10.e Depreciation, amortization and other impairment losses - €7,163 million

 

Millions of euro      
  2020 2019 Change
Property, plant and equipment 4,118 4,481 (363) -8.1%
Investment property 2 3 (1) -33.3%
Intangible assets 1,223 1,266 (43) -3.4%
Other impairment losses 1,857 4,221 (2,364) -56.0%
Other reversals of impairment losses (37) (289) 252 -87.2%
Total 7,163 9,682 (2,519) -26.0%


The decrease in “depreciation, amortization and other impairment losses” in 2020 was essentially attributable to the effect of the impairment losses recognized in 2019 on certain coal-fired plants in Italy, Spain, Chile and Russia totaling €4,010 million and the consequent decrease in depreciation recognized in 2020.
These effects were partially offset by:

  • the impairment loss recognized in 2020 on the Chilean coal plant of Bocamina II (€737 million);
  • the impairment losses on a number of coal plants in Italy in the amount of €135 million, including Unit 2 of the Brindisi power plant;
  • the impairment losses on the Mexico, Argentina and Australia CGUs in the total amount of €750 million;
  • other impairment losses of €159 million, the most significant of which regarded the solar panel manufacturing plants of Enel Green Power in Italy (65 million) and the Snyder plant in the United States (€47 million).

Note that the impairment losses recognized in respect of coal plants in 2020 and 2019 are linked to the achievement of the Groups strategic objective for the decarbonization of generation and that the impacts of climate change were taken into account in carrying out the impairment tests.