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Annual
Report 2022

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).

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