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

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) 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) 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.