Property, plant and equipment

At 31 December 2013, property, plant and equipment totaled €29,778 thousand and was subject to the following changes during the year:

(€ thousand)31 December 2012IncreasesDepreciation(Decreases) and Other changes31 December 2013
Land and buildings        
  • Gross carrying amount
47,514 30 - - 47,544
  • Accumulated depreciation
(21,020) - (1,410) - (22,430)
  • Net carrying amount
26,494 30 (1,410) - 25,114
Plant and machinery        
  • Gross carrying amount
12,019 386 - - 12,405
  • Accumulated depreciation
(10,326) - (216) - (10,542)
  • Net carrying amount
1,693 386 (216) - 1,863
Other tangible assets        
  • Gross carrying amount
5,170 254 - (247) 5,177
  • Accumulated depreciation
(3,053) - (268) 228 (3,093)
  • Net carrying amount
2,117 254 (268) (19) 2,084
Assets in progress and advances  -  717  -  -  717
Total property, plant and equipment      
  • Gross carrying amount
64,703 1,387 - (247) 65,843
  • Accumulated depreciation
(34,399) - (1,894) 228 (36,065)
  • Net carrying amount
30,304 1,387 (1,894) (19) 29,778

Land and buildings includes land valued at €610 thousand (unchanged over the prior year), while buildings mainly consists of the Company’s headquarters at Via Nizza 250, Turin.

Plant and equipment primarily related to general fixtures and fittings for buildings.

Other tangible assets comprised cars, office furniture and fixtures.

Assets in progress and advances related to costs incurred in 2013 for refurbishments to the company premises (structure and physical plant) at Via Nizza 250 (Turin), which were not complete at the balance sheet date.

At 31 December 2013, there were no contractual commitments of a material amount for purchases of property, plant and equipment or for assets in progress. 

No buildings were subject to liens, pledged as collateral or restricted in use.

Depreciation of property, plant and equipment is recognized in the income statement under other operating costs (Note 6).

During 2012, changes in Property, plant and equipment were as follows:

(€ thousand)31 December 2011IncreasesDepreciation(Decreases) and Other changes31 December 2012
Land and buildings        
  • Gross carrying amount
47,526 - - (12) 47,514
  • Accumulated depreciation
(19,610) - (1,410) - (21,020)
  • Net carrying amount
27,916 - (1,410) (12) 26,494
Plant and machinery        
  • Gross carrying amount
11,044 975 - - 12,019
  • Accumulated depreciation
(10,178) - (148) - (10,326)
  • Net carrying amount
866 975 (148) - 1,693
Other tangible assets        
  • Gross carrying amount
5,377 70 - (277) 5,170
  • Accumulated depreciation
(2,979) - (298) 224 (3,053)
  • Net carrying amount
2,398 70 (298) (53) 2,117
Total property, plant and equipment      
  • Gross carrying amount
63,947 1,045 - (289) 64,703
  • Accumulated depreciation
(32,767) - (1,856) 224 (34,399)
  • Net carrying amount
31,180 1,045 (1,856) (65) 30,304