F.6. Non-current assets held for sale and discontinued operations
No assets are classified as held for sale as at 31 December 2016 and 2015.
The sale of branch in Poland (see A.1) was completed as at 31 December 2015 and a gain on sale in amount of CZK 56 million has been recognised. As a result, the Polish operations were classified discontinued operations as at 31 December 2015. The following tables show the contribution of discontinued operations to the income statement and cash flow for the period to 31 December 2015. Net result of discontinued operations is presented on the line “Loss after tax from discontinued operation”.
| In CZK million | 2016 | 2015 |
|---|---|---|
| Income Statement | ||
| Net earned premiums revenue | – | 1,754 |
| Interests and other investment income | – | 77 |
| Other income from financial instruments and other investments | – | 18 |
| Net income/loss from financial instruments at fair value through profit or loss | – | (17) |
| Other income | – | 84 |
| Total income | – | 1,916 |
| Net insurance benefits and claims | – | (2,226) |
| Interest and other expenses for financial instruments and other investments | – | (50) |
| Acquisition costs | – | (371) |
| Administration costs | – | (346) |
| Other expenses | – | (166) |
| Total expenses | – | (3,159) |
| Loss before tax | – | (1,243) |
| Gain on disposal of discontinued operations | – | 56 |
| Loss after tax from discontinued operations | – | (1,187) |
Cash flows from/(used in) discontinued operations for the period ended 31 December were the following:
| In CZK million | 2016 | 2015 |
|---|---|---|
| Net cash flows from / (used in) operating activities | – | (1,482) |
| Net cash flows from / (used in) investing activities | – | 1,265 |
| Net cash flows used in financing activities | – | (2) |
| Net cash decrease from discontinued operations | – | (219) |