17. Financial Assets


	Investments accounted for using the equity method (i.e. joint ventures and associates)
	Share of net assets €m		Loans €m		Total €m		Other €m
At 1 January 2018		1,123		125		1,248		25
Translation adjustment		(18)		(3)		(21)		-
Investments and advances		1		1		2		-
Investment and loan to associate in lieu of cash proceeds		35		50		85		-
Joint ventures becoming subsidiaries (note 32)		(13)		(107)		(120)		-
Disposals and repayments		(39)		(5)		(44)		(2)
Arising on acquisition (note 32)		1		-		1		-
Share of profit after tax		60		-		60		-
Dividends received		(48)		-		(48)		-
At 31 December 2018		1,102		61		1,163		23

The equivalent disclosure for the prior year is as follows:

At 1 January 2017		1,152		147		1,299		26
Translation adjustment		(67)		(16)		(83)		(1)
Investments and advances		5		6		11		-
Disposals and repayments		(1)		(12)		(13)		-
Share of profit after tax		65		-		65		-
Dividends received		(31)		-		(31)		-
At 31 December 2017		1,123		125		1,248		25

Summarised financial information for the Group’s investment in joint ventures and associates which are accounted for using the equity method is as follows:


	Joint Ventures				Associates				Total
	2018 €m		2017 €m		2018 €m		2017 €m		2018 €m		2017 €m
Non-current assets		711		752		775		754		1,486		1,506
Current assets		220		209		468		492		688		701
Non-current liabilities		(331)		(348)		(115)		(73)		(446)		(421)
Current liabilities		(140)		(115)		(486)		(548)		(626)		(663)
Net assets		460		498		642		625		1,102		1,123

A listing of the principal equity accounted investments is contained on page 257.

The Group holds a 21.13% stake (2017: 21.13%) in Samse S.A., a publicly-listed distributor in France which is accounted for as an associate investment above. The fair value of this investment at the balance sheet date, calculated based on the number of shares held multiplied by the closing share price at 31 December 2018 (Level 1 input in the fair value hierarchy), was €96 million (2017: €125 million).