31. 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 the income and expenses of the jointly controlled companies.
During the financial year, assets and liability items and expenses 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 € thousands | 31.12.2009 | 31.12.2008 |
|---|---|---|
| Current assets | 14,140 | 19,299 |
| Non-current assets | 545,498 | 582,583 |
| Current liabilities | 4,781 | 8,673 |
| Non-current liabilities | 261,002 | 278,845 |
| Income | 35,194 | 39,483 |
| Expenses | -26,719 | -24,808 |
Equity-accounted associates
Small property companies in which Deutsche EuroShop indirectly or directly has an interest of 50% are part of the Group. Deutsche EuroShop exercises a controlling influence over these companies together with other shareholders.
The share in these companies’ equity is compared to the net carrying amount and any differences are recognised in income.
During the financial year, the equity-accounted companies posted the following asset and liability items, expenses and income:
| in € thousands | 31.12.2009 | 31.12.2008 |
|---|---|---|
| Current assets | 655 | 388 |
| Non-current assets | 10,128 | 10,655 |
| Current liabilities | 89 | 174 |
| Non-current liabilities | 7,200 | 7,200 |
| Income | 772 | 772 |
| Expenses | -2,294 | -874 |