The table below shows the carrying amount for each category of Property, plant and equipment as at 31 December.
 Download XLS |
|
|
|
|
General (incl. |
|
|
|
Banking |
Insurance |
eliminations) |
Total |
|
31 December 2007 |
|
|
|
|
|
Land and buildings held for own use |
1,449 |
1,088 |
|
2,537 |
|
Leasehold improvements |
395 |
17 |
|
412 |
|
Equipment |
816 |
59 |
|
875 |
|
Buildings under construction |
55 |
125 |
|
180 |
|
Total |
2,715 |
1,289 |
|
4,004 |
|
|
|
|
|
|
|
31 December 2006 |
|
|
|
|
|
Land and buildings held for own use |
1,439 |
1,080 |
|
2,519 |
|
Leasehold improvements |
282 |
12 |
|
294 |
|
Equipment |
407 |
55 |
|
462 |
|
Buildings under construction |
25 |
222 |
|
247 |
|
Total |
2,153 |
1,369 |
|
3,522 |
|
|
|
|
|
|
|
31 December 2005 |
|
|
|
|
|
Land and buildings held for own use |
1,486 |
1,075 |
|
2,561 |
|
Leasehold improvements |
218 |
10 |
|
228 |
|
Equipment |
308 |
84 |
|
392 |
|
Buildings under construction |
6 |
10 |
|
16 |
|
Total |
2,018 |
1,179 |
|
3,197 |
Changes in Property, plant and equipment
Changes in Property, plant and equipment for the years 2006 and 2007 are shown below.
| Download XLS |
|
|
|
|
|
|
2006 |
|
|
Land and Buildings |
Leasehold |
|
Buildings |
|
|
|
held for |
improve- |
|
under |
|
|
|
own use |
ments |
Equipment |
construction |
Total |
|
|
|
|
|
|
|
|
Acquisition cost as at 1 January |
3,704 |
495 |
1,382 |
16 |
5,597 |
|
Acquisitions/divestments of subsidiaries |
(1) |
9 |
107 |
14 |
129 |
|
Additions |
109 |
138 |
223 |
135 |
605 |
|
Reversal of cost due to disposals |
(32) |
(9) |
(203) |
|
(244) |
|
Transfer from/to investment property |
|
|
|
77 |
77 |
|
Foreign exchange differences |
(7) |
(6) |
(9) |
|
(22) |
|
Other |
1 |
|
7 |
5 |
13 |
|
Acquisition cost as at 31 December |
3,774 |
627 |
1,507 |
247 |
6,155 |
|
|
|
|
|
|
|
|
Accumulated depreciation |
(1,138) |
(267) |
(983) |
|
(2,388) |
|
Acquisitions/divestments of subsidiaries |
|
(4) |
(42) |
|
(46) |
|
Depreciation expense |
(117) |
(53) |
(175) |
|
(345) |
|
Reversal of depreciation due to disposals |
13 |
8 |
163 |
|
184 |
|
Foreign exchange differences |
|
2 |
4 |
|
6 |
|
Other |
|
(18) |
(5) |
|
(23) |
|
Accumulated depreciation |
(1,242) |
(332) |
(1,038) |
|
(2,612) |
|
|
|
|
|
|
|
|
Impairments as at 1 January |
(5) |
|
(7) |
|
(12) |
|
Increase in impairments charged to the income statement |
(4) |
(1) |
|
|
(5) |
|
Reversal of impairments due to disposals |
1 |
1 |
|
|
2 |
|
Other |
(5) |
(1) |
|
|
(6) |
|
Impairments as at 31 December |
(13) |
(1) |
(7) |
|
(21) |
|
|
|
|
|
|
|
|
Property, plant and equipment |
2,519 |
294 |
462 |
247 |
3,522 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2007 |
|
|
|
|
|
|
|
|
Acquisition cost as at 1 January |
3,774 |
627 |
1,507 |
247 |
6,155 |
|
Acquisitions/divestments of subsidiaries |
10 |
10 |
15 |
|
35 |
|
Additions |
171 |
170 |
669 |
83 |
1,093 |
|
Reversal of cost due to disposals |
(87) |
(20) |
(225) |
|
(332) |
|
Transfer from (to) investment property |
(9) |
|
|
(141) |
(150) |
|
Foreign exchange differences |
(1) |
(2) |
(33) |
|
(36) |
|
Other |
3 |
(1) |
|
(9) |
(7) |
|
Acquisition cost as at 31 December |
3,861 |
784 |
1,933 |
180 |
6,758 |
|
|
|
|
|
|
|
|
Accumulated depreciation |
(1,242) |
(332) |
(1,038) |
|
(2,612) |
|
Acquisitions/divestments of subsidiaries |
|
|
(2) |
|
(2) |
|
Depreciation expense |
(120) |
(55) |
(177) |
|
(352) |
|
Reversal of depreciation due to disposals |
37 |
14 |
157 |
|
208 |
|
Foreign exchange differences |
|
1 |
3 |
|
4 |
|
Other |
10 |
1 |
|
|
11 |
|
Accumulated depreciation |
(1,315) |
(372) |
(1,057) |
|
(2,744) |
|
|
|
|
|
|
|
|
Impairments as at 1 January |
(13) |
(1) |
(7) |
|
(21) |
|
Divestments of subsidiaries |
|
|
|
|
|
|
Increase of impairments charged to the income statement |
|
|
|
|
|
|
Reversal of impairments credited to the income statement |
|
|
|
|
|
|
Reversal of impairments due to disposals |
4 |
1 |
6 |
|
11 |
|
Other |
|
|
|
|
|
|
Impairments as at 31 December |
(9) |
|
(1) |
|
(10) |
|
|
|
|
|
|
|
|
Property, plant and equipment |
2,537 |
412 |
875 |
180 |
4,004 |
Amounts in Other in Land and Buildings held for own use and Buildings under construction relate primarily to transfers to and from buildings held for sale.
At 31 December 2007, Property, plant and equipment included an amount of EUR 5 million (2006: EUR 2 million; 2005: EUR 1 million) related to capitalised funding costs.
Fair value of Land and buildings held for own use
The fair value of owner-occupied property is set out below.
| Download XLS |
|
|
Banking |
Insurance |
Total |
|
31 December 2007 |
|
|
|
|
Total fair value of Land and buildings held for own use |
1,793 |
1,486 |
3,279 |
|
Total carrying amount |
1,449 |
1,088 |
2,537 |
|
Gross unrealised gain/loss |
344 |
398 |
742 |
|
Taxation |
(110) |
(116) |
(226) |
|
Net unrealised gain/loss (not recognised in equity) |
234 |
282 |
516 |
|
|
|
|
|
|
31 December 2006 |
|
|
|
|
Total fair value of Land and buildings held for own use |
1,810 |
1,632 |
3,442 |
|
Total carrying amount |
1,439 |
1,080 |
2,519 |
|
Gross unrealised gain/loss |
371 |
552 |
923 |
|
Taxation |
(118) |
(173) |
(291) |
|
Net unrealised gain/loss (not recognised in equity) |
253 |
379 |
632 |
The depreciation of buildings is calculated using the straight-line method to write down the cost of such assets to their residual values over their estimated useful lives. The real estate is split into the following components: structure, closing, techniques and equipment, heavy finishing and light finishing.
The maximum useful live of the components is as follows:
| Download XLS |
|
Structure |
50 years for offices and retail;70 years for residential |
|
Closing |
30 years for offices and retail;40 years for residential |
|
Techniques and equipment |
20 years for offices;25 years for retail and 40 years for residential |
|
Heavy finishing |
20 years for offices;25 years for retail and 40 years for residential |
|
Light finishing |
10 years for offices, retail and residential |
Land has an unlimited useful life and is therefore not depreciated. IT, office and equipment are depreciated over their respective useful lives, which have been determined individually. As a general rule, residual values are considered to be zero.