Tesco 2013 Annual Report Download - page 100

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96 Tesco PLC Annual Report and Financial Statements 2013
Notes to the Group financial statements
Note 11 Property, plant and equipment
Land and
buildings
£m
Other(a)
£m
Total
£m
Cost
At 25 February 2012 24,761 10,011 34,772
Foreign currency translation 428 173 601
Additions(b) 1,525 1,109 2,634
Acquired through business combinations 4 1 5
Reclassification (104) (28) (132)
Classified as held for sale (125) (4) (129)
Disposals (734) (116) (850)
Transfer to disposal group classified as held for sale (938) (320) (1,258)
At 23 February 2013 24,817 10,826 35,643
Accumulated depreciation and impairment losses
At 25 February 2012 2,951 6,111 9,062
Foreign currency translation 64 98 162
Charge for the year 448 874 1,322
Impairment losses for the year 831 2833
Reversal of impairment losses for the year (5) (1) (6)
Reclassification (6) 1(5)
Classified as held for sale (25) (2) (27)
Disposals (182) (98) (280)
Transfer to disposal group classified as held for sale (115) (173) (288)
At 23 February 2013 3,961 6,812 10,773
Net carrying value(c)(d)
At 23 February 2013 20,856 4,014 24,870
At 25 February 2012 21,810 3,900 25,710
Construction in progress included above(e)
At 23 February 2013 584 96 680
At 25 February 2012 1,246 44 1,290
(a) Other assets consist of plant, equipment, fixtures and fittings and motor vehicles.
(b) Includes £123m (2012: £140m) in respect of interest capitalised, principally relating
to land and building assets. The capitalisation rate used to determine the amount
of finance costs capitalised during the financial year was 5.1% (2012: 5.1%). Interest
capitalised is deducted in determining taxable profit in the financial year in which
it is incurred.
(c) Net carrying value includes:
(i) Capitalised interest at 23 February 2013 of £1,195m (2012: £1,185m).
(ii) Assets held under finance leases which are analysed below:
2013 2012
Land and
buildings
£m
Other(a)
£m
Land and
buildings
£m
Other(a)
£m
Cost 157 559 149 574
Accumulated depreciation
and impairment losses (45) (514) (37) (495)
Net carrying value 112 45 112 79
These assets are pledged as security for the finance lease liabilities.
(d) The net carrying value of land and buildings comprises:
2013
£m
2012
£m
Freehold 18,335 19,016
Long leasehold – 50 years or more 623 676
Short leasehold – less than 50 years 1,898 2,118
Net carrying value 20,856 21,810
(e) Construction in progress does not include land.