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Groups of assets and liabilities held for sale
 12 Months Ended
Jun. 30, 2020
Groups of Assets and Liabilities Held For Sale [Abstract]  
Groups of assets and liabilities held for sale
32.Groups of assets and liabilities held for sale

 

As mentioned in Note 4., the investments in Israir and Ispro have been reclassified to "Group of assets and liabilities held for sale".

 

The following table shows the main assets and liabilities classified as held for sale:

 

   June 30, 2020   June 30, 2019 
Property, plant and equipment   35,719    6,449 
Intangible assets   1,363    136 
Investments in associates   224    597 
Deferred income tax assets   814    290 
Income tax credits   -    - 
Trade and other receivables   1,849    3,003 
Cash and cash equivalents   1,709    1,023 
Total assets held-for-sale   41,678    11,498 
Trade and other payables   9,926    4,845 
Salaries and social security liabilities   387    - 
Employee benefits   386    290 
Deferred income tax liabilities   1,953    51 
Borrowings   9,560    2,951 
Total liabilities held-for-sale   22,212    8,137 
Total net assets held-for-sale   19,466    3,361 

 

The company obtained a valuation of its investment in Israir for purposes of IRSA's consolidated financial statements as of June 30, 2020 from an outside appraiser. As a result of the appraisal, the management accounted for an impairment of NIS 13 million (Ps. 264 million). This value represents the consideration that the company expects to receive for its stake in Israir as of June 30, 2020.

 

The management updated the valuation of investment properties of Ispro as a result of an appraisal prepared by an outside appraiser. As a result, the management of such company accounted for an impairment of NIS 33 million (Ps. 671 million) due to the outbreak of the Covid-19, a decrease in expected income from lessees, an expected increase in maintenance costs and a decreased in the CPI compared to the prior valuation.