Note 27 - Property, plant and equipment

Parent Bank   Group
Buildings and other real property Machinery, inventory and vehicles Total (NOK million) Total Machinery, inventory and vehicles Buildings and other real property
             
  59 307   366 Cost of acquisition at 1 January 2009   759 352 407
  19 36   56 Acquisitions   391 40 351
  17 1   18 Disposals   18 1   17
  61 342   404 Cost of acquisition at 31 December 2009 1,132 391 740
             
  11 218   230 Accumulated depreciation and write-downs as at 1 January 2009   267 247   21
  1 41   43 Current period's depreciation   50 49   1
  1 -   2 Current period's write-down 2 -   1
  6 -   6 Reversal of accumulated depreciation and write downs 6 -   6
  8 260   268 Accumulated depreciation and write-down as at 31 December 2009   313 296   17
             
  54 82   136 Book value as at 31 December 2009   819 96 724
             
78 341 419 Cost of acquisition at 1 January 2010 1) 1,130 385 745
37 70 107 Acquisitions 266 88 179
-  -  - Decomposition, SpareBank 1 Kvartalet AS  - 9 -9
97 84 181 Disposals 96 86 10
19 327 345 Cost of acquisition at 31 December 2010 1,300 396 904
             
23 278 302 Accumulated depreciation and write-downs as at 1 January 2010 1) 334 310 23
2 25 27 Current period's depreciation 44 33 10
- 4 4 Current period's write-down 4 4 -
21 97 118 Reversal of accumulated depreciation and write downs 108 98 9
4 210 215 Accumulated depreciation and write-down as at 31 December 2010 274 249 25
             
14 116 131 Book value as at 31 December 2010 1,027 147 880
             
19 327 345 Cost of acquisition at 1 January 2011 1,300 396 904
6 53 59 Acquisitions 172 87 85
- 10 10 Disposals 21 21 -
24 370 394 Cost of acquisition at 31 December 2011 1,451 462 989
             
4 210 215 Accumulated depreciation and write-downs as at 1 January 2011 274 249 25
1 36 37 Current period's depreciation 86 49 38
  - 1 1 Current period's write-down 2 2 -
- 9 10 Reversal of accumulated depreciation and write downs 20 19 -
5 238 243 Accumulated depreciation and write-down as at 31 December 2011 342 280 62
             
19 132 151 Book value as at 31 December 2011 1,109 182 927

Depreciation

With a basis in acquisition cost less any residual value, assets are depreciated on a straight-line basis over expected lifetime as follows:

  •   Technical installations 10 yrs
  •   Machinery 3 - 5 yrs
  •   Fixtures 5 - 10 yrs
  •   IT equipment 3 - 5 yrs
  •   Means of transport 10 yrs
  •   Buildings and other real property 25 - 33 yrs

Provision of security

The Bank has not provided security or accepted any other infringements on its right of disposal of its fixed tangible assets.

Acquisition cost of depreciated assets

The acquisition cost of fully depreciated assets still in use in the Bank in 2011 is NOK 94 million.

Gross value of non-current assets temporarily out of operation

The Group has no significant non-current assets out of operation as at 31 December 2011.

1) The opening balance is not comparable with the closing balance in last year's note.

Financial results

Annual report and notes

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