Boskalis Annual Report 2018

101

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 2018 Cost

142,569

4,571,996

29,578 - 21,195

299,338

5,043,481

Accumulated depreciation and impairment charges

- 37,667 - 2,442,733

- 3,823 - 2,505,418

Carrying amount

104,902

2,129,263

8,383

295,515

2,538,063

Movements Investments

5,995

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

4,001

108,606 - 275,004

194,753

Put into operation Impairment charges

32

- -

-

-

- -

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

Depreciation

- 4,056 - 5,269

- 4,040

Disposals

- 198

- 400

Other movements

178 155

- 179

476

- 66

409

Currency translation differences

25,436

49

- 106

25,534

- 2,965

5,371

288

- 166,970

- 164,276

Balance as at 31 December 2018 Cost

138,617

4,759,891

35,722 - 27,051

132,368

5,066,598

Accumulated depreciation and impairment charges

- 36,680 - 2,625,257

- 3,823 - 2,692,811

Carrying amount

101,937

2,134,634

8,671

128,545

2,373,787

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 - 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 charges

- 3,823

Carrying amount

183,695

Movements Investments

257

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

1,470

248,523

354,679 62,521

Acquired through business combinations

12,418

- -

-

Put into operation

-

- 134,145

-

Depreciation

- 4,787

- 4,815

-

- 242,081 - 20,060

Disposals

- 999

- 686

- 669

Other movements

290

5,174

- 4,185

- 1,072

207

Currency translation differences

1,764 8,943

- 102,329 - 58,663

111

- 817

- 101,271

- 8,105

111,820

53,995

Balance as at 31 December 2017 Cost

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

Carrying amount

8,383

295,515

The Group has assessed whether any impairment triggers exist for its property, plant and equipment using internal and external sources of information. As disclosed in the table above and in note 10 ‘impairment charges’, an impairment charge of EUR 136.9 million was recorded, relating to vessels and floating equipment within Offshore Energy in the first half year of 2018. 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 values less cost to sell were determined by external valuators for vessels that will stay in service (fair value hierarchy: level 3). Vessels that will be taken out of service were valued at scrap values. The full impairment charge relates to assets that were valued at fair value less cost to sell, including the charge for assets that are or will be taken out of service.

The Group has not reversed any material impairment charges in 2018 and 2017; in both years the capitalized financing costs of investments recognized amounted to zero.

ANNUAL REPORT 2018 – BOSKALIS A L REP RT 2018 -- BOSKALIS