ING Direct 2011 Annual Report Download - page 292

1 INVESTMENTS IN WHOLLY OWNED SUBSIDIARIES
Investments in wholly owned subsidiaries
Balance sheet value
2011 2010
ING Bank N.V. 34,345 34,451
ING Verzekeringen N.V. 20,134
ING Insurance Topholding N.V. 23,465
Other 139 9
57,949 54,594
ING Insurance Topholding N.V. was incorporated on 29 March 2011. ING Group transferred ownership of ING Verzekeringen N.V.
to ING Insurance Topholding N.V. on 29 December 2011.
Other includes certain intercompany eliminations between ING Bank N.V., ING Insurance Topholding N.V. and ING Verzekeringen N.V.
Changes in investments in wholly owned subsidiaries
2011 2010
Opening balance 54,594 45,786
Revaluations 1,022 4,514
Result of group companies 5,337 3,004
Capital contribution 1,500
Dividend –3,000 –200
57,953 54,604
Changes in ING Groep N.V. shares
held by group companies –4 –10
Closing balance 57,949 54,594
2 OTHER ASSETS
Other assets
2011 2010
Receivables from group companies 10,716 11,5 02
Other receivables, prepayments and accruals 487 463
11,203 11,9 65
As at 31 December 2011 an amount of EUR 10,448 million (2010: EUR 11,524 million) is expected to be settled after more than one year
from the balance sheet date.
3 EQUITY
Equity
2011 2010
Share capital 919 919
Share premium 16,034 16,034
Non-voting equity securities 3,000 5,000
Share of associates reserve 8,100 6,613
Currency translation reserve –942 –939
Other reserves 22,552 18,277
Equity 49,663 45,904
The Share of associates reserve includes the following components: Reserve for non-distributable retained earnings of associates
ofEUR1,573 million (2010: EUR 907 million) and Revaluation reserve of associates of EUR 6,527 million (2010: EUR 5,706 million).
Notes to the parent company annual
accounts of ING Group
amounts in millions of euros, unless stated otherwise
290 ING Group Annual Report 2011