[17] Leased assets

The changes in leased assets in 2018 and 2017 were as follows: > TABLE 070

Leased assets

 

070

in € million

2018

2017*

*

Leased assets for 2017 were restated due to the initial application of IFRS 15 and IFRS 16

Balance as at 01/01/

1,246.3

1,143.9

Group changes

0.5

Currency translation adjustments

–9.7

–12.0

Additions

514.9

588.5

Disposals

–189.4

–169.1

Depreciation

–306.3

–305.6

Impairment

–0.4

Reclassification

6.4

0.1

 

 

 

Balance as at 31/12/

1,261.8

1,246.3

Gross carrying amount as at 31/12/

1,978.2

2,056.0

Accumulated depreciation

–716.4

–809.7

Leased assets are attributable to the Industrial Trucks & Services segment and relate to industrial trucks in the amount of €1,261.8 million (31 December 2017: €1,246.3 million) that are provided for use to external customers under operating leases in the direct leasing business or as part of the indirect leasing business.

Leased assets include assets provided to customers with a residual book value of €405.4 million (31 December 2017: €419.7 million) that are financed by means of sale and leaseback sub-lease transactions with leasing companies. Leased assets in connection with indirect leasing business are worth €639.5 million (31 December 2017: €724.4 million); the corresponding residual value obligations stood at €319.5 million (31 December 2017: €340.7 million).

Leased assets resulted in future lease payments expected to be paid by customers under operating leases amounting to €599.3 million (31 December 2017: €516.7 million).

The maturity structure of these expected future payments in the leasing business is shown in > TABLE 071.

Expected future payments from leasing business

 

071

in € million

2018

2017*

*

Leased assets for 2017 were restated due to the initial application of IFRS 15 and IFRS 16

Payments from leasing business

599.3

516.7

due within one year

200.5

186.2

due in one to two years

153.5

126.3

due in two to three years

115.6

94.9

due in three to four years

76.8

62.8

due in four to five years

42.6

34.8

due in more than five years

10.3

11.8