Aviva 2007 Annual Report Download - page 167
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18 – Interests in, and loans to, joint ventures continued
(d) Additional information
Summarised aggregate financial information on the Group’s interests in its joint ventures is as follows:
2007 2006
£m £m
Income 242 510
Expenses (579) (45)
Share of results before tax (337) 465
Long-term assets 4,317 4,273
Current assets 395 126
Share of total assets 4,712 4,399
Long-term liabilities (1,684) (1,695)
Current liabilities (762) (150)
Share of total liabilities (2,446) (1,845)
Share of net assets 2,266 2,554
The joint ventures have no significant contingent liabilities to which the Group is exposed, nor has the Group any
significant contingent liabilities in relation to its interests in them.
19 – Interests in, and loans to, associates
This note analyses our interests in entities which we do not control but where we have significant influence.
(a) Carrying amount
Equity
Goodwill interests Loans Total
£m £m £m £m
At 1 January 2006 252 622 11 885
Share of results before tax – 48 – 48
Share of tax – (11) – (11)
Share of results after tax – 37 – 37
Amortisation of acquired value of in-force business – (14) – (14)
Share of profit after tax – 23 – 23
Acquisitions and additions 28 10 – 38
Disposals – (26) – (26)
Dividends received – (12) – (12)
Foreign exchange rate movements – (4) – (4)
Other movements and reclassifications as held for sale – – (9) (9)
Movements in carrying amount 28 (9) (9) 10
At 31 December 2006 280 613 2 895
Share of results before tax –51 –51
Share of tax –(4)–(4)
Share of results after tax –47 –47
Amortisation of acquired value of in-force business – (12) – (12)
Share of profit after tax –35 –35
Acquisitions and additions (see below) 26 270 – 296
Disposals – (25) – (25)
Dividends received – (32) – (32)
Foreign exchange rate movements 433 –37
Movements in carrying amount 30 281 – 311
At 31 December 2007 310 894 2 1,206
The loans are interest-bearing but are not secured, and no guarantees were received in respect thereof.
Acquisitions in 2007 comprise 49.75% of Banca Network Investimenti SpA (see note 3(a)(iii)) and interests in three
investment funds managed by Cyrte Investments BV (see note 3(a)(iv)).
Aviva plc
Annual Report and
Accounts 2007
163
Financial
statements