Annual Report 2002 - Agfa

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MILLION EUROS Land, buildings and infrastructure Machinery and technical equipment Furniture, Construction fixtures and in progress other and advance equipment payments to vendors and contractors Gross carrying amount December 31, 2001 739 2,269 441 35 3,484 Exchange differences (29) (83) (21) (2) (135) Acquisitions 1 - 9 - 10 Capital expenditures 5 43 39 39 126 Retirements (25) (94) (62) (1) (182) Transfers 6 18 (2) (23) (1) Gross carrying amount December 31, 2002 697 2,153 404 48 3,302 Total 12. Property, plant and equipment Accumulated depreciation, write-downs and impairment losses December 31, 2001 465 1,901 337 1 2,704 Exchange differences (15) (72) (17) - (104) Acquisitions - - 5 - 5 Depreciation and write-downs during the year 22 105 47 - 174 Impairment losses recognised 2 10 - - 12 Impairment losses reversed - (9) - (1) (10) Retirements (17) (86) (48) - (151) Transfers 4 - (4) - - Accumulated depreciation, write-downs and impairment losses December 31, 2002 461 1,849 320 - 2,630 Net carrying amount Dec. 31, 2001 274 368 104 34 780 Net carrying amount Dec. 31, 2002 236 304 84 48 672 Exchange differences arise from translating opening and closing values of foreign companies’ figures at the respective exchange rates. Agfa annual report 2002 66
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 12. Property, plant and equipment continued The Group leases buildings, infrastructure and production equipment under a number of finance lease agreements. At the end of the lease term the Group has the option to purchase the leased asset at a beneficial price. As of December 31, 2002 the net carrying amount of fixed assets held under finance leases amounted to 15 million Euros (2001: 18 million Euros). The leased assets secure lease obligations (note 19). Lease payments do not include contingent rent. The Group, as lessor, included assets subject to operating leases in its balance sheet under the caption “Other Equipment”. The depreciation of these assets is consistent with the Group’s normal depreciation policy. At the end of December 2002, the assets subject to operating leases have a total net carrying amount of 19 million Euros (2001: 19 million Euros). The future minimum lease income under non-cancellable operating leases is presented in note 23. 13. Investments MILLION EUROS Investments Loans to Investments in other Loans to Other Other Total in subsidiaries affiliated companies other securities loans subsidiaries Associated Other affiliated companies companies companies Gross carrying amount December 31, 2001 10 - 38 1 - 25 11 85 Acquisitions - - - - - 1 1 2 Exchange differences - - - - - (2) - (2) Other additions - - - - - 10 2 12 Retirements - - - - - (6) - (6) Share in result of associated companies - - - - - - - - Transfers (6) - (3) - - 1 (1) (9) Gross carrying amount December 31, 2002 4 - 35 1 - 29 13 82 Accumulated write-downs and impairment losses December 31, 2001 - - 30 - - 6 - 36 Exchange differences - - - - - - - - Write-downs - - - - - 3 - 3 Impairment losses - - 3 - - - - 3 Retirements - - - - - - - - Accumulated write-downs and impairment losses December 31, 2002 - - 33 - - 9 - 42 Net carrying amount December 31, 2001 10 - 8 1 - 19 11 49 Net carrying amount December 31, 2002 4 - 2 1 - 20 13 40 Based on an assessment of its recoverable amount, the carrying amount of the equity investment in Silicon Vision AG was written down in 2002 by 3 million Euros. The impairment loss of 3 million Euros represented the remaining carrying amount of the equity investment in Silicon Vision AG. 67 Agfa annual report 2002
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annual report 2002
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Share of Group Sales 2002 BY BUSINE
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Letter to the shareholders Dear sha
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Board of Management (February 25, 2
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Group Sales 2002 MILLION EUROS Sale
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Key Figures Balance sheet (MILLION
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Page 33 and 34: CORPORATE GOVERNANCE Mr Chaffart re
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Page 93 and 94: Glossary The words explained in thi
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Annual Report 2002 - Agfa

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