REC Silicon Annual Report 2019

47 Notes to the consolidated financial statements, REC Silicon Group REC Silicon Annual Report 2019 The following table disaggregates revenues by contract type and reconciles to total revenues. (USD INMILLION) 2019 2018 Non-Contract Revenue 102.8 153.8 Structured (Regional/Volume pricing) 52.3 59.6 Tiered (Volume pricing) 5.1 7.8 Contract Revenue 57.4 67.4 Total 160.2 221.2 FIXED ASSETS Property, plant and equipment (USD INMILLION) LAND AND BUILDINGS MACHINERY AND EQUIPMENT OTHERTANGIBLE FIXED ASSETS ASSETS UNDER CONSTRUCTION TOTAL PROPERTY PLANT AND EQUIPMENT Carrying value at January 1, 2018 50.5 416.7 12.0 61.1 540.3 Net additions 1) 0.0 4.7 0.3 -0.3 4.7 Disposals -0.4 0.0 0.0 0.0 -0.5 Depreciation and amortization -2.7 -56.3 -2.1 0.0 -61.1 Impairment 2) -6.3 -274.1 -5.4 -51.4 -337.2 Carrying value at December 31, 2018 41.1 90.9 4.8 9.4 146.2 At December 31, 2018 Historical cost 147.5 2,131.6 80.0 65.8 2,424.8 Accumulated depreciation/amortization/impairment -106.4 -2,040.7 -75.1 -56.4 -2,278.7 Carrying value at December 31, 2018 41.1 90.9 4.8 9.4 146.2 Carrying value at January 1, 2019 41.1 90.9 4.8 9.4 146.2 Net additions 1) 0.9 10.5 0.3 0.2 11.9 Disposals -1.2 -1.6 -0.1 0.0 -2.9 Depreciation and amortization -2.5 -38.3 -1.1 0.0 -42.0 Impairment 2) 0.9 11.6 0.1 -5.7 6.9 Carrying value at December 31, 2019 39.1 73.1 4.2 3.9 120.2 At December 31, 2019 Historical cost 140.9 2,141.5 80.5 60.4 2,423.3 Accumulated depreciation/amortization/impairment -101.8 -2,068.4 -76.3 -56.6 -2,303.1 Carrying value at December 31, 2019 39.1 73.1 4.2 3.9 120.2 1) Net additions include transfers fromassets under construction 2) See note 8 for details of impairments Specification of useful lives and depreciation At year-end 2019, estimated useful lives by asset class were as follows: • Land and Buildings 0-31.5 years (weighted average approximately 19.3 years) • Machinery and equipment 3-32 years (weighted average approximately 5.1 years) • Other tangible fixed assets (weighted average approximately 6.9 years) Assets under construction are not yet ready for their intended use and depreciation has not started. Reviews of estimated useful lives of property, plant, and equipment for 2019 and 2018 resulted in only minor changes. 6