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FINANCIAL AND ACCOUNTING INFORMATION
1. 2016 Consolidated Financial Statements
235
SAINT-GOBAIN
- REGISTRATION DOCUMENT 2016
AND OTHER NON-CURRENT ASSETS
INVESTMENTS IN EQUITY-ACCOUNTED COMPANIES
NOTE 6
Changes in investments in equity-accounted companies
6.1
Changes in investments in equity-accounted companies in 2016 and 2015 can be analyzed as follows:
(in € millions)
2016
2015
At January 1
Equity in associates and joint ventures
308
355
Goodwill
11
31
INVESTMENTS IN EQUITY-ACCOUNTED COMPANIES
319
386
Movements during the year
Group share in net income of equity-accounted companies
36
43
Dividends paid
(16)
(14)
Translation adjustments
7
(31)
Transfers, share issues and other movements
3
(1)
Changes in Packaging Sector
0
(2)
Changes in Group structure and acquisitions
27
(62)
TOTAL MOVEMENTS
57
(67)
At December 31
Equity in associates and joint ventures
364
308
Goodwill
12
11
INVESTMENTS IN EQUITY-ACCOUNTED COMPANIES
376
319
The principal financial aggregates of equity-accounted companies are as follows:
(in € millions)
2016
2015
Associates
Joint ventures
Total
Associates
Joint ventures
Total
Net sales
710
673
1,383
713
729
1,442
Net income
26
54
80
17
87
104
Shareholders’ equity
580
401
981
486
368
854
Total assets and liabilities
984
604
1,588
796
531
1,327
Transactions with equity-accounted
6.2
companies - related-parties
conducted by the Group in the normal course of its
businesses with equity-accounted companies and joint
ventures. These transactions are carried out on an arm’s
The consolidated financial statements include transactions
length basis.
The assets and liabilities of equity-accounted companies at
December 31 are as follows:
(in € millions)
Dec. 31, 2016
Dec. 31, 2015
Financial receivables
1
1
Inventories
0
0
Short-term receivables
8
17
Cash and cash equivalents
0
0
Provisions for asset impairment
0
0
Short-term debt
2
2
Cash advances
0
0
follows:
Purchases and sales with equity-accounted companies are as
(in € millions)
2016
2015
Purchases
2
2
Sales
43
54
Transactions with key shareholders
6.3
Some subsidiaries of the Saint-Gobain Group, particularly in
the Building Distribution Sector, carry out commercial
transactions with subsidiaries of the Wendel Group. These
transactions are carried out on an arm’s-length basis.
Other non-current assets
6.4
Investments classified as “available-for-sale” are carried at fair
value. Unrealized gains and losses on these investments are
recognized in equity, unless the investments have suffered a
material or other-than-temporary decline in value, in which
case an impairment loss is recorded in the income statement.