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TANGIBLE FIXED ASSETS | 12 Months Ended
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Dec. 31, 2019
TANGIBLE FIXED ASSETS |
TANGIBLE FIXED ASSETS | NOTE 6 – TANGIBLE FIXED ASSETS
USDm |  | 2019 |  | 2018 |  | 2017
Land and buildings |  |  |  |  |  |
Cost: |  |  |  |  |  |
Balance as of 1 January |  | — |  | — |  | —
Adjustment on transition to IFRS 16 |  | 9.9 |  | — |  | —
Additions |  | 0.5 |  | — |  | —
Balance as of 31 December |  | 10.4 |  | — |  | —
Depreciation: |  |  |  |  |  |
Balance as of 1 January |  | — |  | — |  | —
Depreciation for the year |  | 2.3 |  | — |  | —
Balance as of 31 December |  | 2.3 |  | — |  | —
Carrying amount as of 31 December |  | 8.1 |  | — |  | —
USDm |  | 2019 |  | 2018 |  | 2017
Vessels and capitalized dry-docking |  |  |  |  |  |
Cost: |  |  |  |  |  |
Balance as of 1 January |  | 1,886.3 |  | 1,726.6 |  | 1,697.4
Additions |  | 81.3 |  | 162.7 |  | 103.1
Disposals |  | (25.6) |  | (30.2) |  | (14.3)
Transferred from prepayments |  | 252.3 |  | 81.8 |  | —
Transferred to assets held for sale |  | (130.1) |  | (54.6) |  | (59.6)
Balance as of 31 December |  | 2,064.2 |  | 1,886.3 |  | 1,726.6
Depreciation: |  |  |  |  |  |
Balance as of 1 January |  | 327.6 |  | 264.8 |  | 180.0
Disposals |  | (25.6) |  | (30.2) |  | (14.3)
Depreciation for the year |  | 106.5 |  | 113.4 |  | 113.6
Transferred to assets held for sale |  | (47.9) |  | (20.4) |  | (14.5)
Balance as of 31 December |  | 360.6 |  | 327.6 |  | 264.8
Impairment: |  |  |  |  |  |
Balance as of 1 January |  | 162.1 |  | 167.3 |  | 173.6
Impairment losses on tangible fixed assets |  | 6.0 |  | 3.2 |  | 3.6
Reversal of impairment 1) |  | (120.0) |  | — |  | —
Transferred to assets held for sale |  | (19.3) |  | (8.4) |  | (9.9)
Balance as of 31 December |  | 28.8 |  | 162.1 |  | 167.3
Carrying amount as of 31 December |  | 1,674.8 |  | 1,396.6 |  | 1,294.5
1) For additional information regarding impairment considerations, please refer to note 8. Included in the carrying amount for "Vessels and capitalized dry-docking" are capitalized dry-docking costs in the amount of USD 60.7m (2018: USD 67.5m, 2017: USD 68.1m). The sale and leaseback transactions in 2019 were all classified as financing arrangements and did not result in derecognition of the underlying assets as control was retained by the Group.
USDm |  | 2019 |  | 2018 |  | 2017
Prepayments on vessels |  |  |  |  |  |
Cost: |  |  |  |  |  |
Balance as of 1 January |  | 45.5 |  | 88.4 |  | 44.1
Additions |  | 301.8 |  | 38.9 |  | 44.3
Transferred to vessels |  | (252.3) |  | (81.8) |  | —
Balance as of 31 December |  | 95.0 |  | 45.5 |  | 88.4
Carrying amount as of 31 December |  | 95.0 |  | 45.5 |  | 88.4
USDm |  | 2019 |  | 2018 |  | 2017
Other plant and operating equipment |  |  |  |  |  |
Cost: |  |  |  |  |  |
Balance as of 1 January |  | 5.8 |  | 3.6 |  | 2.7
Adjustment on transition to IFRS 16 |  | 0.3 |  | — |  | —
Additions |  | 2.2 |  | 2.2 |  | 1.0
Disposals |  | (0.2) |  | — |  | (0.1)
Balance as of 31 December |  | 8.1 |  | 5.8 |  | 3.6
Depreciation: |  |  |  |  |  |
Balance as of 1 January |  | 2.8 |  | 1.7 |  | 0.9
Disposals |  | — |  | — |  | (0.1)
Depreciation for the year |  | 1.0 |  | 1.1 |  | 0.9
Balance as of 31 December |  | 3.8 |  | 2.8 |  | 1.7
Carrying amount as of 31 December |  | 4.3 |  | 3.0 |  | 1.9
For information on assets provided as collateral security, please refer to note 16. Please refer to note 8 for information on impairment testing. The depreciation expense related to "Other plant and operating equipment" of USD 1.0m relates to "Administrative expense" (2018: USD 1.1m, 2017: USD 0.9m). Depreciation and impairment losses on tangible fixed assets on "Vessels and capitalized dry-docking" relate to operating expenses.

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