15 Equity-accounted investments and other equity investments

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CHANGES IN EQUITY-ACCOUNTED INVESTMENTS AND OTHER EQUITY INVESTMENTS IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2012

€ million

 

Equity-accounted invest­ments

 

Other equity invest­ments

 

Total

 

 

 

 

 

 

 

Gross carrying amount at Jan. 1, 2012

 

10,261

 

3,264

 

13,526

Foreign exchange differences

 

–25

 

–3

 

–28

Changes in consolidated Group

 

–12,742

 

–46

 

–12,788

Additions

 

10,812

 

488

 

11,301

Transfers

 

0

 

0

 

Disposals

 

2

 

16

 

17

Changes recognized in profit or loss

 

3,226

 

 

3,226

Dividends

 

–3,925

 

 

–3,925

Other changes recognized in other comprehensive income

 

–243

 

419

 

176

Balance at Dec. 31, 2012

 

7,362

 

4,107

 

11,469

Impairment losses Balance at Jan. 1, 2012

 

12

 

216

 

228

Foreign exchange differences

 

0

 

–1

 

–1

Changes in consolidated Group

 

 

1

 

1

Additions

 

41

 

20

 

62

Transfers

 

 

 

Disposals

 

 

0

 

0

Reversal of impairment losses

 

 

 

Balance at Dec. 31, 2012

 

53

 

236

 

290

Carrying amount at Dec. 31, 2012

 

7,309

 

3,870

 

11,179

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CHANGES IN EQUITY-ACCOUNTED INVESTMENTS AND OTHER EQUITY INVESTMENTS IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2013

€ million

 

Equity-accounted invest­ments

 

Other equity invest­ments

 

Total

 

 

 

 

 

 

 

Gross carrying amount at Jan. 1, 2013

 

7,362

 

4,107

 

11,469

Foreign exchange differences

 

–24

 

–6

 

–30

Changes in consolidated Group

 

–3

 

–259

 

–262

Additions

 

38

 

297

 

335

Transfers

 

27

 

–27

 

0

Disposals

 

3

 

23

 

25

Changes recognized in profit or loss

 

3,612

 

 

3,612

Dividends

 

–2,827

 

 

–2,827

Other changes recognized in other comprehensive income

 

–170

 

88

 

–82

Balance at Dec. 31, 2013

 

8,014

 

4,177

 

12,191

Impairment losses Balance at Jan. 1, 2013

 

53

 

236

 

290

Foreign exchange differences

 

0

 

–1

 

–2

Changes in consolidated Group

 

 

–31

 

–31

Additions

 

26

 

37

 

63

Transfers

 

 

 

Disposals

 

 

3

 

3

Reversal of impairment losses

 

 

0

 

0

Balance at Dec. 31, 2013

 

80

 

237

 

316

Carrying amount at Dec. 31, 2013

 

7,934

 

3,941

 

11,875

Equity-accounted investments include joint ventures in the amount of €7,563 million (previous year: €6,870 million) and associates in the amount of €370 million (previous year: €439 million).

In fiscal year 2012, €12,566 million of the changes in the consolidated Group concerning equity-accounted investments related to the reclassification of the shares of Porsche Holding Stuttgart because of the initial consolidation of that company. The income of €10,716 million from the remeasurement of the existing shares held resulting from discontinuation of equity-method accounting was reported under additions.

Of the other changes recognized in other comprehensive income, €–162 million (previous year: €–245 million) is attributable to joint ventures and €–7 million (previous year: €2 million) to associates. They are mainly the result of foreign exchange differences in the amount of €–136 million (previous year: €–48 million), pension plan remeasurements in the amount of €–9 million (previous year: €–135 million) and losses on the fair value measurement of cash flow hedges in the amount of €–36 million (previous year: €–185 million).