16 – Investments accounted for using the equity method and other financial assets

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Investments accounted for using the equity method (million €)

 

2013

2012

Balance as of January 1

3,459

3,486

Changes in scope of consolidation

Additions

103

44

Disposals

(6)

(6)

Transfers

714

(58)

Exchange differences

(133)

(7)

Balance as of December 31

4,137

3,459

Accumulated valuation allowances

Net carrying amount as of December 31

4,137

3,459

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Other financial assets (million €)

 

2013

2012

Other shareholdings

598

578

Long-term securities

32

35

Other financial assets

630

613

Due to increased business activities, the equity method has been applied to NEL Gastransport GmbH, Kassel, Germany, since 2013. A subsequent capital increase led to additions of €103 million to investments accounted for using the equity method. The loss of control over GASCADE Gastransport GmbH, Kassel, Germany, led to the transition from full consolidation to the equity method. Transfers of €631 million resulted from the measurement of the shareholding at fair value. Transfers in 2012 particularly included earnings and dividend payments from investments accounted for using the equity method.

Additions in 2012 resulted from a capital increase at Lucura Versicherungs AG, Ludwigshafen, Germany, and WINGAS Storage UK Ltd., London, England, as well as from the acquisition of Novolyte Technologies LP, Independence, Ohio.

In 2013, impairments on other shareholdings of €41 million were recognized.