2012 Annual Report - Italcementi Group

Assets
Non-current assets
2. Property, plant and equipment
(in thousands of euro)
Land and
buildings
Quarries
Technical plant
materials and
equipment
Other property,
plant and
equipment
Net carrying amount at Dec. 31, 2011 119,481 29,865 312,053 120,628 582,027
Gross amount 501,732 58,823 2,012,661 175,602 2,748,818
Accumulated depreciation ( 382,251) ( 28,958) ( 1,700,608) ( 54,974) ( 2,166,791)
Net carrying amount at Dec. 31, 2011 119,481 29,865 312,053 120,628 582,027
Additions 41,907 263 46,299 ( 38,665) 49,804
Disposals ( 206) ( 86) ( 229) ( 2,909) ( 3,430)
Depreciation ( 9,537) ( 595) ( 58,012) ( 3,128) ( 71,272)
Impairment losses - - ( 27,373) - ( 27,373)
Reversal of impairment losses and
( 6,310) ( 397) ( 678) - ( 7,385)
reclassifications
Sale of business unit - - ( 2,281) ( 77) ( 2,358)
Merger contribution 23,357 - 20,264 220 43,841
Net carrying amount at Dec. 31, 2012 168,692 29,050 290,043 76,069 563,854
Gross amount 530,334 57,435 2,079,397 133,502 2,800,668
Accumulated depreciation ( 361,642) ( 28,385) ( 1,788,676) ( 57,433) ( 2,236,136)
Net carrying amount at Dec. 31, 2012 168,692 29,050 290,721 76,069 564,532
Total
The additions made during the year refer to the completion of the research and innovation center at the
Kilometro Rosso science park, the completion of the Matera cement plant revamp and the start of work to
revamp the cement plant at Rezzato, and the normal renovation of industrial plant.
On June 30, 2012 the sale of the Pontassieve business unit (Florence) was completed, for which a gain of
13,226 thousand euro was recognized.
During the year impairment losses on plant of 27,373 thousand euro was recognized in relation to the
transformation into grinding centers of the Vibo Valentia and Porto Empedocle cement plants, and to the plan
to stop clinker production at the Trieste, Monselice and Broni plants.
Non-current assets held under finance leases or rental contracts, which come under the IFRS definition of
leases, were carried at 11,985 thousand euro (14,372 thousand euro at December 31, 2011) and concerned
buildings (628 thousand euro), plant and machinery (11,336 thousand euro) and motor vehicles (21 thousand
euro).
The useful life adopted by the company for the main asset categories is as follows:
Civil and industrial buildings
Plant and machinery
Other property, plant and equipment
10 – 33 years
5 – 30 years
5 – 10 years
260