Note 7 - Property, plant and equipment
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Office |
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Land and buildings |
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Leasehold |
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Machinery and equipment |
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furniture and |
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(in thousands) |
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Cost |
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Grants |
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improvements |
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Cost |
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Grants |
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equipment |
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Cylinders |
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Vehicles |
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Total |
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Cost |
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Balance as of January 1, 2016 |
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65,887 |
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(6,487) |
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15,637 |
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135,905 |
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(12,394) |
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18,300 |
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33,272 |
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1,231 |
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251,351 |
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Additions |
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8,596 |
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— |
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274 |
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15,849 |
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— |
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1,669 |
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— |
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49 |
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26,437 |
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Reclassification to assets held for sale |
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(1,702) |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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(1,702) |
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Disposals |
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— |
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— |
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(156) |
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(2,753) |
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— |
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(7,327) |
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(987) |
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(391) |
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(11,614) |
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Reclassification from Inventories |
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— |
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— |
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— |
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— |
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— |
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— |
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1,635 |
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— |
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1,635 |
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Effect of changes in exchange rates |
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— |
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— |
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(52) |
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(227) |
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— |
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(96) |
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(655) |
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5 |
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(1,025) |
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Balance as of December 31, 2016 |
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72,781 |
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(6,487) |
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15,703 |
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148,774 |
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(12,394) |
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12,546 |
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33,265 |
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894 |
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265,082 |
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Additions |
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6,543 |
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(319) |
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403 |
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13,475 |
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(798) |
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2,406 |
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— |
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1 |
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21,711 |
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Disposals |
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— |
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— |
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(75) |
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(11,069) |
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— |
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(1,268) |
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(61) |
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(411) |
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(12,884) |
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Reclassification from Inventories |
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— |
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— |
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— |
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— |
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— |
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— |
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2,448 |
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— |
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2,448 |
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Effect of changes in exchange rates |
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— |
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— |
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326 |
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878 |
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— |
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737 |
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2,804 |
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23 |
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4,768 |
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Balance as of December 31, 2017 |
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79,324 |
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(6,806) |
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16,357 |
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152,058 |
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(13,192) |
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14,421 |
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38,456 |
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507 |
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281,125 |
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Accumulated depreciation |
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Balance as of January 1, 2016 |
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927 |
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(86) |
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11,836 |
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66,050 |
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(5,793) |
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14,569 |
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7,447 |
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1,107 |
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96,057 |
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Depreciation for the year |
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983 |
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(120) |
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236 |
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12,154 |
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(1,027) |
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2,086 |
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1,635 |
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65 |
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16,012 |
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Reclassification to assets held for sale |
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(218) |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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(218) |
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Disposals |
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— |
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— |
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(150) |
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(2,574) |
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— |
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(7,388) |
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(485) |
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(348) |
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(10,945) |
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Effect of changes in exchange rates |
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— |
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— |
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(39) |
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(125) |
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— |
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(131) |
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(163) |
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6 |
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(452) |
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Balance as of December 31, 2016 |
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1,692 |
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(206) |
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11,883 |
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75,505 |
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(6,820) |
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9,136 |
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8,434 |
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830 |
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100,454 |
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Depreciation for the year |
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1,010 |
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(136) |
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879 |
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17,423 |
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(1,377) |
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1,627 |
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(114) |
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24 |
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19,336 |
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Disposals |
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— |
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— |
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(65) |
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(10,489) |
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— |
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(1,265) |
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(16) |
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(396) |
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(12,231) |
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Effect of changes in exchange rates |
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— |
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— |
|
233 |
|
507 |
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— |
|
636 |
|
624 |
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23 |
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2,023 |
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Balance as of December 31, 2017 |
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2,702 |
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(342) |
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12,930 |
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82,946 |
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(8,197) |
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10,134 |
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8,928 |
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481 |
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109,582 |
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Carrying amounts |
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As of January 1, 2016 |
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64,960 |
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(6,401) |
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3,801 |
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69,855 |
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(6,601) |
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3,731 |
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25,825 |
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124 |
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155,294 |
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As of December 31, 2016 |
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71,089 |
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(6,281) |
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3,820 |
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73,269 |
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(5,574) |
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3,410 |
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24,831 |
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64 |
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164,628 |
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As of December 31, 2017 |
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76,622 |
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(6,464) |
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3,427 |
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69,112 |
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(4,995) |
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4,287 |
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29,528 |
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26 |
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171,543 |
Depreciation of machinery equipment (cost and grants), cylinders and vehicles is charged to cost of revenues. Depreciation of other categories of property, plant and equipment is charged to departments that utilize the relevant assets, primarily in cost of revenues and general and administrative expenses.
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A. |
Property, plant and equipment under finance leases |
The Group leases certain property, plant and equipment under a finance lease agreement. As of December 31, 2017, the net carrying amount of the leased land and buildings is $2.0 million (2016: $2.1 million).
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B. |
Property, plant and equipment fully depreciated and still in use |
The Group has assets that have been fully depreciated and are still in use. As of December 31, 2017, the original cost of such assets is $53 million (2016: $45 million).