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VINNAPAS® EP 3360

A dispersion for environmentally sound wall paints free of unpleasant odors – ideal for hotels, hospitals, schools and children’s bedrooms.

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04 Intangible Assets

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€ million

  

Intangible assets

  

Land, buildings and similar rights

  

Technical equipment and machin­ery*

  

Other equipment, factory and office equipment

  

Assets under construc­tion

  

Property, plant and equipment

  

*Of which assets from finance leases

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

2017

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Balance as of Jan. 1, 2017

  

205.3

  

2,265.7

  

10,336.5

  

691.5

  

174.0

  

13,467.7

  

101.2

Additions

  

10.6

  

11.5

  

91.9

  

25.3

  

206.9

  

335.6

  

–

Disposals

  

-1.4

  

-2.1

  

-40.4

  

-22.8

  

-0.1

  

-65.4

  

–

Transfers

  

1.6

  

5.5

  

58.3

  

20.5

  

-85.9

  

-1.6

  

0.3

Changes in scope of consolidation

  

-58.2

  

-753.9

  

-2,463.7

  

-130.6

  

-44.4

  

-3,392.6

  

–

Exchange-rate differences

  

-5.1

  

-78.5

  

-301.1

  

-5.7

  

-9.8

  

-395.1

  

-2.9

Gross carrying amount as of Dec. 31, 2017

  

152.8

  

1,448.2

  

7,681.5

  

578.2

  

240.7

  

9,948.6

  

98.6

Cumulative depreciation and impairments

  

-111.3

  

-685.4

  

-5,284.2

  

-478.6

  

–

  

-6,448.2

  

-71.8

Changes in the scope of consolidation

  

53.0

  

532.5

  

2,224.4

  

122.3

  

0.1

  

2,879.3

  

–

Carrying amount as of Dec. 31, 2017

  

41.5

  

762.8

  

2,397.3

  

99.6

  

240.7

  

3,500.4

  

26.8

Depreciation

  

-13.1

  

-66.3

  

-506.3

  

-34.0

  

–

  

-606.6

  

-6.2

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

2016

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Balance as of Jan. 1, 2016

  

179.9

  

2,059.0

  

8,886.6

  

677.4

  

1,322.6

  

12,945.6

  

98.1

Additions

  

3.5

  

20.3

  

116.3

  

25.2

  

262.3

  

424.1

  

2.2

Disposals

  

-11.9

  

-0.4

  

-44.5

  

-21.4

  

–

  

-66.3

  

–

Transfers

  

15.1

  

138.5

  

1,230.5

  

3.0

  

-1,387.1

  

-15.1

  

–

Changes in the scope of consolidation

  

18.0

  

8.3

  

21.6

  

6.1

  

–

  

36.0

  

0.2

Exchange-rate differences

  

0.7

  

40.0

  

126.0

  

1.2

  

-23.8

  

143.4

  

0.7

Gross carrying amount as of Dec. 31, 2016

  

205.3

  

2,265.7

  

10,336.5

  

691.5

  

174.0

  

13,467.7

  

101.2

Cumulative depreciation and impairments

  

-154.9

  

-1,166.2

  

-7,122.1

  

-584.3

  

-0.2

  

-8,872.8

  

-67.3

Changes in the scope of consolidation

  

–

  

-3.6

  

-8.0

  

-5.1

  

–

  

-16.7

  

–

Carrying amount as of Dec. 31, 2016

  

50.4

  

1,099.5

  

3,214.4

  

107.2

  

173.8

  

4,594.9

  

33.9

Depreciation

  

-14.6

  

-78.5

  

-603.3

  

-38.8

  

–

  

-720.6

  

-7.1

Intangible assets include industrial property rights, similar rights, software and other assets acquired against payment. Acquisitions result in technologies, customer bases and order backlogs acquired against payment, which are amortized over a period of 3 to 9 years.

The acquisition costs of property, plant and equipment were reduced by investment grants totaling €477.3 million (compared with €482.2 million in the previous year).

In the reporting year, borrowing costs of €1.3 million (€1.2 million in the prior year) were capitalized as part of the acquisition costs of qualifying assets. The average financing cost rate was 2.7 percent (2.6 percent a year earlier). Property, plant and equipment also includes technical machinery and other equipment in the amount of €26.8 million (€33.9 million in the prior year) on the basis of an embedded finance lease. Due to the structure of the underlying contracts, economic ownership is attributable to WACKER.