3.6 NON-CURRENT FINANCIAL ASSETS
The changes in the year ended 31 December 2017 were as follows:
CHANGES IN 2017 |
NON-CURRENT LOANS TO ASSOCIATES |
RESTRICTED CASH RELATING TO INFRASTRUCTURE PROJECTS AND OTHER FINANCIAL ASSETS |
OTHER LONG-TERM ACCOUNTS RECEIVABLE |
TOTAL |
||
|
||||||
Balance at 01/01/17 |
374 |
249 |
112 |
735 |
||
Additions |
28 |
168 |
15 |
211 |
||
Disposals |
-82 |
-102 |
-10 |
-194 |
||
Transfers and other |
6 |
0 |
58 |
64 |
||
Exchange rate effect |
-14 |
-30 |
-3 |
-47 |
||
Balance at 31/12/17 |
312 |
285 |
172 |
769 |
- “Long-Term Loans to Associates” includes mainly the loan granted to AGS amounting to EUR 175 million; participating loans to associates amounting to EUR 40 million (2016: EUR 38 million) and other ordinary loans to associates totalling EUR 97 million (2016: EUR 85 million).
- “Restricted Cash Relating to Infrastructure Projects and Other Financial Assets” relates primarily to deposits made at toll road concession operators, the use of which is limited to certain purposes established in the concession arrangement, such as payment of future investments, operating expenses or debt servicing. The net changes in this item relate mainly to two projects: LBJ Infrastructure Group, for EUR 22 million, net, and NTE Mobility Partners, for EUR 35 million, net. The Note on Net cash position provides a detail of the main balances and changes recognised under this heading.
- Lastly, “Other Receivables” includes:
- Trade accounts receivable by the Services Division from various public authorities, mainly municipal councils and autonomous community governments, which had been renegotiated at long term, amounting to approximately EUR 21 million (2016: EUR 26 million).
- Other trade receivables, mainly from various public authorities in connection with long-term contracts, amounting to EUR 94 million (31 December 2016: EUR 42 million). The transfers to this line item of EUR 58 million relate to the reclassification of the concession asset M-203 from “Infrastructure Projects” (see Note 3.3), pursuant to the termination of the concession arrangement, as explained in Note 6.5.1.
- Long-term deposits and guarantees amounting to EUR 19 million (December 2016: EUR 7 million).
- Available-for-sale financial assets of EUR 34 million relating to the Services Division. Specifically, this refers to a financial asset belonging to Broadspectrum, corresponding to non-controlling interests in certain companies.
The changes in these items in 2016, for information purposes, were as follows:
CHANGES IN 2015 |
LONG-TERM LOANS TO ASSOCIATES |
RESTRICTED CASH RELATING TO INFRASTRUCTURE PROJECTS AND OTHER FINANCIAL ASSETS |
OTHER LONG-TERM ACCOUNTS RECEIVABLE |
TOTAL |
Balance at 01/01/16 |
411 |
261 |
83 |
755 |
Additions |
52 |
153 |
-2 |
204 |
Disposals |
-27 |
-112 |
-16 |
-154 |
Transfers |
-17 |
-61 |
0 |
-78 |
Changes in the scope of consolidation |
4 |
0 |
41 |
45 |
Exchange rate effect |
-49 |
7 |
8 |
-34 |
Balance at 31/12/16 |
374 |
249 |
112 |
735 |