2019 Universal registration document and annual financial report - BNP PARIBAS216
4 Consolidated finanCial statements for the year ended 31 deCemBer 2019
4
Notes to the financial statements
Investment property
Land and buildings leased by the Group as lessor under operating leases are recorded in Investment property .
The estimated fair value of investment property accounted for at amortised cost at 31 December 2019 is EUR 719 million, compared with EUR 800 million at 31 December 2018.
Operating leases
Operating leases and investment property transactions are in certain cases subject to agreements providing for the following minimum future payments:
In millions of euros 31 December 2019 31 December 2018
Future minimum lease payments receivable under non-cancellable leases 7,182 6,483
Payments receivable within 1 year 3,064 2,603
Payments receivable after 1 year but within 5 years 4,076 3,852
Payments receivable beyond 5 years 42 28
Future minimum lease payments receivable under non-cancellable leases are payments that the lessee is required to make during the lease term.
Intangible assets
Other intangible assets include leasehold rights, goodwill and trademarks acquired by the Group.
Amortisation and provision
Net depreciation and amortisation expense for the year ended 31 December 2019 was EUR 2.415 million, compared with EUR 1.674 million for the year ended 31 December 2018.
The net increase in impairment on property, plant, equipment and intangible assets taken to the profit and loss account for the year ended 31 December 2019 amounted to EUR 30 million, compared with EUR 2 million for the year ended 31 December of 2018.
5.o GOODWILL
In millions of euros Year to
31 Dec. 2019 Year to
31 Dec. 2018
CARRYING AMOUNT AT START OF PERIOD 8,487 9,571
Acquisitions 55 99
Divestments - -
Impairment recognised during the period (820) (30)
Loss of control of First Hawaiian Inc (note 8.c) - (1,315)
Exchange rate adjustments 97 159
Other movements (2) 3
CARRYING AMOUNT AT END OF PERIOD 7,817 8,487
Gross value 11,608 11,462
Accumulated impairment recognised at the end of period (3,791) (2,975)
