State of Connecticut Comprehensive Annual Financial Report Fiscal Year Ended June 30, 1998 - Notes to the Financial Statements - Note 8

State of Connecticut

June 30, 1998

Note 8

PROPERTY, PLANT, AND EQUIPMENT

(1) A summary of changes in general fixed assets is as follows (amounts in thousands):

Balance
7/1/97

Additions

Retirements
Balance
6/30/98
Land $ 330,721 $ 7,063 $ 2,007 $ 335,777
Buildings 1,900,296 128,938 70,474 1,958,760
Improvements Other Than Buildings 264,248 12,066 44,522 231,792
Machinery and Equipment 1,113,499 78,353 46,394 1,145,458
Construction in Progress 211,616 161,729 51,211 322,134
Total $ 3,820,380 $ 388,149 $ 214,608 $ 3,993,921

(2) Property, plant, and equipment for the primary government and its component units consisted of the following as of June 30, 1998 (amounts in thousands):

Primary Government

Enterprise
Internal
Service
Higher
Education
Component
Units
Land $ 2,840 $ - $ 38,582 $ 21,937
Buildings 135,553 - 1,072,119 184,946
Improvements
Other than
Buildings 115,811 95 89,515 132
Machinery and
Equipment 66,053 119,704 552,922 185,725
Construction
In Progress 4,398 239,951 -
Subtotal 324,655 119,799 1,993,089 392,740
Less
Accumulated
Depreciation 130,288 81,716 234,688 142,427
Total $ 194,367 $ 38,083 $1,758,401 $ 250,313

The following estimated useful lives are used to compute depreciation: Buildings 10-60 years; Land Improvements 2-50 years; Machinery and Equipment 2-21 years.

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