The changes in leased assets in 2009 and 2010 were as follows:
Leased assets |
|
|
(€ thousand) |
2010 |
2009 |
|
|
|
Balance as at January 1 |
536,224 |
618,024 |
|
|
|
Group changes |
0 |
3,624 |
Currency translation adjustments |
16,830 |
15,541 |
Additions |
188,832 |
156,071 |
Disposals |
-65,140 |
-69,965 |
Depreciation |
-176,558 |
-186,802 |
Reclassification |
976 |
-269 |
|
|
|
Balance as at December 31 |
501,164 |
536,224 |
|
|
|
Gross carrying amount as at December 31 |
1,443,182 |
1,399,241 |
Accumulated depreciation |
-942,018 |
-863,017 |
The segment breakdown of leased assets is as follows:
Leased assets broken down by segment |
|||||
(€ thousand) |
LMH |
STILL |
OM |
Other |
Total |
|
|
|
|
|
|
Balance as at 1/1/2009 |
357,765 |
211,192 |
47,992 |
1,075 |
618,024 |
Changes in group of consolidated entities |
-505 |
-1,202 |
0 |
1,707 |
0 |
Group changes |
0 |
3,624 |
0 |
0 |
3,624 |
Currency translation adjustments |
12,820 |
2,718 |
7 |
-4 |
15,541 |
Additions |
95,080 |
37,953 |
19,294 |
3,744 |
156,071 |
Disposals |
-43,502 |
-20,109 |
-6,354 |
0 |
-69,965 |
Depreciation |
-109,499 |
-59,847 |
-14,852 |
-2,604 |
-186,802 |
Reclassification |
112 |
-18 |
-363 |
0 |
-269 |
|
|
|
|
|
|
Balance as at 12/31/2009 |
312,271 |
174,311 |
45,724 |
3,918 |
536,224 |
|
|
|
|
|
|
Gross carrying amount as at 12/31/2009 |
858,585 |
395,899 |
136,854 |
7,903 |
1,399,241 |
Accumulated depreciation |
-546,314 |
-221,588 |
-91,130 |
-3,985 |
-863,017 |
|
|
|
|
|
|
Balance as at 1/1/2010 |
312,271 |
174,311 |
45,724 |
3,918 |
536,224 |
Currency translation adjustments |
14,230 |
2,606 |
0 |
0 |
16,830 |
Additions |
103,549 |
56,935 |
27,305 |
1,043 |
188,832 |
Disposals |
-39,660 |
-16,053 |
-9,427 |
0 |
-65,140 |
Depreciation |
-103,939 |
-58,575 |
-11,686 |
-2,358 |
-176,558 |
Reclassification |
-157 |
62 |
1,071 |
0 |
976 |
|
|
|
|
|
|
Balance as at 12/31/2010 |
286,294 |
159,286 |
52,987 |
2,603 |
501,164 |
|
|
|
|
|
|
Gross carrying amount as at 12/31/2010 |
871,633 |
410,273 |
152,336 |
8,946 |
1,443,182 |
Accumulated depreciation |
-585,339 |
-250,987 |
-99,349 |
-6,343 |
-942,018 |
The breakdown of leased assets by contract type is shown in the following table:
Leased assets broken down by contract types |
Operating leases as lessor |
Sale with Risk |
Finance leases as lessee |
Total |
||||
(€ thousand) |
2010 |
2009 |
2010 |
2009 |
2010 |
2009 |
2010 |
2009 |
|
|
|
|
|
|
|
|
|
Land and buildings |
− |
− |
− |
− |
12,426 |
8,752 |
12,426 |
8,752 |
Industrial trucks |
386,971 |
412,991 |
86,322 |
93,069 |
25 |
83 |
473,318 |
506,143 |
Plant and machinery |
− |
− |
− |
− |
2,671 |
5,530 |
2,671 |
5,530 |
Office furniture and equipment |
3,375 |
4,030 |
641 |
954 |
8,733 |
10,815 |
12,749 |
15,799 |
Total leased assets |
390,346 |
417,021 |
86,963 |
94,023 |
23,855 |
25,180 |
501,164 |
536,224 |
Assets held under operating leases include leased assets with a residual value of €274.877 thousand (31 December 2009: €298.853 thousand) which are funded by means of sale-leaseback transactions with leasing companies and leased assets with a residual value of €115,469 thousand (31 December 2009: €118.168 thousand) that are largely funded internally or by means of bank loans.
Total operating leases have resulted in non-cancellable lease obligations from customers in the amount of €129,946 thousand (31 December 2009: €151,795 thousand).
The following table shows the maturity structure of the minimum lease payments:
Minimum lease payments |
|
|
(€ thousand) |
2010 |
2009 |
|
|
|
Cash receipts from minimum lease payments |
129,946 |
151,795 |
due within one year |
53,965 |
60,010 |
due in one to five years |
75,510 |
91,565 |
due in more than five years |
471 |
220 |
The buildings, plant and machinery, and office furniture and equipment leased under finance leases are reported in leased assets with a residual value of €23,855 thousand (31 December 2009: €25,180 thousand). The corresponding liabilities are reported as lease liabilities.
