Annual r eport 2002 Annual r eport 2002 - Boskalis

Financial Statements 2002
2. Tangible fixed assets
Land and Floating Other Fixed assets Tangible Total
buildings and other fixed not engaged fixed assets
construction assets in normal under
equipmentl operations construction
Balance as at 1 January 2002
Cost 48,901 976,877 38,701 482 72,081 1,137,042
Depreciation ( 20,505 ) ( 612,546 ) ( 23,996 ) ( 161 ) – ( 657,208 )
Net book value 28,396 364,331 14,705 321 72,081 479,834
Movements
Additions 691 38,890 7,876 4 104,631 152,092
In/(out of) consolidation – 1,759 15 – – 1,774
Taken into service 7,668 67,371 22 – ( 75,061 ) –
Disposals at net book value ( 1 ) ( 6,703 ) ( 5,299 ) – – ( 12,003 )
Depreciation ( 2,876 ) ( 59,132 ) ( 4,624 ) ( 17 ) – ( 66,649 )
Currency fluctuations
& other movements ( 114 ) ( 9,251 ) ( 610 ) ( 27 ) ( 346 ) ( 10,348 )
Total movements in 2002 5,368 32,934 ( 2,620 ) ( 40 ) 29,224 64,866
Balance as at 31 December 2002
Cost 56,552 1,048,523 33,830 452 101,305 1,240,662
Depreciation ( 22,788 ) ( 651,258 ) ( 21,745 ) ( 171 ) – ( 695,962 )
Net book value 33,764 397,265 12,085 281 101,305 544,700
The current value of floating and other construction equipment considerably exceeds the book value,
which is based on historical cost and related depreciation. For land and buildings it is reasonable to
assume that the current value exceeds the net book value to some extent. An amount of € 1.5 million,
representing land used for sand production, has been accounted for under land and buildings (2001:
€ 1.7 million).
3. Associated companies
The key associated companies are:
Bean Meridian Holding LLC, Delaware, United States of America 25%
Bean Excavation LLC, Delaware, United States of America 25%
Bean Meridian LLC, Delaware, United States of America 25%
Lamnalco Ltd, Nicosia, Cyprus 50%
RW Aggregates Ltd, Dorking, United Kingdom 50%
52
Annual Report 2002