36. Impairment of financial assets and receivables

User Kit

Changes in impairment losses on financial assets in the year ended 31 December 2014	Impairment losses – opening balance	Recognition of impairment losses in the statement of profit or loss	Reversal of impairment losses in the statement of profit or loss	Derecognition of impairment losses (sale, write-off etc.)	Exchange difference	Change in group composition	Other changes in impairment losses ²⁾	Impairment losses – closing balance
Available-for-sale financial instruments	154,899	3,945	-	-	-681	-	-	158,163
Equity instruments	154,899	3,945	-	-	-681	-	-	158,163
Financial assets held to maturity	1,202	-	-	-	33	-	-	1,235
Debt instruments	1,202	-	-	-	33	-	-	1,235
Loans and receivables	24,725	10,242	-	-	86	-	-10,033	25,020
Debt instruments	-	10,144	-	-	-	-	-	10,144
Term deposits with credit institutions	9,797	-	-	-	100	-	-9,897	-
Loans	14,928	98	-	-	-14	-	-136	14,876
Receivables, including insurance receivables	651,579	66,974	-128,024	-4,269	-3,216	13,273	-2,670	593,647
Receivables from direct insurance	597,608	58,748	-94,279	-1,418	-2,616	10,143	-2,285	565,901
Reinsurance receivables	4,619	5,319	-4,938	-	-	21	-	5,021
Other receivables	49,352	2,907	-28,807 ¹⁾	-2,851	-600	3,109	-385	22,725
Reinsurers’ share in technical provisions	4,828	21,88	-9,178	-	1	-	-	17,531
Total	837,233	103,041	-137,202	-4,269	-3,777	13,273	-12,703	795,596

1) including reversal of impairment losses in the amount of PLN 26,275 thousand due to a mortgage loan granted to Metro-Projekt Sp. z o.o. described in point 56.6.
2) this item presents the transfer of impairment losses of PZU Lietuva's assets to assets held for sale due to the transaction described in point 59.9.1. The decreaseof impairment losses was translated at average rate presented in Note 5.3.

36.changes_in_impairment_losses_on_financial_assets-2014_pzu_2014.xlsx

Changes in impairment losses on financial assets in the year ended 31 December 2013	Impairment losses – opening balance	Recognition of impairment losses in the statement of profit or loss	Reversal of impairment losses in the statement of profit or loss	Derecognition of impairment losses (sale, write-off etc.)	Exchange difference	Change in group composition	Impairment losses – closing balance
Available-for-sale financial instruments	164,273	110	-	-9,429	-55	-	154,899
- equity instruments	164,273	110	-	-9,429	-55	-	154,899
Financial assets held to maturity	-	-	-	-	-19	1,221	1,202
- debt instruments	-	-	-	-	-19	1,221	1,202
Loans and receivables	24,582	-	-	-	143	-	24,725
Term deposits with credit institutions	9,657	-	-	-	140	-	9,797
Loans	14,925	-	-	-	3	-	14,928
Receivables, including insurance receivables	606,747	58,572	-11,900	-3,342	-229	1,731	651,579
Receivables from direct insurance	568,127	40,847	-10,111	-2,687	-182	1,614	597,608
Reinsurance receivables	3,959	1,220	-438	-122	-	-	4,619
Other receivables	34,661	16,505	-1,351	-533	-47	117	49,352
Reinsurers’ share in technical provisions	8,037	1,348	-4,557	-	-	-	4,828
Total	803,639	60,030	-16,457	-12,771	-160	2,952	837,233

36.changes_in_impairment_losses_on_financial_assets-2013_pzu_2014.xlsx

Credit quality of financial assets as at 31 December 2014	Carrying amount of assets that are not past due		Carrying amount of past due assets			Carrying amount	Impairment losses		Gross book value
Credit quality of financial assets as at 31 December 2014	impaired	not impaired	up to 3 months	over 3 months and up to 6 months	over 6 months	Carrying amount	individual	group	Gross book value
Financial assets held to maturity	-	19,983,689	-	-	-	19,983,689	1,235	-	19,984,924
Available-for-sale financial instruments	-	2,434,865	-	-	-	2,434,865	-	-	2,434,865
Loans and receivables	193,144	14,501,059	278	-		14,694,481	25,020	-	14,719,501
Debt instruments	193,144	2,797,411	-	-	-	2,990,555	10,144	-	3,000,699
Buy sell-back transactions	-	3,250,173	-	-	-	3,250,173	-	-	3,250,173
Term deposits with credit institutions	-	6,143,503	278	-		6,143,781	-	-	6,143,781
Loans	-	2,309,972	-	-	-	2,309,972	14,876	-	2,324,848
Receivables, including insurance receivables	658,762	2,012,489	142,696	36,282	218,584	3,068,813	62,866	530,781	3,662,460
Receivables from direct insurance	654,682	791,053	133,175	34,199	96,974	1,710,083	35,25	530,651	2,275,984
Reinsurance receivables	98	20,042	6,266	461	1,815	28,682	5,021	-	33,703
Other receivables	3,982	1,201,394	3,255	1,622	119,795 ¹⁾	1,330,048	22,595	130	1,352,773
Reinsurers’ share in technical provisions	79,569	673,546	-	-	-	753,115	17,531	-	770,646
Total	931,475	39,605,648	142,974	36,282	218,584	40,934,963	106,652	530,781	41,572,396

1) including PLN 109,478 thousand due to a mortgage loan to Metro-Projekt sp. z o.o. described in 56.6.

32._entity_generating_cash_flows-1_pzu_2014.xlsx

Credit quality of financial assets as at 31 December 2013	Carrying amount of assets that are not past due		Carrying amount of past due assets			Carrying amount	Impairment losses		Gross book value
Credit quality of financial assets as at 31 December 2013	impaired	not impaired	up to 3 months	over 3 months and up to 6 months	over 6 months	Carrying amount	individual	group	Gross book value
Financial assets held to maturity	-	18,859,902	-	-	-	18,859,902	1,202	-	18,861,104
Available-for-sale financial instruments	-	1,511,157	-	-	-	1,511,157	-	-	1,511,157
Loans and receivables	-	14,401,538	-	-	-	14,401,538	24,725	-	14,141,262
Debt instruments	-	2,088,892	-	-	-	2,088,892	-	-	2,088,892
Buy sell-back transactions	-	3,203,344	-	-	-	3,203,344	-	-	3,203,344
Term deposits with credit institutions	-	7,387,007	-	-	-	7,387,007	9,797	-	7,396,804
Deposits with ceding undertaking	-	87	-	-	-	87	-	-	87
Loans	-	1,722,208	-	-	-	1,722,208	14,928	-	1,737,136
Receivables, including insurance receivables	215,334	2,064,538	148,616	27,267	216,209	2,671,964	90,974	560,605	3,323,543
Receivables from direct insurance	207,110	893,232	145,401	25,953	112,629	1,384,325	37,114	560,494	1,981,933
Reinsurance receivables	1,107	17,692	-	-	29	18,828	4,619	-	23,447
Other receivables	7,117	1,153,614	3,215	1,314	103,551 ¹⁾	1,268,811	49,241	111	1,318,163
Reinsurers’ share in technical provisions	38,870	487,735	-	-	-	526,605	4,828	-	531,433
Total	254,204	37,324,870	148,616	27,267	216,209	37,971,166	121,729	560,605	38,653,500

1) including PLN 83,203 thousand due to a mortgage loan to Metro-Projekt sp. z o.o. described in point 56.6.

36.credit_quality_of_financial_assets-1-2013_pzu_2014.xlsx