Boskalis_Annual Report_2017

97

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 2017 Cost

134,885

4,440,128

56,052 - 39,564 16,488

187,518

4,818,583

- 38,926 - 2,252,202

- 3,823 - 2,334,515

Accumulated depreciation and impairment losses

95,959

2,187,926

183,695

2,484,068

Carrying amount

Movements Investments, including capitalized borrowing cost

257

104,429 50,103 134,145 - 232,479 - 17,706

1,470

248,523

354,679 62,521

12,418

- -

-

Acquired through business combinations

-

- 134,145

-

Put into operation

- 4,787

- 4,815

-

- 242,081 - 20,060

Depreciation

- 999

- 686

- 669

Disposals

290

5,174

- 4,185

- 1,072

207

Other movements

1,764 8,943

- 102,329 - 58,663

111

- 817

- 101,271

Currency translation differences

- 8,105

111,820

53,995

Balance as at 31 December 2017 Cost

142,569

4,571,996

29,578 - 21,195

299,338

5,043,481

- 37,667 - 2,442,733

- 3,823 - 2,505,418

Accumulated depreciation and impairment losses

104,902

2,129,263

8,383

295,515

2,538,063

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 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

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

Accumulated depreciation and impairment losses

- 2,154

Carrying amount

180,592

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 - 3,427

- 119,693

-

- 4,080

- 1,584

- 366,217

Reversal of impairment

-

58

- -

1,305

Depreciation

- 4,453

- 6,322 - 441 6,362 - 1,445

- 268,783 - 5,383 1,988 - 27,934 17,730 - 300,821

Disposals

- 350

- 130

Other movements

- 1,025

501

Reclassified to disposal group Currency translation differences

- 33

-

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

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

Accumulated depreciation and impairment losses

- 3,823

Carrying amount

183,695

The Group reviews the (expected) utilization and operational results of the main units of the fleet to determine potential impairments and adjustments of remaining useful life on an annual basis. In 2017 this resulted in the testing of a limited number of specific units and the recognition of an additional depreciation charge of EUR 2.0 million. Of the impairment charge recognized in 2016 of EUR 366 million which mainly related to Offshore Energy vessels, EUR 115 million related to assets that were valued at fair value less costs to sell (fair value hierarchy: level 3) and was mainly determined by an external valuator and based on scrap values for certain assets that were to be taken out of operation, and EUR 251 million related to assets that were valued at value-in-use. Pre-tax discount rates used in the discounted cash flow models for the useful life of the main vessels vary from 7.0% - 7.6%. Note 4.1 discloses impairments in 2016 recognized at each operational segment.

ANNUAL REPORT 2017 – BOSKALIS A L REP RT 2017 -- BOSKALIS