Boskalis_Annual_Report_2016

95

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 2016 Cost

135,342 - 33,967 101,375

4,154,163 - 1,666,050 2,488,113

39,367 - 24,558 14,809

182,746 - 2,154 180,592

4,511,618 - 1,726,729 2,784,889

Accumulated depreciation and impairment losses

Carrying amount

Movements Investments, including capitalized borrowing cost

39

51,521 164,390 115,952 - 357,126 - 258,008 - 4,462 - 3,850 - 26,456 16,605 - 300,187 1,247

7,279

123,244

182,083 164,390

Acquired through business combinations

-

- -

-

Put into operation Impairment losses

3,741

- 119,693

-

- 3,427

- 4,080

- 1,584

- 366,217

-

Reversal of impairment losses

58

- -

1,305

Depreciation

- 4,453

- 6,322

- 268,783

Disposals

- 350

- 441 6,362

- 130

- 5,383

Other movements

- 1,025

501

1,988

Reclassified to disposal group Currency translation differences

- 33

- 1,445

-

- 27,934 17,730 - 300,821

92

268

765

- 5,416

1,679

3,103

Balance as at 31 December 2016 Cost

134,885 - 38,926 95,959

4,440,128 - 2,252,202 2,187,926

56,052 - 39,564 16,488

187,518 - 3,823 183,695

4,818,583 - 2,334,515 2,484,068

Accumulated depreciation and impairment losses

Carrying amount

PROPERTY, PLANT AND EQUIPMENT UNDER CONSTRUCTION

FLOATING AND OTHER CONSTRUCTION EQUIPMENT

LAND AND BUILDINGS

OTHER FIXED ASSETS

TOTAL

Balance as at 1 January 2015 Cost

117,725 - 30,439 87,286

3,870,710 - 1,470,156 2,400,554

37,479 - 24,077 13,402

244,008

4,269,922 - 1,526,034 2,743,888

Accumulated depreciation and impairment losses

- 1,362

Carrying amount

242,646

Movements Investments, including capitalized borrowing cost

1,243

78,268 198,327 - 13,743 - 254,120 - 26,432 - 3,958 - 16,506 125,723 87,559

2,292 4,565

148,572 - 219,550

230,375

Put into operation Impairment losses

16,658

-

-

-

- 790

- 14,533 - 265,836 - 26,701 - 1,936 - 16,701 136,333 41,001

Depreciation

- 3,968

- 7,748 - 263 2,842 - 122 - 159 1,407

- -

Disposals

- 6

Other movements

364 - 73

- 1,184

Reclassified to disposal group Currency translation differences

-

- 129

10,898 - 62,054

14,089

Balance as at 31 December 2015 Cost

135,342 - 33,967 101,375

4,154,163 - 1,666,050 2,488,113

39,367 - 24,558 14,809

182,746

4,511,618 - 1,726,729 2,784,889

Accumulated depreciation and impairment losses

- 2,154

Carrying amount

180,592

The Group has assessed whether any impairment triggers exist for its property, plant and equipment using internal and external sources of information. Reference is made to note 10 ‘Impairment losses’. Of the impairment recognized, EUR 115 million relates to assets that were valued at fair value less costs to sell (fair value hierarchy: level 3) and is mainly determined by an external valuator and scrap values for certain assets that will be put out of operation, and EUR 251 million relates to assets that were valued at value-in- use. Pre-tax discount rates used in the discounted, projected, cash flow models for the useful life of the main vessels vary from 7.0% - 7.6%. If the cash flow projections used in the value-in-use calculations would have been 3% lower subsequent to 2017, the Group would have recognized an additional impairment of EUR 3.8 million. If the estimated discount rates for these assets would have been 1% higher than disclosed

ANNUAL REPORT 2016 – BOSKALIS