291 348
291
Details of this line item and related movements are as follows:
2.
INTANGIBLE ASSETS
"Land and buildings", with a balance of Euro 24,034
thousand, report an increase of Euro 10,910 thousand mainly
as a result of the spin-off of the Ansaldo 20 property complex
in Milan from the subsidiary Fibre Ottiche Sud – F.O.S. S.r.l.
to Prysmian S.p.A.. The site of the property complex will
undergo renovations that will transform it into the Prysmian
Group's new headquarters. This spin-off, completed on 19
February 2014 but effective 1 March 2014, was valued at Euro
14,772 thousand, of which Euro 11,402 thousand allocated to
"Land and buildings" and Euro 3,370 thousand to "Assets
under construction".
In addition to the above property, "Land and buildings"
include a leased building located in Milan (net book value
of Euro 12,708 thousand at 31 December 2014), whose lease
expires on 27 January 2027 and contains a purchase option;
the remainder of the total net book value of "Land and
buildings" refers to expenditure on rented properties.
"Plant and machinery" (Euro 1,888 thousand) and
"Equipment" (Euro 1,059 thousand) mostly refer to instru-
mentation used for Research and Development activities.
"Other assets" (Euro 1,298 thousand) comprise Euro 1,276
thousand in office furniture and equipment and Euro 22
thousand in motor and other vehicles.
"Assets under construction and advances" (Euro 5,347
thousand) mostly refer to plant and machinery that will be
used for Research and Development and which are expected
to become available for use in the next year, and to expendi-
ture incurred for constructing the Group's new headquarters.
No borrowing costs were capitalised during the year.
Patents
Concessions,
Software Other intangible
Intangibles in
Total
licences,
assets
progress and
trademarks and
advances
similar rights
Balance at 31 December 2013
4,253
2,768
30,204
-
3,958 41,183
Movements in 2014:
- Investments
-
229
4,440
-
6,282 10,951
- of which internally generated intangible assets
-
-
4,440
-
4,767
9,207
- Amortisation
(1,192)
(779)
(6,170)
(8)
-
(8,149)
- Reclassifications
-
765
2,413
57
(3,226)
9
Total movements
(1,192)
215
683
49
3,056 2,811
Balance at 31 December 2014
3,061
2,983
30,887
49
7,014 43,994
Of which:
- Historical cost
11,394
4,403
63,358
57
7,014 86,226
- Accumulated amortisation and impairment
(8,333)
(1,420)
(32,471)
(8)
- (42,232)
Net book value
3,061
2,983
30,887
49
7,014 43,994
(in thousands of Euro)