7.5.2Property, plant and equipment
See accounting policies P and V.
Property, plant and equipment
| | 31 December 2024 | 31 December 2023 |
|---|---|---|
| Land and buildings for own use | 164 | 168 |
| Plant | 386 | 417 |
| Equipment | 53 | 63 |
| Property, plant and equipment owned | 603 | 648 |
| | | |
| Land and buildings | 65 | 77 |
| Vehicles | 8 | 7 |
| Right-of-use assets | 72 | 84 |
| | | |
| Total property, plant and equipment | 676 | 732 |
Changes in property, plant and equipment
| | Land and buildings for own use | Plant | Equipment | Right-of-use Assets | Total 2024 | Total 2023 |
|---|---|---|---|---|---|---|
| At 1 January | 168 | 417 | 63 | 84 | 732 | 679 |
| Additions | - | - | 11 | 14 | 25 | 29 |
| Depreciations | -7 | -20 | -15 | -11 | -53 | -50 |
| Impairments | - | - | -3 | - | -3 | - |
| Revaluations through profit of loss | -4 | -11 | - | - | -15 | -26 |
| Revaluations through equity | 6 | -3 | - | - | 2 | 5 |
| Other | 1 | 2 | -2 | -11 | -10 | 3 |
| Changes in the composition of the group | - | - | - | -4 | -4 | 91 |
| at 31 December | 164 | 386 | 53 | 72 | 676 | 732 |
| | | | | | | |
| Gross carrying amount as at 31 December | 290 | 446 | 170 | 114 | 1,020 | 1,061 |
| Accumulated depreciation as at 31 December | -126 | -60 | -114 | -41 | -341 | -329 |
| Accumulated impairments as at 31 December | - | - | -3 | - | -3 | - |
| Net carrying value as at 31 December | 164 | 386 | 53 | 72 | 676 | 732 |
| | | | | | | |
| Revaluation surplus | | | | | | |
| At 1 January | 48 | 6 | - | - | 54 | 50 |
| Revaluation in the year | 6 | -3 | - | - | 3 | 5 |
| Other | -1 | - | - | - | -1 | -1 |
| Changes in the composition of the group | - | - | - | - | - | -1 |
| at 31 December | 53 | 3 | - | - | 56 | 54 |
In 2023, changes in the composition of the Group related to the property acquired through the acquisition of Aegon NL, see section 7.4.5.
Depreciation of property, plant and equipment is recorded in the operating and other expenses, see section 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 section 7.7.1.3.