Our performance in 2009 - Sappi

126
Notes to the group annual financial statements continued
US$ million 2009 2008
9. Property, plant and equipment
Land and buildings
At cost 1,686 1,457
Accumulated depreciation and impairments 887 845
Plant and equipment*
799 612
At cost 7,863 7,056
Accumulated depreciation and impairments 4,914 4,448
Capitalised leased assets**
2,949 2,608
At cost 795 751
Accumulated depreciation and impairments 609 610
186 141
Aggregate cost 10,344 9,264
Aggregate accumulated depreciation and impairments 6,410 5,903
Aggregate book value 3,934 3,361
* Plant and equipment includes vehicles and furniture, the book value of which does not warrant disclosure in a separate class of assets.
** Capitalised leased assets consist primarily of plant and equipment.
The movement of property, plant and equipment is reconciled as follows:
US$ million
Land and
buildings
Plant and
equipment
Capitalised
leased
assets Total
Net book value at September 2007 619 2,703 169 3,491
Additions (1) 59 446 2 507
Disposals – (6) – (6)
Depreciation (34) (316) (24) (374)
Impairment (13) (106) – (119)
Translation difference (19) (113) (6) (138)
Net book value at September 2008 612 2,608 141 3,361
Additions (1) 33 150 1 184
Acquisition 169 508 73 750
Disposals (3) – (1) (4)
Transfers – 11 (11) –
Depreciation (37) (339) (20) (396)
Impairment – (79) – (79)
Translation difference 25 90 3 118
Net book value at September 2009 799 2,949 186 3,934
(1) No interest was capitalised in fiscal 2009 (2008: US$16 million capitalised at 10%).