Note 12: Property, plant and equipment
In € millions |
Land and buildings |
Plant equipment and machinery |
Other equipment |
Construction in progress and prepayments on projects |
Assets not used |
Total |
||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
||
Balance at January 1, 2021 |
|
|
|
|
|
|
||
Cost of acquisition |
1,425 |
1,937 |
890 |
244 |
10 |
4,506 |
||
Accumulated depreciation/impairment |
(731) |
(1,386) |
(757) |
(4) |
(7) |
(2,885) |
||
Carrying value at January 1, 2021 |
694 |
551 |
133 |
240 |
3 |
1,621 |
||
|
|
|
|
|
|
|
||
Movements in 2021 |
|
|
|
|
|
|
||
Acquisitions |
36 |
11 |
— |
— |
— |
47 |
||
Divestments |
(5) |
(3) |
(1) |
(1) |
— |
(10) |
||
Investments |
10 |
18 |
8 |
217 |
— |
253 |
||
Transfer between categories |
30 |
112 |
28 |
(170) |
— |
— |
||
Depreciation |
(44) |
(102) |
(41) |
— |
— |
(187) |
||
Impairments, including reversals thereof |
— |
(1) |
— |
— |
— |
(1) |
||
Changes in exchange rates |
31 |
29 |
6 |
11 |
— |
77 |
||
Total movements |
58 |
64 |
— |
57 |
— |
179 |
||
|
|
|
|
|
|
|
||
Balance at December 31, 2021 |
|
|
|
|
|
|
||
Cost of acquisition |
1,546 |
2,124 |
919 |
300 |
10 |
4,899 |
||
Accumulated depreciation/impairment |
(794) |
(1,509) |
(786) |
(3) |
(7) |
(3,099) |
||
Carrying value at December 31, 2021 |
752 |
615 |
133 |
297 |
3 |
1,800 |
||
Impact IAS 29 Hyperinflation Türkiye* |
10 |
3 |
— |
2 |
— |
15 |
||
Carrying value at January 1, 2022 |
762 |
618 |
133 |
299 |
3 |
1,815 |
||
|
|
|
|
|
|
|
||
Movements in 2022 |
|
|
|
|
|
|
||
Acquisitions |
75 |
45 |
5 |
— |
— |
125 |
||
Divestments |
(9) |
(4) |
(2) |
(5) |
— |
(20) |
||
Investments |
2 |
11 |
6 |
242 |
1 |
262 |
||
Transfer between categories |
53 |
87 |
36 |
(176) |
— |
— |
||
Depreciation |
(46) |
(105) |
(32) |
— |
— |
(183) |
||
Changes in exchange rates |
(5) |
(29) |
(7) |
10 |
— |
(31) |
||
Total movements |
70 |
5 |
6 |
71 |
1 |
153 |
||
|
|
|
|
|
|
|
||
Balance at December 31, 2022 |
|
|
|
|
|
|
||
Cost of acquisition |
1,658 |
2,208 |
923 |
373 |
11 |
5,173 |
||
Accumulated depreciation/impairment |
(826) |
(1,585) |
(784) |
(3) |
(7) |
(3,205) |
||
Carrying value at December 31, 2022 |
832 |
623 |
139 |
370 |
4 |
1,968 |
||
|
||||||||
Acquisitions
The additions from acquisitions in 2022 primarily relate to the acquisition of Grupo Orbis S.A., Colombia, and of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, Germany. In 2021, additions from acquisitions primarily related to the acquisition of Titan Paints in Spain. Refer to Note 2 for disclosures on acquisitions.
Investments in property, plant and equipment
Large investment projects in 2022 are amongst others investments at our Highpoint, US, Wood Coatings site, and the setup of a new powder coatings manufacturing line at our Hanoi, Vietnam site.
Impairments
Periodical evaluations are performed in order to ensure timely detection of triggers that might indicate impairment of assets. Whenever such triggers are noted, the related assets are assessed for impairment as appropriate.
In 2022 and 2021, no significant impairments were recognized.
Changes in exchange rates
Changes in exchange rates includes a €30 million positive adjustment from the IAS 29 hyperinflation impact for Türkiye and Argentina.