15. Equity-accounted investments and other equity investments
€ million |
|
Equity-accounted investments |
|
Other equity investments |
|
Total |
||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
||||
Gross carrying amount |
|
15,204 |
|
5,734 |
|
20,937 |
||||
Foreign exchange differences |
|
103 |
|
32 |
|
135 |
||||
Changes in consolidated Group |
|
243 |
|
−425 |
|
−183 |
||||
Additions |
|
615 |
|
2,211 |
|
2,826 |
||||
Transfers |
|
– |
|
– |
|
– |
||||
Disposals |
|
2,007 |
|
332 |
|
2,339 |
||||
Changes recognized in profit or loss |
|
91 |
|
−62 |
|
29 |
||||
Dividends1 |
|
−2,711 |
|
– |
|
−2,711 |
||||
Other changes recognized in other comprehensive income |
|
93 |
|
12 |
|
105 |
||||
Balance at Dec. 31, 2024 |
|
11,630 |
|
7,170 |
|
18,800 |
||||
Impairment losses |
|
2,964 |
|
1,303 |
|
4,267 |
||||
Foreign exchange differences |
|
2 |
|
7 |
|
9 |
||||
Changes in consolidated Group |
|
– |
|
0 |
|
0 |
||||
Additions |
|
414 |
|
350 |
|
764 |
||||
Transfers |
|
– |
|
– |
|
– |
||||
Disposals |
|
2,018 |
|
177 |
|
2,196 |
||||
Reversal of impairment losses |
|
– |
|
44 |
|
44 |
||||
Balance at Dec. 31, 2024 |
|
1,361 |
|
1,439 |
|
2,800 |
||||
Carrying amount at Dec. 31, 2024 |
|
10,269 |
|
5,731 |
|
16,000 |
||||
|
||||||||||
€ million |
|
Equity-accounted investments |
|
Other equity investments |
|
Total |
||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
||||
Gross carrying amount |
|
15,235 |
|
4,538 |
|
19,774 |
||||
Foreign exchange differences |
|
−217 |
|
−48 |
|
−265 |
||||
Changes in consolidated Group |
|
271 |
|
−386 |
|
−114 |
||||
Additions |
|
570 |
|
2,085 |
|
2,655 |
||||
Transfers |
|
– |
|
– |
|
– |
||||
Disposals |
|
– |
|
321 |
|
321 |
||||
Changes recognized in profit or loss |
|
2,243 |
|
−13 |
|
2,230 |
||||
Dividends1 |
|
−2,511 |
|
– |
|
−2,511 |
||||
Other changes recognized in other comprehensive income |
|
−388 |
|
−122 |
|
−510 |
||||
Balance at Dec. 31, 2023 |
|
15,204 |
|
5,734 |
|
20,937 |
||||
Impairment losses |
|
2,567 |
|
1,050 |
|
3,617 |
||||
Foreign exchange differences |
|
−3 |
|
−8 |
|
−12 |
||||
Changes in consolidated Group |
|
−19 |
|
94 |
|
76 |
||||
Additions |
|
523 |
|
304 |
|
826 |
||||
Transfers |
|
– |
|
– |
|
– |
||||
Disposals |
|
27 |
|
96 |
|
124 |
||||
Reversal of impairment losses |
|
76 |
|
40 |
|
116 |
||||
Balance at Dec. 31, 2023 |
|
2,964 |
|
1,303 |
|
4,267 |
||||
Carrying amount at Dec. 31, 2023 |
|
12,239 |
|
4,431 |
|
16,670 |
||||
|
||||||||||
Equity-accounted investments include joint ventures in the amount of €5,698 million (previous year: €7,139 million) and associates in the amount of €4,571 million (previous year: €5,100 million).
Among the additions to other equity investments, the main item was an amount of €1.1 billion for the acquisition of shares of Rivian (previous year: €0.7 billion for the acquisition of shares of XPeng).
Disposals of equity-accounted investments were mainly attributable to Argo AI in an amount of €2.0 billion.
Most of the additions to impairment losses on equity-accounted investments related to the equity investment in the associate Northvolt; they amounted to €0.2 billion (previous year: impairment loss of €0.4 billion on QuantumScape).
Additional disclosures on the equity investments described above can be found in the “Key events” section.
Of the other changes recognized in other comprehensive income, €117 million (previous year: €– 377 million) is attributable to joint ventures and €−24 million (previous year: €−12 million) to associates. They are mainly the result of foreign exchange differences in the amount of €114 million (previous year: €−288 million), pension plan remeasurements in the amount of €6 million (previous year: €−3 million) and fair value measurement of cash flow hedges in the amount of €−26 million (previous year: €−128 million).