7.5.2Property, plant and equipment
See accounting policies O and U.
Property, plant and equipment
| | 31 December 2023 | 31 December 2022 |
|---|---|---|
| Land and buildings for own use | 168 | 115 |
| Plant | 417 | 480 |
| Equipment | 63 | 24 |
| Property, plant and equipment owned | 648 | 618 |
| | | |
| Land and buildings | 77 | 53 |
| Vehicles | 7 | 8 |
| Right-of-use assets | 84 | 61 |
| | | |
| Total property, plant and equipment | 732 | 679 |
Changes in property, plant and equipment
| | Land and buildings for own use | Plant | Equipment | Right-of-use Assets | Total 2023 | Total 2022 |
|---|---|---|---|---|---|---|
| At 1 January | 115 | 480 | 24 | 61 | 679 | 556 |
| Additions | - | - | 23 | 6 | 29 | 179 |
| Transfers to Investment property | - | - | - | - | - | -18 |
| Depreciations | -5 | -22 | -11 | -12 | -50 | -37 |
| Revaluations through profit of loss | - | -26 | - | - | -26 | -5 |
| Revaluations through equity | 20 | -15 | - | - | 5 | 13 |
| Other | - | 1 | - | 3 | 3 | -9 |
| Changes in the composition of the group | 37 | - | 27 | 27 | 91 | - |
| At 31 December | 168 | 417 | 63 | 84 | 732 | 679 |
| | | | | | | |
| Gross carrying amount as at 31 December | 285 | 457 | 189 | 129 | 1,061 | 859 |
| Accumulated depreciation as at 31 December | -118 | -40 | -126 | -45 | -329 | -180 |
| Net carrying value as at 31 December | 168 | 417 | 63 | 84 | 732 | 679 |
| | | | | | | |
| Revaluation surplus | | | | | | |
| At 1 January | 30 | 21 | - | - | 50 | 38 |
| Revaluation in the year | 20 | -15 | - | - | 5 | 13 |
| Other | -1 | - | - | - | -1 | - |
| Changes in the composition of the group | -1 | - | - | - | -1 | - |
| At 31 December | 48 | 6 | - | - | 54 | 50 |
Changes in the composition of the group relates to the property acquired through the acquisition of Aegon NL, see chapter 7.4.5.
Depreciation of property, plant and equipment is recorded in the operating and other expenses, see chapter 7.6.11.
The fair value of land and buildings for own use is based on the external valuations and the significant inputs for the fair value of plant are disclosed in 7.7.1.3.
Property, plant and equipment consists mainly of assets expected to have a useful life of more than one year after the balance sheet date.