[18] Leased assets
The changes in leased assets in 2020 and 2019 were as follows:
in € million |
2020 |
2019 |
|---|---|---|
Balance as at Jan. 1 |
1,361.2 |
1,261.8 |
Group changes |
– |
7.3 |
Currency translation adjustments |
–27.3 |
12.8 |
Additions |
478.8 |
587.1 |
Disposals |
–149.5 |
–184.4 |
Depreciation |
–327.9 |
–323.3 |
Impairment |
–2.0 |
– |
|
|
|
Balance as at Dec. 31 |
1,333.3 |
1,361.2 |
Gross carrying amount as at Dec. 31 |
2,001.5 |
2,040.7 |
Accumulated depreciation |
–668.3 |
–679.5 |
Leased assets are attributable exclusively to the Industrial Trucks & Services segment and relate to industrial trucks that are provided for use to external customers under operating leases in the direct leasing business or as part of the indirect leasing business.
In the direct leasing business, industrial trucks with a carrying amount of €880.7 million (December 31, 2019: €808.1 million) were provided to customers for their use. The indirect leasing business gave rise to assets amounting to €452.6 million (December 31, 2019: €553.1 million).
As at December 31, 2020, leased assets of €341.5 million (December 31, 2019: €225.0 million) were available as collateral for liabilities from the leasing business.
Leased assets resulted in future lease payments expected to be paid by customers under operating leases amounting to €883.7 million (December 31, 2019: €810.1 million). The maturity structure of these expected future payments in the leasing business is shown in the following table:
in € million |
2020 |
2019 |
|---|---|---|
Payments from lease business |
883.7 |
810.1 |
due within one year |
297.4 |
260.2 |
due in one to two years |
241.1 |
214.9 |
due in two to three years |
178.9 |
163.1 |
due in three to four years |
108.4 |
108.6 |
due in four to five years |
46.5 |
51.8 |
due in more than five years |
11.4 |
11.5 |