Year ended December 31, 2023	Land and civil buildings		Industrial buildings, plant and production equipment		Vehicles, furniture and fixtures		Work in progress		Spare parts and equipment		Total
Cost
Values at the beginning of the year	815,763		12,857,494		402,485		252,379		55,526		14,383,647
Currency translation adjustment	1,863		53,282		1,675		1,462		199		58,481
Increase due to business combinations ^(*)	64,413		256,899		831		71,838		-		393,981
Additions	330		3,661		820		546,515		19,671		570,997
Transfers / Reclassifications	12,031		435,550		22,530		(471,381	)	-		(1,270	)
Disposals / Consumptions	(4,443	)	(68,613	)	(11,428	)	(4,710	)	(3,562	)	(92,756	)
Values at the end of the year	889,957		13,538,273		416,913		396,103		71,834		15,313,080

Depreciation and impairment
Accumulated at the beginning of the year	152,272		8,313,971		340,526		-		20,615		8,827,384
Currency translation adjustment	390		38,074		1,584		-		105		40,153
Depreciation charge	12,256		411,861		19,839		-		1,934		445,890
Transfers / Reclassifications	(16	)	(391	)	27		-		-		(380	)
Disposals / Consumptions	(8	)	(67,471	)	(10,667	)	-		-		(78,146	)
Accumulated at the end of the year	164,894		8,696,044		351,309		-		22,654		9,234,901
At December 31, 2023	725,063		4,842,229		65,604		396,103		49,180		6,078,179

(*) Related to the GPC, Isoplus anticorrosion coating division, Republic Tube LLC’s OCTG pipe processing facility and Mattr’s pipe coating business unit acquisitions. For more information see note 34.

Year ended December 31, 2022	Land and civil buildings		Industrial buildings, plant and production equipment		Vehicles, furniture and fixtures		Work in progress		Spare parts and equipment		Total
Cost
Values at the beginning of the year	830,104		13,064,541		420,930		147,429		59,522		14,522,526
Currency translation adjustment	(1,601	)	(71,347	)	(1,838	)	376		(174	)	(74,584	)
Increase due to business combinations ^(*)	-		-		-		187		-		187
Additions	-		2,271		734		334,912		8,150		346,067
Transfers / Reclassifications	9,829		184,915		16,221		(227,153	)	-		(16,188	)
Disposals / Consumptions	(22,569	)	(322,886	)	(33,562	)	(3,372	)	(11,972	)	(394,361	)
Values at the end of the year	815,763		12,857,494		402,485		252,379		55,526		14,383,647

Depreciation and impairment
Accumulated at the beginning of the year	139,941		8,199,724		353,639		-		4,421		8,697,725
Currency translation adjustment	(289	)	(51,283	)	(1,756	)	-		130		(53,198	)
Depreciation charge	13,577		432,648		21,022		-		20,485		487,732
Transfers / Reclassifications	(2	)	(21,506	)	(215	)	-		-		(21,723	)
Impairment charge (See note 5)	-		75,722		321		-		-		76,043
Disposals / Consumptions	(955	)	(321,334	)	(32,485	)	-		(4,421	)	(359,195	)
Accumulated at the end of the year	152,272		8,313,971		340,526		-		20,615		8,827,384
At December 31, 2022	663,491		4,543,523		61,959		252,379		34,911		5,556,263

(*)Related to Parques Eólicos de la Buena Ventura S.A. acquisition.

See note 28 for a description of certain restricted assets with a carrying value of $56.2 million held in Saudi Arabia by the Company’s subsidiary SSPC, in which Tenaris holds a 47.79% interest.

Property, plant and equipment include capitalized interests for net amounts at December 31, 2023 and 2022 of $28.8 million and $30.4 million, respectively. There were no new interests capitalized during 2023 and 2022.

Government grants recognized as a reduction of property, plant and equipment were not material for the years 2023 and 2022.

For the year 2023, the carrying amount of assets pledged as security for current and non-current borrowings amounted to $89.6 million held in Saudi Arabia by the Company´s subsidiary GPC, in which SSPC holds a 57.3% interest.

For the year 2022, the carrying amount of assets pledged as security for current and non-current borrowings were not material.