Cathay Pacific 2010 Annual Report Download - page 66

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64
12. Fixed assets (continued)
Aircraft and
related equipment
Other
equipment Buildings
Owned
HK$M
Leased
HK$M
Owned
HK$M
Leased
HK$M
Owned
HK$M
Total
HK$M
Company
Cost
At 1st January 2010 47,080 42,138 1,031 478 436 91,163
Additions 800 3,724 103 – 128 4,755
Disposals (1,100) – (16) – – (1,116)
Transfers 4,289 (4,289) – – – –
At 31st December 2010 51,069 41,573 1,118 478 564 94,802
At 1st January 2009 45,965 39,711 1,018 478 408 87,580
Additions 2,786 3,854 69 – 28 6,737
Disposals (3,098) – (56) – – (3,154)
Transfers 1,427 (1,427) – – – –
At 31st December 2009 47,080 42,138 1,031 478 436 91,163
Accumulated depreciation
At 1st January 2010 26,012 14,044 713 328 373 41,470
Charge for the year 3,356 1,931 85 21 4 5,397
Impairment (98) – – – – (98)
Disposals (410) – (16) – – (426)
Transfers 2,576 (2,576) – – – –
At 31st December 2010 31,436 13,399 782 349 377 46,343
At 1st January 2009 25,000 12,849 677 308 372 39,206
Charge for the year 2,702 1,902 92 20 1 4,717
Impairment 219 – – – – 219
Disposals (2,616) – (56) – – (2,672)
Transfers 707 (707) – – – –
At 31st December 2009 26,012 14,044 713 328 373 41,470
Net book value
At 31st December 2010 19,633 28,174 336 129 187 48,459
At 31st December 2009 21,068 28,094 318 150 63 49,693
(a) Finance leased assets
Certain aircraft are subject to leases with purchase options to be exercised at the end of the respective leases.
The remaining lease terms range from 1 to 13 years. Some of the rent payments are on a floating basis which
are generally linked to market rates of interest. All leases permit subleasing rights subject to appropriate
consent from lessors. Early repayment penalties would be payable on some of the leases should they be
terminated prior to their specified expiry dates.
Notes to the Accounts STATEMENT OF FINANCIAL POSITION