16. Non-current assets held for sale and liabilities associated with non-current assets held for sale

The composition of the balance under the heading “Non-current assets held for sale” and “liabilities associated with non-current assets held for sale” in the accompanying consolidated balance sheets, broken down by the origin of the assets, is as follows:

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Non-Current Assets Held-for-Sale and Liabilities Associated [Breakdown by type of Asset]	Millions of Euros
	2013	2012	2011
Business sale - Assets (*)	92	1,536	-
Of which: discontinued operations	-	1,150	-
Other assets from:
Property, plants and equipment	302	168	195
Buildings for own use	270	125	130
Operating leases	32	43	65
Foreclosures and recoveries	3,099	3,044	2,174
Foreclosures	2,914	2,877	2,032
Recoveries from financial leases	185	167	142
Accrued amortization (**)	(49)	(47)	(59)
Impairment losses	(565)	(472)	(235)
Total Non-Current Assets Held-for-Sale	2,880	4,229	2,075
Business sale - Liabilities	-	387	-
Of which: discontinued operations	-	318	-
Liabilities associated with non-current assets held for sale	-	387	-

(*) As of December 31, 2013 this item included the investment in “Corporación IBV Participaciones Empresariales S.A.”. As of December 31, 2012 this item included the assets of the business sale agreement related to pension business in Latin America as it is describe in Note 3. (**) Net of accumulated amortization until reclassified as non-current assets held for sale.

The changes in the balances of “Non-current assets available for sale” in 2013, 2012 and 2011 are as follows:

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Non-Current Assets Held-for-Sale Changes in the year 2013	Millions of Euros
	Real Estate			Other assets (**)	Total
	Foreclosed Assets		From Own Use Assets (*)
	Foreclosed Assets through Auction Proceeding	Recovered Assets from Finance Leases
Cost (1)
Balance at the beginning	2,877	167	121	1,536	4,702
Additions	940	84	69	-	1,093
Contributions from merger transactions	-	1	-	-	1
Retirements (sales and other decreases)	(569)	(58)	(117)	(1,536)	(2,280)
Transfers, other movements and exchange differences	(334)	(9)	180	92	(72)
Balance at the end	2,914	186	253	92	3,445
Impairment (2)
Balance at the beginning	415	42	15	-	472
Additions	569	29	3	-	602
Contributions from merger transactions	-	-	-	-	-
Retirements (sales and other decreases)	(118)	(15)	(15)	-	(147)
Other movements and exchange differences	(447)	(12)	96	-	(363)
Balance at the end	420	45	99	-	565
Balance at the end of Net carrying value (1)-(2)	2,494	141	154	92	2,880

(*) Net of accumulated amortization until reclassified as non-current assets held for sale (**) Business sale agreement (Note 3) Download Excel

Non-Current Assets Held-for-Sale Changes in the year 2012	Millions of Euros
	Real Estate			Other assets (**)	Total
	Foreclosed Assets		From Own Use Assets (*)
	Foreclosed Assets through Auction Proceeding	Recovered Assets from Finance Leases
Cost (1)
Balance at the beginning	2,032	177	100	-	2,309
Additions	1,037	61	99	-	1,196
Contributions from merger transactions	451	29	-	-	480
Retirements (sales and other decreases)	(608)	(66)	(107)	-	(781)
Transfers, other movements and exchange differences	(36)	(33)	30	1,536	1,497
Balance at the end	2,877	167	121	1,536	4,701
Impairment (2)
Balance at the beginning	186	32	17	-	234
Additions	500	19	5	-	524
Contributions from merger transactions	124	-	-	-	124
Retirements (sales and other decreases)	(98)	(14)	(2)	-	(114)
Transfers, other movements and exchange differences	(296)	5	(5)	-	(296)
Balance at the end	415	42	15	-	472
Balance at the end of Net carrying value (1)-(2)	2,462	125	106	1,536	4,229

(*) Net of accumulated amortization until reclassified as non-current assets held for sale

(**) Business sale agreement (Note 3)

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Non-Current Assets Held-for-Sale Changes in the year 2011	Millions of Euros
	Foreclosed Assets		From Own Use Assets (*)	Total
	Foreclosed Assets through Auction Proceeding	Recovered Assets from Finance Leases
Cost (1)
Balance at the beginning	1,427	86	173	1,686
Additions	1,313	91	99	1,503
Contributions from merger transactions	8	-	-	8
Retirements (sales and other decreases)	(662)	(31)	(140)	(833)
Transfers, other movements and exchange differences	(54)	31	(32)	(54)
Balance at the end	2,032	177	100	2,309
Impairment (2)
Balance at the beginning	122	16	20	157
Additions	373	21	4	397
Retirements (sales and other decreases)	(89)	(5)	(1)	(95)
Other movements and exchange differences	(220)	(0)	(5)	(225)
Balance at the end	186	32	17	235
Balance at the end of Net carrying value (1)-(2)	1,847	145	83	2,075

(*) Net of accumulated amortization until reclassified as non-current assets held for sale

Non-current assets from foreclosures or recoveries

As of December 31, 2013, 2012 and 2011, the balance under the heading "Non-current assets held for sale - Foreclosures or recoveries" was made up of €2,279 €2,247 and €1,695 million of assets for residential use, €326, €317 and €283 million of assets for tertiary use (industrial, commercial or offices) and €29 million, €23 million and €14 million of assets for agricultural use, respectively.

As of December 31, 2013, 2012 and 2011, the average time to sell of the assets through foreclosures or recoveries was 2 to 3 years.

In 2013, 2012 and 2011, some of the sales of these assets were financed by Group entities. The loans and advances originated to the buyers of these assets in those years was €118 million, €168 million and €163 million, respectively, with an average percentage of financing at 93% of the sales price. As of December 31, 2013, 2012 and 2011, the gains from the sale of assets financed by Group entities (and, therefore, not recognized in the consolidated income statements) were €24 million, €28 million and €30 million, respectively.