Flughafen Zürich AG - Annual Report 2020

8 Property, plant and equipment

(CHF million)	Land	Engineering structures	Buildings	Projects in progress	Movables	Total
Cost
Balance as at 1 January 2019	118.7	1,698.0	4,377.9	184.8	272.9	6,652.3
Additions	10.3		210.4	233.9	0.5	455.1
Disposals		–36.8	–55.3		–14.2	–106.3
Transfers		12.1	75.0	–113.5	18.0	–8.4
Reclassification		0.0	–0.3		0.3	0.0
Foreign exchange differences					–0.1	–0.1
Balance as at 31 December 2019	129.0	1,673.3	4,607.7	305.2	277.4	6,992.6

Balance as at 1 January 2020	129.0	1,673.3	4,607.7	305.2	277.4	6,992.6
Additions	9.1		0.8	234.4		244.3
Disposals		–2.0	–27.7	–10.1	–13.2	–53.0
Transfers		12.8	100.6	–139.2	16.3	–9.5
Reclassification			21.8			21.8
Foreign exchange differences						0.0
Balance as at 31 December 2020	138.1	1,684.1	4,703.2	390.3	280.5	7,196.2


Depreciation, amortisation
Balance as at 1 January 2019	0.0	–898.4	–2,936.5	0.0	–191.6	–4,026.5
Additions		–59.4	–140.3		–16.1	–215.8
Disposals		36.4	54.2		13.8	104.4
Reclassification						0.0
Balance as at 31 December 2019	0.0	–921.4	–3,022.6	0.0	–193.9	–4,137.9

Balance as at 1 January 2020	0.0	–921.4	–3,022.6	0.0	–193.9	–4,137.9
Additions		–58.9	–147.7		–16.7	–223.3
Disposals		1.9	26.2		12.8	40.9
Reclassification			–21.7			–21.7
Balance as at 31 December 2020	0.0	–978.4	–3,165.8	0.0	–197.8	–4,342.0


Government subsidies and grants
Balance as at 1 January 2019	0.0	–10.1	–1.7	0.0	–0.4	–12.2
Additions				–0.2		–0.2
Disposals		0.8	0.2		0.2	1.2
Transfers			–0.2	0.2		0.0
Balance as at 31 December 2019	0.0	–9.3	–1.7	0.0	–0.2	–11.2
Additions				–2.2		–2.2
Disposals		0.8	0.2		0.2	1.2
Transfers			–1.9	1.9		0.0
Balance as at 31 December 2020	0.0	–8.5	–3.4	–0.3	0.0	–12.2


Net carrying amount as at 31 December 2019	129.0	742.6	1,583.4	305.2	83.3	2,843.5
Net carrying amount as at 31 December 2020	138.1	697.2	1,534.0	390.0	82.7	2,842.0

Projects in progress

In the past financial year, Flughafen Zürich AG invested CHF 234.4 million in projects in progress (2019: CHF 233.9 million). The biggest items comprise the following projects:

Expansion and refurbishment of the baggage sorting system (CHF 67.7 million)
Expansion of the landside passenger zones (CHF 22.7 million)
Renovation of the maintenance workshop (CHF 17.2 million)

Depreciation

Depreciation of property, plant and equipment totalling CHF –223.3 million was offset against government grants and subsidies recognised in the income statement in the amount of CHF 1.2 million.

Impairment

Due to the coronavirus pandemic and the related indicators that items of property, plant and equipment may be impaired, Flughafen Zürich AG performed an impairment test (see II. Judgements and significant estimates and assumptions in the application of accounting policies, Impairment of assets in accordance with IAS 36).