13. Depreciation/amortisation/impairment losses
Depreciation, amortisation and impairment losses totalling €1,636 million (previous year: €1,351 million) include impairment losses totalling €411 million (previous year: €105 million). Impairments related to the divestment of the cash & carry business in the United Kingdom contributed €172 million to this. In addition, impairment losses include goodwill impairments at METRO Cash & Carry Hungary totalling €50 million and at METRO Cash & Carry Greece totalling €20 million as well as impairments related to the decision to discontinue Media Markt’s operations in China totalling €36 million. Impairments related to the planned disposal of Real’s Eastern European business contributed €31 million to impairment losses. The attribution of depreciation/amortisation/impairment losses in the income statement and the affected asset categories is as follows:
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€ million |
2011 |
2012 |
|
Selling expenses |
1,171 |
1,341 |
|
thereof depreciation/amortisation |
(1,069) |
(1,052) |
|
thereof impairment losses |
(102) |
(289) |
|
General administrative expenses |
167 |
169 |
|
thereof depreciation/amortisation |
(165) |
(156) |
|
thereof impairment losses |
(2) |
(13) |
|
Cost of sales |
12 |
17 |
|
thereof depreciation/amortisation |
(12) |
(17) |
|
thereof impairment losses |
(0) |
(0) |
|
Other operating expenses |
0 |
107 |
|
thereof impairment losses |
(0) |
(107) |
|
Net financial result |
1 |
1 |
|
thereof impairment losses |
(1) |
(1) |
|
|
1,351 |
1,636 |
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|
€ million |
2011 |
2012 | ||||
| ||||||
|
Intangible assets |
174 |
252 | ||||
|
thereof depreciation/amortisation |
(155) |
(164) | ||||
|
thereof impairment losses |
(19) |
(88) | ||||
|
Tangible assets |
1,159 |
1,197 | ||||
|
thereof depreciation/amortisation |
(1,078) |
(1,049) | ||||
|
thereof impairment losses |
(81) |
(149) | ||||
|
Investment properties |
17 |
13 | ||||
|
thereof depreciation/amortisation |
(13) |
(13) | ||||
|
thereof impairment losses |
(4) |
(0) | ||||
|
Financial investments1, 2 |
1 |
1 | ||||
|
thereof impairment losses |
(1) |
(1) | ||||
|
Assets held for sale |
0 |
172 | ||||
|
thereof impairment losses |
(0) |
(172) | ||||
|
|
1,351 |
1,636 | ||||
METRO Cash & Carry accounts for €205 million (previous year: €10 million) of impairment losses, Real for €46 million (previous year: €12 million), Media-Saturn for €71 million (previous year: €23 million), the Real Estate segment for €86 million (previous year: €58 million) and other companies for €2 million (previous year: €2 million).