Contingent liabilities
|
Contingent liabilities | ||
|
€ thousand |
2012 |
2011 |
|
|
|
|
|
Liabilities on bills of exchange |
4,445 |
3,516 |
|
Liabilities on guarantees |
3,197 |
2,129 |
|
Collateral security for third-party liabilities |
65 |
69 |
|
Total contingent liabilities |
7,707 |
5,714 |
Guarantees amounting to €797 thousand (2011: €2,129 thousand) relate to contingent liabilities assumed jointly with another shareholder of a joint venture.
Litigation
The legal risks arising from the KION Group's business are typical of those faced by any company operating in this sector. The Company is a party in a number of pending lawsuits in various countries. It cannot assume with any degree of certainty that it will win any of the lawsuits or that the existing risk provision in the form of insurance or provisions will be sufficient in each individual case. However, the Company believes it is remote that these ongoing lawsuits will result in additional provisions.
Other financial commitments
|
Other financial commitments | ||
|
€ thousand |
2012 |
2011 |
|
|
|
|
|
Liabilities under non-cancellable operating leases |
194,216 |
205,394 |
|
Capital expenditure commitments in property, plant and equipment |
7,191 |
6,109 |
|
Capital expenditure commitments in intangible assets |
2,597 |
1,630 |
|
Other financial commitments |
18,530 |
16,958 |
|
Total other financial commitments |
222,534 |
230,091 |
The maturity structure of the total future minimum lease payments under non-cancellable operating leases is as follows:
|
Minimum lease payments | ||
|
€ thousand |
2012 |
2011 |
|
|
|
|
|
Nominal minimum lease payments |
194,216 |
205,394 |
|
due within one year |
38,808 |
58,856 |
|
due in one to five years |
90,394 |
104,634 |
|
due in more than five years |
65,014 |
41,904 |
The minimum lease payments relate to payments for leased buildings, machinery, office furniture and equipment (procurement leases) as well as payments for industrial trucks refinanced with a sale-and-leaseback and sub-leased to end customers (sale-and-leaseback sub-leases).
|
Minimum lease payments broken down into procurement leases & sale-and-leaseback subleases | ||||
|
|
Procurement leases |
Sale-and-Leaseback-Subleases | ||
|
€ thousand |
2012 |
2011 |
2012 |
2011 |
|
|
|
|
|
|
|
Minimum lease payments (cash out) |
142,074 |
151,486 |
52,142 |
53,908 |
|
due within one year |
21,329 |
38,134 |
17,479 |
20,722 |
|
due in one to five years |
55,745 |
71,452 |
34,649 |
33,182 |
|
due in more than five years |
65,000 |
41,900 |
14 |
4 |
|
|
|
|
|
|
|
Minimum lease payments (cash in) |
- |
- |
6,843 |
11,257 |
|
due within one year |
- |
- |
3,572 |
5,813 |
|
due in one to five years |
- |
- |
3,268 |
5,440 |
|
due in more than five years |
- |
- |
3 |
4 |
The future minimum lease payments for sale-and-leaseback transactions not recognised on the statement of financial position amounting to €52,142 thousand are partially offset by payments received under non-cancellable sub-leases amounting to €6,843 thousand. The future payments also include obligations arising from the refinancing of industrial trucks for which there are no offsetting receipts under short-term sub-leases.
