EXMAR report 2025

5.2 Consolidated financial statements 194 Other intangible assets Other intangible assets (e.g. software,…) acquired by the Group that have finite useful lives are measured at cost less accumulated amortisations and accumulated impairment losses. e. Property, plant and equipment Owned assets Items of property, plant and equipment are stated at cost, which includes capitalised borrowing costs, less accumulated depreciation and impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset and to bringing the asset to the location and condition necessary for its intended use. The cost of self-constructed assets includes the cost of materials and direct labor, any other costs directly attributable to bringing the asset to a working condition for its intended use and capitalized borrowing costs. If a part of an item of property, plant and equipment is replaced, the replacement cost is capitalised and the carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of property, plant and equipment are recognised in the profit or loss statement as incurred. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Vessels, barges or units in the construction process are separately classified on the balance sheet as assets under construction. These assets under construction are not depreciated, depreciation starts at the moment that the vessels are delivered. As from the moment of delivery, the vessels are no longer classified as under construction. The business model of the Group aims to rent or operate the constructed assets. The vessels are depreciated on a straight-line basis to their residual value over their estimated useful life (as from construction date) in the Group as follows: Gas vessel LPG pressurized 20 years Gas vessel LPG 30 years Gas vessel VLGC 30 years Gas vessel LNG 35 years Suezmax 25 years LNG units 30 years Accommodation platform, newbuild: - Hull machinery & deck outfitting 20 years - Accommodation 10 years Accommodation platform, second hand 10-12 years Vessels and barges are estimated to have a zero residual value. Dry-docking expenses are capitalised when they occur and depreciated over a period until the next dry-dock. Other property, plant and equipment are depreciated over their estimated useful life using the straight-line depreciation method. The estimated useful lives of the various other types of assets are as follows: Buildings 33.3 years Leased real estate 33.3 years Plant and equipment 5 years Furniture 10 years Cars 5 years Airplane 10 years IT equipment 3 years