| 2021-12-31 Group |
Buildings & land | Investments in property belonging to third party | Machinery | Equipment | Right-of-use assets for leased premises | Right-of-use assets, other | Total |
|---|---|---|---|---|---|---|---|
| Accumulated cost | |||||||
| Opening balance | 41.8 | 13.4 | 96.8 | 446.4 | 270.5 | 128.6 | 997.5 |
| Corporate acquisitions | – | 3.9 | 19.8 | 322.9 | 151.2 | 31.6 | 529.4 |
| Investments | 0.5 | 3.6 | 4.7 | 92.7 | 48.6 | 34.8 | 184.9 |
| Divestments and disposals | – | -0.4 | -0.4 | -50.1 | -8.1 | -22.6 | -81.6 |
| Reclassifications | – | -0.3 | – | 0.2 | – | – | -0.1 |
| Translation effect for the year | 0.8 | 0.2 | 1.6 | 7.7 | 5.7 | 2.6 | 18.6 |
| Closing balance | 43.1 | 20.4 | 122.5 | 819.8 | 467.9 | 175.0 | 1,648.7 |
| Accumulated depreciation and impairment losses | |||||||
| Opening balance | -18.2 | -10.2 | -66.5 | -299.6 | -102.2 | -67.1 | -563.8 |
| Corporate acquisitions | – | -3.4 | -16.5 | -260.0 | -25.2 | -5.3 | -310.4 |
| Depreciation and amortisation | -1.0 | -0.8 | -5.4 | -72.4 | -79.8 | -42.0 | -201.4 |
| Divestments and disposals | – | 0.4 | 0.4 | 44.1 | 5.3 | 14.1 | 64.3 |
| Reclassifications | – | – | – | 1.7 | – | - | 1.7 |
| Translation effect for the year | -0.4 | -0.2 | -1.2 | -5.1 | -3.6 | -1.4 | -11.9 |
| Closing balance | -19.6 | -14.2 | -89.2 | -591.3 | -205.5 | -101.7 | -1,021.5 |
| Carrying amount at year-end | 23.5 | 6.2 | 33.3 | 228.5 | 262.4 | 73.3 | 627.2 |
| Carrying amount at start of year | 23.6 | 3.2 | 30.3 | 146.8 | 168.3 | 61.5 | 433.6 |
| 2020-12-31 Group |
Buildings & land | Investments in property belonging to third party | Machinery | Equipment | Right-of-use assets for leased premises | Right-of-use assets, other | Total |
|---|---|---|---|---|---|---|---|
| Accumulated cost | |||||||
| Opening balance | 15.8 | 12.5 | 46.0 | 327.2 | 196.5 | 103.6 | 701.5 |
| Corporate acquisitions | 26.6 | 1.2 | 48.9 | 89.8 | – | – | 166.5 |
| Investments | – | 0.5 | 2.9 | 57.7 | 88.4 | 34.3 | 183.8 |
| Divestments and disposals | – | 0.0 | – | -26.7 | -8.8 | -5.8 | -41.3 |
| Reclassifications | – | -0.3 | – | 11.2 | – | – | 10.9 |
| Translation effect for the year | -0.6 | -0.5 | -1.0 | -12.8 | -5.6 | -3.5 | -24.0 |
| Closing balance | 41.8 | 13.4 | 96.8 | 446.4 | 270.5 | 128.6 | 997.4 |
| Accumulated depreciation and impairment losses | |||||||
| Opening balance | -6.5 | -9.2 | -28.1 | -219.4 | -49.7 | -35.9 | -348.8 |
| Corporate acquisitions | -11.3 | -0.4 | -36.1 | -68.6 | – | – | -116.4 |
| Depreciation and amortisation | -0.6 | -0.9 | -3.2 | -44.8 | -58.1 | -36.9 | -144.5 |
| Divestments and disposals | – | – | – | 7.8 | 2.4 | 3.2 | 13.4 |
| Reclassifications | – | – | – | 15.0 | – | – | 15.0 |
| Translation effect for the year | 0.2 | 0.3 | 0.9 | 10.4 | 3.2 | 2.5 | 17.5 |
| Closing balance | -18.2 | -10.2 | -66.5 | -299.6 | -102.2 | -67.1 | -563.8 |
| Carrying amount at year-end | 23.6 | 3.2 | 30.3 | 146.8 | 168.3 | 61.5 | 433.6 |
| Carrying amount at start of year | 9.3 | 3.3 | 17.9 | 107.8 | 146.8 | 67.7 | 352.7 |
| 2021-12-31 | 2020-12-31 | |||
|---|---|---|---|---|
| Parent company | Equipment | Total | Equipment | Total |
| Accumulated cost | ||||
| Opening balance | 0.9 | 0.9 | 0.2 | 0.2 |
| Investments | 0.1 | 0.1 | 0.7 | 0.7 |
| At year-end | 1.0 | 1.0 | 0.9 | 0.9 |
| Accumulated amortisation | ||||
| Opening balance | -0.3 | -0.3 | -0.1 | -0.1 |
| Depreciation and amortisation | -0.2 | -0.2 | -0.2 | -0.2 |
| Closing balance | -0.5 | -0.5 | -0.3 | -0.3 |
| Carrying amount at year-end | 0.5 | 0.5 | 0.6 | 0.6 |
| Carrying amount at start of year | 0.6 | 0.6 | 0.1 | 0.1 |
Property, plant and equipment are recognised at cost, less accumulated depreciation and any impairment losses. The cost comprises the purchase price, including customs and excise duties, as well as costs directly attributable to the asset to bring it to the location in such condition that it can be used as intended by the acquisition. Discounts and the like are deducted from the purchase price. Examples of directly attributable costs included in the cost are shipping and handling, installation, legal ratification and consulting services.
Additional expenditure for an item of property, plant and equipment is only added to the cost if it increases the future economic benefits. All other expenditure, such as expenditure for repair and maintenance, is expensed on a current basis. A decisive factor as to when an incremental expenditure should be added to the cost is whether the expenditure refers to the replacement of identified components or parts thereof, in which case the expenditure is capitalised. Also, if a new component has been created, the expenditure is added to the cost. Any undepreciated carrying amounts for replaced components, or parts of components, are retired and expensed in conjunction with the replacement.
Depreciation is calculated on a straight line basis over the estimated useful life and taking account of any residual value at the end of that period. Property, plant and equipment comprising parts that have different useful lives are treated as separate components. The carrying amount of an item of property, plant and equipment is removed from the balance sheet upon retirement or disposal of the asset, or when no future economic benefits are expected to be derived from its use. Gains or losses realised upon the disposal or retirement of an asset consist of the difference between the selling price and the carrying amount of the asset, less direct selling expenses. Gains or losses are recognised as other operating income or other operating expense.
| Useful life | |
|---|---|
| Buildings | 20-100 years |
| Equipment | 3-5 years |
| Machinery | 3-10 years |
Right-of-use asset
Leases that are longer than 12 months and of material value are initially recognised as a right-of-use asset and a lease liability in the balance sheet. Right-of-use assets are initially recognised at cost,i.e. the original value of the lease liability as well as other prepaid expenses. After initial recognition, the right-of-use assets are recognized on current account at cost less depreciation. Leasing liabilities are initially recognised at the present value of future unpaid leasing payments. Lease payments are discounted at the incremental borrowing rate. The carrying amount is then increased by interest expense and decreased by paid lease payments. Depreciation of right-to-use assets and interest on lease liabilities are recognised through profit or loss. Payments attributable to amortisation of lease liabilities are recognised in cash flow in financing activities and payments in respect of interest as cash flow from operating activities. The lease liability for the Group's premises with indexation is calculated on the rent that applies at the end of the reporting period. The liability is adjusted in relation to the right-to-use asset. The same approach applies in the case of reassessment such as a lease term (when, for example, the earlier termination date has been passed) or in other significant events within the Group's control. Short-term and low value leases are excluded and are recognised as an expense in profit or loss.