ACQUISITIONS LESS DISPOSALS OF NON-FINANCIAL NON-PRODUCED ASSETS (K.2)

6.06 Definition:

Non-financial non-produced assets consist of land and other tangible non-produced assets that may be used in the production of goods and services, and intangible non-produced assets.

6.07 Land is defined as the ground itself, including soil covering and associated surface water . The associated surface water includes any inland waters (reservoirs, lakes, rivers, etc.) over which ownership rights can be exercised.

6.08 The following items are not included in land:

  1. buildings or other structures on the land or through it (roads, tunnels, etc.);
  2. vineyards, orchards, or other plantations of trees and any growing crops, etc.;
  3. subsoil assets;
  4. non-cultivated biological resources;
  5. water resources below the ground.

Items a) et b) are produced fixed assets, items c), d) and e) belong to tangible non-produced assets.

6.09 Acquisitions and disposals of land are valued at current market prices prevailing at the time the acquisitions/disposals occur. Transactions with land are recorded at the same value both in the accounts of the purchaser and in those of the seller. This value excludes the costs involved in the transfer of ownership of land, which are treated as gross fixed capital formation.

6.10 Acquisitions and disposals of other tangible non-produced assets cover subsoil assets, non-cultivated biological resources and water resources. Subsoil assets include coal, oil and natural gas reserves, metallic mineral reserves and non-metallic mineral reserves .

6.11 Acquisitions and disposals of other tangible non-produced assets are valued at current market prices prevailing at the time the acquisitions/disposals occur. Acquisitions and disposals exclude the associated costs of ownership transfer. The latter are recorded as gross fixed capital formation.

6.12 Intangible non-financial non-produced assets consist of patented entities, leases or other transferable contracts, purchased goodwill and other intangible non-produced assets. Such leases are on land, subsoil assets and residential and non-residential buildings . Further examples include transferable contracts with athletes and authors. The value of the acquisitions or disposals of leases or other transferable contracts consists of payments made to the original or subsequent tenants or lessees when the leases or concessions are sold or transferred to other institutional units. The value of acquisitions and disposals of intangible non-produced assets excludes the associated costs of ownership transfer. The costs of ownership transfer are a component of gross fixed capital formation.

6.13 Acquisitions less disposals of non-financial non-produced assets are recorded in the capital account of the sectors, the total economy and the rest of the world.