| Land and buildings $ million |
Plant, equipment and vehicles $ million |
Assets under construction $ million |
Total $ million |
|
|---|---|---|---|---|
| Cost | ||||
| As at 29 December 2007 | 699.5 | 2,563.7 | 104.6 | 3,367.8 |
| Additions | 11.2 | 42.6 | 126.8 | 180.6 |
| Acquisition of subsidiaries | 5.8 | 3.4 | – | 9.2 |
| Disposal of subsidiaries | – | (0.2) | – | (0.2) |
| Transfer from assets under construction | 16.1 | 132.5 | (148.6) | – |
| Transfer from assets held for sale | 6.2 | – | – | 6.2 |
| Disposals | (6.1) | (90.4) | (1.4) | (97.9) |
| Foreign currency translation | (41.3) | (237.8) | (6.0) | (285.1) |
| As at 3 January 2009 | 691.4 | 2,413.8 | 75.4 | 3,180.6 |
| Additions | 1.6 | 16.1 | 97.5 | 115.2 |
| Acquisition of subsidiaries | 2.8 | 4.6 | 0.6 | 8.0 |
| Transfer from assets under construction | 24.8 | 80.8 | (105.6) | – |
| Transfer to assets held for sale | (16.6) | – | – | (16.6) |
| Disposals | (16.8) | (100.5) | (0.3) | (117.6) |
| Foreign currency translation | 22.9 | 133.2 | 2.9 | 159.0 |
| As at 2 January 2010 | 710.1 | 2,548.0 | 70.5 | 3,328.6 |
| Accumulated depreciation and impairment | ||||
| As at 29 December 2007 | 252.9 | 1,700.5 | – | 1,953.4 |
| Depreciation charge for the period | 22.9 | 180.2 | – | 203.1 |
| Disposal of subsidiaries | – | (0.1) | – | (0.1) |
| Transfer from assets held for sale | 3.5 | – | – | 3.5 |
| Disposals | (3.6) | (83.9) | – | (87.5) |
| Impairments | 10.1 | 103.7 | – | 113.8 |
| Foreign currency translation | (10.7) | (162.2) | – | (172.9) |
| As at 3 January 2009 | 275.1 | 1,738.2 | – | 2,013.3 |
| Depreciation charge for the period | 22.0 | 150.2 | – | 172.2 |
| Transfer to assets held for sale | (4.8) | – | – | (4.8) |
| Disposals | (11.2) | (95.3) | – | (106.5) |
| Impairments | 15.7 | 8.5 | 2.6 | 26.8 |
| Foreign currency translation | 9.2 | 95.4 | 0.2 | 104.8 |
| As at 2 January 2010 | 306.0 | 1,897.0 | 2.8 | 2,205.8 |
| Carrying amount | ||||
| As at 3 January 2009 | 416.3 | 675.6 | 75.4 | 1,167.3 |
| As at 2 January 2010 | 404.1 | 651.0 | 67.7 | 1,122.8 |
During 2009, impairments totalling $26.8 million were recognised in relation to property, plant and equipment that has become impaired as a consequence of the Group's restructuring initiatives (none of these impairments was individually significant).
During 2008, against the background of the weakness of the Group's end markets, particularly the automotive OE markets in North America and Europe and the residential construction market in North America, management reviewed the recoverability of the assets of the Group's businesses that were exposed to those markets. As a result of that review, the following impairments, totalling $113.8 million, were recognised in relation to property, plant and equipment:
Impairments are analysed by operating segment in note 5.
Land and buildings include freehold land with a carrying value of $63.3 million (3 January 2009: $63.5 million) that is not depreciated.
Property, plant and equipment includes assets held under finance leases with a carrying amount of $6.3 million (3 January 2009: $9.9 million). Obligations under finance leases are secured by a lessor's charge over the leased assets.
Property, plant and equipment has been pledged as security for $0.9 million (3 January 2009: $nil) outstanding under secured bank loans.