ING Direct 2009 Annual Report Download - page 125

8 PROPERTY AND EQUIPMENT
Property and equipment by type
2009 2008
Property in own use 1,686 1,841
Equipment 1,442 1,407
Assets under operating leases 2,991 3,148
6,119 6,396
Property in own use by banking and insurance operations
2009 2008
Banking operations 1,364 1,447
Insurance operations 322 394
1,686 1,841
Changes in property in own use
2009 2008
Opening balance 1,841 2,069
Additions 46 85
Changes in the composition of the group –2 –150
Transfers to and from Real estate investments –58 38
Transfers to and from Other assets –24 5
Depreciation –33 –39
Revaluations –51 –5
Impairments –8 –1
Reversal of impairments 12
Disposals –37 –114
Exchange rate differences –1 –47
Other changes 1
Closing balance 1,686 1,841
Gross carrying amount as at 31 December 2,574 2,701
Accumulated depreciation as at 31 December –764 –755
Accumulated impairments as at 31 December –124 –105
Net book value 1,686 1,841
Revaluation surplus
Opening balance 606 633
Revaluation in year –3 –48
Released in year –72 21
Closing balance 531 606
The cost or the purchase price amounted to EUR 2,043 million (2008: EUR 2,087 million). Cost less accumulated depreciation
and impairments would have been EUR 1,155 million (2008: EUR 1,226 million).
Property in own use by year of most recent appraisal by independently qualified valuers (in percentages)
2009
Most recent appraisal in 2009 39
Most recent appraisal in 2008 28
Most recent appraisal in 2007 18
Most recent appraisal in 2006 7
Most recent appraisal in 2005 8
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2.1 Consolidated annual accounts
ING Group Annual Report 2009 123
Notes to the consolidated balance sheet of ING Group (continued)