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LISI 2011 —
49
— financial report
Consolidated financial statements
2.5.1.2 Tangible assets
a) Tangible assets held in full (including evaluation spreads)
(In €’000)
Land
Buildings
Technical
facilities,
equipment
and tools
Other tangible
assets
Current assets
TOTAL
Gross values at December 31, 2010
13,739
105,616
515,033
68,052
22,313
724,753
Acquisitions
671
15,729
48,555
8,013
(6,383)
66,585
Disposals
(60)
(445)
(3,895)
(2,871)
(118)
(7,389)
Scope changes
899
615
35,347
987
3,099
40,947
Exchange rate spreads
(1)
48
2,214
129
179
2,569
Gross values at December 31, 2011
15,248
121,562
597,253
74,311
19,091
827,464
Depreciation at December 31, 2010
6
43,699
365,946
41,393
43
451,087
Depreciation allowance
7
4,326
32,765
5,351
42,449
Depreciation reversals
(5)
(373)
(3,635)
(2,445)
(43)
(6,501)
Scope changes
439
3,688
23,037
1,314
12
28,490
Exchange rate spreads
(36)
1,589
151
1,704
Depreciation at December 31, 2011
447
51,303
419,702
45,765
12
517,228
Net values at December 31, 2011
14,801
70,259
177,552
28,546
19,079
310,237
The increase in tangible assets results primarily from changes in
consolidation scope and acquisitions in the period. The changes in
scope combine the consolidation of the CREUZET arm for €88.1m and
the deconsolidation of LISI COSMETICS for €-47.2m. Most acquisitions
were achieved by the LISI AUTOMOTIVE division for €37.2m and the
LISI AEROSPACE division for €25.6m (including the CREUZET arm for
€3.9m over the first 6 months of the year).
b) Tangible assets held under a finance lease contract
(In €’000)
Land
Buildings
Technical
facilities,
equipment
and tools
Other tangible
assets
Current assets
TOTAL
Gross values at December 31, 2010
5,513
13,312
18,825
Acquisitions
Disposals
Scope changes
5,055
5,274
10,329
Exchange rate spreads
22
14
35
Gross values at December 31, 2011
10,590
18,600
29,190
Depreciation at December 31, 2010
3,278
10,397
13,675
Depreciation allowance
129
820
949
Depreciation reversals
Scope changes
(956)
(1,107)
(2,063)
Exchange rate spreads
1
(8)
(7)
Depreciation at December 31, 2011
2,452
10,102
12,554
Net values at December 31, 2011
8,138
8,498
16,636
Given their immaterial nature, the minimum future payments relative
to rents and their current value are not broken down by maturity.
c) Operating lease agreements
The main assets required for operations that do not belong to the
Group or its subsidiaries are industrial buildings and office space
(head office). Other operating lease agreements mainly relate to office
automation equipment.
No significant commercial leases have been signed with company
executives or with companies belonging to executives or their families.
The total annual expense is approximately €5.7m.