Annual Report LRP 2007 - Rheinland Pfalz Bank

114 LRP 2007 CONSOLIDATED FINANCIAL STATEMENTS
1 millions
Land Technical Operating Advance pay- Leased Leased Total
and equipment and office ments and assets under assets under
buildings and equipment assets under finance operating
machines construction leases leases
Historical and production cost
Balance as of1 January 2006 143 0 50 0 0 0 193
Changes in the basis of consolidation 0 0 0 0 0 0 0
Currency translation differences 0 0 0 0 0 0 0
Additions 0 0 2 0 0 0 2
Transfers – 8 0 0 0 8 0 0
Disposals 0 0 – 10 0 0 0 – 10
Balance as of 31 December 2006 135 0 42 0 8 0 185
Amortization and impairment losses/
reversals of impairment losses
Balance as of1 January 2006 – 51 0 – 41 0 0 0 – 92
Changes in the basis of consolidation 0 0 0 0 0 0 0
Currency translation differences 0 0 0 0 0 0 0
Amortization – 3 0 – 3 0 – 1 0 – 7
Impairment losses and write-downs 0 0 0 0 0 0 0
Reversals of impairment losses 0 0 0 0 0 0 0
Transfers 0 0 0 0 0 0 0
Disposals 0 0 10 0 0 0 10
Balance as of 31 December 2006 – 54 0 – 34 0 – 1 0 – 89
Carrying amounts
Balance as of 1 January 2006 92 0 9 0 0 0 101
Balance as of 31 December 2006 81 0 8 0 7 0 96
No pledges or other restrictions of disposal rights are
assigned to the carried items of property and equipment.
The carrying amount of assets leased under finance
lease agreements relates solely to buildings.
Dimeter Grundstücksverwaltungsgesellschaft GmbH &
Co. Vermietung GmbH as the lessor and LRP as the lessee
entered into a finance lease for an office building in
Mainz, Germany. The lease has a term of 20 years, with
the conversion date fixed to 31 August 2020. The lessee
has an option to buy at the end of the tenth or fifteenth
year of the lease term when the lessee may purchase
the leased office building at the present value of the
rents and contributions to administrative expenses
payable until the end of the lease term, plus the present
value of the market value of the leased office building
at the end of its lease term. At the end of the lease term,
the lessee has an option to buy the leased office building
at its market value.