14. Premises and Equipment

In mln of Russian Roubles Note Office premises Other premises Office and computer equipment Vehicles and other equipment Construction in progress Total
Cost or revalued amount at 1 January 2010   181,065 2,462 111,216 20,442 13,768 328,953
Accumulated depreciation   (588) (34) (71,115) (7,335) - (79,072)
Carrying amount at 1 January 2010   180,477 2,428 40,101 13,107 13,768 249,881
Additions   12,191 1,585 29,613 2,798 16,895 63,082
Acquisitions through business combinations   979 3,531 78 4,147 2,137 10,872
Transfers   7,965 - - - (7,965) -
Disposals — at cost or revalued amount   (2,300) (54) (4,159) (5,407) (1,705) (13,625)
Disposals — accumulated depreciation   18 2 4,060 1,825 - 5,905
Depreciation charge 26 (5,694) (34) (22,852) (3,779) - (32,359)
Carrying amount at 31 December 2010   193,636 7,458 46,841 12,691 23,130 283,756
Cost or revalued amount at 31 December 2010   199,900 7,524 136,748 21,980 23,130 389,282
Accumulated depreciation   (6,264) (66) (89,907) (9,289) - (105,526)
Additions   10,536 1,153 49,392 5,817 42,454 109,352
Acquisitions through business combinations   827 91 648 22 279 1,867
Transfers   26,877 7,740 64 1,674 (36,355) -
Disposals — at cost or revalued amount   (4,914) (4,413) (6,196) (5,940) (2,672) (24,135)
Disposals — accumulated depreciation   204 240 5,816 1,914 - 8,174
Depreciation charge 26 (6,708) (788) (32,746) (3,355) - (43,597)
Impairment of construction in progress recognised in profit or loss   - - - - (125) (125)
Revaluation of office premises recognised in profit or loss   (11,297) - - - - (11,297)
Revaluation of premises recognised in other comprehensive income   36,874 - - - - 36,874
Foreign currencies translation   (972) - 9 14 (17) (966)
Carrying amount at 31 December 2011   245,063 11,481 63,828 12,837 26,694 359,903
Cost or revalued amount at 31 December 2011   245,063 12,095 180,665 23,567 26,694 488,084
Accumulated depreciation   - (614) (1,16,837) (10,730) - (128,181)

Construction in progress consists of construction or refurbishment of the Group’s premises and equipment. Upon completion, assets are transferred to office premises, other premises or equipment categories.

Office premises have been revalued to market value at 31 December 2011. At 31 December 2011 the carrying amount of office premises would have been RR 156 510 mln (2010: RR 126 885 mln) had the premises been carried at cost less depreciation. The amount reconciles to the carrying value of the office premises as follows:

In mln of Russian Roubles 2011 2010
Office premises at revalued amount in the statement of financial position 245,063 193,636
Revaluation reserve presented in equity before tax and amortisation (112,870) (75,823)
Negative revaluation of office premises presented in income statement 29,771 18,474
Difference between accumulated depreciation based on cost and based on revalued amount (5,454) (9,402)
Office premises at cost less accumulated depreciation 156,510 126,885

At 31 December 2011 included in office and computer equipment were fully depreciated items in the amount of RR 22 111 mln (2010: RR 27 741 mln). There were no fully depreciated items in vehicles and other equipment as at 31 December 2011 (2010: RR 1 120 mln).

    History

My Annual Report

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