15. Tangible fixed assets

Tangible fixed assets comprise the following:

In CHF'000	31.12.2008	31.12.2007
Land and buildings	79 694	80 579
Equipment and machines	85 843	97 017

	165 537	177 596

Land and buildings

Land and buildings
In CHF'000	Land	Buildings	Building improvements	Construction in progress	Total
Gross values at cost

As of January 1, 2007	15 576	75 305	9 391	3 040	103 312
Additions	-	4 348	1 671	310	6 329
Disposals and retirements	-	-	-1 507	-	-1 507
Change in scope of consolidation	184	794	3 248	-	4 226
Currency translation adjustment	34	432	-126	-	340
Reclassification & others	-	1 021	-	-3 187	-2 166

As of January 1, 2008	15 794	81 900	12 677	163	110 534
Additions		1 630	4 439	1 531	7 600
Disposals and retirements		-2 787	-456	-	-3 243
Change in scope of consolidation		105	58	-	163
Currency translation adjustment	-139	-1 905	-287	-2	-2 333
Reclassification & others		-	-	107	107

As of December 31, 2008	15 655	78 943	16 431	1 799	112 828

Accumulated depreciation and impairment

As of January 1, 2007	-	-16 607	-7 980	-	-24 587
Systematic depreciation	-	-3 393	-1 256	-	-4 649
Recovery of depreciation on disposals and retirements	-	-	1 507	-	1 507
Change in scope of consolidation	-	-68	-1 853	-	-1 921
Currency translation adjustment	-	-265	40	-	-225
Reclassification & others		-26	-54	-	-80

As of January 1, 2008	-	-20 359	-9 596	-	-29 955
Systematic depreciation	-	-3 488	-1 727	-	-5 215
Recovery of depreciation on disposals and retirements	-	472	456	-	928
Change in scope of consolidation	-	-90	-	-	-90
Currency translation adjustment	-	1 084	114	-	1 198
Reclassification & others	-	-	-		-

As of December 31, 2008	-	-22 381	-10 753	-	-33 134

Net book values as of December 31, 2007	15 794	61 541	3 081	163	80 579

Net book values as of December 31, 2008	15 655	56 562	5 678	1 799	79 694

Useful life in years	Indefinite	10 - 50	4 - 8

In CHF'000	31.12.2008	31.12.2007
Fire insurance value of buildings	90 079	96 074
Corporate buildings on land whose owner has granted a permanent and specific right of use	4 160	4 579

Equipment and machines

Equipment and machines
In CHF'000	Technical equipment and machinery	Other equipment	Total
Gross values at cost

As of January 1, 2007	157 631	11 940	169 571
Additions	49 646	1 481	51 127
Disposals and retirements	-9 417	-1 426	-10 843
Change in scope of consolidation	25 827	4 342	30 169
Currency translation adjustment	-265	-270	-535
Reclassification & others	3 198	-477	2 721

As of January 1, 2008	226 620	15 590	242 210
Additions	51 417	1 696	53 113
Disposals and retirements	-71 785	-661	-72 446
Change in scope of consolidation	1 006	291	1 297
Currency translation adjustment	-9 756	-237	-9 994
Reclassification & others	-	-816	-816

As of December 31, 2008	197 502	15 862	213 363

Accumulated depreciation and impairment

As of January 1, 2007	-91 233	-7 606	-98 839
Systematic depreciation	-29 750	-1 953	-31 703
Impairment	-2 897	-	-2 897
Recovery of depreciation on disposals and retirements	9 417	1 426	10 843
Change in scope of consolidation	-19 467	-2 623	-22 090
Currency translation adjustment	688	209	897
Reclassification & others	-1 844	440	-1 404

As of January 1, 2008	-135 086	-10 107	-145 193
Systematic depreciation	-38 293	-1 789	-40 082
Impairment	-14 931	-55	-14 986
Recovery of depreciation on disposals and retirements	67 452	354	67 805
Change in scope of consolidation	-758	-136	-894
Currency translation adjustment	5 328	499	5 828
Reclassification & others	-	-	-

As of December 31, 2008	-116 287	-11 234	-127 521

Net book values as of December 31, 2007	91 534	5 483	97 017

Net book values as of December 31, 2008	81 215	4 628	85 843

Useful life in years	2 - 10	4 - 7

The technical equipment and machinery comprises assets made available to clients and generating recurring service revenue. Impairment losses mainly consist in assets made available to clients that were written off due to swaps out of those assets.

In CHF'000	31.12.2008	31.12.2007
Fire insurance value of technical equipment and machinery	128 350	128 880