Reebok 2012 Annual Report Download - page 235

adidas Group
/
2012 Annual Report
Consolidated Financial Statements
213
2012
/
04.8
/
Notes
/
Notes to the Consolidated Statement of Financial Position
10 Other current assets
Other current assets consist of the following:
Other current assets (€ in millions)
Dec. 31, 2012 Dec. 31, 2011 1)
Prepaid expenses 231 232
Tax receivables other than income taxes 136 151
Sundry 123 88
Other current assets, gross 490 471
Less: accumulated allowances 1 2
Other current assets, net 489 469
1) Restated according to IAS 8, see Note 03.
Prepaid expenses relate mainly to promotion agreements and service
contracts as well as rents.
11 Assets/liabilities classified
as held for sale
At September 30, 2012, 90% of the shares in Immobilieninvest und
Betriebsgesellschaft Herzo-Base GmbH & Co. KG, whose assets and
liabilities were classified as held for sale at December 31, 2011, were
sold for a purchase price of € 14 million.
At December 31, 2012, part of the assets of GEV Grundstücks-
gesellschaft Herzogenaurach mbH & Co. KG, which mainly comprise
land amounting to € 11 million (2011: € 11 million), is still presented as
held for sale following a signed contract of sale, which is still awaiting
certain conditions to be fulfilled that are not in the area of influence of
the adidas Group.
12 Property, plant and equipment
Property, plant and equipment consist of the following:
Property, plant and equipment (€ in millions)
Dec. 31, 2012 Dec. 31, 2011
Land, buildings and leasehold improvements 670 674
Technical equipment and machinery 199 180
Other equipment as well as furniture and fixtures 1,204 1,131
2,073 1,985
Less: accumulated depreciation and impairment
losses 1,167 1,107
906 878
Construction in progress, net 189 85
Property, plant and equipment, net 1,095 963
Depreciation expenses were € 214 million and € 205 million for the
years ending December 31, 2012 and 2011, respectively
/
SEE NOTE 31.
Impairment losses amounted to € 5 million and € 0 million for the years
ending December 31, 2012 and 2011, respectively
/
SEE NOTE 31. These
are related to assets within other equipment as well as furniture and
fixtures, mainly in the Group’s own-retail activities, for which contrary
to expectations there will be an insufficient flow of future economic
benefits. In 2012, reversals of impairment losses were recorded in an
amount of € 2 million (2011: € 1 million).
The increase in construction in progress mainly relates to the
construction of a new warehouse facility in Germany.
For details see Attachment I to the consolidated financial statements
/
SEE STATEMENT OF MOVEMENTS OF INTANGIBLE AND TANGIBLE ASSETS, P. 238.