Exchange of property, plant and equipment

IAS 16 generally measures the cost of the acquired asset at fair value unless the exchange lacks commercial substance or neither the fair value of the asset received nor that of the asset given up is reliably measurable. Where fair value is not used, measure cost at the carrying amount of the asset given up. Consider any cash paid or received and derecognise the surrendered asset under the applicable requirements. Do not apply the IFRS 15 customer-contract rule automatically.