This excerpt taken from the ICI 6-K filed Mar 21, 2007.
(iii) Capitalisation of interest
At 31 December 2006, the Group had capitalised interest with a gross carrying amount of £98m (2005 £100m) less accumulated amortisation of £72m (2005 £75m). The credit relating to capitalised interest of £7m (2005 charge £2m; 2004 charge £4m) is the net of additions in the period of £11m (2005 £3m; 2004 £1m) offset by an amortisation charge of £4m (2005 £5m; 2004 £5m).
36 Differences between IFRS and US accounting principles (continued)
Notes relating to the differences between IFRS and US accounting principles (continued)