Accounting policy

Non-current assets and disposal groups are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the asset (or disposal group) is available for immediate sale in its present condition. For a sale to be highly probable, management should be committed to a plan to sell the asset (or disposal group), an active program to locate a buyer and complete the plan should be initiated, the asset (or disposal group) should be actively marketed at a price which is reasonable in relation to its current fair value, the sale should be expected to be completed within one year from the date of classification, and actions required to complete the plan should indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

When the Group is committed to a sale plan involving loss of control of a subsidiary, all of the assets and liabilities of that subsidiary are classified as held for sale when the criteria described above are met, regardless of whether the Group will retain a non-controlling interest in its former subsidiary after the sale.

Non-current assets (and disposal groups) classified as held for sale are measured at the lower of their previous carrying amount and their fair value less costs to sell. Any excess of the carrying amount over the fair value less costs to sell is recognized as an impairment loss. Depreciation of such assets is discontinued as from their classification as held for sale. Prior period consolidated statements of financial position are not restated to reflect the new classification of a non-current asset (or disposal groups) as held for sale.

In € million

 

2016

 

2015

 

Acetow

 

Emerging Biochemicals

 

Formulated Resin

 

Cross Linkable Compound

 

Total

 

Solvay Indupa

Operating segment

 

Performance Chemicals

 

Performance Chemicals

 

Advanced Formulations

 

Advanced Materials

 

 

 

Functional Polymers

Tangible assets

 

282

 

205

 

5

 

14

 

506

 

55

Goodwill

 

224

 

22

 

29

 

11

 

286

 

0

Intangible assets

 

95

 

1

 

29

 

0

 

125

 

0

Investments

 

2

 

11

 

0

 

0

 

13

 

8

Inventories

 

73

 

30

 

3

 

8

 

115

 

44

Trade and other receivables (including deferred tax assets)

 

119

 

76

 

2

 

0

 

196

 

62

Cash and cash equivalent

 

0

 

85

 

0

 

0

 

85

 

7

Assets held for sale

 

800

 

429

 

68

 

33

 

1,331

 

177

Non-current liabilities

 

265

 

4

 

10

 

1

 

280

 

3

Trade payables and other liabilities

 

60

 

62

 

1

 

0

 

123

 

271

Liabilities associated with assets held for sale

 

325

 

66

 

10

 

1

 

403

 

275

Net carrying amount of the disposal group

 

474

 

364

 

58

 

32

 

928

 

(98)

Included in other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

Currency translation differences

 

(25)

 

(1)

 

 

 

 

 

(25)

 

(56)

Defined benefit plans

 

(36)

 

(1)

 

 

 

 

 

(36)

 

(3)

Cash flow hedges

 

(1)

 

 

 

 

 

 

 

(1)

 

(3)

Other comprehensive income

 

(61)

 

(1)

 

0

 

0

 

(63)

 

(59)