13. Property, plant and equipment

Excel

(€ in thousands)

Furniture and fixture

Computer and harware

Other1

Total

BALANCE AS AT 31 DECEMBER 2012

Investment cost

18,069

70,703

43,383

132,155

Accumulated amortisation and impairment

–16,340

–58,404

–30,641

–105,385

1,729

12,299

12,742

26,770

Movements

Investments

810

7,467

8,600

16,877

Transfer between categories

25

1,500

–1,525

0

Acquisitions through business combination

0

466

0

466

Disposals (net)

–61

–233

–817

–1,111

Depreciation charges

–643

–8,593

–7,779

–17,015

Currency translation differences

–122

–151

90

–183

9

456

–1,431

–966

BALANCE AS AT 31 DECEMBER 2013

Investment cost

14,328

51,638

48,089

114,055

Accumulated amortisation and impairment

–12,590

–38,883

–36,778

–88,251

1,738

12,755

11,311

25,804

Movements

Investments

1,945

8,186

6,354

16,485

Transfer between categories

270

297

–567

0

Acquisitions through business combination

6

303

10

319

Disposals (net)2

–60

–73

–50

–183

Depreciation charges

–647

–5,859

–6,116

–12,622

Net foreign currency exchange differences

86

242

163

491

1,600

3,096

–206

4,490

BALANCE AS AT 31 DECEMBER 2014

Investment cost

10,499

53,769

36,811

101,079

Accumulated amortisation and impairment

–7,161

–37,918

–25,706

–70,785

3,338

15,851

11,105

30,294

  1. Other assets balance as at 31 December 2014 mainly comprises of leasehold improvements with a carrying value of €4.2 million (31 December 2013: €5.0 million).
  2. The total gross amount of the assets disposed across all asset classes was €31.8 million.

The costs for operating leases in 2014 amounted to €13.0 million (2013: €15.5 million).

Accounting policy

The group leases certain property, plant and equipment. Leases are classified as finance leases whenever the terms of the lease substantially transfer all the risks and rewards of ownership to the group. All other leases are classified as operating leases. Rentals payable under operating leases are charged to income on a straight-line basis over the term of the relevant lease. Benefits received and receivable as an incentive to enter into an operating lease are also spread on a straight-line basis over the lease term.

Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment charges. Depreciation is recorded on a straight-line basis over the estimated useful lives of the assets as follows:

The estimated useful lives, residual values and depreciation methods are reviewed at each year-end, with the effect that any changes in estimate are accounted for on a prospective basis.

The gain or loss arising on disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset, and is recognised in profit or loss.