Repower - Annual Report 2018

15 Tangible assets

	Power plants	Grids	Assets under construction	Land and buildings	Other	Total
CHF thousand

Gross values at 1 January 2018	900,382	758,671	80,864	72,293	53,565	1,865,775
Own costs capitalised	-	345	6,601	-	-	6,946
Additions	77	389	18,493	151	2,015	21,125
Additions from changes in consolidation	110,117	-	4,937	8	6	115,068
Disposals	-	–6,089	–9,522	–14	–125	–15,750
Reclassifications between asset classes	320	18,165	–19,542	–68	1,125	-
Effect of currency translation	–16,039	-	–309	–639	–848	–17,835
Gross values at 31 December 2018	994,857	771,481	81,522	71,731	55,738	1,975,329

Accumulated depreciation and value adjustments at 1 January 2018	–546,331	–439,179	–69,485	–33,627	–31,987	–1,120,609
Depreciation	–21,340	–17,226	-	–670	–4,223	–43,459
Disposals	-	4,941	9,517	14	118	14,590
Reclassifications between asset classes	-	–12	-	12	-	-
Effect of currency translation	9,627	-	188	574	437	10,826
Accumulated depreciation and value adjustments at 31 December 2018	–558,044	–451,476	–59,780	–33,697	–35,655	–1,138,652
Net values at 31 December 2018	436,813	320,005	21,742	38,034	20,083	836,677
of which security pledged for debts						53,565

Gross values at 1 January 2019	994,857	771,481	81,522	71,731	55,738	1,975,329
Own costs capitalised	-	330	6,082	-	-	6,412
Additions	189	262	27,331	22	2,438	30,242
Disposals	-	–14,791	–52,897	–73	–445	–68,206
Disposals from changes in consolidation	-	-	-	-	–2,394	–2,394
Reclassifications between asset classes	8,630	18,034	–28,181	10	1,728	221
Effect of currency translation	–18,863	-	–499	–603	–872	–20,837
Gross values at 31 December 2019	984,813	775,316	33,358	71,087	56,193	1,920,767

Accumulated depreciation and value adjustments at 1 January 2019	–558,044	–451,476	–59,780	–33,697	–35,655	–1,138,652
Depreciation	–25,283	–17,229	-	–679	–4,129	–47,320
Impairments	-	-	–1,983	-	-	–1,983
Disposals	-	10,713	52,094	43	343	63,193
Disposals from changes in consolidation	-	-	-	-	2,019	2,019
Effect of currency translation	9,807	-	178	550	480	11,015
Accumulated depreciation and value adjustments at 31 December 2019	–573,520	–457,992	–9,491	–33,783	–36,942	–1,111,728
Net values at 31 December 2019	411,293	317,324	23,867	37,304	19,251	809,039
of which security pledged for debts						77,953

Land and buildings connected with power generation and grid facilities are accounted for under power plants and grid assets.

The increase in the net values of tangible assets pledged as security for debts relates essentially to a bank loan taken up in the 2019 financial year.

The impairment charge recognised in 2019 related to a payment to a supplier that was unable to meet its obligation. In this context a good performance guarantee was collected for an amount of CHF 967 thousand. The income is recognised as other operating income (see Note 4).

LEASED POWER PLANTS

CHF 47,469 thousand of the addition in scope of consolidation the prior year relates to leased power plants (see the “Additions to the scope of consolidation“ section).

The net carrying amount of the generation assets held as part of the finance leasing agreement totalled CHF 41,057 thousand (previous year: CHF 46,721 thousand) at the closing date.

Total lease liabilities come to CHF 27,431 thousand (prior year: CHF 31,375 thousand).