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11. PROPERTY, PLANT AND EQUIPMENT
Movement of property, plant and equipment, related accumulated depreciation and provision for impairment for the year ended 31 December 2014 is as follows:
(*) As of 31 December 2014, USD 79,772 of transfer to rights.
The amount of borrowing costs capitalized during the year is USD 2,342,162 (2013: USD 887,548).
The rate used to determine the amount of borrowing costs eligible for capitalization was between Libor+3.14% and Libor+4%, which is the effective interest rate of the related borrowings
(2013: Libor+3.14% and Libor+4%).
Accumulated
Currency
31 December
Additions
Disposals Transfers (*) Revaluation depreciation net off of
translation 31 December
2013
increase valued fixed assets
reserve
2014
Cost
Land and buildings
657,724,113 3,129,431 (1,342,371)
81,941,704 169,928,537
(96,064,988)
(29,511,640)
785,804,786
Machinery and equipment
668,055,719 50,645,716 (26,047,131)
130,009,451 56,507,098
(176,634,198)
(10,984,375)
691,552,280
Motor vehicles
204,866,085 89,878,033 (65,538,302)
490,780
-
-
(15,074,360)
214,622,236
Furniture and fixtures
130,423,431 6,871,400 (1,991,285)
5,265,020
-
-
(7,674,128)
132,894,438
Leasehold improvements
127,483,644 3,240,747 (6,567,225)
295,529
-
-
(2,787,938)
121,664,757
Other tangible assets
1,331,667
-
-
(491,628)
-
-
(15,655)
824,384
Construction in progress
180,867,500 95,146,777 (12,224,020)
(217,590,628)
-
-
(3,173,335)
43,026,294
1,970,752,159 248,912,104 (113,710,334)
(79,772)
226,435,635
(272,699,186)
(69,221,431)
1,990,389,175
Less: Accumulated Depreciation
Buildings
(62,765,380)
(36,898,943)
122,595
-
-
96,064,988
3,476,740
-
Machinery and equipment
(224,265,593)
(42,560,530)
3,491,797
-
-
176,634,198
13,974,757 (72,725,371)
Motor vehicles
(77,864,235)
(15,528,919)
16,837,591
-
-
-
3,694,423 (72,861,140)
Furniture and fixtures
(90,665,915)
(7,667,402)
669,056
-
-
-
6,430,557 (91,233,704)
Leasehold improvements
(33,727,978)
(2,108,585)
1,152,317
-
-
-
5,265,451 (29,418,795)
Other tangible assets
(262,016)
(4,124,942)
-
-
-
-
13,652
(4,373,306)
(489,551,117) (108,889,321)
22,273,356
-
-
272,699,186
32,855,580 (270,612,316)
Net book value
1,481,201,042 140,022,783 (91,436,978)
(79,772)
226,435,635
-
(36,365,851)
1,719,776,859
BORUSAN HOLDING A.Ş. AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014
(Currency - US Dollars (“USD”) unless otherwise indicated)