Barclays 2012 Annual Report Download - page 276

23 Property, plant and equipment continued
Investment
property
£m
Property
£m
Equipment
£m
Leased
assets
£m
Total
£m
Cost
As at 1 January 2012 2,928 3,959 4,755 20 11,662
Acquisitions and disposals of subsidiaries (16) 6 1 – (9)
Additions and disposals (191) 177 211 (6) 191
Change in fair value of investment properties 23 – – – 23
Exchange and other movementsa(1,058) (112) (173) – (1,343)
As at 31 December 2012 1,686 4,030 4,794 14 10,524
Accumulated depreciation and impairment
As at 1 January 2012 – (1,245) (3,244) (7) (4,496)
Depreciation charge – (212) (456) (1) (669)
Disposals – 18 204 2 224
Exchange and other movements – 25 146 – 171
As at 31 December 2012 – (1,414) (3,350) (6) (4,770)
Net book value 1,686 2,616 1,444 8 5,754
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
Property rentals of £105m (2011: £94m) and £52m (2011: £61m) have been included in net investment income and other income respectively.
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.
Note
a Of the other movement, £1.1bn relates to a transfer of Baubecon, an investment property, to other assets held for sale in June. Subsequently in July, Baubecon was
disposed.
barclays.com/annualreport274 I Barclays PLC Annual Report 2012
Notes to the financial statements
For the year ended 31 December 2012 continued