[31] Liabilities from leasing business
Non-current and current liabilities from the lease business totaled €3,070.8 million (December 31, 2020: €2,739.3 million) and could be broken down into a sum of €2,858.3 million (December 31, 2020: €2,483.6 million) that relates to the financing of the direct lease business and a sum of €212.6 million (December 31, 2020: €255.7 million) that relates to repurchase obligations resulting from the indirect lease business.
in € million |
Dec. 31, 2021 |
Dec. 31, 2020 |
|---|---|---|
Non-current liabilities from lease business |
1,793.5 |
1,715.1 |
thereof from sale and leaseback sub-lease transactions |
766.0 |
788.4 |
thereof from lease facilities |
5.2 |
5.9 |
thereof from securitizations |
874.0 |
734.2 |
thereof from repurchase obligations (indirect lease business) |
148.4 |
186.5 |
|
|
|
Current liabilities from lease business |
1,277.3 |
1,024.2 |
thereof from sale and leaseback sub-lease transactions |
342.7 |
336.6 |
thereof from lease facilities |
583.8 |
405.4 |
thereof from securitizations |
286.7 |
213.1 |
thereof from repurchase obligations (indirect lease business) |
64.1 |
69.2 |
Liabilities from the financing of the direct lease business encompassed liabilities arising from sale and leaseback sub-lease transactions with leasing companies in an amount of €1,108.6 million (December 31, 2020: €1,125.0 million). This amount still included liabilities of €109.8 million (December 31, 2020: €242.2 million) related to sale and leaseback sub-lease transactions entered into up to December 31, 2017.
Furthermore, liabilities from the financing of the direct lease business included liabilities from lease facilities in an amount of €589.0 million (December 31, 2020: €411.3 million) and liabilities from the issuance of notes (securitization) in an amount of €1,160.7 million (December 31, 2020: €947.3 million), of which €915.8 million (December 31, 2020: €519.8 million) was issued by K-Lift S.A.
The liabilities from the lease business had the following maturities:
in € million |
Dec. 31, 2021 |
Dec. 31, 2020 |
|---|---|---|
Total future payments from lease business (gross) |
3,158.3 |
2,823.8 |
due within one year |
1,311.3 |
1,055.0 |
due in one to two years |
632.3 |
572.2 |
due in two to three years |
531.4 |
485.8 |
due in three to four years |
371.5 |
383.0 |
due in four to five years |
224.6 |
231.9 |
due in more than five years |
87.2 |
95.8 |
The future payments from the lease business still included payments amounting to €113.3 million (2020: €254.2 million) that relate to sale and leaseback sub-lease transactions entered into up to December 31, 2017, most of which are due within one year.