12.1 Property, plant and equipment and investment property: breakdown of assets measured at cost

Assets/amounts

31.12.2010

31.12.2009

A. Assets for functional use

 

 

1.1 Owned

33,577

33,774

a) Land

6,738

6,738

b) Buildings

24,444

24,194

c) Furnishings

1,093

1,392

d) Electronic systems

480

473

e) Others

822

977

1.2 Acquired under finance leases

-

-

a) Land

-

-

b) Buildings

-

-

c) Furnishings

-

-

d) Electronic systems

-

-

e) Others

-

-

Total A

33,577

33,774

B. Investment property

 

 

2.1 Owned

732

732

a) Land

 

 

b) Buildings

732

732

2.2 Acquired under finance leases

-

-

a) Land

 

 

b) Buildings

 

 

Total B

732

732

Total(A+B)

34,309

34,506

The property included in consolidated assets under property, plant and equipment for functional use includes: the important historical building, Villa Marocco, located in Mestre and housing Banca IFIS’s Head Office and the property in Mestre-Venice, leased in part to the parent company, La Scogliera S.p.A. The carrying amount of the property above has been confirmed by specific measurement experts.

Further property of insignificant value, amongst which the representative office in Bucharest, is also entered under consolidated property, plant and equipment.

The property included in consolidated assets under investment property includes a management office in Padua and another building of residual value.

12.2 Property, plant and equipment and investment property: breakdown of assets measured at fair value or revalued

There were no property, plant and equipment and investment property valued at fair value or revalued.

12.3 Property, plant and equipment for functional use: annual changes

 

Land

Buildings

Furnishings

Electronic systems

Others

Total31.12.2010

A. Gross opening balances

6,738

24,821

3,417

2,224

2,476

39,676

A.1 Total impairment losses

 

(628)

(2,025)

(1,751)

(1,498)

(5,902)

A.2 Net opening balance

6,738

24,193

1,392

473

978

33,774

B. Increases

-

327

207

415

338

1,287

B.1 Purchases

-

327

207

415

338

1,287

B.2 Capitalised improvement expenses

-

-

-

-

-

-

B.3 Reversals of impairment losses

-

-

-

-

-

-

B.4 Fair value gains taken to:

-

-

-

-

-

-

a) Equity

 

 

 

 

 

 

b) Income statement

 

 

 

 

 

 

B.5 Exchange gains

-

-

-

-

-

-

B.6 Transfers from investment property

-

-

-

-

-

-

B.7 Other increases

-

-

-

-

-

-

C. Reductions

-

(77)

(505)

(407)

(495)

(1,484)

C.1 Sales

-

-

1

-

(155)

(154)

C.2 Depreciation

-

(77)

(506)

(407)

(340)

(1,330)

C.3 Impairment losses taken to:

-

-

-

-

-

-

a) Equity

 

 

 

 

 

 

b) Income statement

 

 

 

 

 

 

C.4 Fair value losses taken to:

-

-

-

-

-

-

a) Equity

 

 

 

 

 

 

b) Income statement

 

 

 

 

 

 

C.5 Exchange losses

-

-

-

-

-

-

C.6 Transfers to

-

-

-

-

-

-

a) Investment property

 

 

 

 

 

-

b) Assets under disposal

 

 

 

 

 

 

C.7 Other reductions

-

-

-

-

-

-

D. Net closing balance

6,738

24,443

1,094

481

821

33,577

D.1 Total net impairment losses

-

705

2,531

2,158

1,838

7,232

D.2 Gross closing balances

6,738

25,148

3,625

2,639

2,659

40,809

E. Measurement at cost

-

-

-

-

-

-

Property, plant and equipment for functional use are measured at cost and are depreciated at constant rates throughout their useful life, with the exclusion of land with an indefinite useful life and the ‘Villa Marocco’ property whose residual value at the end of its useful life is expected to be higher than its carrying amount.

Property, plant and equipment which have still not come into operation at the balance sheet date are not depreciated.

12.4 Investment property: annual changes

 

31.12.2010

Land

Buildings

A. Gross opening balance

-

732

B. Increases

-

-

B.1 Purchases

-

-

B.2 Capitalised improvement expenses

-

-

B.3 Fair value gains:

-

-

B.4 Reversals of impairment losses

-

-

B.5 Exchange gains

-

-

B.6 Transfers from property for functional use

-

-

B.7 Other increases

-

-

C. Reductions

-

-

C.1 Sales

-

-

C.2 Depreciation

-

-

C.3 Fair value losses

-

-

C.4 Impairment losses

-

-

C.5 Exchange losses

-

-

C.6 Transfers to other asset portfolios:

-

-

a) Assets for functional use

 

 

b) Non-current assets under disposal

 

 

C.7 Other reductions

-

-

D. Closing balance

-

732

E. Measurement at fair value

-

-

Property held for investment purposes refers to leased property. This property is not amortised as it is destined for sale.