30. Joint Ventures and equity-accounted associates

Joint Ventures

Joint ventures in which Deutsche EuroShop AG together with third parties has a majority of the voting rights are proportionately included as joint ventures in the consolidated financial statements. For the purposes of proportionate consolidation, the share of the assets which are jointly controlled and the share of liabilities for which Deutsche EuroShop AG is jointly responsible are recognised in the consolidated balance sheet. The income statement includes the share of income and expenses of the jointly controlled companies.

During the financial year, assets and liability items and income of the subsidiaries defined as joint ventures in line with IAS 31.56 were recognised in the consolidated financial statements as follows:

in € thousand 31.12.2011 31.12.2010
Non-current assets 510,701 375,587
Current assets 9,065 18,357
Non-current liabilities 1 49,874 1 90,741
Current liabilities 46,479 3,615
Income 30,024 21,316
Expenses -16,315 -9,298

Equity-accounted associates

Small property companies in which Deutsche EuroShop indirectly or directly has an interest are part of the Group. Deutsche EuroShop exercises a controlling influence over these companies together with other shareholders. Overall, these companies are not important to the Group.

The share in these companies‘ equity is compared to the net carrying amount and any differences are recognised in income. The share in the profits/losses of these companies is assigned to the domestic segment.

During the financial year, the equity-accounted companies posted the following asset and liability items, expenses and income:

in € thousand 31.12.2011 31.12.2010
Non-current assets 9,811 9,716
Current assets 1,167 2,115
Non-current liabilities 0 7,204
Current liabilities 6,476 449
Income 730 686
Expenses -554 -1,157

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