Other notes to the Group’s Financial Statements 1–40
Select note 1–40
- 1 Insurance premiums written
- 2 Net income from investments
- 3 Claims incurred
- 4 Change in liabilities for insurance and investment contracts
- 5 Staff costs
- 6 Other operating expenses
- 7 Result analysis of If
- 8 Earnings per share
- 9 Financial assets and liabilities
- 10 Property, plant and equipment
- 11 Investment property
- 12 Intangible assets
- 13 Investments in associates
- 14 Financial assets
- 15 Fair values
- 16 Determination and hierarchy of fair values
- 17 Movements in level 3 financial instruments measured at fair value
- 18 Sensitivity analysis of level 3 financial instruments measured at fair value
- 19 Investments related to unit-linked insurance contracts
- 20 Deferred tax assets and liabilities
- 21 Taxes
- 22 Components of other comprehensive income
- 23 Tax effects relating to components of other comprehensive income
- 24 Other assets
- 25 Liabilities from insurance and investment contracts
- 26 Liabilities from unit-linked insurance and investment contracts
- 27 Financial liabilities
- 28 Provisions
- 29 Employee benefits
- 30 Other liabilities
- 31 Contingent liabilities and commitments
- 32 Equity and reserves
- 33 Related party disclosures
- 34 Incentive schemes
- 35 Assets and liabilities related to assets held for sale
- 36 Auditors' fees
- 37 Legal proceedings
- 38 Investments in subsidiaries
- 39 Risk management disclosures
- 40 Events after the balance sheet date
The tables for the Financial Statements are also available in Excel format and the complete Financial Statements in Pdf format.
| 11 Investment property | |||||
| EURm | 2017 | 2016 | |||
| At 1 January | |||||
| Cost | 301 | 282 | |||
| Accumulated depreciation | -67 | -63 | |||
| Accumulated impairment losses | -24 | -24 | |||
| Net carrying amount at 1 January | 211 | 195 | |||
| Net carrying amount at 1 January | 211 | 195 | |||
| Business acquisitions | 491 | - | |||
| Transfers to property, plant and equipment | -2 | - | |||
| Additions | 29 | 41 | |||
| Disposals | -67 | -22 | |||
| Depreciation | -4 | -4 | |||
| Impairment losses | -6 | 1 | |||
| Exchange differences | 0 | 0 | |||
| Net carrying amount at 31 December | 653 | 211 | |||
| At 31 December | |||||
| Cost | 753 | 301 | |||
| Accumulated depreciation | -71 | -67 | |||
| Accumulated impairment losses | -29 | -24 | |||
| Net carrying amount at 31 December | 653 | 211 | |||
| Rental income from investment property | 27 | 23 | |||
| Property rented out under operating lease | |||||
| Non-cancellable minimum rental | |||||
| - not later than one year | 33 | 10 | |||
| - later than one year and not later than five years | 45 | 14 | |||
| - later than five years | 24 | 3 | |||
| Total | 102 | 28 | |||
| Expenses arising from investment property | |||||
| - direct operating expenses arising from investment property generating rental income during the period | -13 | -10 | |||
| - direct operating expenses arising from investment property not generating rental income during the period | -4 | -2 | |||
| Total | -17 | -12 | |||
| Fair value of investment property at 31 December | 688 | 243 | |||
| Fair values for the Group's investment property are entirely determined by the Group based on the market evidence. The determination and hierarchy of financial assets and liabilities at fair value is disclosed in note 17. Based on the principles of this determination, the investment property falls under levels 2 and 3. | |||||
| The premises in investment property for different segments are leased on market-based, irrevocable contracts. The lengths of the contracts vary from those for the time being to those for several years. | |||||