Huawei 2013 Annual Report Download - page 63
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62 Notes to the Consolidated Financial Statements Summary
(g) Investment property
Investment properties are land and/
or buildings which are owned or held
under a leasehold interest (see note 1(k))
to earn rental income and/or for capital
appreciation.
Investment properties are stated at cost
less accumulated depreciation (see note
1(h)(iii)) and impairment losses (see note
1(l)). Depreciation is calculated to write off
the cost of items of investment property,
less their estimated residual value, if any,
using the straight line method over their
estimated useful lives. Rental income from
investment properties is accounted for as
described in note 1(s)(iv).
(h) Other property, plant and equipment
i) Recognition and measurement
Items of property, plant and equipment
are stated at cost less accumulated
depreciation and impairment losses (see
note 1(l)). Cost includes expenditure that
is directly attributable to the acquisition
of the assets. The cost of self-constructed
items of property, plant and equipment
includes the cost of materials, direct labour,
the initial estimate, where relevant, of the
costs of dismantling and removing the items
and restoring the site on which they are
located, and an appropriate proportion of
production overheads and borrowing costs
(see note 1(t)).
Construction in progress is transferred to
other property, plant and equipment when
it is ready for its intended use.
Gains or losses arising from the retirement
or disposal of an item of property, plant and
equipment are determined as the difference
between the net disposal proceeds and
the carrying amount of the item and are
recognised in profit or loss on the date of
retirement or disposal.
ii) Subsequent costs
The cost of replacing part of an item of
property, plant and equipment is recognised
in the carrying amount of the item if it is
probable that the future economic benefits
embodied within the part will flow to the
Group and its cost can be measured reliably.
The carrying amount of the replaced
component is derecognised. The costs of
the day-to-day servicing of property, plant
and equipment are recognised in profit or
loss as incurred.
iii) Depreciation
Depreciation is calculated to write off
the cost of items of property, plant and
equipment, less their estimated residual
value, if any, using the straight line method
over their estimated useful lives as follows:
Estimated
useful lives
Freehold land and construction in
progress are not depreciated
Buildings 20 years
Machinery, electronic equipment
and other equipment 3 to 10 years
Motor vehicles 5 years
Decoration and leasehold
improvements 2 to 5 years