content_image/181014.jpg content_image/181015.jpg content_image/181016.jpg content_image/181018.jpg content_image/181019.jpg
Valuations utilize significant unobservable inputs (level 3) when determining the fair value of property assets. The significant level 3 inputs include: 

<img src='content_image/181014.jpg'>

Key valuation assumptions included a weighted average discount rate of 10.5% (2012 – 9.9%), terminal capitalization rate of 7.6% (2012 – 7.5%), and investment horizon of 7 years (2012 – 5 years). 

The following table presents the changes to the cost of the company’s property, plant and equipment assets included within its property operations: 

<img src='content_image/181015.jpg'>

The following table presents the changes to the accumulated fair value changes of the company’s property, plant and equipment within its property operations: 

<img src='content_image/181016.jpg'>

The following table presents the changes to the accumulated depreciation of the company’s property, plant and equipment within its property operations: 

<img src='content_image/181018.jpg'>

## d) Private Equity and Other 

<img src='content_image/181019.jpg'>

Other property, plant and equipment includes asset owned by the company’s private equity, residential development and service operations held directly or consolidated through funds. 

