64
JOTUN A/S
7 PROPERTY, PLANT AND EQUIPMENT
MACHINERY,
ELECTRICAL VEHICLES AND CONSTRUCTION
(NOK THOUSAND) LAND BUILDINGS INSTALLATIONS EQUIPMENT IN PROGRESS TOTAL
COST
Balance as of 1 January 2016 14 642 636 482 95 918 947 965 67 946 1 762 955
Additions 6 151 11 627 2 336 52 300 123 403 195 816
Disposals –489 –6 392 – –74 419 – –81 300
Balance as of 31 December 2016 20 304 641 717 98 254 925 846 191 349 1 877 469
Additions 24 636 35 592 25 641 26 194 184 791 296 853
Disposals – –4 176 – –2 362 – –6 538
Balance as of 31 December 2017 44 940 673 132 123 895 949 677 376 140 2 167 783
DEPRECIATION AND IMPAIRMENT
Balance as of 1 January 2016 – –365 751 –30 624 –565 045 – –961 419
Depreciation – –19 467 –9 679 –64 892 – –94 038
Disposals – 1 949 – 73 143 – 75 091
Balance as of 31 December 2016 – –383 269 –40 303 –556 794 – –980 365
Depreciation – –18 927 –11 137 –68 158 – –98 223
Disposals – 2 436 – 2 362 – 4 798
Balance as of 31 December 2017 – –399 760 –51 440 –622 590 – –1 073 790
NET BOOK VALUE
Balance as of 31 December 2017 44 940 273 371 72 455 327 087 376 140 1 093 994
Balance as of 31 December 2016 20 304 258 447 57 951 369 052 191 349 897 103
Property, plant and equipment are depreciated over the following useful lifetimes:
ASSET CATEGORY USEFUL LIFE
Land infinite
Buildings 25 years
Electrical Installations 10 years
Machinery 10 years
Office inventory and furniture 10 years
Office and IT equipment 5 years
Disposals in 2016 are primarily related to demolition at Gimle in preparation for construction of new facilities.
See Group’s note 8 for further information.