Select note
- 1 General information
- 2 Summary of significant accounting policies
- 3 Financial risk management
- 4 Segment information
- 5 Assets held for sale
- 6 Acquisitions and disposals of subsidiaries
- 7 Analysis of revenue by category
- 8 Other income
- 9 Materials and services
- 10 Employee benefit costs
- 11 Depreciation, amortization and impairment charges
- 12 Other expenses
- 13 Financial income and expenses
- 14 Income tax expense
- 15 Earnings per share
- 16 Dividend per share
- 17 Property, plant and equipment
- 18 Intangible assets
- 19 Investments in associates and joint ventures
- 20 Carrying amounts of financial assets and liabilities by measurement categories
- 21 Non-current receivables and available-for-sale financial assets
- 22 Inventories
- 23 Current trade and other receivables
- 24 Cash and cash equivalents
- 25 Derivative financial instruments
- 26 Equity
- 27 Non-current and current liabilities
- 28 Deferred income taxes
- 29 Provisions
- 30 Retirement benefit obligations
- 31 Share-based payments
- 32 Related party transaction
- 33 Group companies on 31 December 2011
- 34 Contingencies and commitments
- 35 Disputes and potential litigations
- 36 Events after the balance sheet date
| 17 Property, plant and equipment | ||||||
| MEUR | ||||||
| Land | Buildings and constructions |
Machinery and equipment |
Other tangible assets |
Assets under construction |
Total | |
| 2011 | ||||||
| Gross carrying amount at January 1 2011 |
89 | 1,830 | 3,447 | 159 | 757 | 6,282 |
| Exchange differences | -2 | -3 | -4 | 0 | -1 | -10 |
| Additions | 4 | 33 | 52 | 3 | 249 | 341 |
| Disposals | -2 | -18 | -56 | -3 | -4 | -83 |
| Reclassifications | 6 | 356 | 485 | 1 | -848 | 0 |
| Reclassified as non current asset held for sale | -1 | -167 | -12 | - | -3 | -183 |
| Gross carrying amount at December 31 2011 |
94 | 2,031 | 3,912 | 160 | 150 | 6,347 |
| Accumulated depreciation and impairment losses at January 1 2011 |
- | 757 | 1,475 | 71 | - | 2,303 |
| Exchange differences | - | -1 | -2 | 0 | - | -3 |
| Disposals | - | -16 | -51 | -3 | - | -70 |
| Reclassifications | - | 0 | 0 | - | - | 0 |
| Depreciation for the period | - | 66 | 223 | 16 | - | 305 |
| On non current assets reclassified as held for sale | - | -146 | -10 | - | - | -156 |
| Accumulated depreciation and impairment losses at December 31 2011 |
- | 660 | 1,635 | 84 | - | 2,379 |
| Carrying amount at January 1 2011 |
89 | 1,073 | 1,972 | 88 | 757 | 3,979 |
| Carrying amount at December 31 2011 |
94 | 1,371 | 2,277 | 76 | 150 | 3,968 |
| MEUR | ||||||
| Land | Buildings and constructions |
Machinery and equipment |
Other tangible assets |
Assets under construction |
Total | |
| 2010 | ||||||
| Gross carrying amount at January 1 2010 |
71 | 1,491 | 2,836 | 123 | 848 | 5,369 |
| Exchange differences | 1 | 29 | 4 | 1 | 3 | 38 |
| Additions | 9 | 100 | 330 | 21 | 464 | 924 |
| Increases through business combinations |
1 | 3 | 2 | - | - | 6 |
| Disposals | 0 | -6 | -90 | 0 | -17 | -113 |
| Reclassifications | 7 | 213 | 365 | 14 | -541 | 58 |
| Gross carrying amount at December 31 2010 |
89 | 1,830 | 3,447 | 159 | 757 | 6,282 |
| Accumulated depreciation and impairment losses at January 1 2010 |
- | 689 | 1,385 | 60 | - | 2,134 |
| Exchange differences | - | 22 | 2 | 0 | - | 24 |
| Disposals | - | -5 | -90 | 0 | - | -95 |
| Reclassifications | - | -5 | -4 | -1 | - | -10 |
| Depreciation for the period | - | 56 | 182 | 12 | - | 250 |
| Accumulated depreciation and impairment losses at December 31 2010 |
- | 757 | 1,475 | 71 | - | 2,303 |
| Carrying amount at January 1 2010 |
71 | 802 | 1,451 | 63 | 848 | 3,235 |
| Carrying amount at December 31 2010 |
89 | 1,073 | 1,972 | 88 | 757 | 3,979 |
| Finance leases | ||||||
| Machinery and equipment include assets where the Group is a lessee under a finance lease as specified in the following table. | ||||||
| MEUR | 2011 | 2010 | ||||
| Gross carrying amount | 249 | 227 | ||||
| Accumulated depreciation | 62 | 50 | ||||
| Carrying amount | 187 | 177 | ||||
| Capitalized borrowing costs | ||||||
| Borrowing costs amounting to EUR 16 million (2010: EUR 22 million) were capitalized during the financial period related to the Renewable Fuels investment projects in Singapore and Rotterdam as well as Oil Products investment project in Bahrain. They are included in 'Property, Plant and Equipment'. The Group's average interest rate of borrowings for each month was applied as the capitalization rate, which resulted in average capitalization rate of 3.38% (2010: 2.53%). | ||||||