In the case of leases under which KION Group companies lease assets directly to customers as part of the Group's financing activities, the Group's net investment in the lease is reported as a lease receivable.
The amounts recognised as lease receivables are based on the following data:
Lease receivables |
|
|
(€ thousand) |
2010 |
2009 |
|
|
|
Gross investment |
411,116 |
425,482 |
due within one year |
140,737 |
136,903 |
due in one to five years |
260,835 |
277,826 |
due in more than five years |
9,544 |
10,753 |
|
|
|
Present value of outstanding minimum lease payments |
367,758 |
375,353 |
due within one year |
120,950 |
115,388 |
due in one to five years |
237,571 |
249,682 |
due in more than five years |
9,237 |
10,283 |
|
|
|
Unrealised financial income |
43,358 |
50,129 |
Gross investments include minimum lease payments from non-cancellable subleases amounting to €336,585 thousand (31 December 2009: €353,228 thousand).
They also include the unguaranteed residual values accruing to the benefit of the KION Group in the amount of €39,640 thousand (31 December 2009: €40,275 thousand).
Lease receivables include receivables in the amount of €3,013 thousand (31 December 2009: €4,592 thousand) that have been sold but whose significant risks and rewards remain with the KION Group due to default and residual-value guarantees. Corresponding liabilities in the same amounts have been recognised.
