The changes in leased assets in 2011 and 2010 were as follows:
|
Leased assets | ||
|
€ thousand |
2011 |
2010 |
|
|
|
|
|
Balance as at 1/1/ |
501,164 |
536,224 |
|
|
|
|
|
Group changes |
10,690 |
0 |
|
Currency translation adjustments |
-1,449 |
16,830 |
|
Additions |
287,722 |
188,832 |
|
Disposals |
-86,623 |
-65,140 |
|
Depreciation |
-169,452 |
-176,558 |
|
Reclassification |
-2,321 |
976 |
|
|
|
|
|
Balance as at 31/12/ |
539,731 |
501,164 |
|
|
|
|
|
Gross carrying amount as at 31/12/ |
1,436,849 |
1,443,182 |
|
Accumulated depreciation |
-897,118 |
-942,018 |
The segment breakdown of leased assets is as follows:
|
Leased assets broken down by segment | ||||
|
€ thousand |
LMH |
STILL |
Other |
Total |
|
|
|
|
|
|
|
Balance as at 1/1/2010 |
312,271 |
220,035 |
3,918 |
536,224 |
|
Currency translation adjustments |
14,230 |
2,600 |
0 |
16,830 |
|
Additions |
103,549 |
84,240 |
1,043 |
188,832 |
|
Disposals |
-39,660 |
-25,480 |
0 |
-65,140 |
|
Depreciation |
-103,939 |
-70,261 |
-2,358 |
-176,558 |
|
Reclassification |
-157 |
1,133 |
0 |
976 |
|
|
|
|
|
|
|
Balance as at 31/12/2010 |
286,294 |
212,267 |
2,603 |
501,164 |
|
|
|
|
|
|
|
Gross carrying amount as at 31/12/2010 |
871,633 |
562,603 |
8,946 |
1,443,182 |
|
Accumulated depreciation |
-585,339 |
-350,336 |
-6,343 |
-942,018 |
|
|
|
|
|
|
|
Balance as at 1/1/2011 |
286,294 |
212,267 |
2,603 |
501,164 |
|
Group changes |
10,690 |
0 |
0 |
10,690 |
|
Currency translation adjustments |
387 |
-1,836 |
0 |
-1,449 |
|
Additions |
152,280 |
133,689 |
1,753 |
287,722 |
|
Disposals |
-51,931 |
-34,371 |
-321 |
-86,623 |
|
Depreciation |
-102,152 |
-65,802 |
-1,498 |
-169,452 |
|
Reclassification |
199 |
-2,520 |
0 |
-2,321 |
|
|
|
|
|
|
|
Balance as at 31/12/2011 |
295,767 |
241,427 |
2,537 |
539,731 |
|
|
|
|
|
|
|
Gross carrying amount as at 31/12/2011 |
841,619 |
586,699 |
8,532 |
1,436,850 |
|
Accumulated depreciation |
-545,852 |
-345,272 |
-5,995 |
-897,119 |
The breakdown of leased assets by contract type is shown in the following table:
|
Leased assets broken down by contract types |
Operating leases |
Sale with Risk |
Finance leases |
Total | ||||
|
€ thousand |
2011 |
2010 |
2011 |
2010 |
2011 |
2010 |
2011 |
2010 |
|
|
|
|
|
|
|
|
|
|
|
Land and buildings |
− |
− |
− |
− |
6,798 |
12,426 |
6,798 |
12,426 |
|
Industrial trucks |
455,075 |
386,971 |
66,464 |
86,322 |
33 |
25 |
521,572 |
473,318 |
|
Plant and machinery |
− |
− |
− |
− |
301 |
2,671 |
301 |
2,671 |
|
Office furniture and equipment |
2,261 |
3,375 |
237 |
641 |
8,562 |
8,733 |
11,060 |
12,749 |
|
Total leased assets |
457,336 |
390,346 |
66,701 |
86,963 |
15,694 |
23,855 |
539,731 |
501,164 |
Assets held under operating leases include leased assets with a residual value of €333,153 thousand (31 December 2010: €274,877 thousand) that are funded by means of sale and leaseback transactions with leasing companies and leased assets with a residual value of €124,183 thousand (31 December 2010: €115,469 thousand) that are largely funded internally or by means of bank loans.
Total operating leases resulted in non-cancellable lease obligations from customers amounting to €162,140 thousand (31 December 2010: €129,946 thousand).
The following table shows the maturity structure of the minimum lease payments:
|
Minimum lease payments | ||
|
€ thousand |
2011 |
2010 |
|
|
|
|
|
Cash receipts from minimum lease payments |
162,140 |
129,946 |
|
due within one year |
66,613 |
53,965 |
|
due in one to five years |
94,768 |
75,510 |
|
due in more than five years |
759 |
471 |
The buildings, plant and machinery, and office furniture and equipment leased under finance leases are reported in leased assets with a residual value of €15,694 thousand (31 December 2010: €23,855 thousand). The corresponding liabilities are reported as lease liabilities.
