ING Direct 2004 Annual Report Download - page 80
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78 ING Group Annual Report 2004
MOVEMENTS IN PARTICIPATING INTERESTS
Receivables
Other from
participating participating
Associates interests interests
2004 2003 2004 2003 2004 2003
Opening balance 1,751 1,751 1,246 952 170 180
Additions and advances 245 178 206 449 21 4
Changes in the composition of
the group 80 -22 -133 38 -75
Transition to and from
group companies
and investments 651 -78 -487 188
Revaluations 60 149 -29 5
Results from participating interests 109 267
Dividends received -127 -186
Disposals and redemptions -264 -279 -103 -273 -15 -15
Impairments 1
Exchange differences -25 -29 22 -113 1
Closing balance 2,480 1,751 723 1,246 101 170
3 INVESTMENTS
INVESTMENTS PER TYPE
2004 2003
Land and buildings, including
commuted ground rents 9,380 8,994
Shares and convertible debentures 10,456 10,688
Fixed-interest securities 300,417 244,612
Investments for risk of policyholders 77,662 70,552
Other investments 99 157
398,014 335,003
MOVEMENTS IN INVESTMENTS (EXCEPT FOR OTHER INVESTMENTS)
Shares and Investments
Land and convertible Fixed-interest for risk of
buildings debentures interests policyholders
2004 2003 2004 2003 2004 2003 2004 2003
Opening balance 8,994 10,951 10,688 12,278 244,612 209,878 70,552 64,281
Additions and advances 1,251 1,380 5,334 6,088 279,208 326,128 34,468 30,886
Changes in the composition
of the group 409 -2,032 -246 -22 -1,146 740 -405
Transfer from other assets 295
Yield differences -636 -1,439
Revaluations 135 296 695 337
Impairments -41 -17 -9 -56 -44 -142
Disposals and redemptions -1,318 -1,372 -5,909 -7,728 -213,727 -272,643 -29,382 -25,370
Exchange differences -52 -217 -97 -209 -7,850 -18,205 -4,212 -7,754
Other movements 256,236 8,914
Closing balance 9,380 8,994 10,456 10,688 300,417 244,612 77,662 70,552
Non-income-producing investments Investments in connection with the insurance operations with a combined carrying value
of EUR 136 million (2003: EUR 224 million) were non-income-producing for the year ended 31 December 2004.
NOTES TO THE CONSOLIDATED BALANCE SHEET
OF ING GROUP (continued)
2.1
ANNUAL ACCOUNTS