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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, 2019
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 classified as 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 origi n of the assets, is as follows:
Non-current assets and disposal groups classified as held for sale. Breakdown by items (Millions of Euros)
|  | 2019 | 2018 | 2017
Foreclosures and recoveries (*) |  | 1,647 | 2,211 | 6,207
Foreclosures |  | 1,553 | 2,135 | 6,047
Recoveries from financial leases |  | 94 | 76 | 160
Assets from tangible assets |  | 310 | 433 | 447
Business sale - Assets (**) |  | 1,716 | 29 | 18,623
Accrued amortization (***) |  | (51) | (44) | (77)
Impairment losses |  | (543) | (628) | (1,348)
Total non-current assets and disposal groups classified as held for sale |  | 3,079 | 2,001 | 23,853
(*) Corresponds mainly to the agreement with Cerberus to transfer the "Real Estate" business in Spain in 2018 (see Note 3). (**) The 2019 balance corresponds mainly to the BBVA´s stake in BBVA Paraguay and 2017 balance corresponds mainly to the BBVA´s stake in BBVA Chile sold in 2018 (see Note 3). (***) Amortization accumulated until related asset reclassified as “non-current assets and disposal groups classified as held for sal e”. The changes in the balances of “Non-current assets and disposal groups classified as held for sale” in 2019, 2018 and 2017 are as follows:
Non-current assets and disposal groups classified as held for sale. Changes in the year 2019 (Millions of Euros)
|  | Foreclosed assets | From own use assets (*) | Other assets (**) | Total
| Notes | Foreclosed assets through auction proceeding | Recovered assets from financial leases
Cost (1) |  |  |  |  |  |
Balance at the beginning |  | 2,135 | 76 | 389 | 29 | 2,629
Additions |  | 597 | 68 | 10 | 1,676 | 2,351
Contributions from merger transactions |  | 2 | - | - | - | 2
Retirements (sales and other decreases) |  | (967) | (56) | (206) | - | (1,229)
Transfers, other movements and exchange differences |  | (214) | 7 | 65 | 11 | (131)
Balance at the end |  | 1,553 | 95 | 258 | 1,716 | 3,622
Impairment (2) |  |  |  |  |  |
Balance at the beginning |  | 482 | 22 | 124 | - | 628
Additions | 50 | 66 | 6 | 5 | - | 77
Retirements (sales and other decreases) |  | (160) | (4) | (22) | - | (186)
Other movements and exchange differences |  | (5) | 4 | 25 | - | 24
Balance at the end |  | 383 | 28 | 132 | - | 543
Balance at the end of net carrying value (1)-(2) |  | 1,170 | 67 | 126 | 1,716 | 3,079
(*) Net of amortization accumulated until assets were reclassified as non-current assets classified as held for sale. (**) The variation corresponds mainly to the agreement of the sa le of BBVA Paraguay (see Note 3).
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 financial 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 class ified as 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 financial 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 unti l assets were reclassified as non-current assets classified as 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). 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 Dec ember 31, 2019, 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, 2019, 2018 and 2017, assets from foreclosures and recoveries, net of impairment losses, by nature of the asset, amounted to €871, €1,072 and €1,924 million in assets for residential use; €259, €182 and €491 million in assets for tertiary use (industrial, commercial or office) and €28 €19 and €29 million in assets for agricultural use, respectively. In December 31, 2019, 2018 and 2017, the average sale time of assets from foreclosures or recoveries was between 2 and 3 years. During the years 2019, 2018 and 2017, some of the sale transactions for these assets were financed by Group companies. The amount of loans to buyers of these assets in those years amounted to €79, €82 and €207 million, respectively; with an average financing of 27.5% of the sales price during 2019. As of December 31, 2019, 2018 and 2017, 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 million in each financial year.

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