Singapore Airlines 2009 Annual Report Download - page 103
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101
2 Accounting Policies (continued)
(h) Depreciation of property, plant and equipment
Property, plant and equipment are depreciated on a straight-line basis at rates which are calculated to
write-down their cost to their estimated residual values at the end of their operational lives. Operational
lives, residual values and depreciation method are reviewed annually in the light of experience and
changing circumstances, and adjusted as appropriate at each balance sheet date.
Freehold land, advance and progress payments are not depreciated.
Fully depreciated assets are retained in the fi nancial statements until they are no longer in use.
No depreciation is charged after assets are depreciated to their residual values.
(i) Aircraft, spares and spare engines
The Group depreciates its new passenger aircraft, spares and spare engines over 15 years to 10%
residual values. For used passenger aircraft, the Group depreciates them over the remaining life
(15 years less age of aircraft) to 10% residual values.
The Group depreciates its new freighter aircraft over 15 years to 20% residual values. For used
freighter aircraft, the Group depreciates them over the remaining life (15 years less age of aircraft) to
20% residual value.
Major inspection costs relating to heavy maintenance visits and engine overhauls (including inspection
costs provided under “power-by-hour” maintenance agreements) are capitalised and depreciated over
the average expected life between major overhauls, estimated to be 4 to 10 years.
Flight simulators and training aircraft are depreciated over 10 years to nil residual values, and 5 years
to 20% residual values respectively.
(ii) Land and buildings
Freehold buildings, leasehold land and buildings are depreciated to nil residual values as follows:
Company owned offi ce premises - according to lease period or 30 years, whichever is
the shorter.
Company owned household premises - according to lease period or 10 years, whichever is
the shorter.
Other premises - according to lease period or 5 years, whichever is
the shorter.
(iii) Others
Plant and equipment, offi ce and computer equipment are depreciated over 1 to 12 years to nil
residual values.