8 Property and equipment
Property and equipment by type
| 2007 | 2006 | |
|---|---|---|
| Property in own use | 2,069 | 2,034 |
| Equipment | 1,270 | 1,312 |
| Assets under operating leases | 2,898 | 2,685 |
| 6,237 | 6,031 |
Property in own use by insurance and banking operations
| 2007 | 2006 | |
|---|---|---|
| Insurance operations | 599 | 694 |
| Banking operations | 1,470 | 1,340 |
| 2,069 | 2,034 |
Changes in property in own use
| 2007 | 2006 | |
|---|---|---|
| Opening balance | 2,034 | 2,271 |
| Additions | 85 | 68 |
| Changes in the composition of the group | 29 | –14 |
| Transfers to and from Real estate investments | 60 | –44 |
| Transfers to and from Other assets | 59 | –4 |
| Depreciation | –39 | –64 |
| Revaluations | –60 | 76 |
| Reversal of impairments | 14 | 4 |
| Disposals | –84 | –221 |
| Exchange rate differences | –29 | –38 |
| Closing balance | 2,069 | 2,034 |
| Gross carrying amount as at 31 December | 2,943 | 2,883 |
| Accumulated depreciation as at 31 December | –708 | –669 |
| Accumulated impairments as at 31 December | –166 | –180 |
| Net book value | 2,069 | 2,034 |
| Revaluation surplus | ||
| Opening balance | 693 | 612 |
| Revaluation in year | 19 | 82 |
| Released in year | –79 | –1 |
| Closing balance | 633 | 693 |
The cost or purchase price amounted to EUR 2,310 million (2006: EUR 2,190 million). Cost less accumulated depreciation would have been EUR 1,602 million (2006: EUR 1,521 million).
Appraisal of property in own use during the last five years by independently qualified valuers (in percentages)
| year of appraisal | ||||||
|---|---|---|---|---|---|---|
| 2007 | 39 | |||||
| 2006 | 19 | |||||
| 2005 | 26 | |||||
| 2004 | 4 | |||||
| 2003 | 12 | |||||
| 100 | ||||||
Changes in equipment
| Data processing equipment | Fixtures and fittings and other equipment | Total | ||||
|---|---|---|---|---|---|---|
| 2007 | 2006 | 2007 | 2006 | 2007 | 2006 | |
| Opening balance | 283 | 314 | 1,029 | 1,002 | 1,312 | 1,316 |
| Additions | 177 | 157 | 309 | 343 | 486 | 500 |
| Changes in the composition of the group | 10 | –7 | 16 | –1 | 26 | –8 |
| Disposals | –24 | –9 | –44 | –63 | –68 | –72 |
| Depreciation | –164 | –177 | –216 | –222 | –380 | –399 |
| Impairments | –1 | –1 | –1 | –2 | –1 | |
| Exchange rate differences | –3 | –6 | –17 | –26 | –20 | –32 |
| Other changes | 3 | 11 | –87 | –3 | –84 | 8 |
| Closing balance | 281 | 283 | 989 | 1,029 | 1,270 | 1,312 |
| Gross carrying amount as at 31 December | 1,763 | 1,499 | 2,950 | 2,729 | 4,713 | 4,228 |
| Accumulated depreciation as at 31 December | –1,481 | –1,216 | –1,959 | –1,699 | –3,440 | –2,915 |
| Accumulated impairments as at 31 December | –1 | –2 | –1 | –3 | –1 | |
| Net book value | 281 | 283 | 989 | 1,029 | 1,270 | 1,312 |
Changes in assets under operating leases
| Cars | Other leased-out assets | Total | ||||
|---|---|---|---|---|---|---|
| 2007 | 2006 | 2007 | 2006 | 2007 | 2006 | |
| Opening balance | 2,671 | 2,116 | 14 | 54 | 2,685 | 2,170 |
| Additions | 1,396 | 1,146 | 2 | 18 | 1,398 | 1,164 |
| Changes in the composition of the group | 417 | –46 | 371 | |||
| Disposals | –417 | –400 | –2 | –417 | –402 | |
| Depreciation | –720 | –617 | –4 | –10 | –724 | –627 |
| Exchange rate differences | –44 | 9 | –44 | 9 | ||
| Closing balance | 2,886 | 2,671 | 12 | 14 | 2,898 | 2,685 |
| Gross carrying amount as at 31 December | 5,177 | 3,938 | 70 | 39 | 5,247 | 3,977 |
| Accumulated depreciation as at 31 December | –2,291 | –1,267 | –58 | –25 | –2,349 | –1,292 |
| Net book value | 2,886 | 2,671 | 12 | 14 | 2,898 | 2,685 |
Depreciation of assets under operating leases is included in the profit and loss account in other income as a deduction from operating lease income.
No individual operating lease has terms and conditions that materially affect the amount, timing or certainty of the consolidated cash flows of the Group.
The Group leases assets to third parties under operating leases as lessor. The future minimum lease payments to be received under non–cancellable operating leases are as follows:
Future minimum lease payments by maturity
| 2007 | 2006 | |
|---|---|---|
| Within 1 year | 1,048 | 926 |
| More than 1 year but less than 5 years | 1,844 | 1,754 |
| More than 5 years | 6 | 5 |
| 2,898 | 2,685 |
