: notes to the accounts :
12. Tangible fixed assets
| all figures in ｣ millions |
|
|
|
|
|
freehold &
leasehold
property
|
plant
&
equipment
|
assets in
course of
construction
|
total
|
|
| Cost or as valued |
|
|
|
|
| At 31 December 1998 |
249
|
527
|
18
|
794
|
| Exchange differences |
2
|
2
|
末
|
4
|
| Reclassifications |
3
|
9
|
(12)
|
末
|
| Owned by subsidiary undertakings acquired |
末
|
(8)
|
末
|
(8)
|
| Capital expenditure |
18
|
77
|
21
|
116
|
| Disposals |
(36)
|
(49)
|
(6)
|
(91)
|
| Owned by subsidiary undertakings disposed |
(1)
|
(21)
|
末
|
(22)
|
|
|
|
|||
| At 31 December 1999 |
235
|
537
|
21
|
793
|
|
|
|
|||
| Depreciation |
|
|
|
|
| At 31 December 1998 |
(78)
|
(281)
|
末
|
(359)
|
| Exchange differences |
(1)
|
(1)
|
末
|
(2)
|
| Impairment in value |
末
|
(11)
|
末
|
(11)
|
| Provided in the year |
(12)
|
(70)
|
末
|
(82)
|
| Subsidiary undertakings acquired |
末
|
4
|
末
|
4
|
| Disposals |
10
|
44
|
末
|
54
|
| Subsidiary undertakings disposed |
末
|
8
|
末
|
8
|
|
|
|
|||
| At 31 December 1999 |
(81)
|
(307)
|
末
|
(388)
|
|
|
|
|||
| Net book value |
|
|
|
|
| At 31 December 1998 |
171
|
246
|
18
|
435
|
|
|
|
|||
| At 31 December 1999 |
154
|
230
|
21
|
405
|
|
|
|
|||
Freehold and leasehold property Net book value includes: freehold of ｣113m (1998: ｣133m) and short leases of ｣41m (1998: ｣38m).
Depreciation Fixed assets are depreciated over their estimated economic lives in equal annual amounts. Generally, freeholds are depreciated at 1% to 5% per annum, leaseholds at 2% per annum, or over the period of the lease if shorter, and plant and equipment at various rates between 5% and 33% per annum. Land, amounting to ｣32m, is not depreciated.
Capital commitments The Group had capital commitments for fixed assets, including finance leases, already under contract amounting to ｣20m at 31 December 1999.
Other notes The net book value of Group tangible fixed assets includes ｣23m in respect of assets held under finance leases. Depreciation on these assets charged in 1999 was ｣2m (1998: ｣1m).
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