NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT 16. NON-CURRENT ASSETS — PROPERTY PLANT AND EQUIPMENT  Annual Report 2013 85 3 months to 31 Mar 13  $000 12 months to 31 Dec 12  $000 3 months to 31 Mar 12  $000  (reviewed) (a) Reconciliation of carrying amounts at the beginning and  end of the period Freehold Land Opening balance, at fair value 86,086 75,453 75,453 Additions - 14,180 - Net revaluation increment/(decrement) - (3,547) - Closing balance, at fair value (b) 86,086 86,086 75,453 Pastoral Leases Opening balance, at fair value 392,193 429,466 429,466 Net revaluation decrement recognised in income statement - (8,085) - Net revaluation increment/(decrement) recognised in asset  revaluation reserve - (29,188) - Closing balance, at fair value (b) (c) 392,193 392,193 429,466 Buildings and Improvements Opening balance, at fair value 122,205 108,563 108,563 Additions 1,051 13,642 1,893 Impairment (1,811) - - Disposals (10) - - Closing balance, at fair value (b) 121,435 122,205 110,456 Accumulated Depreciation Opening balance (31,566) (28,020) (28,020) Depreciation for the period (1,157) (3,546) (877) Disposals 1 - - Closing balance (b) (32,722) (31,566) (28,897) Fair value 121,435 122,205 110,456 Accumulated depreciation and impairment (32,722) (31,566) (28,897) Net carrying amount 88,713 90,639 81,559 Net freehold land, pastoral leases, buildings and improvements  566,992 568,918 586,478 Plant and Equipment Opening balance, at cost 79,909 65,198 65,198 Additions 3,731 17,307 2,646 Disposals (137) (2,596) (332) Closing balance, at cost 83,503 79,909 67,512 Accumulated Depreciation Opening balance (45,894) (42,192) (42,192) Depreciation for the period (1,571) (5,859) (1,326) Disposals  127 2,157  304 Closing balance (47,338) (45,894) (43,214) Net plant and equipment 36,165 34,015 24,298 Total net carrying amount of property, plant and equipment  603,157 602,933 610,776