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Note 21 - Non-current assets and disposal groups classified as held for sale | 12 Months Ended
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Dec. 31, 2018
Non-current assets and disposal groups classified as held for sale Abstract |
Non-Current Assets and Disposal Groups Classified as Held for Sale. Breakdowm By Items | 21. Non-current assets and disposal groups held for sale The composition of the balance under the heading “Non-current assets and disposal groups classified as held for sale” in the accompanying consolidated balance sheets, broken down by the origin of the assets, is as follows:
Non-current assets and disposal groups classified as held for sale Breakdown by items (Millions of euros)
|  | 2018 | 2017 | 2016
Foreclosures and recoveries |  | 2,211 | 6,207 | 4,225
Foreclosures (*) |  | 2,135 | 6,047 | 4,057
Recoveries from financial leases |  | 76 | 160 | 168
Other assets from tangible assets |  | 433 | 447 | 1,181
Property, plant and equipment |  | 276 | 447 | 378
Operating leases |  | - | - | 803
Investment properties (*) |  | 158 | - | -
Business sale - Assets (**) |  | 29 | 18,623 | 40
Accrued amortization (***) |  | (44) | (77) | (116)
Impairment losses |  | (628) | (1,348) | (1,727)
Total Non-current assets and disposal groups classified as held for sale |  | 2,001 | 23,853 | 3,603
(*) Corresponds mainly to the agreement with Cerberus to transfer the "Real Estate" business in Spain (see Note 3). (**) Corresponds mainly to the BBVA´s stake in BBVA Chile (see Note 3). (***) Amortiza tion accumulated until related asset reclassified as “non-current assets and disposal groups held for sale” The changes in the balances of “Non-current assets and disposal groups classified as held for sale” in 2018, 2017 and 2016 are as follows:
Non-current assets and disposal groups classified as held for sale Changes in the year 2018 (Millions of euros)
|  | Foreclosed Assets | From Own Use Assets (*) | Other assets (**) | Total
| Notes | Foreclosed Assets through Auction Proceeding | Recovered Assets from Finance Leases
Cost (1) |  |  |  |  |  |
Balance at the beginning |  | 6,047 | 160 | 371 | 18,623 | 25,201
Additions |  | 637 | 55 | 4 | - | 696
Retirements (sales and other decreases) |  | (4,354) | (135) | (227) | (18,594) | (23,310)
Transfers, other movements and exchange differences |  | (195) | (4) | 241 | - | 42
Balance at the end |  | 2,135 | 76 | 389 | 29 | 2,629
Impairment (2) |  |  |  |  |  |
Balance at the beginning |  | 1,102 | 52 | 194 | - | 1,348
Additions | 50 | 195 | 11 | 2 | - | 208
Retirements (sales and other decreases) |  | (793) | (37) | (101) | - | (931)
Other movements and exchange differences |  | (22) | (4) | 29 | - | 3
Balance at the end |  | 482 | 22 | 124 | - | 628
Balance at the end of Net carrying value (1)-(2) |  | 1,653 | 54 | 265 | 29 | 2,001
(*) Net of amortization accumulated until assets were reclassified as non-current assets held for sale (**) The variation corresponds mainly to the BBVA’s stake in BBVA Chile and the agreement with Cerberus to transfer the "Real Estate" business in Spain (see Note 3)
Non-current assets and disposal groups classified as held for sale Changes in the year 2017 (Millions of euros)
|  | Foreclosed Assets | From Own Use Assets (*) | Other assets | Total
| Notes | Foreclosed Assets through Auction Proceeding | Recovered Assets from Finance Leases
Cost (1) |  |  |  |  |  |
Balance at the beginning |  | 4,057 | 168 | 1,065 | 40 | 5,330
Additions |  | 791 | 45 | 1 | - | 837
Retirements (sales and other decreases) |  | (1,037) | (49) | (131) | - | (1,217)
Transfers, other movements and exchange differences |  | 2,236 | (4) | (564) | 18,583 | 20,251
Balance at the end |  | 6,047 | 160 | 371 | 18,623 | 25,201
Impairment (2) |  |  |  |  |  |
Balance at the beginning |  | 1,237 | 47 | 443 | - | 1,727
Additions | 50 | 143 | 14 | 1 | - | 158
Retirements (sales and other decreases) |  | (272) | (7) | (42) | - | (321)
Other movements and exchange differences |  | (6) | (2) | (208) | - | (216)
Balance at the end |  | 1,102 | 52 | 194 | - | 1,348
Balance at the end of Net carrying value (1)-(2) |  | 4,945 | 108 | 177 | 18,623 | 23,853
(*) Net of amortization accumulated until assets were reclassified as non-current assets held for sale (**) The variation corresponds mainly to the BBVA’s stake in BBVA Chile and the agreement with Cerberus to transfer the "Real Estate" business in Spain (see Note 3)
Non-current assets and disposal groups classified as held for sale Changes in the year 2016 (Millions of euros)
|  | Foreclosed Assets | From Own Use Assets (*) | Other assets(**) | Total
| Notes | Foreclosed Assets through Auction Proceeding | Recovered Assets from Finance Leases
Cost (1) |  |  |  |  |  |
Balance at the beginning |  | 3,775 | 216 | 626 | 37 | 4,654
Additions |  | 582 | 57 | 23 | - | 662
Retirements (sales and other decreases) |  | (779) | (77) | (170) | 3 | (1,023)
Transfers, other movements and exchange differences |  | 480 | (28) | 586 | - | 1,037
Balance at the end |  | 4,057 | 168 | 1,065 | 40 | 5,330
Impairment (2) |  |  |  |  |  |
Balance at the beginning |  | 994 | 52 | 240 | - | 1,285
Additions | 50 | 129 | 3 | 5 | - | 136
Retirements (sales and other decreases) |  | (153) | (6) | (33) | - | (192)
Other movements and exchange differences |  | 268 | (2) | 232 | - | 499
Balance at the end |  | 1,237 | 47 | 443 | - | 1,727
Balance at the end of Net carrying value (1)-(2) |  | 2,820 | 121 | 621 | 40 | 3,603
(*) Net of amortization accumulated until assets were reclassified as non-current assets held for sale As indicated in Note 2.2.4, “Non-current assets and disposal groups held for sale” and “liabilities included in disposal groups classified as held for sale” are valued at the lower amount between its fair value less costs to sell and its book value. As of December 31, 2018, practically all of the carrying amount of the assets recorded at fair value on a non-recurring basis coincides with their fair value. Assets from foreclosures or recoveries As of December 31, 2018, 2017 and 2016, assets from foreclosures and recoveries, net of impairment losses, by nature of the asset, amounted to €1,072, €1,924 and €2,326 million in assets for residential use; €182, €491 and €574 million in assets for tertiary use (industrial, commercial or office) and €19, €29 and €41 million in assets for agricultural use, respectively. In December 31, 2018, 2017 and 2016, the average sale time of assets from foreclosures or recoveries was between 2 and 3 years. During the years 2018, 2017 and 2016, some of the sale transact ions for these assets were financed by Group companies. The amount of loans to buyers of these assets in those years amounted to €82, €207 and €219 million, respectively; with an average financing of 50% of the sales price. As of December 31, 2018, 2017 and 2016, the amount of the profits arising from the sale of Group companies financed assets - and therefore not recognized in the consolidated income statement - amounted to €1 in each financial year.

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