Holiday Inn 2013 Annual Report Download - page 134

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14. Investment in associates and joint ventures
Associates
$m
Joint ventures
$m
Total
$m
Cost
At 1 January 2012 60 30 90
Reclassification 4(4) –
Additions – 2 2
Transfer to non-current assets classified as held for sale (10) –(10)
Share of profit 3 – 3
Dividends (3) –(3)
Share of reserve movement 5 – 5
At 31 December 2012 59 28 87
Additions 8 2 10
Capital returns –(3) (3)
Share of profit 2–2
Dividends (5) –(5)
Exchange and other adjustments (3) –(3)
At 31 December 2013 61 27 88
Impairment
At 1 January 2012, 31 December 2012 and 31 December 2013 (3) –(3)
Net book value
At 31 December 2013 58 27 85
At 31 December 2012 56 28 84
At 1 January 2012 57 30 87
Associates Joint ventures Total
2013
$m
2012
$m
2011
$m
2013
$m
2012
$m
2011
$m
2013
$m
2012
$m
2011
$m
Share of profit/(loss)
Operating profit/(loss) before exceptional items 23 2 ––(1) 23 1
Exceptional items 6– – –– – 6– –
83 2 ––(1) 83 1
The exceptional profit arose on the sale of a hotel owned by an associate investment that was classified as held for sale at 31 December 2012.
Followingcompletion of the sale, the Group received a $17m cash distribution from the associate, being the Group's share of the net
disposal proceeds.
Associates Joint ventures Total
2013
$m
2012
$m
2011
$m
2013
$m
2012
$m
2011
$m
2013
$m
2012
$m
2011
$m
Related party transactions
Revenue from associates and joint ventures 45 5 –– – 45 5
Amounts owed by associates and joint ventures 22 1 –– – 22 1
Loans from associates and joint ventures ––(2) –– – ––(2)
None of the Group’s investments in associates and joint ventures are individually material.
15. Other financial assets
2013
$m
2012
$m
Equity securities available-for-sale:
Quoted equity shares 918
Unquoted equity shares 127 94
136 112
Loans and receivables:
Trade deposits and loans 20 20
Restricted funds 40 29
Bank accounts pledged as security 52 –
112 49
Total other financial assets 248 161
132 IHG Annual Report and Form 20-F 2013
Notes to the Group Financial Statements continued