+1 - Solvay
+1 - Solvay
+1 - Solvay
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Financial<br />
Finance leases<br />
EUR Million<br />
Land and<br />
buildings<br />
Fixtures and<br />
equipment<br />
Net carrying amount of finance leases included in the table above 6 3 9<br />
The carrying amount of lease obligations approximates to their fair value.<br />
Finance lease obligations<br />
EUR Million<br />
Minimum lease payments<br />
Total<br />
Present value of minimum<br />
lease payments<br />
Amounts payable under finance leases 2006 2007 2006 2007<br />
Within one year 5 2 4 1<br />
In years two to five inclusive 8 8 7 7<br />
Beyond five years 4 1 3 1<br />
Less: future finance charges -3 -2<br />
Present value of Lease Obligations 14 9 14 9<br />
Less: Amount due for settlement within 12 months 4 1<br />
Amount due for settlement after 12 months 10 8<br />
89<br />
Operating lease obligations<br />
EUR Million 2006 2007<br />
Total minimum lease payments under operating leases recognized<br />
49 57<br />
in the income statement of the year<br />
EUR Million 2006 2007<br />
Within one year 46 48<br />
In years two to five inclusive 139 129<br />
Beyond five years 62 66<br />
Total of future minimum lease payments under non-cancellable operating leases 247 243<br />
(25) Other investments<br />
EUR Million 2006 2007<br />
Fair value at 1 January 706 790<br />
Disposed of during the year -1 -84<br />
Acquired during the year 18 72<br />
Increase (decrease) in fair value 103 -293<br />
Other -36 -19<br />
Fair value at 31 December 790 466<br />
Of which recognized directly in equity 244 -49<br />
This heading contains the financial assets held for sale. It contains the shares held in Fortis, Sofina, Innogenetics<br />
and Arqule as well as companies of non-significant size which are neither consolidated nor accounted for by<br />
the equity method. Fortis and Sofina are not allocated to segments, whilst Innogenetics and Arqule are allocated to<br />
the Pharmaceuticals Sector.<br />
In order to put a figure on the risks attached to the financial assets held for sale, we have taken the volatility of<br />
the shares of each of these companies (Fortis: 27 %, Sofina: 18 %, Arqule: 47 % and Innogenetics: 29 %) over<br />
the past 12 months. An increase (decrease) in the prices of these shares in accordance with their respective<br />
volatilities would impact the variation in fair value by ± EUR 205 million in equity (± EUR 229 million in 2006).<br />
<strong>Solvay</strong> Global Annual Report 2007
Change language