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.
