Download - Ferrovial - Annual Report 2012

Consolidated financial statements at 31 December 2011
Ferrovial S.A. and Subsidiaries
- Additionally, an impairment loss was recognised on for investments in toll roads amounting to EUR 186 million (with an impact
of EUR -137 million on the net profit,) relating essentially to the portfolio of Spanish toll roads and other European toll roads,
due to the negative evolution of traffic in 2010 and the updating of the long-term assumptions for these toll roads.
- Airports Division: the most significant additions relate to the BAA Group, amounting to EUR 1,085 million, of which EUR 958
million related to additions of non-current assets in the course of construction.
9. Property, plant and equipment
“Property, Plant and Equipment” does not include tangible fixed assets assigned to infrastructure projects, which are classified under
“Investments in Infrastructure Projects”.
The changes in the property, plant and equipment in the consolidated statement of financial position were as follows:
CHANGES IN 2011
Land and
buildings
Plant and
machinery
Millions of euros
Other fixtures, tools and
furniture
TOTAL
Investment: 0 0 0 0
Balance at 01/01/11 139 783 573 1,495
Additions 31 31 88 150
Disposals -8 -55 -36 -99
Changes in the scope of consolidation and transfers 26 28 38 92
Exchange rate effect -1 -5 -2 -8
Balance at 31/12/11 187 782 660 1,629
Accumulated depreciation: 0 0 0 1
Balance at 01/01/11 -18 -557 -368 -943
Charge for the year -5 -56 -69 -130
Disposals 3 48 51 102
Changes in the scope of consolidation and transfers -3 -8 -24 -35
Exchange rate effect 0 4 0 4
Balance at 31/12/11 -23 -569 -410 -1,002
Carrying amount at 31/12/11 163 213 250 627
Additions:
The most significant additions in 2011 related to the Services Division, specifically at the Cespa Group in relation to the waste
treatment and collection contract in Murcia, as well as the recognition of other property, plant and equipment in the course of
construction totalling EUR 53 million. Also, Ferrovial Agromán acquired specific construction machinery.
Disposals or reductions:
The disposals arose mainly in the Services Division, specifically at the Cespa Group amounting to EUR 40 million in relation to obsolete
or fully depreciated assets; EUR 20 million at Amey, of which EUR 14 million relate to the sale of machinery to a third party; and
approximately EUR 10 million at Ferroser Servicios, S.A.
Changes in the scope of consolidation and transfers:
This line item includes most notably EUR 38 million relating to the value of the assets of the Polish company PNI acquired in 2011 by
the Budimex Group (see Note 1.2.).
Ferrovial, S.A. Consolidated financial statements at 31 December 2011 35