22. Other assets and liabilities

The breakdown of the balance of these headings in the accompanying consolidated balance sheets is as follows:

Other Assets and Liabilities	Millions of Euros
Other Assets and Liabilities	2011	2010	2009
ASSETS-
Inventories	3,994	2,788	1,933
Of which:
Real estate companies	3,813	2,729	1,930
Transactions in transit	86	26	55
Accrued interest	609	538	581
Unaccrued prepaid expenses	443	402	421
Other prepayments and accrued income	166	136	160
Other items	1,801	1,175	1,383
Total	6,490	4,527	3,952
LIABILITIES-
Transactions in transit	44	58	49
Accrued interest	2,252	2,162	2,079
Unpaid accrued expenses	1,529	1,516	1,412
Other accrued expenses and deferred income	723	646	667
Other items	1,964	847	780
Total	4,260	3,067	2,908

The heading “Inventories” includes the net carrying amount of the purchases of land and property that the Group’s property companies hold for sale or for their business. The amounts reflected under this heading include real estate assets purchased by those companies from distressed customers (mainly in Spain), net of their corresponding impairment. As of December 31, 2011, 2010 and 2009, the accumulated valuation adjustment due to impairment losses on these assets amounted to €1,790, €1,088 and €606 million, respectively.

The principal companies in the Group that engage in real estate business activity and make up nearly the entire amount in the "Inventory" heading of the accompanying consolidated balance sheets are as follows: Anida Operaciones Singulares, S.L.; Anida Desarrollos Inmobiliarios, S.A. and Desarrollo Urbanístico Chamartín, S.A.