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21 Assets and liabilities of disposal group classified as held for sale
Autoneum’s US subsidiary UGN Inc. sold its business in Chicago Heights (Illinois), USA, to an affiliate
of Angeles Equity Partners, LLC, headquartered in Los Angeles (California), USA, on February 2,
2016. With this transaction, UGN Inc. adjusted its product portfolio in the USA. The related assets
and liabilities were classified as held for sale as of December 31, 2015.
Autoneum intends to adapt its South American production capacity to demand. The related
assets and liabilities were classified as held for sale as of December 31, 2016. In the reporting
period, an impairment loss of CHF 4.3 million for write-downs of the disposal group to the lower
of its carrying amount and its fair value less cost to sell has been included in line item depreci-
ation, amortization and impairment (refer to note 8, page 88). The impairment loss has been
applied to reduce the carrying amount of tangible assets within the disposal group.
The disposal group consists of the assets and liabilities listed below. Those assets and liabilities
were reclassified to assets of disposal group classified as held for sale and liabilities of disposal
group classified as held for sale at the respective reporting date.
CHF million
31.12.2016 31.12.2015
Tangible assets
0.7
5.6
Other assets
–
0.3
Non-current assets
0.7
5.9
Inventories
0.3
1.1
Trade receivables
0.7
3.8
Other assets
–
0.2
Current assets
0.9
5.1
Assets of disposal group classified as held for sale
1.6
11.0
Other liabilities
–
0.1
Non-current liabilities
–
0.1
Trade payables
0.5
1.9
Other liabilities
0.1
0.1
Current liabilities
0.7
2.0
Liabilities of disposal group classified as held for sale
0.7
2.2
There are no cumulative income or expenses included in other comprehensive income relating to the
assets and liabilities of the disposal group classified as held for sale.
96
Autoneum
Financial Report 2016
Consolidated Financial Statements