Note 2: Scope of consolidation

Divestments

In 2015, Specialty Chemicals completed the divestment of its Paper Chemicals business, which was accounted for as held for sale in 2014 at year-end. The divestment resulted in a net profit of €31 million, recognized as incidental item.

Assets and liabilities held for sale

 

 

 

 

 

In € millions

 

2014

 

2015

Property, plant and equipment

 

23

 

Intangible assets

 

21

 

Other assets

 

22

 

Total assets

 

66

 

Total non-current liabilities

 

3

 

Total current liabilities

 

8

 

Total liabilities

 

11

 

Acquisitions

In March 2015, we obtained the remaining 50 percent stake in Delesto B.V., which was treated as a consolidated company thereafter.

No acquisition in 2015, individually nor in total, was deemed material in respect of IFRS 3 disclosure requirements.

Discontinued operations

The results and net cash out, both in 2014 and 2015, mainly relate to settlements for previously divested business.

Discontinued operations

 

 

 

 

 

In € millions

 

2014

 

2015

Results related to discontinued operations in previous years

 

13

 

(3)

Tax related to discontinued operations in previous years

 

5

 

9

Profit for the period

 

18

 

6

Cash flows from discontinued operations

 

 

 

 

 

In € millions

 

2014

 

2015

Net cash from operating activities

 

(88)

 

(6)

Net cash from discontinued operations

 

(88)

 

(6)

Material subsidiaries

The consolidated financial statements comprise the assets, liabilities, income and expenses of approximately 370 legal entities. We consider legal entities material when they represent, for at least two subsequent years, more than 5 percent of either revenue or (before incidentals). Material subsidiaries included in the table are 100 percent owned and meet these criteria.

Material subsidiaries

 

 

 

Legal entity

 

Principal place of business/ country of corporation

Akzo Nobel Coatings Inc.

 

United States

Akzo Nobel Pulp and Performance Chemicals AB

 

Sweden

Akzo Nobel Industrial Chemicals B.V.

 

The Netherlands

Akzo Nobel Surface Chemistry LLC

 

United States

Akzo Nobel Ltda

 

Brazil

Operating income

Operating income is defined in accordance with IFRS and includes the relevant incidental items.