32. 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 31.12.2010 31.12.2009
Current assets 18,357 14,140
Non-current assets 375,587 545,498
Current liabilities 3,615 4,781
Non-current liabilities 190,741 261,002
Income 21,316 35,194
Expenses -9,298 -26,719

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. 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 date.

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

in € thousand 31.12.2010 31.12.2009
Current assets 2,115 655
Non-current assets 9,716 10,128
Current liabilities 449 89
Non-current liabilities 7,204 7,200
Income 686 772
Expenses -1,157 -2,294

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