[22] Lease receivables
Lease receivables break down as follows:
in € million |
Dec. 31, 2021 |
Dec. 31, 2020 |
|---|---|---|
Nominal value of outstanding lease payments |
1,705.4 |
1,527.1 |
due within one year |
505.0 |
431.8 |
due in one to two years |
431.4 |
376.0 |
due in two to three years |
340.6 |
307.3 |
due in three to four years |
235.2 |
223.1 |
due in four to five years |
128.1 |
128.5 |
due in more than five years |
65.1 |
60.5 |
|
|
|
Plus unguaranteed residual values |
248.9 |
215.2 |
Less unearned financial income |
–155.3 |
–140.1 |
Present value of outstanding lease payments |
1,798.9 |
1,602.2 |
Valuation allowances for lease receivables |
–9.2 |
–6.9 |
Adjustment from hedge accounting |
–5.7 |
–0.0 |
Total lease receivables |
1,784.0 |
1,595.3 |
The average loss rates used for the recognition of valuation allowances for lease receivables in accordance with the simplified impairment approach under IFRS 9 vary depending on the country. They ranged from 0.1 percent to 0.4 percent as at December 31, 2021 (December 31, 2020: 0.1 percent to 0.4 percent).
As at December 31, 2021, outstanding lease payments with a present value of €654.4 million (December 31, 2020: €500.4 million) were available as collateral for liabilities from the lease business.