Reebok 2015 Annual Report Download - page 210

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CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Statement of Financial Position
At December 31, 2014, impairment losses of € 104 million (before transaction costs) for write-downs of the
disposal group Rockport to the lower of its carrying amount and its fair value less costs to sell have been
included in ‘Losses/gains from discontinued operations, net of tax’ SEE NOTE 03 . At December 31, 2014,
the fair value less costs to sell amounted to € 211 million. The impairment losses have been applied to
reduce the carrying amount of goodwill, trademarks and other intangible assets as well as property, plant
and equipment.
At December 31, 2014, the disposal group Rockport was stated at fair value less costs to sell and
comprised the following major classes of assets and liabilities:
CLASSES OF ASSETSAND LIABILITIES
€ in millions Dec. 31, 2014
Accounts receivable 49
Other current financial assets 1
Inventories 88
Total current assets 139
Property, plant and equipment 7
Trademarks 112
Other intangible assets 1
Total non-current assets 121
Total assets 260
Accounts payable 37
Other current provisions 1
Current accrued liabilities 6
Other current liabilities 2
Total current liabilities 46
Total liabilities 46
The non-recurring fair value measurement for the disposal group has been categorised as a Level 3 fair
value. The fair value is based on the sale and purchase agreement for the Rockport business which was
signed on January 23, 2015 SEE NOTE 03.
Property, plant and equipment consist of the following:
PROPERTY, PLANTAND EQUIPMENT
€ in millions Dec. 31, 2015 Dec. 31, 2014
Land, land leases, buildings and leasehold improvements 1,319 1,073
Technical equipment and machinery 300 268
Other equipment as well as furniture and fixtures 1,502 1,323
3,121 2,664
Less: accumulated depreciation and impairment losses (1,583) (1,369)
1,538 1,296
Construction in progress, net 100 159
Property, plant and equipment, net 1,638 1,454
Depreciation expenses were € 279 million and € 258 million for the years ending December 31, 2015 and
2014, respectively SEE NOTE 31.
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PROPERTY, PLANT
AND EQUIPMENT