NOTE 8. General Property, Plant and Equipment, Net
General Property, Plant and Equipment, Net
(Dollars in Thousands)
| |
Useful
Life |
Cost |
Accumulated Depreciation |
Net Book
Value
2007 |
Net Book
Value
2006 |
| The components of PP&E as of September 30, 2007 are as follows: |
| Classes of Fixed Assets |
|
|
|
|
|
| Equipment |
3 to 5
years |
$89,697 |
$(58,126) |
$31,571 |
$37,275 |
| Buildings, Improvements, and Renovations |
20 years |
74,581 |
(36,267) |
38,314 |
42,823 |
| Land and Land Rights |
N/A |
2,456 |
N/A |
2,456 |
3,139 |
| Assets Under Capital Lease (Note 9) |
|
8,190 |
(2,653) |
5,537 |
4,739 |
| Construction in Progress |
N/A |
570 |
– |
570 |
570 |
| Internal Use Software |
3 to 5
years |
36,172 |
(26,122) |
10,050 |
15,448 |
| Total |
|
$211,666 |
$(123,168) |
$88,498 |
$103,994 |
The threshold for capitalizing or amortizing assets is $25 thousand. Assets purchased prior to FY 2003 are depreciated using the straight line depreciation method. Assets purchased during FY 2003 and beyond are depreciated using the mid-quarter convention depreciation method. Depreciable assets are assumed to have no remaining salvage value. There are currently no restrictions on Property, Plant and Equipment (PP&E) assets.
USAID PP&E includes assets located in Washington, D.C. offices and overseas field missions.
Equipment consists primarily of electric generators, Automatic Data Processing (ADP) hardware, vehicles and copiers located at the overseas field missions.
Line items Buildings, Improvements, and Renovations in addition to Land and Land Rights include USAID owned office buildings and residences at foreign missions, including the land on which these structures reside. These structures are used and maintained by the field missions. USAID does not separately report the cost of the building and the land on which the building resides.
Land consists of property owned by USAID in foreign countries. Land is generally procured for the construction of buildings.
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