IMI plc annual report 2012

ENGINEERINGADVANTAGENotes to the Financial Statements13. Property, plant and equipmentAssets in theLand & Plant & course ofbuildings equipment construction Total£m £m £m £mCostAs at 1 January 2011 189.6 689.2 19.6 898.4Exchange adjustments (1.6) (9.6) (0.3) (11.5)Acquisitions 1.9 1.0 - 2.9Additions 7.4 35.0 9.7 52.1Disposals (2.0) (55.2) - (57.2)Transfers 0.9 10.0 (10.9) -As at 31 December 2011 196.2 670.4 18.1 884.7Exchange adjustments (6.8) (14.5) (0.5) (21.8)Acquisitions 4.6 7.0 - 11.6Additions 3.5 21.9 13.7 39.1Transfer to intangible assets * - (5.6) - (5.6)Transfers from AUC 1.0 17.8 (18.8) -Disposals (1.3) (34.9) (0.5) (36.7)As at 31 December 2012 197.2 662.1 12.0 871.3DepreciationAs at 1 January 2011 89.9 567.1 0.1 657.1Exchange adjustments (0.9) (6.7) - (7.6)Disposals (0.4) (53.8) - (54.2)Impairment reversal (1.0) (1.5) - (2.5)Depreciation 5.0 38.6 - 43.6As at 31 December 2011 92.6 543.7 0.1 636.4Exchange adjustments (2.8) (11.1) - (13.9)Disposals (1.1) (32.1) (0.1) (33.3)Transfer to intangible assets * - (5.2) - (5.2)Impairment - 0.7 - 0.7Depreciation 4.4 36.9 - 41.3As at 31 December 2012 93.1 532.9 - 626.0NBV at 31 December 2011 103.6 126.7 18.0 248.3NBV at 31 December 2012 104.1 129.2 12.0 245.3* This transfer represents software costs of £0.4m net book value historically held in PPE but reclassified to intangible assetsin the year.Included in the total net book value of plant and machinery is £2.1m (2011: £1.0m) in respect of assets acquired under financeleases. Depreciation for the year on these assets was £0.6m (2011: £0.6m).104 Financial statements