back 
Schedules detailing gross values, accumulated depreciation and net values of property, plant and equipment show the following as of 31st December 2007:
| |||||||||
|
Cost |
|
|
|
|
|
||||
|
(in €m) |
Balance at 1st January 2007 |
Exchange differences |
Additions |
Change in consolidation scope(1) |
Reclassi- |
Disposals |
Balance at 31st December 2007 | ||
|
|
|
|
|
|
|
|
| ||
|
Land, leasehold improvements and buildings including buildings on land owned by others |
6,142 |
(49) |
135 |
(49) |
419 |
(126) |
6,472 | ||
|
Technical equipment and machinery |
10,063 |
(314) |
402 |
(59) |
1,355 |
(313) |
11,134 | ||
|
Other equipment, factory and office equipment |
5,067 |
(170) |
203 |
(37) |
(12) |
(1,195) |
3,856 | ||
|
Advance payments relating to plant and equipment as well as construction in progress |
3,618 |
(137) |
1,066 |
(1) |
(2,059) |
(13) |
2,474 | ||
|
Total |
24,890 |
(670) |
1,806 |
(146) |
(297) |
(1,647) |
23,936 | ||
|
|
|
|
|
|
|
|
| ||
|
Depreciation | |||||||||
|
(in €m) |
Balance at 1st January 2007 |
Exchange differences |
Additions |
Change in consolidation scope(1) |
Reclassi- |
Disposals |
Balance at 31st December 2007 | ||
|
|
|
|
|
|
|
|
| ||
|
Land, leasehold improvements and buildings including buildings on land owned by others |
(2,319) |
10 |
(259) |
22 |
34 |
88 |
(2,424) | ||
|
Technical equipment and machinery |
(5,886) |
191 |
(967) |
44 |
122 |
304 |
(6,192) | ||
|
Other equipment, factory and office equipment |
(2,462) |
77 |
(263) |
33 |
68 |
665 |
(1,882) | ||
|
Advance payments relating to plant and equipment as well as construction in progress |
(45) |
1 |
(2) |
0 |
0 |
1 |
(45) | ||
|
Total |
(10,712) |
279 |
(1,491) |
99 |
224 |
1,058 |
(10,543) | ||
|
|
|
|
|
|
|
|
| ||
|
Net book value | |||||||||
|
(in €m) |
Balance at 1st January 2007 |
Exchange differences |
Additions |
Change in consolidation scope(1) |
Reclassi- |
Disposals |
Balance at 31st December 2007 | ||
|
|
|
|
|
|
|
|
| ||
|
Land, leasehold improvements and buildings including buildings on land owned by others |
3,823 |
(39) |
(124) |
(27) |
453 |
(38) |
4,048 | ||
|
Technical equipment and machinery |
4,177 |
(123) |
(565) |
(15) |
1,477 |
(9) |
4,942 | ||
|
Other equipment, factory and office equipment |
2,605 |
(93) |
(60) |
(4) |
56 |
(530) |
1,974 | ||
|
Advance payments relating to plant and equipment as well as construction in progress |
3,573 |
(136) |
1,064 |
(1) |
(2,059) |
(12) |
2,429 | ||
|
Total |
14,178 |
(391) |
315 |
(47) |
(73) |
(589) |
13,393 | ||
Schedules detailing gross values, accumulated depreciation and net values of property, plant and equipment show the following as of 31st December 2006:
| |||||||||||||
|
Cost |
|
|
|
|
|
||||||||
|
(in €m) |
Balance at 1st January 2006 |
Exchange differences |
Additions |
Change in consolidation scope |
Reclassi- |
Disposals |
Balance at 31st December 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 1st January 2006 |
Exchange differences |
Additions |
Change in consolidation scope |
Reclassi- |
Disposals |
Balance at 31st December 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 1st January 2006 |
Exchange differences |
Additions |
Change in consolidation scope |
Reclassi- |
Disposals |
Balance at 31st December 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 | ||||||
The 2006 depreciation of Property, plant and equipment includes impairment charges of €189 million mainly related to Airbus (A380) and Sogerma.
Property, plant and equipment include at 31st December 2007 and 2006, buildings, technical equipment and other equipment accounted for in fixed assets under finance lease agreements for net amounts of €121 million and €140 million, net of accumulated depreciation of €128 million and €399 million. The related depreciation expense for 2007 was €12 million (2006: €35 million; 2005: €31 million). 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 €1,319 million and €1,992 million as of 31st December 2007 and 2006, respectively; related accumulated depreciation is €891 million and €1,509 million. Depreciation expense for 2007 amounts to €105 million (2006: €137 million; 2005: €231 million).
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 31st December 2007 are as follows:
|
(in €m) |
|
|
|
|
|
Not later than 2008 |
84 |
|
Later than 2008 and not later than 2012 |
219 |
|
Later than 2012 |
151 |
|
Total |
454 |
-
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”).
|
(in €m) |
31st December 2007 |
31st December 2006 |
|
|
|
|
|
(i) Net book value of aircraft under operating lease before impairment charge |
600 |
1,216 |
|
Accumulated impairment |
(102) |
(272) |
|
Net book value of aircraft under operating lease |
498 |
944 |
|
(ii) Aircraft under operating lease with the present value of the guarantee being more than 10% |
821 |
1,048 |
|
Total Net Book value of aircraft under operating lease |
1,319 |
1,992 |
For details please refer to Note 29 “Commitments and contingencies”.
