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Schedules detailing gross values, accumulated depreciation and net values of property, plant and equipment show the following as of December 31st, 2006:
|
Cost |
|||||||
|
(in €m) |
Balance at January 1, 2006 |
Exchange differences |
Additions |
Change in consolidation scope |
Reclassi- |
Disposals |
Balance at December 31, 2006 |
|
|
|
|
|
|
|
|
|
|
Land, leasehold improvements and buildings including buildings on land owned by others |
5,739 |
(2) |
175 |
1 |
314 |
(85) |
6,142 |
|
Technical equipment and machinery |
8,178 |
(28) |
385 |
17 |
1,653(1) |
(142) |
10,063 |
|
Other equipment, factory and office equipment |
6,238 |
(233) |
315 |
(30) |
(767)(1) |
(456) |
5,067 |
|
Advance payments relating to plant and equipment as well as construction in progress |
3,474 |
27 |
1,404 |
(8) |
(1,259) |
(20) |
3,618 |
|
Total |
23,629 |
(236) |
2,279 |
(20) |
(59) |
(703) |
24,890 |
|
|
|
|
|
|
|
|
|
|
Depreciation | |||||||
|
(in €m) |
Balance at January 1, 2006 |
Exchange differences |
Additions |
Change in consolidation scope |
Reclassi- |
Disposals |
Balance at December 31, 2006 |
|
|
|
|
|
|
|
|
|
|
Land, leasehold improvements and buildings including buildings on land owned by others |
(2,096) |
2 |
(285) |
0 |
(8) |
68 |
(2,319) |
|
Technical equipment and machinery |
(4,568) |
3 |
(869) |
(11) |
(576)(2) |
135 |
(5,886) |
|
Other equipment, factory and office equipment |
(3,104) |
103 |
(289) |
30 |
619(2) |
179 |
(2,462) |
|
Advance payments relating to plant and equipment as well as construction in progress |
(44) |
0 |
0 |
0 |
(1) |
0 |
(45) |
|
Total |
(9,812) |
108 |
(1,443) |
19 |
34 |
382 |
(10,712) |
|
|
|
|
|
|
|
|
|
|
Net book value | |||||||
|
(in €m) |
Balance at January 1, 2006 |
Exchange differences |
Additions |
Change in consolidation scope |
Reclassi- |
Disposals |
Balance at December 31, 2006 |
|
|
|
|
|
|
|
|
|
|
Land, leasehold improvements and buildings including buildings on land owned by others |
3,643 |
0 |
(110) |
1 |
306 |
(17) |
3,823 |
|
Technical equipment and machinery |
3,610 |
(25) |
(484) |
6 |
1,077(3) |
(7) |
4,177 |
|
Other equipment, factory and office equipment |
3,134 |
(130) |
26 |
0 |
(148)(3) |
(277) |
2,605 |
|
Advance payments relating to plant and equipment as well as construction in progress |
3,430 |
27 |
1,404 |
(8) |
(1,260) |
(20) |
3,573 |
|
Total |
13,817 |
(128) |
836 |
(1) |
(25) |
(321) |
14,178 |
|
(1) |
Reclassification of the at cost value from “other equipment, factory and office equipment” to “technical equipment and machinery” to harmonise presentations in the amount of 848 M €. |
|
(2) |
Reclassification of the cumulative depreciation from “other equipment, factory and office equipment” to “technical equipment and machinery” to harmonise presentations in the amount of 587 M €. |
|
(3) |
Reclassification of the net book value from “other equipment, factory and office equipment” to “technical equipment and machinery” to harmonise presentations in the amount of 261 M €. |
Schedules detailing gross values, accumulated depreciation and net values of property, plant and equipment show the following as of December 31st, 2005:
|
Cost |
|||||||||
|
(in €m) |
Balance at December 31, 2004 (as reported) |
Change in accounting policies(1)/ Presentation |
Balance at January 1, 2005 (restated) |
Exchange differences |
Addi- |
Change in conso- |
Reclassi- |
Dis- |
Balance at December 31, 2005 |
|
|
|
|
|
|
|
|
|
|
|
|
Land, leasehold improvements and buildings including buildings on land owned by others |
5,496 |
(172) |
5,324 |
21 |
185 |
(5) |
252 |
(38) |
5,739 |
|
Technical equipment and machinery |
6,682 |
44 |
6,726 |
199 |
632 |
(4) |
666 |
(41) |
8,178 |
|
Other equipment, factory and office equipment |
6,321 |
9 |
6,330 |
390 |
214 |
(8) |
(205) |
(483) |
6,238 |
|
Advance payments relating to plant and equipment as well as construction in progress |
3,236 |
0 |
3,236 |
24 |
1,323 |
0 |
(1,103) |
(6) |
3,474 |
|
Total |
21,735 |
(119) |
21,616 |
634 |
2,354 |
(17) |
(390) |
(568) |
23,629 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation | |||||||||
|
(in €m) |
Balance at December 31, 2004 (as reported) |
Change in accounting policies(1)/ Presentation |
Balance at January 1, 2005 (restated) |
Exchange differences |
Addi- |
Change in conso- |
Reclassi- |
Dis- |
Balance at December 31, 2005 |
|
|
|
|
|
|
|
|
|
|
|
|
Land, leasehold improvements and buildings including buildings on land owned by others |
(1,973) |
87 |
(1,886) |
0 |
(243) |
5 |
18 |
10 |
(2,096) |
|
Technical equipment and machinery |
(3,934) |
0 |
(3,934) |
(82) |
(583) |
4 |
3 |
24 |
(4,568) |
|
Other equipment, factory and office equipment |
(2,879) |
(76) |
(2,955) |
(169) |
(411) |
17 |
143 |
271 |
(3,104) |
|
Advance payments relating to plant and equipment as well as construction in progress |
(44) |
0 |
(44) |
0 |
0 |
0 |
0 |
0 |
(44) |
|
Total |
(8,830) |
11 |
(8,819) |
(251) |
(1,237) |
26 |
164 |
305 |
(9,812) |
|
|
|
|
|
|
|
|
|
|
|
|
Net book value | |||||||||
|
(in €m) |
Balance at December 31, 2004 (as reported) |
Change in accounting policies(1)/ Presentation |
Balance at January 1, 2005 (restated) |
Exchange differences |
Addi- |
Change in conso- |
Reclassi- |
Dis- |
Balance at December 31, 2005 |
|
|
|
|
|
|
|
|
|
|
|
|
Land, leasehold improvements and buildings including buildings on land owned by others |
3,523 |
(85) |
3,438 |
21 |
(58) |
0 |
270 |
(28) |
3,643 |
|
Technical equipment and machinery |
2,748 |
44 |
2,792 |
117 |
49 |
0 |
669 |
(17) |
3,610 |
|
Other equipment, factory and office equipment |
3,442 |
(67) |
3,375 |
221 |
(197) |
9 |
(62) |
(212) |
3,134 |
|
Advance payments relating to plant and equipment as well as construction in progress |
3,192 |
0 |
3,192 |
24 |
1,323 |
0 |
(1,103) |
(6) |
3,430 |
|
Total |
12,905 |
(108) |
12,797 |
383 |
1,117 |
9 |
(226) |
(263) |
13,817 |
|
(1) |
Through the application of the revised IAS 16 “Property, Plant and Equipment” (component approach and asset retirement obligation) the opening balance as of December 31st, 2004 was adjusted retrospectively by an amount of (46) M €. |
|
Due to the adoption of IFRIC 4 “Determining whether an Arrangement contains a Lease” (released 2004), Property, plant and equipment includes a restatement at December 31st, 2004, in the net amount of 97 M €. | |
The 2006 depreciation of Property, plant and equipment includes impairment charges of 189 M € mainly related to Airbus (A380) and Sogerma.
Property, plant and equipment include at December 31st, 2006 and 2005, buildings, technical equipment and other equipment accounted for in fixed assets under finance lease agreements for net amounts of 140 M € and 170 M €, net of accumulated depreciation of 399 M € and 367 M €. The related depreciation expense for 2006 was 35 M € (2005: 31 M €; 2004: 19 M €). For investment property please refer to Note 33 “Investment property”.
Other equipment, factory and office equipment include the net book value of “aircraft under operating lease” for 1,992 M € and 2,381 M € as of December 31st, 2006 and 2005, respectively; related accumulated depreciation is 1,509 M € and 1,653 M €. Depreciation expense for 2006 amounts to 137 M € (2005: 231 M €; 2004: 327 M €).
The “aircraft under operating lease” include:
- i) Group’s sales finance activity in the form of aircraft which have been leased out to customers and are classified as operating leases: They are reported net of the accumulated impairments. These sales financing transactions are generally secured by the underlying aircraft used as collateral (see Note 29 “Commitments and contingencies” for details on sales financing transactions).
The corresponding non-cancellable future operating lease payments (not discounted) due from customers to be included in revenues, at December 31st, 2006 are as follows:
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|
(in €m) |
|
|
|
|
|
not later than 2007 |
148 |
|
later than 2007 and not later than 2011 |
342 |
|
later than 2011 |
155 |
|
Total |
645 |
-
ii) Aircraft which have been accounted as “operating lease” because they were sold under terms that include asset value guarantee commitments with the present value of the guarantee being more than 10% of the aircraft’s sales price (assumed to be the fair value). Upon the initial sale of these aircraft to the customer, their total cost previously recognised in inventory is transferred to “Other equipment, factory and office equipment” and depreciated over its estimated useful economic life, with the proceeds received from the customer being recorded as deferred income (see Note 26 “Deferred income”).
The total net book values of aircraft under operating lease are as follows:
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|
|
December 31, | |
|
(in €m) |
2006 |
2005 |
|
|
|
|
|
(i) Net book value of aircraft under operating lease before impairment charge |
1,216 |
1,493 |
|
Accumulated impairment |
(272) |
(319) |
|
Net book value of aircraft under operating lease |
944 |
1,174 |
|
(ii) Aircraft under operating lease with the present value of the guarantee being more than 10% |
1,048 |
1,207 |
|
Total Net Book value of aircraft under operating lease |
1,992 |
2,381 |
For details please refer to Note 29 “Commitments and contingencies”.
