pdf (2.5 MB) - METRO Group

METRO GROUP : ANNUAL REPORT 2010 : BUSINESS
→ NOTES : NOTES TO ThE BAl ANCE ShEET
leasing payments due in the indicated periods from entities
outside METRO GROuP (METRO GROuP as lessor) are
shown below:
Up to 1 to Over
€ million
Finance leases 31/12/2010
1 year 5 years 5 years
future lease payments due (nominal) 4 9 8
discount 0 –1 –6
Present value
Operating leases 31/12/2010
4 8 2
future lease payments due (nominal) 48 119 131
Up to 1 to Over
€ million
Finance leases 31/12/2009
1 year 5 years 5 years
future lease payments due (nominal) 4 14 10
discount 0 –2 –6
Present value
Operating leases 31/12/2009
4 12 4
future lease payments due (nominal) 49 123 125
from the perspective of the lessor, the non-guaranteed
residual value must be added to the nominal minimum lease
payments of €21 million (previous year: €28 million) in
existing finance leases. The non-guaranteed residual value
amounts to €3 million (previous year: €5 million) for the
financial year. The resulting gross investment amount is
€24 million (previous year: €33 million). In addition, there
is an unrealised amount from finance leases of €7 million
(previous year: €8 million).
21. Investment properties
Investment properties are recognised at amortised cost. As
of 31 december 2010, this amounted to €238 million (previous
year: €129 million). The increase of €109 million essentially
results from the abandonment of the self-utilisation of
real estate properties and the resulting reclassification to
investment properties. The fair value of these properties is
determined by means of internationally recognised measurement
methods, in particular the comparative value
method and the discounted cash flow method. It totals
€322 million (previous year: €203 million). Rental income
from these properties amounts to €24 million (previous
→ p. 178
year: €15 million). The related expenses amount to €13 million
(previous year: €10 million). Expenses of €0 million
(previous year: €1 million) resulted from properties without
rental income.
limitations to the disposal of assets in the form of liens and
encumbrances amounted to €53 million (previous year:
€61 million). Purchasing obligations for investment properties
in the amount of €5 million (previous year: €2 million) were
made.
22. Financial assets (non-current)
€ million
Acquisition and production costs
Loans
Investments
Securities Total
At 1/1/2009 130 39 1 170
Currency translation 1 0 0 1
Additions 33 0 0 33
disposals –32 –15 0 –47
Transfers –32 –1 0 –33
At 31/12/2009 / 1/1/2010 100 23 1 124
Currency translation 1 0 0 1
Additions 78 3 115 196
disposals –49 –13 0 –62
Transfers 0 0 0 0
At 31/12/2010
Depreciation/amortisation
130 13 116 259
At 1/1/2009 10 16 0 26
Currency translations 0 0 0 0
Additions, non-scheduled 1 0 0 1
disposals 0 –15 0 –15
Write-backs 0 0 0 0
Transfers 0 –1 0 –1
At 31/12/2009 / 1/1/2010 11 0 0 11
Additions, non-scheduled 0 0 0 0
disposals 0 0 0 0
Write-backs 0 0 0 0
Transfers 0 0 0 0
At 31/12/2010 11 0 0 11
Book value at 1/1/2009 120 23 1 144
Book value at 31/12/2009 89 23 1 113
Book value at 31/12/2010 119 13 116 248