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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss
→ noTes : noTes To THe BalanCe sHeeT
loans and receivables due within the last 90 days largely
result from standard business payment transactions without
or with short-term payment targets. For non-adjusted loans
and receivables over 90 days overdue, there is no indication
as of the closing date that debtors will not fulfil their payment
obligations. This is also the case for all capitalised financial
instruments that are not overdue and not adjusted for bad debt.
29. Cash and cash equivalents
€ million 31/12/2010 31/12/2011
Cheques and cash on hand 128 147
Bank deposits 4,671 3,208
4,799 3,355
For further details, see the cash flow statement and no. 40
“notes to the cash flow statement”.
30. Assets held for sale/liabilities related to assets
held for sale
In December 2010, MeTRo GRoUp decided to sell its consumer
electronics stores in France to the French investor
High Tech Multicanal Group sa (HTM Group). From the time
of the approval of the sales transaction by the relevant boards
of MeTRo GRoUp, all assets and liabilities of the French consumer
electronics stores were treated as disposal groups in
accordance with IFRs 5 and recognised in the balance sheet
items “assets held for sale” and “liabilities related to assets
held for sale”, respectively. no adjustment of the carrying
amounts of these assets and liabilities held for sale to their
fair values less cost to sell became necessary.
By contractual agreement of 18 December 2010, the French
consumer electronics stores were sold to the HTM Group.
The sale was subject to the suspensive condition of the
approval of the French cartel authorities. This was issued on
10 June 2011. The deconsolidation was effected in the second
quarter of 2011.
→ p. 217
Following the consolidation of all intra-Group circumstances,
the divestment of the French consumer electronics stores
resulted in a reduction of assets held for sale of €117 million
and liabilities related to assets held for sale of €138 million at
the time of the disposal.
The divested assets and liabilities consist of the following
items:
€ million 2010 20111 Assets
Tangible assets 0 8
Financial assets (non-current)
other receivables and assets
1 1
(non-current)
1
1
Inventories 91 71
Trade receivables 7 3
other receivables and assets (current) 67 27
Cash and cash equivalents 29 6
Liabilities
provisions for pensions and
196 117
similar obligations
1
1
Trade liabilities 111 55
other provisions (current) 53 48
other liabilities (current) 28 34
193 138
1 assets and liabilities at the time of disposal (31 December of the previous year)
The sales price for the French consumer electronics stores
amounted to €2 million. The sale resulted in a deconsolidation
gain of €23 million, which is recognised under other
operating income.
The assets and liabilities disposed of in the context of this
divestment reduced segment assets in the Media-saturn segment
by €103 million and segment liabilities by €135 million.