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91
SIA Annual Report 03/04
Notes to the Financial Statements
31 March 2004
17 Fixed Assets (in $ million) (continued)
The Company
Disposals/ Provision for
1 April 03 Additions Transfers impairment 31 March 04
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Cost
Aircraft 13,374.3 2,179.0 (1,960.5) – 13,592.8
Aircraft spares 1,369.9 209.7 (346.7) – 1,232.9
Aircraft spare engines 473.5 30.9 (112.3) – 392.1
Freehold land and buildings 237.8 – (1.3) – 236.5
Leasehold land and buildings 539.2 – (1.5) – 537.7
Plant and equipment 365.1 57.0 (21.8) – 400.3
Office and computer equipment 504.6 38.6 (18.1) – 525.1
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
16,864.4 2,515.2 (2,462.2) – 16,917.4
Advance and progress payments 1,685.5 1,850.4 (2,311.1) – 1,224.8
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
18,549.9 4,365.6 (4,773.3) – 18,142.2
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Accumulated depreciation and impairment
Aircraft 4,981.1 690.4 (925.6) 6.8 4,752.7
Aircraft spares 714.6 61.7 (120.8) 21.2 676.7
Aircraft spare engines 176.4 20.9 (56.3) – 141.0
Freehold land and buildings 122.3 6.2 (1.3) – 127.2
Leasehold land and buildings 293.8 15.8 (1.5) – 308.1
Plant and equipment 243.0 46.5 (20.9) – 268.6
Office and computer equipment 360.6 58.8 (17.7) – 401.7
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
6,891.8 900.3 (1,144.1) 28.0 6,676.0
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net book value 11,658.1 11,466.2
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Depreciation Net Book Value
2003-04 2002-03 31 March 04 31 March 03
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Aircraft 690.4 635.1 8,840.1 8,393.2
Aircraft spares 61.7 70.2 556.2 655.3
Aircraft spare engines 20.9 23.9 251.1 297.1
Freehold land and buildings 6.2 6.3 109.3 115.5
Leasehold land and buildings 15.8 15.8 229.6 245.4
Plant and equipment 46.5 36.3 131.7 122.1
Office and computer equipment 58.8 52.5 123.4 144.0
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
900.3 840.1 10,241.4 9,972.6
––––––––––––––––––––––––––––––––
Advance and progress payments 1,224.8 1,685.5
––––––––––––––––––––––––––––––––
11,466.2 11,658.1
––––––––––––––––––––––––––––––––
The Group The Company
31 March 31 March
2004 2003 2004 2003
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net book value of fixed assets acquired under
finance leases:
– aircraft 967.4 456.4 – –
– plant and equipment 137.4 159.7 – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
1,104.8 616.1 – –
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Advance and progress payments comprise mainly purchases of aircraft, related equipment and building projects.
The provision for impairment represents the write-down of certain aircraft and spares to recoverable amount due to the
related fleet types being phased out. The estimated recoverable amount of aircraft was determined based on
independent professional valuations or published second-hand aircraft values. The estimated recoverable amount of
spares was determined based on references to average tender prices for the year and various bids submitted.