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NOTE 29
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OPERATING AND FINANCE LEASES
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The Group as lessor, operating leases
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The Group leases fixtures and equipment under operating leases. Essentially, equipment is rented out to Elopak's customers who use them in their own production.
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Specification of income on operating leases
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2013
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2012
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Total variable leases recognised as income
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101 495
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90 229
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Minimum leases (including fixed leases) recognised as income
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3 933
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Total variable leases recognised as income
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105 428
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90 229
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At the balance sheet date, the Group has contracted the following future minimum leases:
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2013
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2012
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Totally due next year
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80 291
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70 128
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Totally due in 2-5 years
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225 228
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175 879
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Totally due after 5 years
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41 095
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28 075
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Total
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346 614
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274 082
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The amounts have not been discounted.
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The Group as lessor, finance leases
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Specification of income from finance leases
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2013
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2012
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Total variable leases recognised as income
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6 019
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Finance income from finance leasing contracts
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1 476
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Total
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6 019
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1 476
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Gross investment compared to the present value of outstanding minimum leases
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2013
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2012
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Gros receivables on leasing contracts
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27 528
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17 714
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Finance income not yet earned
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- 3 303
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- 2 969
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Net investment from finance leases (present value)
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24 225
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14 745
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The Group as lessee, operating leases
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Specification of expenses on operating leases
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2013
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2012
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Total variable leases recognised as expenses
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153 379
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184 846
|
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Minimum leases (including fixed leases) recognised as expense
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151 328
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47 979
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Subleases recognised as cost reductions
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- 934
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- 899
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Total leasing costs
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303 773
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231 926
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Due for payment
|
2013
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2012
|
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Total costs next year
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280 803
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238 682
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Total costs 2-5 years
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887 725
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736 636
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Total costs after 5 years
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426 201
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478 246
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Total
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1 594 729
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1 453 564
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The amounts have not been discounted.
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Distribution of the same leasing obligation on leasing objects
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2013
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2012
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Buildings and land
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1 308 512
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751 031
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Machines and installations
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193 384
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16 839
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Fixtures, vehicles and equipment
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92 833
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685 694
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Total leasing obligations related to operating lease commitments
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1 594 729
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1 453 564
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The Group as lessee, finance leasing
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Specification of leasing costs
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2013
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2012
|
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Total variable leases recognised as expenses
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8 922
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7 263
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Total leasing costs
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8 922
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7 263
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Future minimum leases and corresponding present values, by due dates:
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Minimum rent
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Calculated interest
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Present value
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Total due in one year
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6 410
|
305
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6 105
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Total due in year 2-5
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4 471
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266
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4 205
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Total due after 5 years
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Total leasing obligations related to finance leasing
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10 881
|
571
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10 310
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Net carrying value of leased assets, by asset class
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2013
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2012
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Buildings and land
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Machines and installations
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3 362
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Fixtures, vehicles and equipment
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15 447
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19 470
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Total carrying value of leased assets
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15 447
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22 832
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The fixed assets are also included in note 9.
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