BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

9-1

Property, plant and equipment – Gross value

Land & buildings

Machinery & equipment

Construction in progress

Other fixed assets

Total

(in thousand euros)

At January 1, 2016

412,722

1,165,174

85,979

30,118

1,693,993 170,618 (40,750) (148,768)

Additions

7,581

39,574

120,870

2,593

Disposals/Write-offs

(656)

(33,758)

(482)

(5,854)

Transfers to non-current assets held for sale (see Note 20)

(42,822)

(103,402)

(1,666)

(879)

Other transfers

12,985

55,171 18,014

(69,723)

1,568

1

Exchange differences At January 1, 2017

6,422

3,388

(271)

27,553

396,233

1,140,773

138,365

27,276

1,702,647 175,336   (32,201)  

Acquisitions

5,663  

35,929  

132,558  

1,185  

Disposals/Write-offs

(1,194)   31,288   (18,006)  

(26,172)  

(2,585)  

(2,249)  

Other transfers

58,820  

(90 608) 

  499   (617)  

-

Exchange differences

(40,642)  

(6,648)  

(65,912)  

Reintegration of non-current assets held for sale at December 31, 2016 not sold in 2017

5,716  

16,810  

99  

907  

23,533  

At December 31, 2017

419,701

1,185,519

171,181

27,000

1,803,402

The gross value of property, plant and equipment includes 2.6 million euros of finance lease assets as of December 31, 2017 (8 million euros as of December 31, 2016).

9-2

Property, plant and equipment - Depreciation and impairment loss

Accounting policies At each balance sheet date, the Group reviews the carrying amount of its property, plant and equipment and intangible assets to determine whether there is any indication that these assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine, if applicable, the amount of the impairment loss. When it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount is the higher of fair value less cost to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessment of the time value of money and the risk specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount. However, the increased carrying amount should not exceed the carrying amount that would have been determined if no impairment loss had been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation decrease.

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BIC GROUP - 2017 REGISTRATION DOCUMENT