[20] Lease receivables

For leases where 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

2011

2010

 

 

 

Gross investments

399,726

411,116

due within one year

135,897

140,737

due in one to five years

254,724

260,835

due in more than five years

9,105

9,544

 

 

 

Present value of outstanding minimum lease payments

361,221

367,758

due within one year

118,381

120,950

due in one to five years

234,043

237,571

due in more than five years

8,797

9,237

 

 

 

Unrealised financial income

38,505

43,358

Gross investments include minimum lease payments from non-cancellable sub-leases amounting to €326,930 thousand (31 December 2010: €336,585 thousand).

Lease receivables include the unguaranteed residual values accruing to the benefit of the KION Group in the amount of €38,714 thousand (31 December 2010: €39,640 thousand).

Lease receivables also include receivables in the amount of €1,684 thousand (31 December 2010: €3,013 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.

to pagetop