Integrated Annual Report 2014

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17. Non-current assets (or disposal groups) held for sale

PLN ’000 Dec 31 2014 Dec 31 2013
Upstream segment 1,661 794
Downstream segment 8,774 -
Total 10,435 794
Upstream segment

As at December 31st 2014, two helicopters were classified as non-current assets held for sale. As at December 31st 2013, non-current assets held for sale comprised two residential units with the attached interest in land, which were sold by the Group in H1 2014. Cash proceeds from the sale of the residential units in 2014 amounted to PLN 1,805 thousand and were presented in the statement of cash flows under Sale of property, plant and equipment and other intangible assets.

Downstream segment

As at December 31st 2014, disposal groups comprised the Jasło and Czechowice-Dziedzice Branches, operating as separate, organised parts of business, offering services in the area of maintenance of mechanical and electrical operations and controlling devices, overhaul and repair services, and technical tests and analyses. The Group’s liabilities related to these assets, amounting to PLN 9,088 thousand (see Note 29.1), were recognised in the statement of financial position under Liabilities directly associated with non-current assets (or disposal groups) held for sale. The planned sale of the assets follows from the 2013−2015 Efficiency and Growth Programme.

The Notes to the consolidated financial statements are an integral part of the statements.
(This is a translation of a document originally issued in Polish)