5 2020 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
Property, plant and equipment essentially consists of land and buildings, fixtures and fittings, office furniture and equipment, and IT equipment. Property, plant and equipment is measured at acquisition cost (excluding any borrowing costs) less accumulated depreciation and any impairment losses. No amounts have been remeasured. Depreciation is calculated using the straight-line method over the expected useful lives of each of the following fixed asset categories:
buildings: 25 to 30 years; p fixtures and fittings: 4 to 10 years; p IT hardware and equipment: 3 to 8 years; p vehicles: 4 to 5 years; p office furniture and equipment: 4 to 10 years. p
Depreciation is applied against assets’ acquisition cost after deducting any residual value. Assets’ residual values and expected useful lives are reviewed at each balance sheet date.
LEASES NOTE 9
Right-of-use assets by category of leased assets 9.1.