Ferrari N.V.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
at December 31, 2016 and 2015
160
16. PROPERTY, PLANT AND EQUIPMENT
Land
Industrial
buildings
Plant,
machinery
and
equipment
Other
assets
Advances
and assets
under
construction Total
(€ thousand)
Gross carrying amount at January 1, 2015 22,500 276,446 1,549,578 128,233 89,784 2,066,541
Additions 142 23,716 117,618 10,665 32,769 184,910
Divestitures — (6,775) (23,962) (7,469) (139) (38,345)
Reclassification — 37,802 48,706 143 (86,651) —
Translation differences 29 (12) (458) 55 — (386)
Balance at December 31, 2015 22,671 331,177 1,691,482 131,627 35,763 2,212,720
Additions — 5,596 81,678 7,322 81,051 175,647
Divestitures — (1,021) (9,902) (7,631) — (18,554)
Reclassification — 1,578 22,898 1,441 (28,341) (2,424)
Change in scope of consolidation — — — (613) — (613)
Translation differences 10 173 — 476 — 659
Balance at December 31, 2016 22,681 337,503 1,786,156 132,622 88,473 2,367,435
Accumulated amortization at
January 1, 2015 — 116,718 1,268,082 96,556 — 1,481,356
Depreciation — 10,340 124,950 8,995 — 144,285
Divestitures — (3,947) (27,167) (6,515) — (37,629)
Translation differences (12) (1,394) (16) — (1,422)
Balance at December 31, 2015 — 123,099 1,364,471 99,020 — 1,586,590
Depreciation — 9,995 109,939 9,681 — 129,615
Divestitures — (608) (11,628) (6,039) — (18,275)
Reclassification — 177 (1,786) 1,609 — —
Change in scope of consolidation — — — (312) (312)
Translation differences — 159 (1) 376 — 534
Balance at December 31, 2016 — 132,822 1,460,995 104,335 — 1,698,152
Carrying amount at:
January 1, 2015 22,500 159,728 281,496 31,677 89,784 585,185
December 31, 2015 22,671 208,078 327,011 32,607 35,763 626,130
December 31, 2016 22,681 204,681 325,161 28,287 88,473 669,283
Additions of €175,647 thousand in 2016 were mainly comprised of additions of €81,678 thousand to plant, machinery
and equipment and additions of €81,051 thousand related to advances and assets under construction. Additions to plant, machinery
and equipment in 2016 mainly related to investments in cars production lines, engine assembly lines and personalization programs.
Additions to advances and assets under construction in 2016 mainly related to car production lines of models to be launched in
future years.
Additions of €184,910 thousand in 2015 were mainly comprised of additions of €117,618 thousand to plant, machinery
and equipment and additions of €32,769 thousand related to advances and assets under construction. Additions to plant, machinery
and equipment in 2015 mainly related to investments in cars production lines, engine testing equipment and to upgrade wind
tunnel. Additions to advances and assets under construction in 2015 mainly related to car production lines.
At December 31, 2016, the Group had contractual commitments for the purchase of property, plant and equipment
amounting to €49,614 thousand (€31,041 thousand at December 31, 2015).