Annual Report 2012

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
for the year ended 31 December 2012
17 PROPERTY, PLANT AND EQUIPMENT
The Group - by segment
Exploration Marketing Corporate
and and and
production Refining distribution Chemicals others Total
RMB millions RMB millions RMB millions RMB millions RMB millions RMB millions
Cost:
Balance at 1 January 2011 499,802 212,385 127,123 214,946 13,555 1,067,811
Additions 2,464 79 1,664 277 174 4,658
Transferred from construction in progress 50,774 19,337 12,984 4,692 1,845 89,632
Reclassification 2 2,524 100 (2,389) (237) —
Reclassification to lease prepayments and other assets — (57) (2,397) (9) (5) (2,468)
Exchange adjustments (1,372) — (142) — (18) (1,532)
Disposals (1,174) (2,666) (2,545) (2,700) (357) (9,442)
Balance at 31 December 2011 550,496 231,602 136,787 214,817 14,957 1,148,659
Balance at 1 January 2012 550,496 231,602 136,787 214,817 14,957 1,148,659
Additions 3,034 89 996 205 14 4,338
Transferred from construction in progress 58,201 19,615 12,318 6,625 1,024 97,783
Contributed to a jointly controlled entity — (3) — (268) — (271)
Reclassification (410) 5,598 399 (8,035) 2,448 —
Reclassification to lease prepayments and other assets — (51) (8,707) (233) (1,142) (10,133)
Exchange adjustments (69) — — — (3) (72)
Disposals (2,319) (2,588) (1,294) (2,900) (117) (9,218)
Balance at 31 December 2012 608,933 254,262 140,499 210,211 17,181 1,231,086
Accumulated depreciation:
Balance at 1 January 2011 239,032 104,511 39,444 139,332 4,792 527,111
Depreciation charge for the year 35,288 11,356 6,496 8,087 1,028 62,255
Impairment losses for the year (Note 8(i)) 2,153 78 241 308 1 2,781
Reclassification (3) 2,529 4 (2,515) (15) —
Reclassification to lease prepayments and other assets — (2) (328) — — (330)
Exchange adjustments (523) — (61) — (2) (586)
Written back on disposals (1,114) (2,442) (2,034) (2,589) (329) (8,508)
Balance at 31 December 2011 274,833 116,030 43,762 142,623 5,475 582,723
Balance at 1 January 2012 274,833 116,030 43,762 142,623 5,475 582,723
Depreciation charge for the year 39,103 12,119 7,401 8,479 1,078 68,180
Impairment losses for the year (Note 8(i)) 1,006 — 8 — — 1,014
Contributed to a jointly controlled entity — (1) — (218) — (219)
Reclassification 2,815 2,580 (1,005) (5,404) 1,014 —
Reclassification to lease prepayments and other assets — (14) (2,192) (62) — (2,268)
Exchange adjustments (32) — — — — (32)
Written back on disposals (1,938) (1,664) (947) (2,623) (109) (7,281)
Balance at 31 December 2012 315,787 129,050 47,027 142,795 7,458 642,117
Net book value:
Balance at 1 January 2011 260,770 107,874 87,679 75,614 8,763 540,700
Balance at 31 December 2011 275,663 115,572 93,025 72,194 9,482 565,936
Balance at 31 December 2012 293,146 125,212 93,472 67,416 9,723 588,969
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CHINA PETROLEUM & CHEMICAL CORPORATION Annual Report 2012
Financial Statements (International)