EasyJet 2014 Annual Report Download - page 117

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Accounts & other information
www.easyJet.com 115
9 Property, plant and equipment
Aircraft and
spares
£ million
Other
£ million
Total
£ million
Cost
At 1 October 2013 2,674 31 2,705
Additions
419 17 436
Transfer to intangible assets
– (10) (10)
Transfer to maintenance provision (55) – (55)
Disposals
(3) (2) (5)
At 30 September 2014 3,035 36 3,071
Depreciation
At 1 October 2013
415 10 425
Charge for the year
103 3 106
Disposals
(1) (1) (2)
At 30 September 2014 517 12 529
Net book value
At 30 September 2014 2,518 24 2,542
At 1 October 2013
2,259 21 2,280
Aircraft and
spares
£ million
Other
£ million
Total
£ million
Cost
At 1 October 2012
2,745 29 2,774
Additions
395 19 414
Transfer to intangible assets – (14) (14)
Aircraft sold and leased back (421) – (421)
Transfer to maintenance provision (43) – (43)
Disposals
(2) (3) (5)
At 30 September 2013
2,674 31 2,705
Depreciation
At 1 October 2012
368 11 379
Charge for the year
100 2 102
Aircraft sold and leased back (52) – (52)
Disposals
(1) (3) (4)
At 30 September 2013
415 10 425
Net book value
At 30 September 2013
2,259 21 2,280
At 1 October 2012
2,377 18 2,395
The net book value of aircraft includes £322 million (2013: £196 million) relating to advance and option payments for future
deliveries. This amount is not depreciated.
Aircraft with a net book value of £597 million (2013: £664 million) are mortgaged to lenders as loan security.
Aircraft with a net book value of £142 million (2013: £147 million) are held under finance leases.
easyJet is contractually committed to the acquisition of 170 (2013: 144) Airbus A320 family aircraft, with a total list price of
US$14.6 billion (2013: US$12.4 billion) before escalations and discounts for delivery in 2015 (20 aircraft), between 2016 and 2018
(50 aircraft) and between 2017 and 2022 (100 new generation aircraft).
The ‘other’ category mainly comprises leasehold improvements, computer hardware, and fixtures, fittings and equipment.