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Property, plant and equipment | 12 Months Ended
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Dec. 31, 2017
Property, plant and equipment [abstract] |
Property, plant and equipment | Property, plant and equipment Changes in the Group’s property, plant and equipment in 2017 and 2016 were as follows:
| Farmlands |  | Farmland improvements |  | Buildings and facilities |  | Machinery, equipment, furniture and fittings |  | Bearer plants |  | Others |  | Work in progress |  | Total
At January 1, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost | 114,527 |  |  | 14,889 |  |  | 267,473 |  |  | 548,037 |  |  | 234,322 |  |  | 13,544 |  |  | 23,113 |  |  | 1,215,905 |
Accumulated depreciation | — |  |  | (9,748 | ) |  | (100,005 | ) |  | (321,988 | ) |  | (77,651 | ) |  | (9,624 | ) |  | — |  |  | (519,016 | )
Net book amount | 114,527 |  |  | 5,141 |  |  | 167,468 |  |  | 226,049 |  |  | 156,671 |  |  | 3,920 |  |  | 23,113 |  |  | 696,889 |
At December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening net book amount | 114,527 |  |  | 5,141 |  |  | 167,468 |  |  | 226,049 |  |  | 156,671 |  |  | 3,920 |  |  | 23,113 |  |  | 696,889 |
Exchange differences | (6,004 | ) |  | (838 | ) |  | 26,675 |  |  | 46,053 |  |  | 33,169 |  |  | 103 |  |  | (924 | ) |  | 98,234 |
Additions | — |  |  | — |  |  | 7,420 |  |  | 36,190 |  |  | 74,175 |  |  | 1,484 |  |  | 19,454 |  |  | 138,723 |
Reclassification from investment property (Note 13) | 1,335 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,335 |
Transfers | — |  |  | 6,856 |  |  | 6,491 |  |  | 6,608 |  |  | — |  |  | 8 |  |  | (19,963 | ) |  | — |
Disposals | — |  |  | — |  |  | (1,078 | ) |  | (3,125 | ) |  | — |  |  | (72 | ) |  | — |  |  | (4,275 | )
Reclassification to non-income tax credits (*) | — |  |  | — |  |  | (1,233 | ) |  | (227 | ) |  | — |  |  | — |  |  | (39 | ) |  | (1,499 | )
Depreciation | — |  |  | (1,519 | ) |  | (15,688 | ) |  | (60,238 | ) |  | (47,846 | ) |  | (1,508 | ) |  | — |  |  | (126,799 | )
Closing net book amount | 109,858 |  |  | 9,640 |  |  | 190,055 |  |  | 251,310 |  |  | 216,169 |  |  | 3,935 |  |  | 21,641 |  |  | 802,608 |
| Farmlands |  | Farmland improvements |  | Buildings and facilities |  | Machinery, equipment, furniture and fittings |  | Bearer plants |  | Others |  | Work in progress |  | Total
At December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost | 109,858 |  |  | 20,907 |  |  | 305,748 |  |  | 633,536 |  |  | 341,666 |  |  | 15,067 |  |  | 21,641 |  |  | 1,448,423 |
Accumulated depreciation | — |  |  | (11,267 | ) |  | (115,693 | ) |  | (382,226 | ) |  | (125,497 | ) |  | (11,132 | ) |  | — |  |  | (645,815 | )
Net book amount | 109,858 |  |  | 9,640 |  |  | 190,055 |  |  | 251,310 |  |  | 216,169 |  |  | 3,935 |  |  | 21,641 |  |  | 802,608 |
Year ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening net book amount | 109,858 |  |  | 9,640 |  |  | 190,055 |  |  | 251,310 |  |  | 216,169 |  |  | 3,935 |  |  | 21,641 |  |  | 802,608 |
Exchange differences | (9,561 | ) |  | (1,219 | ) |  | (4,473 | ) |  | (5,853 | ) |  | (4,089 | ) |  | (390 | ) |  | (2,901 | ) |  | (28,486 | )
Additions | — |  |  | — |  |  | 15,495 |  |  | 62,101 |  |  | 84,278 |  |  | 2,351 |  |  | 37,856 |  |  | 202,081 |
Reclassification from investment property | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers | — |  |  | 2,711 |  |  | 12,963 |  |  | 11,183 |  |  | — |  |  | 11 |  |  | (26,868 | ) |  | — |
Disposals | — |  |  | — |  |  | (162 | ) |  | (3,913 | ) |  | — |  |  | (40 | ) |  | — |  |  | (4,115 | )
Reclassification to non-income tax credits (*) | — |  |  | — |  |  | (205 | ) |  | (788 | ) |  | — |  |  | — |  |  | (93 | ) |  | (1,086 | )
Depreciation | — |  |  | (2,125 | ) |  | (20,829 | ) |  | (67,960 | ) |  | (57,448 | ) |  | (1,709 | ) |  | — |  |  | (150,071 | )
Closing net book amount | 100,297 |  |  | 9,007 |  |  | 192,844 |  |  | 246,080 |  |  | 238,910 |  |  | 4,158 |  |  | 29,635 |  |  | 820,931 |
At December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost | 100,297 |  |  | 22,399 |  |  | 329,366 |  |  | 696,266 |  |  | 421,855 |  |  | 16,999 |  |  | 29,635 |  |  | 1,616,817 |
Accumulated depreciation | — |  |  | (13,392 | ) |  | (136,522 | ) |  | (450,186 | ) |  | (182,945 | ) |  | (12,841 | ) |  | — |  |  | (795,886 | )
Net book amount | 100,297 |  |  | 9,007 |  |  | 192,844 |  |  | 246,080 |  |  | 238,910 |  |  | 4,158 |  |  | 29,635 |  |  | 820,931 |
(*) Brazilian federal tax law allows entities to take a percentage of the total cost of the assets purchased as a tax credit. As of December 31, 2017 and 2016, ICMS (Imposto sobre Circulação de Mercadorias e Prestação de Serviços) tax credits were reclassified to trade and other receivables. Depreciation is calculated using the straight-line method to allocated their cost over the estimated usefull lives. Farmlands are not depreciated.
Farmland improvements | 5-25 years
Buildings and facilities | 20 years
Furniture and fittings | 10 years
Computer equipment | 3-5 years
Machinery and equipment | 4-10 years
Vehicles | 4-5 years
Bearer plants | 6 years
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Depreciation charges are included in “Cost of production of Biological Assets”, “Cost of production of manufactures products”, “General and administrative expenses”, “Selling expenses” and capitalized in “Property, plant and equipment” for the years ended December 31, 2017 and 2016. During the year ended December 31, 2017, borrowing costs of US$ 3,660 (2016:US$ 4,654) were capitalized as components of the cost of acquisition or construction for qualifying assets. Certain of the Group’s assets have been pledged as collateral to secure the Group’s borrowings and other payables. The net book value of the pledged assets amounts to US$ 265,099 as of December 31, 2017 (2016: US$ 575,882).

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