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Home Financial statements Notes and Rio Tinto plc info Note 13 - Property, plant and equipment

2007 Financial statements

Note 13 - Property, plant and equipment

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Year ended 31 December 2007		 Mining
properties
and leases(a)
US$m		 Land
and
buildings
US$m		 Plant
and
equipment
US$m		 Capital
works in
progress
US$m		 Total


US$m
Net book value          
At 1 January 2007 6,127 2,540 10,839 2,701 22,207
Adjustment on currency translation 511 261 1,163 266 2,201
Capitalisation of additional closure costs (note 27) 284 - - 9 293
Interest capitalised (b) - - 91 31 122
Acquisition of subsidiary (note 41) 598 4,415 11,485 1,784 18,282
Other additions 207 169 1,754 2,462 4,592
Depreciation for the year (a) (496) (191) (1,314) - (2,001)
Impairment (charges)/reversals (203) 11 297 (189) (84)
Disposals (12) (33) (38) - (83)
Transfers and other movements (c) 484 (183) 1,428 (1,611) 118
At 31 December 2007 7,500 6,989 25,705 5,453 45,647
- cost 11,280 8,952 38,015 5,813 64,060
- accumulated depreciation (3,780) (1,963) (12,310) (360) (18,413)
Fixed assets held under finance leases (d) - 30 42 - 72
Other fixed assets pledged as security (e) 31 - 1,792 - 1,823





Year ended 31 December 2006		 Mining
properties
and leases(a)
US$m 		Land
and
buildings
US$m 		Plant
and
equipment
US$m 		Capital
works in
progress
US$m 		Total


US$m
Net book value          
At 1 January 2006 5,224 2,019 8,678 1,699 17,620
Adjustment on currency translation 261 88 411 105 865
Capitalisation of additional closure costs (note 27) 619 - - - 619
Interest capitalised (b) 5 - 3 52 60
Other additions 436 194 986 2,278 3,894
Depreciation for the year (a) (432) (159) (891) - (1,482)
Impairment (charges)/reversals (166) 90 752 (2) 674
Disposals (25) (13) (50) (21) (109)
Transfers and other movements (c) 205 321 950 (1,410) 66
At 31 December 2006 6,127 2,540 10,839 2,701 22,207
- cost 9,166 4,454 21,553 2,835 38,008
- accumulated depreciation (3,039) (1,914) (10,714) (134) (15,801)
At 1 January 2006
- cost 7,686 3,824 19,382 1,838 32,730
- accumulated depreciation (2,462) (1,805) (10,704) (139) (15,110)
Fixed assets held under finance leases (d) - 39 38 - 77
Other fixed assets pledged as security (e) 35 - 1,154 - 1,189

 
Notes Expand
  1. Mining properties include deferred stripping costs of US$718 million (2006: US$778 million). Amortisation of deferred stripping costs of US$34 million (2006: US$40 million) is included within 'Depreciation for the year'.
  2. Interest is capitalised at a rate based on the Group's cost of borrowing or at the rate on project specific debt, where applicable.
  3. 'Transfers and other movements' includes reclassifications between categories.
  4. The finance leases under which these assets are held are disclosed in note 23.
  5. Excludes assets held under finance leases. Fixed assets pledged as security represent amounts pledged as collateral against US$291 million (2006: US$339 million) of loans, which are included in note 22.
  6. At 31 December 2007 the net balance sheet amount for land and buildings includes freehold US$6,821 million (2006: US$2,445 million); long leasehold US$163 million (2006: US$92 million); and short leasehold US$5 million (2006: US$3 million).

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