TORM plc | CIK:0001655891 | 3

  • Filed: 4/9/2018
  • Entity registrant name: TORM plc (CIK: 0001655891)
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  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1655891/000091957418002899/0000919574-18-002899-index.htm
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    • ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory

    NOTE 7 – TANGIBLE FIXED ASSETS
     
    USDm
    2017
    2016
    2015
    Vessels and capitalized dry-docking
    		   
    Cost:
    		   
    Balance as of 1 January
    1,697.4
    1,567.5
     530.1
    Additions
      103.1
    40.8
      112.0
    Additions from business combinations
    -
    -
    857.4
    Disposals
      -14.3
      -16.3
      -18.6
    Transferred to/from other items
    -
     105.4
     104.6
    Transferred to assets held-for-sale
     -59.6
    -
      -18.0
    Balance as of 31 December
    1,726.6
    1,697.4
    1,567.5
        
    Depreciation:
    		   
    Balance as of 1 January
     180.0
    75.5
    27.9
    Disposals
      -14.3
      -15.9
      -18.6
    Depreciation for the year
      113.6
     120.4
    66.5
    Transferred to assets held-for-sale
     -20.8
    -
     -0.3
    Balance as of 31 December
    258.5
     180.0
    75.5
        
    Impairment:
    		   
    Balance as of 1 January
     173.6
    -
    -
    Impairment losses on tangible fixed assets
    -
     173.6
    -
    Balance as of 31 December
     173.6
     173.6
    -
        
    Carrying amount as of 31 December
    1,294.5
    1,343.8
    1,492.0
        
    Of which finance leases as of 31 December
    28.6
     12.4
    13.1
        

     
    USDm
    2017
    2016
    2015
    Prepayments on vessels
    		   
    Balance as of 1 January
     44.1
    72.6
    34.7
    Additions
    44.3
    76.9
     142.5
    Transferred to/from other items
    -
      -105.4
      -104.6
    Balance as of 31 December
    88.4
     44.1
    72.6
        
    Carrying amount as of 31 December
    88.4
     44.1
    72.6
     
     
    USDm
    2017
    2016
    2015
    Other plant and operating equipment
    		   
    Cost:
    		   
    Balance as of 1 January
    2.7
    3.2
    -
    Additions
     1.0
      1.1
    0.9
    Additions from business combinations
    -
    -
    2.5
    Disposals
      -0.1
      -1.6
     -0.2
    Balance as of 31 December
    3.6
    2.7
    3.2
        
    Depreciation:
    		   
    Balance as of 1 January
    0.9
    0.7
    -
    Disposals
      -0.1
      -1.6
     -0.2
    Depreciations for the year
    0.9
     1.8
    0.9
    Balance as of 31 December
     1.7
    0.9
    0.7
        
    Carrying amount as of 31 December
     1.9
     1.8
    2.5
        
    Of which finance leases as of 31 December
    -
    -
    -
     
    Included in the carrying amount for "Vessels and capitalized dry-docking" are capitalized dry-docking costs in the amount of USD 68.1m (2016: USD 80.4m, 2015: USD 81.7m).
     
    For information on assets used as collateral security, please refer to note 16. Please refer to note 8 for information on impairment testing.
     
    The depreciation expense related to "Other plant and operating equipment" of USD 0.9m relates to "Administrative expense" (2016: USD 1.8m, 2015: USD 0.9m). Depreciations and impairment losses on tangible fixed assets on "Vessels and capitalized dry-docking" relate to operating expenses.