ING Direct 2013 Annual Report Download - page 141

The fair values of the non-financial assets carried at fair value were determined as follows:
Methods applied in determining fair values of non-financial assets - Held for sale
2013 Level 1 Level 2 Level 3 Total
Real estate investments 6 6
Property in own use 102 102
108 108
13 OTHER ASSETS
Other assets by type
2013 2012 2011
Net defined benefit assets 1,006 1,590 4,520
Deferred tax assets 1,380 2,244 2,702
Reinsurance and insurance receivables 635 1,763 1,971
Property development and obtained from
foreclosures 945 1,220 1,584
Income tax receivable 597 558 542
Accrued interest and rents 9,988 12,356 14,387
Other accrued assets 961 1,542 2,200
Other 6,057 5,189 3,769
21,569 26,462 31,675
The change in Other assets includes EUR –2,495 million as a result of the classification of ING U.S. as held for sale and EUR 1,251 million as
a result of the classification to continuing operations of ING Japan. Reference is made to Note 59 ‘Other events’.
Disclosures in respect of Net defined benefit assets are provided in Note 44 ‘Pension and other post-employment benefits’ and deferred
tax assets are provided in Note 45 ‘Taxation’.
Reinsurance and insurance receivables
Reinsurance and insurance receivables
2013 2012
Receivables on account of direct insurance from
– policyholders 500 1,083
– intermediaries 51 50
Reinsurance receivables 84 630
635 1,763
The allowance for uncollectable reinsurance and insurance receivables amounts to EUR 62 million as at 31 December 2013 (2012: EUR 50
million). The allowance is deducted from this receivable.
Property development and obtained from foreclosures
Property development and obtained from foreclosures
2013 2012
Property under development 14 163
Property developed 857 927
Property obtained from foreclosures 74 130
945 1,220
Gross carrying amount as at 31December 1,800 2,297
Accumulated impairments as at 31December –855 –1,077
Net carrying value 945 1,220
The total amount of borrowing costs relating to Property development and obtained from foreclosures, capitalised in 2013 is nil
(2012: EUR 2 million).
Accrued interest and rents
Accrued interest and rents includes EUR 4,541 million (2012: EUR 5,491 million) accrued interest on assets measured at amortised cost
under the IAS 39 classification Loans and receivables.
Notes to the consolidated annual accounts of ING Group continued
139ING Group Annual Report 2013
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information