05 Financial performance 2024 consolidated financial statements 12.2 Property, plant and equipment (PP&E) Changes in property, plant and equipment are as follows: (in € millions) Land and buildings Plant and industrial equipment Other equipment Total Gross carrying amounts at January 1, 2023 7,577 22,974 1,830 32,381 Translation adjustments (107) (410) (30) (547) Acquisitions 350 1,511 143 2,004 Disposals (94) (534) (49) (677) Changes in scope of consolidation (21) (27) 5 (43) Transfers and other (33) 22 1 (10) Gross carrying amounts at December 31, 2023 7,672 23,536 1,900 33,108 Translation adjustments 155 457 44 656 Acquisitions 270 1,494 137 1,901 Disposals (43) (397) (65) (505) Changes in scope of consolidation 8 (6) 2 4 Transfers and other (3) (7) 16 6 Gross carrying amounts at December 31, 2024 8,059 25,077 2,034 35,170 Depreciation and impairment at January 1, 2023 (3,643) (15,417) (1,185) (20,245) Translation adjustments 67 305 21 393 Depreciation (205) (1,160) (91) (1,456) Net impairment (30) (150) (78) (258) Disposals 48 521 45 614 Changes in scope of consolidation 40 49 11 100 Transfers and other (4) 7 1 4 Depreciation and impairment at December 31, 2023 (3,727) (15,845) (1,276) (20,848) Translation adjustments (58) (292) (24) (374) Depreciation (213) (1,204) (100) (1,517) Net impairment (29) (117) (7) (153) Disposals 19 378 62 459 Changes in scope of consolidation 1 5 1 7 Transfers and other (13) 23 (4) 6 Depreciation and impairment at December 31, 2024 (4,020) (17,052) (1,348) (22,420) NET CARRYING AMOUNTS AT DECEMBER 31, 2024 4,039 8,025 686 12,750 Net carrying amounts at December 31, 2023 3,945 7,691 624 12,260 PP&E in progress amount to €2,553 million (2023: €2,589 million). Accumulated impairment losses included in total "Depreciation and impairment" at December 31, 2024 amounted to €774 million (2023: €645 million). 405 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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