ACCOR ex. Doc de r.f GB

note 14
Property, plant and equipment
1996 1997 1998
in millions € € € FRF
Land 720 761 410 2,691
Buildings 3,019 3,269 2,576 16,895
Fittings 592 640 702 4,607
Furniture and equipment 1,012 1,241 1,276 8,371
Construction in process 41 72 325 2,130
Total gross 5,384 5,983 5,289 34,694
Depreciation and amortization (1,495) (1,868) (1,831) (12,010)
Total net 3,889 4,115 3,458 22,684
At 1998 year end, property, plant and equipment held under capital leases totaled € 564 million or FRF 3,699 million
(gross value), as against € 507 million (FRF 3,327 million) at 1997 year end.
note 15
Long-term loans
1996 1997 1998
in millions € € € FRF
Hotels, US / Canada (1) 32 46 13 87
Hotels, UK (2) 25 28 – –
Hotels, The Netherlands (3) 14 14 14 89
Sedri (Le Duff) (4) 22 24 13 83
Hotels, Asia / Pacific – 19 33 217
Vaturi Group (5) 2 9 49 319
Cruise Lines 6 5 3 19
Other 96 69 118 777
Total 197 214 243 1,591
(1) The change reflects, on the one hand, partial repayment of the loan and, on the other hand, changes in the scope of consolidation related to the
buy-out of companies previously unconsolidated.
(2) A loan was granted in 1994 to an unconsolidated company owning 3 Novotel hotels in the UK. This loan was reimbursed in January 1999 and
as such is included under “short-term loans”.
(3) In 1995, the Group granted a € 14 million (FRF 89 million) short-term loan to a non-consolidated company holding 7 Novotel hotels in
The Netherlands.
(4) In 1998, € 11.3 million (FRF 74 million) of this loan were reimbursed. The balance is due December 31, 1999.
(5) See Note 17.
CONSOLIDATED FINANCIAL STATEMENTS
51