27 Property, Plant and Equipment
in € million |
Owner-occupied properties |
Technical equipment, plant and machinery |
Other equipment, fixtures, furniture and office equipment |
Right-of-use assets (IFRS 16) |
Total |
|---|---|---|---|---|---|
|
|
|
|
|
|
Cost |
|
|
|
|
|
As of Jan. 1, 2019 |
143.8 |
46.0 |
130.3 |
– |
320.1 |
Additions due to business combinations |
– |
0.6 |
2.7 |
– |
3.3 |
Additions of right-of-use assets (IFRS 16) |
– |
– |
– |
82.2 |
82.2 |
Additions |
26.3 |
5.1 |
47.9 |
12.8 |
92.1 |
Capitalized modernization costs |
1.8 |
0.0 |
0.1 |
– |
1.9 |
Grants received |
-1.0 |
– |
– |
– |
-1.0 |
Disposals |
-0.4 |
– |
-8.7 |
-1.3 |
-10.4 |
Transfer from investment properties |
3.3 |
– |
– |
– |
3.3 |
Transfer to investment properties |
-11.1 |
– |
– |
– |
-11.1 |
Other transfers |
– |
–6.1 |
-6.3 |
6.1 |
-6.3 |
As of Dec. 31, 2019 |
162.7 |
45.6 |
166.0 |
99.8 |
474.1 |
Accumulated depreciation |
|
|
|
|
|
As of Jan. 1, 2019 |
6.3 |
20.6 |
42.8 |
– |
69.7 |
Additions due to business combinations |
– |
0.5 |
1.9 |
– |
2.4 |
Depreciation in reporting year |
2.0 |
5.4 |
31.9 |
18.5 |
57.8 |
Impairment |
0.5 |
– |
– |
– |
0.5 |
Reversal of impairments |
-0.7 |
– |
– |
– |
-0.7 |
Disposals |
-0.4 |
– |
-8.2 |
-0.5 |
-9.1 |
Other transfers |
– |
-1.4 |
-5.1 |
1.4 |
-5.1 |
As of Dec. 31, 2019 |
7.7 |
25.1 |
63.3 |
19.4 |
115.5 |
Carrying amounts |
|
|
|
|
|
As of Dec. 31, 2019 |
155.0 |
20.5 |
102.7 |
80.4 |
358.6 |
|
|
|
|
|
|
Cost |
|
|
|
|
|
As of Jan. 1, 2018 |
104.5 |
43.1 |
77.4 |
– |
225.0 |
Additions due to business combinations |
21.3 |
0.1 |
5.4 |
– |
26.8 |
Additions |
22.4 |
3.0 |
66.2 |
– |
91.6 |
Capitalized modernization costs |
1.6 |
– |
– |
– |
1.6 |
Disposals |
-1.8 |
-0.2 |
-19.8 |
– |
-21.8 |
Transfer from investment properties |
6.5 |
– |
– |
– |
6.5 |
Transfer to investment properties |
-10.7 |
– |
– |
– |
-10.7 |
Other transfers |
– |
– |
1.1 |
– |
1.1 |
As of Dec. 31, 2018 |
143.8 |
46.0 |
130.3 |
– |
320.1 |
Accumulated depreciation |
|
|
|
|
|
As of Jan. 1, 2018 |
5.0 |
14.8 |
27.6 |
– |
47.4 |
Additions due to business combinations |
0.2 |
– |
3.4 |
– |
3.6 |
Depreciation in reporting year |
2.2 |
6.0 |
29.5 |
– |
37.7 |
Reversal of impairments |
-0.5 |
– |
– |
– |
-0.5 |
Disposals |
-0.6 |
-0.2 |
-18.9 |
– |
-19.7 |
Other transfers |
0.0 |
– |
1.2 |
– |
1.2 |
As of Dec. 31, 2018 |
6.3 |
20.6 |
42.8 |
– |
69.7 |
Carrying amounts |
|
|
|
|
|
As of Dec. 31, 2018 |
137.5 |
25.4 |
87.5 |
– |
250.4 |
|
|
|
|
|
|
Accounting Policies
Items of property, plant and equipment are carried at amortized cost less accumulated depreciation and are depreciated over their respective estimated useful lives on a straight-line basis.
Subsequent costs of replacing part of an item of property, plant and equipment are capitalized provided it is probable that future economic benefits associated with the item will flow to Vonovia and the cost can be estimated reliably.
The properties used by the company itself are subject to depreciation over a term of 50 years, with fixtures, furniture and office equipment subject to depreciation over a period of 3–13 years and technical equipment, plant and machinery over a period of 5–20 years.
As of December 31, 2019, the item “Owner-occupied properties” includes € 106.2 million (Dec. 31, 2018: € 83.4 million), which mainly consists of production costs for the construction of the new Vonovia headquarters in Bochum and of the BUWOG headquarters in Vienna.
Furthermore, carrying amounts of owner-occupied properties amounting to € 30.6 million as of December 31, 2019 (Dec. 31, 2018: € 35.1 million) are encumbered with land charges in favor of various lenders.