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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Investments in companies accounted for by the equity
Note 7
method
Accounting policies
The consolidated statement of financial position includes the Group’s
Companies accounted for by the equity method are an integral part of
share of the change in the net assets of companies accounted for by
the Group's operations and the Group's share of their net profit or loss
the equity method (associates and joint ventures), as adjusted to is therefore reported as a separate component of recurring operating
comply with Group accounting policies, from the date when significant
income ("Recurring operating income after net income from
influence or joint control is acquired until the date when it is lost.
companies accounted for by the equity method").
Changes in investments in companies accounted for by the equity method
7.1
Changes in investments in companies accounted for by the equity method can be analyzed as follows:
(in millions of euros)
At December 31, 2013
496
Translation adjustment
5
Share of net income
36
Dividends
(33)
Other movements
(1)
966
At December 31, 2014
1,471
Translation adjustment
(23)
Share of net income
44
Dividends
(52)
Other movements
(7)
At December 31, 2015
1,433
The change in this item is mainly due to the use of the equity method to account for Carmila, an associate set up in 2014 (Note 3.2.2).
(1)
Information about associates
7.2
The following table shows key financial indicators for associates.
Shareholders'
Non-current
Net
% interest
Total assets
equity
assets
Net sales income/(loss)
(in millions of euros)
Carmila (France)
42%
4,459
2,270
4,174
260
50
Carrefour SA (Turkey)
46%
959
254
644
1,275
(10)
Provencia SA (France)
50%
391
219
187
788
23
Mestdagh (Belgium)
25%
331
66
94
583
(4)
Ulysse (Tunisia)
25%
178
70
146
368
12
Costasol (Spain)
34%
82
39
59
109
4
Other companies
(1)
724
247
501
1,249
9
All data taken from the latest financial statements available when the Group’s Consolidated Financial Statements were drawn up.
Corresponding to a total of 151 companies, none of which is individually material.
(1)
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