[17] Leased assets
The changes in leased assets in 2019 and 2018 were as follows: > TABLE 063
in € million |
2019 |
2018 |
|---|---|---|
Balance as at 01/01/ |
1,261.8 |
1,246.3 |
Group changes |
7.3 |
− |
Currency translation adjustments |
12.8 |
–9.7 |
Additions |
587.1 |
514.9 |
Disposals |
–184.4 |
–189.4 |
Depreciation |
–323.3 |
–306.3 |
Impairment |
− |
–0.4 |
Reclassification |
− |
6.4 |
|
|
|
Balance as at 31/12/ |
1,361.2 |
1,261.8 |
Gross carrying amount as at 31/12/ |
2,040.7 |
1,978.2 |
Accumulated depreciation |
–679.5 |
–716.4 |
Leased assets are attributable exclusively to the Industrial Trucks & Services segment and relate to industrial trucks in the amount of €1,361.2 million (2018: €1,261.8 million) that are provided for use to external customers under operating leases in the direct lease business or as part of the indirect lease business.
Leased assets include assets provided to customers with a carrying amount of €413.7 million (2018: €405.4 million) that are financed by means of sale and leaseback sub-lease transactions with leasing companies. They also include assets provided to customers with a carrying amount of €387.4 million (2018: €151.7 million) that are financed by means of lease facilities and the issuance of notes (securitisation). Furthermore, leased assets include assets in connection with the indirect lease business worth €553.1 million (2018: €639.5 million).
Leased assets resulted in future lease payments expected to be paid by customers under operating leases amounting to €810.1 million (2018: €599.3 million).
The maturity structure of these expected future payments in the lease business is shown in > TABLE 064.
in € million |
2019 |
2018 |
|---|---|---|
Payments from lease business |
810.1 |
599.3 |
due within one year |
260.2 |
200.5 |
due in one to two years |
214.9 |
153.5 |
due in two to three years |
163.1 |
115.6 |
due in three to four years |
108.6 |
76.8 |
due in four to five years |
51.8 |
42.6 |
due in more than five years |
11.5 |
10.3 |