Philips 2004 Annual Report Download - page 135
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O
15 Property, plant and equipment
total land
and
buildings
machinery
and
installations
lease assets other
equipment
prepayments
and
construction
in progress
no longer
productively
employed
Balance as of January 1, 2004:
Cost 14,153 3,061 8,303 139 2,089 531 30
Accumulated depreciation (9,274) (1,521) (6,008) (103) (1,618)–(24)
Book value 4,879 1,540 2,295 36 471 531 6
Changes in book value:
Capital expenditures 1,286 259 740 10 231 43 3
Retirements and sales (167) (48) (81) (2) (19) (15) (2)
Depreciation (1,337) (149) (914) (11) (263) – –
Write-downs and impairments (36) (22) (7) – (6) – (1)
Translation differences (158) (48) (84) (1) (9) (15) (1)
Changes in consolidation 530 152 346 – (7)39 –
Total changes 118 144 – (4) (73) 52 (1)
Balance as of December 31, 2004:
Cost 14,609 3,258 8,597 124 2,012 583 35
Accumulated depreciation (9,612) (1,574) (6,302) (92) (1,614)–(30)
Book value 4,997 1,684 2,295 32 398 583 5
Land (with a book value of EUR 172 million) is not depreciated.
The expected service lives as of December 31, 2004 were as follows:
Buildings from 14 to 50 years
Machinery and installations from 5 to 10 years
Lease assets from 3 to 10 years
Other equipment from 3 to 5 years
Property, plant and equipment includes EUR 83 million (2003: EUR 31 million) for capital leases
and other beneficial rights of use, such as building rights and hire purchase agreements. The
financial obligations arising from these contractual agreements are reflected in long-term debt.
Capital expenditures include capitalized interest related to the construction in progress
amounting to EUR 10 million (2003: EUR 10 million).
Changes in consolidation include an amount of EUR 494 million for the consolidation of SSMC
from 2004 onwards.
134 Philips Annual Report 2004
Financial statements of the Philips Group