Annual report 2019

104

104

16. PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT UNDER CONSTRUCTION

FLOATING AND OTHER CONSTRUCTION EQUIPMENT

LAND AND BUILDINGS

OTHER FIXED ASSETS

TOTAL

Balance as at 1 January 2019 Cost

138,617 - 36,680 101,937

4,759,891 - 2,625,257 2,134,634

35,722 - 27,051

132,368 - 3,823 128,545

5,066,598 - 2,692,811 2,373,787

Accumulated depreciation and impairment charges

Carrying amount

8,671

Movements Investments

429

83,983 24,490 48,969 27,000

4,835

158,343

247,590 24,490

Acquired through business combinations

-

- - -

-

Put into operation

708

- 49,677

-

Reversal of impairment

-

- - -

27,000

Depreciation

- 4,567

- 225,629 - 19,727 - 27,859 13,914 - 74,859

- 4,073

- 234,269 - 19,948 - 28,339

Disposals

- 39 - 51 769

- 182

Other movements

506

- 935 1,046

Currency translation differences

61

15,790 32,314

- 2,751

1,147

108,777

Balance as at 31 December 2019 Cost

143,792 - 44,606 99,186

4,415,127 - 2,355,352 2,059,775

40,806 - 30,988

241,145 - 3,823 237,322

4,840,870 - 2,434,769 2,406,101

Accumulated depreciation and impairment charges

Carrying amount

9,818

PROPERTY, PLANT AND EQUIPMENT UNDER CONSTRUCTION

FLOATING AND OTHER CONSTRUCTION EQUIPMENT

LAND AND BUILDINGS

OTHER FIXED ASSETS

TOTAL

ANNUAL REPORT 2019 – BOSKALIS FINANCIAL STATEMENTS 2019 ANNUAL REPORT 2019 -- BOSKALIS FINANCIAL STATEMENTS 2019 Balance as at 1 January 2018 Cost Carrying amount Movements Investments Put into operation Impairment charges Depreciation Disposals Other movements Currency translation differences Balance as at 31 December 2018 Cost Carrying amount

142,569 - 37,667 104,902

4,571,996 - 2,442,733 2,129,263

29,578 - 21,195

299,338

5,043,481 - 2,505,418 2,538,063

Accumulated depreciation and impairment charges

- 3,823

8,383

295,515

5,995

76,151 274,972 - 136,864 - 223,036 - 11,109

4,001

108,606 - 275,004

194,753

32

- -

-

-

- -

- 136,864 - 231,132 - 16,976

- 4,056 - 5,269

- 4,040

- 198

- 400

178 155

- 179

476

- 66

409

25,436

49

- 106

25,534

- 2,965

5,371

288

- 166,970

- 164,276

138,617 - 36,680 101,937

4,759,891 - 2,625,257 2,134,634

35,722 - 27,051

132,368

5,066,598 - 2,692,811 2,373,787

Accumulated depreciation and impairment charges

- 3,823

8,671

128,545

The Group reviews the (expected) utilization and operational results of the main units of the fleet to determine potential impairments and adjustments of remaining expected useful life and residual value on an annual basis. In 2019 for some units the useful lives were adjusted prospectively. On balance, the impact of these adjustments on net group profit in the reporting period amounts to an expense of merely EUR 3 million, the expected impact on the future four reporting periods amounts to a mere EUR 9 million decrease in expenses. In 2019 the Group reversed impairment charges of EUR 27.0 million (2018: nil) related to the sale of an impaired vessel. The impairment charge recognized in 2018 of EUR 136.9 million mainly related to Offshore Energy vessels. The recoverable amounts were determined based on the highest of its value in use and its fair value less cost to sell. Value in use is calculated using discounted cash flow models. Fair value less cost to sell was determined by external valuators for vessels what will stay in service (fair value