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7.7 Tangible assets
Property, plant and equipment is recognised at cost or manufacturing cost less depreciation. The acquisition and production costs include the acquisition costs of property, plant and equipment (PP&E) as well as the directly attributable costs to get such assets into an operational state for their planned use.
Depreciation begins as soon as the fixed asset is ready for use or is operational. Land is not subject to depreciation. The operating life per asset category is as follows:
|Machinery and technical installations||5–10|
|Fixed facilities and renovations||10–28|
|Movable properties, leasehold improvements, vehicles||4–10|
|IT systems (hardware)||3–5|
Buildings under construction are fixed assets that are not yet finished or not yet operational. They are valued at accumulated acquisition or production costs and are not depreciated.