Note 15

Property and Equipment


At historical cost less accumulated depreciation
CHF million	Own-used properties	Leasehold improvements	IT, software and com- munication	Other machines and equipment	Plant and manufacturing equipment	Projects in progress	31.12.07	31.12.06
Historical cost
Balance at the beginning of the year	9,286	3,210	4,477	893	53	558	18,477	21,670
Additions	90	287	477	205	2	666	1,727	1,793
Additions from acquired companies	0	4	0	2	0	0	6	29
Disposals / write-offs ¹	(80)	(382)	(317)	(204)	(25)	0	(1,008)	(4,915)
Reclassifications	(28)	314	136	31	0	(529)	(76)	(26)
Foreign currency translation	(26)	(136)	(169)	(42)	(1)	(29)	(403)	(74)
Balance at the end of the year	9,242	3,297	4,604	885	29	666	18,723	18,477
Accumulated depreciation
Balance at the beginning of the year	4,930	2,096	3,887	623	42	0	11,578	12,275
Depreciation ^2,3	231	299	608	110	5	0	1,253	1,325
Disposals / write-offs ¹	(28)	(342)	(310)	(174)	(19)	0	(873)	(1,942)
Reclassifications	(10)	0	(4)	0	0	0	(14)	(10)
Foreign currency translation	(2)	(85)	(159)	(19)	(1)	0	(266)	(70)
Balance at the end of the year	5,121	1,968	4,022	540	27	0	11,678	11,578
Net book value at the end of the year ⁴	4,121	1,329	582	345	2	666	7,045	6,899
1 Includes write-offs of fully depreciated assets. 2 Depreciation expense of CHF 2 million and CHF 73 million is related to discontinued operations for 2007 and 2006, respectively. 3 In 2007, amounts include CHF 30 million in impairments of leasehold improvements and CHF 4 million in impairments of other machines and equipment. The 2006 amount includes a CHF 34 million software impairment. 4 Fire insurance value of property and equipment is CHF 14,689 million (2006: CHF 13,596 million).


At fair value
CHF million	31.12.07	31.12.06
Balance at the beginning of the year	14	28
Additions	182	0
Sales	0	(14)
Revaluations	7	0
Foreign currency translation	(14)	0
Balance at the end of the year	189	14

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