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8. Property, plant and equipment and investment property

 Property, plant and equipment 
 Land and buildingsPlant and machineryEquipmentOther tangible assetsTotalInvestment property
1 January 2015      
Cost957117120201
Amortisation, depreciation and impairment losses(53)(6)(1)(13)(73)(95)
Carrying amount421-447106
       
Investments---33-
Depreciation(2)--(1)(3)(5)
Other changes-1-(1)-1
31 December 2015402-547102
Broken down as follows:      
Cost957-17119201
Amortisation, depreciation and impairment losses(55)(5)-(12)(72)(99)
Carrying amount402-547102
       
Effect from Mergers/Demergers1333536602181,364-
Investments284754111-
Sales--(1)(1)(2)-
Depreciation(14)(61)(143)(22)(240)(1)
Other changes106578(91)80(94)
31 December 20162673595711631,3607
Broken down as follows:      
Cost4781,2041,6562,2895,62723
Amortisation, depreciation and impairment losses(211)(845)(1,085)(2,126)(4,267)(16)
Carrying amount2673595711631,3607

Property, plant and equipment showed a decrease, excluding the effect of the abovementioned mergers and demergers at 1 January 2016, as a result of the depreciation for the period, which was only partially offset by investments, attributable in particular to the sectors of Aeronautics (€mil. 61), Helicopters (€mil. 11) and Electronics, Defence & Security Systems (€mil. 26).

The item “Investment Property”, which includes the value of land, as well as of civil and industrial buildings, that are mainly leased to Group companies, showed a considerable decrease as a result of the mergers and demergers, which led Leonardo to act both as lessor and lessee. Therefore, said value was largely reclassified as a result of the concentration among property, plant and equipment that are owned and those that are used by Leonardo.

Moreover, purchase commitments of property, plant and equipment are recorded in the amount of €mil. 72 (€mil. 3 at 31 December 2015).