Tangible fixed assets

Equipment is stated at purchase price less straight-line depreciations, calculated while taking into consideration the estimated economic life of the assets in question, and, if applicable, less impairments in value. Acquisitions in the year under review are subject to depreciation according to the proportion of the year they have been held. Depreciation of equipment is over a period of three to fifteen years.

Costs for periodical major maintenance are charged to the result at the moment they arise. Leasehold improvements are depreciated over a ten-year period. The estimated useful lives of the leasehold improvements are in line with the remaining term of the corresponding lease.

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