PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2019

Property, plant and equipment [abstract]

Disclosure of detailed information about property, plant and equipment

	Land	Industrial buildings		Plant, machinery and equipment		Other assets		Advances and assets under construction		Total
	(€ thousand)
Gross carrying amount at January 1, 2018	23,537	341,749		1,959,462		136,991		56,760		2,518,499
Additions	25	14,710		81,936		9,679		194,444		300,794
Divestitures	—	(641	)	(16,684	)	(2,740	)	(238	)	(20,303	)
Reclassification	—	17,225		16,853		1,137		(35,215	)	—
Translation differences and other movements	12	330		(3,130	)	(593	)	(560	)	(3,941	)
Balance at December 31, 2018	23,574	373,373		2,038,437		144,474		215,191		2,795,049
Impact of IFRS adoption at January 1, 2019	—	17,226		10,011		36,298		—		63,535
Additions	30	15,560		176,235		18,102		142,227		352,154
Divestitures	—	(884	)	(11,281	)	(7,673	)	(459	)	(20,297	)
Reclassification	—	5,937		148,102		1,524		(155,563	)	—
Translation differences and other movements	5	(2,554	)	16		(197	)	—		(2,730	)
Balance at December 31, 2019	23,609	408,658		2,361,520		192,528		201,396		3,187,711
Accumulated amortization at January 1, 2018	—	142,260		1,555,769		110,210		—		1,808,239
Depreciation	—	10,407		136,793		9,184		—		156,384
Divestitures	—	(627	)	(15,976	)	(2,621	)	—		(19,224	)
Translation differences and other movements	—	2,864		(1,050	)	(2,714	)	—		(900	)
Balance at December 31, 2018	—	154,904		1,675,536		114,059		—		1,944,499
Depreciation	—	15,443		159,302		16,737		—		191,482
Divestitures	—	(417	)	(11,001	)	(3,917	)	—		(15,335	)
Translation differences and other movements	—	(2,798	)	2		209		—		(2,587	)
Balance at December 31, 2019	—	167,132		1,823,839		127,088		—		2,118,059
Carrying amount at:
January 1, 2018	23,537	199,489		403,693		26,781		56,760		710,260
December 31, 2018	23,574	218,469		362,901		30,415		215,191		850,550
December 31, 2019	23,609	241,526		537,681		65,440		201,396		1,069,652
of which right-of use assets under IFRS 16	—	15,834		7,612		34,319		—		57,765

Disclosure of quantitative information about right-of-use assets

The main contracts within the scope of IFRS 16 for which the Group is lessee primarily relate to Ferrari stores (included within other assets) and industrial buildings.

	At December 31, 2019	At January 1, 2019
	(€ thousand)
Industrial buildings	15,834	17,226
Plant, machinery and equipment	7,612	10,011
Other assets	34,319	36,298
Right-of-use assets	57,765	63,535

The following table summarizes the changes in the carrying amount of right-of-use assets for the year ended December 31, 2019:

	Industrial buildings		Plant, machinery and equipment		Other assets		Total
	(€ thousand)
Balance at December 31, 2018 (*)	9		—		765		774
Impact of IFRS 16 adoption	17,226		10,011		36,298		63,535
Balance at January 1, 2019	17,235		10,011		37,063		64,309
Additions	3,532		2,800		6,428		12,760
Depreciation	(4,664	)	(5,023	)	(7,380	)	(17,067	)
Translation differences and other movements	(269	)	(176	)	(1,792	)	(2,237	)
Balance at December 31, 2019	15,834		7,612		34,319		57,765

___________________________

(*) Relates to lease assets that were previously recognized as ‘finance leases’ under IAS 17 - Leases.

Disclosure of amounts recognized in Income Statement in relation to leases

Amounts recognized in the income statement in relation to leases for the year ended December 31, 2019 were as follows:

	For the year ended December 31, 2019
	(€ thousand)
Depreciation of right-of-use assets	17,067
Interest expense on lease liabilities	1,172
Variable lease payments not included in the measurement of lease liabilities	1,143
Expenses relating to short-term leases and leases of low-value assets	4,635
Total expenses recognized	24,017