Other current financial assets
-
93
68
(161)
-
Cash
-
5,150
2,740
(1,868)
6,022
Other current assets
-
212
57
(130)
139
Non-current assets classified as held for sale
-
265,969
(15,395)
(155,381)
95,193
Bank borrowings (non-current)
-
6,494
(2,672)
(3,822)
-
Obligations under finance lease
-
132
(29)
(103)
-
Other non-current liabilities
-
18,538
(720)
(2,037)
15,781
Capital subsidies
-
18,086
(737)
(1,568)
15,781
Other liabilities
-
452
17
(469)
-
Provisions for contingencies and charges
-
1,411
53
(995)
469
Deferred tax liabilities
-
9,461
(4,717)
(4,458)
286
Bank borrowings (current)
-
41,985
(7,129)
(6,644)
28,212
Trade payables
-
11,704
(2,971)
(5,091)
3,642
Tax receivables
-
804
575
(1,073)
306
Other current liabilities
-
7,031
2,298
(1,950)
7,379
Liabilities associated with assets classified as held for sale
-
97,560
(15,312)
(26,173)
56,075
