VII. Property, plant and equipment

VII. Property, plant and equipment

The new consolidated entities contributed €82,653k and the increase on a currency-adjusted basis would amount to €153,930k.
Impairment testing of individual locations or contracts resulted in impairment losses of €9,494k. These tests are based on projected cash flows, without taking potential efficiency gains into account. The discount rate used corresponds to the average cost of capital gross of tax and varied from 7.2% to 11.7%, depending on the cost of
money and the specific business risks associated with each country of operation.
Investments during the year amounted to €337,265k, while the net carrying amount of disposals was €10,522k; disposals generated net capital gains of €2,699k.
Leasehold improvements refer to expenses incurred to set up or adapt leased premises and concessions. This includes costs for the development of locations managed at airports, on motorways and at shopping centers in the US, as well as several locations in Europe.
Assets under construction and advances refer to North American operations for €65,089k (€57,993k at the end of 2007).
The Group uses third party assets worth €1,397k and rents businesses with assets worth €14,581k.

The items in the following table include the contractual value of property, plant and equipment held under finance leases, calculated using the financial method.

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The item "Other" refers to means of transport used by the in-flight business.
The financial payable for these transactions amounts to €11,698k and is included under "Other financial liabilities" (current) for €2,313k (€2,371k at the end of 2007) and "Other financial liabilities" (non-current) for €9,385k (€12,258k the previous year). Future lease instalments total €12,762k.