Barclays 2011 Annual Report Download - page 243

25 Property, plant and equipment continued
Investment
property
£m
Property
£m
Equipment
£m
Leased
assets
£m
Total
£m
Cost
As at 1 January 2011 1,570 4,229 4,749 75 10,623
Acquisitions of subsidiaries 1,201 – – – 1,201
Additions and disposals 277 (183) 256 1 351
Change in fair value of investment properties (138) – – – (138)
Exchange and other movements 18 (87) (250) (56) (375)
As at 31 December 2011 2,928 3,959 4,755 20 11,662
Accumulated depreciation and impairment
As at 1 January 2011 – (1,326) (3,133) (24) (4,483)
Depreciation charge – (206) (463) (4) (673)
Disposals – 275 175 4 454
Exchange and other movements – 12 177 17 206
As at 31 December 2011 – (1,245) (3,244) (7) (4,496)
Net book value 2,928 2,714 1,511 13 7,166
Cost
As at 1 January 2010 1,207 3,830 4,197 66 9,300
Acquisitions and disposals of subsidiaries 46 2 4 – 52
Additions and disposals 353 283 120 9 765
Change in fair value of investment properties (54) – – – (54)
Exchange and other movements 18 114 428 – 560
As at 31 December 2010 1,570 4,229 4,749 75 10,623
Accumulated depreciation and impairment
As at 1 January 2010 – (1,128) (2,529) (17) (3,674)
Depreciation charge – (231) (555) (4) (790)
Disposals – 86 341 (3) 424
Exchange and other movements – (53) (390) – (443)
As at 31 December 2010 – (1,326) (3,133) (24) (4,483)
Net book value 1,570 2,903 1,616 51 6,140
Property rentals of £94m (2010: £105m) and £61m (2010: £48m) have been included in net investment income and other income respectively and
gains on property disposals of £13m (2010: £29m) have been included in administration and general expenses.
The fair value of investment property is determined by reference to current market prices for similar properties, adjusted as necessary for condition and
location, or by reference to recent transactions updated to reflect current economic conditions. Discounted cash flow techniques may be employed to
calculate fair value where there have been no recent transactions, using current external market inputs such as market rents and interest rates.
Valuations are carried out by management with the support of appropriately qualified independent valuers.
Barclays PLC Annual Report 2011 www.barclays.com/annualreport 241
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