Financial Assets

12 Months Ended

Dec. 31, 2019

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Financial Assets

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 2019		1,102		61		1,163		23
Translation adjustment		3		-		3		1
Investments and advances		12		15		27		2
Disposals and repayments		(489)		(51)		(540)		(14)
Share of profit after tax (i)		72		-		72		-
Dividends received		(35)		-		(35)		-
At 31 December 2019		665		25		690		12

The equivalent disclosure for the prior year is as follows:

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 (i)	60	-	60	-
Dividends received	(48)	-	(48)	-
At 31 December 2018	1,102	61	1,163	23

(i) Share of profit after tax includes €12 million (2018: €12 million) relating to discontinued operations.

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
	2019 €m		2018 €m		2019 €m		2018 €m		2019 €m		2018 €m
Non-current assets		246		711		686		775		932		1,486
Current assets		276		220		389		468		665		688
Non-current liabilities		(164)		(331)		(91)		(115)		(255)		(446)
Current liabilities		(254)		(140)		(423)		(486)		(677)		(626)
Net assets		104		460		561		642		665		1,102

A listing of the principal equity accounted investments is contained on page 264.