23 – Property and Equipment


in € m.

Owner occupied properties

Furniture and equipment

Leasehold improvements

Construction-in-progress

Total

Cost of acquisition:

 

 

 

 

 

Balance as of January 1, 2011

4,646

3,621

1,813

298

10,378

Changes in the group of consolidated companies

(18)

(2)

(20)

Additions

31

309

111

343

794

Transfers

1

263

127

(209)

182

Reclassifications (to)/from 'held for sale'

(354)

(108)

(4)

(466)

Disposals

57

179

95

331

Exchange rate changes

53

29

17

1

100

Balance as of December 31, 2011

4,302

3,933

1,973

429

10,637

Changes in the group of consolidated companies

1

3

4

Additions

18

327

132

137

614

Transfers

(20)

42

116

(323)

(185)

Reclassifications (to)/from 'held for sale'

(96)

(6)

(102)

Disposals

146

210

66

422

Exchange rate changes

(40)

(33)

(12)

(8)

(93)

Balance as of December 31, 2012

4,018

4,054

2,146

235

10,453

 

 

 

 

 

 

Accumulated depreciation and impairment:

 

 

 

 

 

Balance as of January 1, 2011

1,330

2,132

1,114

4,576

Changes in the group of consolidated companies

(1)

1

Depreciation

86

389

138

613

Impairment losses

137

5

1

143

Reversals of impairment losses

Transfers

(4)

76

(7)

65

Reclassifications (to)/from 'held for sale'

(94)

3

(2)

(93)

Disposals

19

149

74

242

Exchange rate changes

22

28

16

66

Balance as of December 31, 2011

1,457

2,485

1,186

5,128

Changes in the group of consolidated companies

(0)

(0)

(0)

Depreciation

82

401

155

638

Impairment losses

0

29

0

29

Reversals of impairment losses

0

0

Transfers

4

(1)

(6)

(3)

Reclassifications (to)/from 'held for sale'

(3)

(2)

(1)

(6)

Disposals

54

171

17

242

Exchange rate changes

(18)

(24)

(12)

(54)

Balance as of December 31, 2012

1,468

2,717

1,305

5,490

 

 

 

 

 

 

Carrying amount:

 

 

 

 

 

Balance as of December 31, 2011

2,845

1,448

787

429

5,509

Balance as of December 31, 2012

2,550

1,337

841

235

4,963

Impairment losses on property and equipment are recorded within general and administrative expenses for the income statement.

In 2011 an impairment charge of € 135 million on owner occupied property was taken for The Cosmopolitan of Las Vegas to reflect lower revenue expectations.

In the first quarter 2011 the Group headquarters in Frankfurt am Main previously accounted for as property and equipment was classified as held for sale. For further details on the assets held for sale please refer to Note 26 “Non-Current Assets and Disposal Groups Held for Sale”. For further information on the subsequent sale-and-leaseback transaction please refer to Note 24 “Leases”.

The carrying value of items of property and equipment on which there is a restriction on sale was € 181 million as of December 31, 2012.

Commitments for the acquisition of property and equipment were € 27 million at year-end 2012.

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