Note 33 - Property, plant and equipment

2015            
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
128 234 362  Cost of acquisition at 1 January  1,588 329 1,259
2 31 33  Acquisitions  54 49 5
-11 -12 -23  Disposals  -28 -17 -11
-2 -3 -5  Corrections  -5 -3 -2
117 250 367  Cost of acquisition at 31 December  1,609 358 1,251
             
53 146 200  Accumulated depreciation and write-downs as at 1 January  469 223 246
9 31 40  Current period's depreciation  100 44 56
0 1 1  Current period's write-down  4 1 3
-11 -11 -22  Disposals  -22 -11 -11
-2 -3 -5  Reversal of accumulated depreciation and write-downs  -5 -3 -2
50 164 214  Accumulated depreciation and write-down as at 31 December  546 254 292
68 85 153  Book value as at 31 December  1,064 104 959

 

2014    
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
124 206 329  Cost of acquisition at 1 January  1,543 303 1,240
4 29 33  Acquisitions*) 53 34 19
-0 -0 -0  Disposals*) 8 8 -0
128 234 362  Cost of acquisition at 31 December  1,588 329 1,259
             
45 115 160  Accumulated depreciation and write-downs as at 1 January  369 181 188
8 31 39  Current period's depreciation  105 48 57
- 1 1  Current period's write-down  3 3 -
- - -  Reversal of accumulated depreciation and write-downs*) 8 8 0
53 146 200  Accumulated depreciation and write-down as at 31 December  469 223 246
75 88 162  Book value as at 31 December  1,120 107 1,013

*)Parts of acquisitions and disposals, and reversal of accumulated depreciations and write-downs are due to a redistribution of property, plant and equipment in the note.

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 Group has not provided security or accepted any other infringements on its right of disposal of its fixed tangible assets with the exception of SpareBank 1 Markets which has pledged inter alia business assets to DNB Bank in connection with banking services related to the securities settlement.

Acquisition cost of depreciated assets

The acquisition cost of fully depreciated assets still in use in the Bank in 2015 is NOK 98 million (NOK 90 million).

Gross value of non-current assets temporarily out of operation.

The Group has no significant non-current assets temporarily out of operation as at 31 December 2015.

 

Financial results

Annual report and notes

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