Cathay Pacific 2011 Annual Report Download - page 66

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Notes to the Accounts STATEMENT OF FINANCIAL POSITION
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 2011 51,069 41,573 1,118 478 564 94,802
Additions 4,804 9,069 195 – 259 14,327
Disposals (5,378) – (26) – – (5,404)
Reclassification to assets held for sale (608) (564) – – – (1,172)
Transfers 1,948 (1,948) – – – –
At 31st December 2011 51,835 48,130 1,287 478 823 102,553
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
Accumulated depreciation
At 1st January 2011 31,436 13,399 782 349 377 46,343
Charge for the year 3,095 2,038 93 17 22 5,265
Impairment 100 – – – – 100
Disposals (3,435) – (26) – – (3,461)
Reclassification to assets held for sale (252) (164) – – – (416)
Transfers 898 (898) – – – –
At 31st December 2011 31,842 14,375 849 366 399 47,831
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
Reversal of 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
Net book value
At 31st December 2011 19,993 33,755 438 112 424 54,722
At 31st December 2010 19,633 28,174 336 129 187 48,459
(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 12 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.
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