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financial statements 2014

15. Non-current assets held for sale and liabilities associated with non-current assets held for sale

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The composition of the balance under the heading “Non-current assets held for sale” in the accompanying consolidated balance sheets, broken down by the origin of the assets, is as follows:

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Millions of Euros
Non-Current Assets Held-for-Sale and Liabilities Associated
[Breakdown by type of Asset]
2014 2013 2012
Business sale - Assets (*) 924 92 1,536
Other assets from:      
Property, plants and equipment 315 302 168
Buildings for own use 272 270 125
Operating leases 43 32 43
Foreclosures and recoveries 3,330 3,099 3,044
Foreclosures 3,144 2,914 2,877
Recoveries from financial leases 186 185 167
Accrued amortization (**) (74) (49) (47)
Impairment losses (702) (565) (472)
Total Non-Current Assets Held-for-Sale 3,793 2,880 4,229
Business sale agreement - Liabilities - - 387
Of which: discontinued operations - - 318
Liabilities associated with non-current assets held for sale - - 387
(*) As of December 31, 2014, mainly included the investment in CIFH. As of December 31, 2012 this item included the assets of the business sale agreement related to pension business in Latin America during 2012 as it is described in Note 3 (**) Net of accumulated amortization until reclassified as non-current assets held for sale.

The changes in the balances of “Non-current assets available for sale” in 2014, 2013 and 2012 are as follows:

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Millions of Euros


Foreclosed Assets From Own Use Assets
(*)
Other assets
(**)
Total
Non-Current Assets Held-for-Sale
Changes in the year 2014
Notes Foreclosed Assets through Auction Proceeding Recovered Assets from Finance Leases
Cost (1)





Balance at the beginning
2,914 186 253 92 3,445
Additions
783 50 82
916
Contributions from merger transactions
- - -
-
Retirements (sales and other decreases)
(565) (36) (161)
(762)
Transfers, other movements and exchange differences
12 (14) 67 832 897
Balance at the end
3,144 187 241 924 4,495
Impairment (2)





Balance at the beginning
420 45 99 - 565
Additions 49 391 12 4
406
Contributions from merger transactions
- - -
-
Retirements (sales and other decreases)
(140) (7) (51)
(198)
Other movements and exchange differences
(93) 3 19
(71)
Balance at the end
578 53 71 - 702
Balance at the end of Net carrying value (1)-(2)
2,565 134 170 924 3,793
(*) Net of accumulated amortization until reclassified as non-current assets held for sale (**) Business sale agreement (Note 3) Excel Download Excel


Millions of Euros


Foreclosed Assets From Own Use Assets
(*)
Other assets
(**)
Total
Non-Current Assets Held-for-Sale
Changes in the year 2013
Notes Foreclosed Assets through Auction Proceeding Recovered Assets from Finance Leases
Cost (1)
2,877 167 121 1,536 4,702
Balance at the beginning
940 84 69
1,093
Additions
- 1 -
1
Contributions from merger transactions
(569) (58) (117) (1,536) (2,280)
Retirements (sales and other decreases)
(334) (9) 180 92 (72)
Transfers, other movements and exchange differences
2,914 186 253 92 3,445
Balance at the end





Impairment (2)





Balance at the beginning
415 42 15 - 472
Additions 49 569 29 3
602
Contributions from merger transactions
- - -
-
Retirements (sales and other decreases)
(118) (15) (15)
(147)
Other movements and exchange differences
(447) (12) 96
(363)
Balance at the end
420 45 99 - 565
Balance at the end of Net carrying value (1)-(2)
2,494 141 154 92 2,880
(*) Net of accumulated amortization until reclassified as non-current assets held for sale (**) Business sale agreement (Note 3) Excel Download Excel


Millions of Euros


Foreclosed Assets From Own Use Assets
(*)
Other assets
(**)
Total
Non-Current Assets Held-for-Sale
Changes in the year 2012
Notes Foreclosed Assets through Auction Proceeding Recovered Assets from Finance Leases
Cost (1)





Balance at the beginning
2,032 177 100 - 2,309
Additions
1,037 61 99 - 1,196
Contributions from merger transactions
451 29 - - 480
Retirements (sales and other decreases)
(608) (66) (107) - (781)
Transfers, other movements and exchange differences
(36) (33) 30 1,536 1,497
Balance at the end
2,877 167 121 1,536 4,701
Impairment (2)





Balance at the beginning
186 32 17 - 234
Additions 49 500 19 5 - 524
Contributions from merger transactions
124 - - - 124
Retirements (sales and other decreases)
(98) (14) (2) - (114)
Other movements and exchange differences
(296) 5 (5) - (296)
Balance at the end
415 42 15 - 472
Balance at the end of Net carrying value (1)-(2)
2,462 125 106 1,536 4,229
(*) Net of accumulated amortization until reclassified as non-current assets held for sale (**) Business sale agreement (Note 3)
Assets from foreclosures or recoveries

As of December 31, 2014, 2013 and 2012, assets from foreclosures and recoveries, net of impairment losses, by nature of the asset, amounted to €2,330, €2,279 and €2,247 million in assets for residential use; €342, €326 and €317 million in assets for tertiary use (industrial, commercial or office) and €26, €29 and €23 million in assets for agricultural use, respectively.

In December 31, 2014, 2013 and 2012, the average sale time of assets from foreclosures or recoveries was about 2 years.

During the years 2014, 2013 and 2012, some of the sale transactions for these assets were financed by Group companies. The amount of loans to buyers of these assets in those years amounted to €165, €118 and €168 million, respectively; with an average financing of 78% of the sales price.

As of December 31, 2014, 2013 and 2012, the amount of the profits arising from the sale of Group companies financed assets - and therefore not recognized in the consolidated income statement - amounted to €22, €24 and €28 million, respectively.

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