Consolidated financial statement of JSW S.A. Capital Group for 2012

6. Property, plant and equipment

	Land	Buildings and structures	Expensable mining pits *	Technical equipment and machinery	Other property, plant and equipment	Property, plant and equipment under construction **	Total
As at 1 January 2011
Gross value	36.2	4,292.8	633.8	4,158.1	259.1	739.5	10,119.5
Accumulated depreciation ***	-	(1,146.3)	-	(2,070.3)	(185.2)	-	(3,401.8)
Net book value	36.2	3,146.5	633.8	2,087.8	73.9	739.5	6,717.7
2011
Net book value at the beginning of the year	36.2	3,146.5	633.8	2,087.8	73.9	739.5	6,717.7
Acquisition of subsidiaries	7.5	381.7	-	672.4	16.4	80.8	1,158.8
Increases	-	0.2	288.6	0.5	-	1,167.4	1,456.7
Transfers from property, plant and equipment under construction	3.9	275.2	-	831.5	65.6	(1,176.2)	-
Decreases	-	(16.1)	-	(4.3)	(0.2)	(0.4)	(21.0)
Depreciation	-	(153.7)	(241.1)	(409.3)	(34.5)	-	(838.6)
Revaluation charge	-	-	-	(14.8)	-	-	(14.8)
Net book value	47.6	3,633.8	681.3	3,163.8	121.2	811.1	8,458.8
As at 31 Dec 2011
Gross value	47.6	5,111.1	681.3	5,787.5	336.5		12,775.1
Accumulated depreciation ***	-	(1,477.3)	-	(2,623.7)	(215.3)	-	(4,316.3)
Net book value	47.6	3,633.8	681.3	3,163.8	121.2	811.1	8,458.8
2012
Net book value at the beginning of the year	47.6	3,633.8	681.3	3,163.8	121.2	811.1	8,458.8
Increases	-	13	487.2	0.7	-	1,293.5	1,794.4
Other increases – recalculation of the mining plant decomissioning provision	-	86.7	-	-	-	-	86.7
Transfers from property, plant and equipment under construction	3.8	223.3	-	718.3	50	(995.4)	-
Decreases ****	(0.9)	(7.3)	(8.6)	(19.5)	(0.3)	(17.9)	(54.5)
Depreciation	-	(177.1)	(304.0)	(528.6)	(39.8)	-	(1,049.5)
Revaluation charge	-	-	-	(5.0)	-	-	(5.0)
Net book value	50.5	3,772.4	855.9	3,329.7	131.1	1,091.3	9,230.9
As at 31 Dec 2012
Gross value	50.5	5,374.8	855.9	6,396.1	377.6	1,091.3	14,146.2
Accumulated depreciation ***	-	(1,602.4)	-	(3,066.4)	(246.5)	-	(4,915.3)
Net book value	50.5	3,772.4	855.9	3,329.7	131.1	1,091.3	9,230.9

* Expensable mining pits are settled according to the extraction volumes from respective wall areas. Upon settlement, an expensable mining pit is actually liquidated; therefore, the table does not contain any accumulated depreciation numbers
** The capital expenditures incurred by the Group companies (except for expenditures for expensable mining pits) are accumulated in the “Property, plant and equipment under construction” item and in the month they are commissioned for use they are transferred to the appropriate type group of property, plant and equipment.
*** This item includes accumulated depreciation and revaluation charges for property, plant and equipment
****This item also includes reclassification of property, plant and equipment to investment property

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As at 31 December 2012, revaluation changes for property, plant and equipment are PLN 30.6 million (PLN 41.3 million as at 31 December 2011). PLN 15.7 million of the revaluation charge was used in the current period.

Establishment and reversal of revaluation charges for property, plant and equipment is captured as other costs/income in the financial result.

As at 31 December 2012, the net book value of property, plant and equipment components securing the repayment of liabilities was PLN 4.2 million (PLN 112.2 million on 31 December 2011). In 2012, a mortgage of PLN 101.7 million securing other liabilities was stricken off the land and mortgage registers. Moreover, property, plant and equipment which secures liabilities on account of loans and borrowings is presented in Note 17.