29. Property, plant and equipment
[Financial notes are presented in PLN thousand]
Significant accounting policies
Property, plant and equipment are defined as controlled non-current assets and assets under construction. Non-current assets include certain tangible assets with an expected useful life longer than one year, which are maintained for the purpose of own use or to be leased to other entities.
Property, plant and equipment are recognized at historical cost less accumulated depreciation and accumulated impairment write downs. Historical cost consists of purchase price or development cost and costs directly related to the purchase of a given asset.
Each component of property, plant and equipment, the purchase price or production cost of which is significant compared to the purchase price or production cost of the entire item is a subject to separate depreciation. The Group separates the initial value of property, plant and equipment into its significant parts.
Subsequent expenditures relating to property plant and equipment are capitalized only when it is probable that such expenditures will result in future economic benefits to the Group, and the cost of such expenses can be reliably measured.
Service and maintenance costs of property, plant and equipment are expensed in the reporting period in which they have been incurred.
Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognized as an expense.
Financial data
31.12.2022 | 31.12.2021 | |
---|---|---|
Non-current assets, including: | 1 445 902 | 1 720 780 |
land and buildings | 880 117 | 1 099 493 |
machinery and equipment | 360 140 | 387 813 |
transport vehicles | 106 867 | 122 782 |
other | 98 778 | 110 692 |
Non-current assets under construction and prepayments | 126 191 | 109 451 |
Total | 1 572 093 | 1 830 231 |
2022 | LANDS AND BUILDINGS | MACHINERY AND EQUIPMENT | MEANS OF TRANSPORTATION | OTHER | NON-CURRENT ASSETS UNDER CONSTRUCTION | TOTAL |
GROSS VALUE | ||||||
Opening balance | 2 840 344 | 1 530 601 | 178 234 | 466 663 | 109 451 | 5 125 293 |
Increases, including: | 57 231 | 89 945 | 15 734 | 10221 | 140 449 | 313 580 |
acquisitions | 10 615 | 8 045 | 10 780 | 80 | 140 449 | 169 969 |
transfer from non-current assets under construction | 21 634 | 81 570 | 1 673 | 10 141 | – | 115 018 |
other | 24 982 | 330 | 3 281 | – | – | 28 593 |
Decreases, including: | (168 731) | (51 367) | (36 680) | (20 141) | (123 709) | (400 628) |
liquidation and sale | (99 387) | (46 245) | (35 305) | (20 139) | – | (201 076) |
transfer to non-current assets held for sale | (65 868) | (5 122) | – | – | – | (70 990) |
transfer from non-current assets under construction | – | – | – | – | (115 018) | (115 018) |
other | (3 476) | – | (1 375) | -2 | (8 691) | (13 544) |
Closing balance | 2 728 844 | 1 569 179 | 157 288 | 456 743 | 126 191 | 5 038 245 |
ACCUMULATED DEPRECIATION | ||||||
Opening balance | 1 716 962 | 1 141 451 | 52 956 | 355 944 | – | 3 267 313 |
Increases, including: | 170 657 | 113 437 | 20 429 | 21 665 | – | 326 188 |
depreciation | 170 305 | 113 437 | 13 097 | 21 665 | – | 318 504 |
other | 352 | – | 7 332 | – | – | 7 684 |
Decreases, including: | (100 715) | (50 338) | (24 979) | (19 693) | – | (195 725) |
liquidation and sale | (61 635) | (45 736) | (24 800) | (19 693) | – | (151 864) |
transfer to non-current assets held for sale | (37 451) | (4 602) | – | – | – | (42 053) |
other | (1 629) | – | (179) | – | – | (1 808) |
Closing balance | 1 786 904 | 1 204 550 | 48 406 | 357 916 | – | 3 397 776 |
IMPAIRMENT | ||||||
Opening balance | 23 889 | 1 337 | 2 496 | 27 | – | 27 749 |
Increases | 43 535 | 3 198 | 961 | 22 | – | 47 716 |
Decreases | (5 601) | (46) | (1 442) | – | – | (7 089) |
Closing balance | 61 823 | 4 489 | 2 015 | 49 | – | 68 376 |
NET VALUE | ||||||
Opening balance | 1 099 493 | 387 813 | 122 782 | 110 692 | 109 451 | 1 830 231 |
Closing balance | 880 117 | 360 140 | 106 867 | 98 778 | 126 191 | 1 572 093 |
2021 | LANDS AND BUILDINGS | MACHINERY AND EQUIPMENT | MEANS OF TRANSPORTATION | OTHER | NON-CURRENT ASSETS UNDER CONSTRUCTION | TOTAL |
GROSS VALUE | ||||||
Opening balance | 2 948 720 | 1 555 430 | 155 341 | 490 811 | 128 101 | 5 278 403 |
Increases, including: | 107 556 | 139 732 | 87 507 | 24 420 | 129 167 | 488 382 |
acquisitions | 12 646 | 6 083 | 82 570 | 235 | 129 103 | 230 637 |
transfer from non-current assets under construction | 19 039 | 100 820 | 2 | 20 185 | – | 140 046 |
increases due to the acquisition of Idea Bank S.A | – | 22 880 | 2 656 | 3 369 | 64 | 28 969 |
other | 75 871 | 9 949 | 2 279 | 631 | – | 88 730 |
Decreases, including: | (215 932) | (164 561) | (64 614) | (48 568) | (147 817) | (641 492) |
liquidation and sale | (72 439) | (163 459) | (63 807) | (48 227) | – | (347 932) |
transfer to non-current assets held for sale | (7 209) | (1 061) | (210) | (341) | – | (8 821) |
transfer from non-current assets under construction | – | – | – | – | (140 046) | (140 046) |
other | (136 284) | (41) | (597) | – | (7 771) | (144 693) |
Closing balance | 2 840 344 | 1 530 601 | 178 234 | 466 663 | 109 451 | 5 125 293 |
ACCUMULATED DEPRECIATION | ||||||
Opening balance | 1 718 162 | 1 168 980 | 81 171 | 381 647 | – | 3 349 960 |
Increases, including: | 179 021 | 109 876 | 22 310 | 21 044 | – | 332 251 |
depreciation | 175 433 | 109 876 | 14 527 | 21 044 | – | 320 880 |
other | 3 588 | – | 7 783 | – | – | 11 371 |
Decreases, including: | (180 221) | (137 405) | (50 525) | (46 747) | – | (414 898) |
liquidation and sale | (68 268) | (136 567) | (50 187) | (46 293) | – | (301 315) |
transfer to non-current assets held for sale | (5 248) | (838) | (104) | (278) | – | (6 468) |
other | (106 705) | – | (234) | (176) | – | (107 115) |
Closing balance | 1 716 962 | 1 141 451 | 52 956 | 355 944 | – | 3 267 313 |
IMPAIRMENT | ||||||
Opening balance | 6 416 | 1 732 | 763 | 85 | – | 8 996 |
Increases | 18 438 | – | 1 733 | – | – | 20 171 |
Decreases | (965) | (395) | – | (58) | – | (1 418) |
Closing balance | 23 889 | 1 337 | 2 496 | 27 | – | 27 749 |
NET VALUE | ||||||
Opening balance | 1 224 142 | 384 718 | 73 407 | 109 079 | 128 101 | 1 919 447 |
Closing balance | 1 099 493 | 387 813 | 122 782 | 110 692 | 109 451 | 1 830 231 |
In the period from 1 January to 31 December 2022 the Group acquired ‘Property, plant and equipment’ amounted PLN 169 969 thousand (in 2021 – PLN 230 637 thousand), while the value of property, plant and equipment sold amounted to PLN 39 313 thousand (in 2021 – PLN 28 317 thousand).
The amount of compensations received from third parties for impairment of loss of property, plant and equipment items recognized in the income statement for 2021 stood at PLN 2 241 thousand (in 2021 – PLN 1 570 thousand).
In the period from 1 January to 31 December 2022 and in 2021 there have been no property, plant and equipment whose title is restricted and pledged as security for liabilities.
Contractual commitments
As at 31 December 2022 the contractual commitments for the acquisition of property, plant and equipment amounted to PLN 11 815 thousand, (as at 31 December 2021 – PLN 8 498 thousand).