Financial Report 2003 (english) PDF • 287.26 KB - Kuoni Group

40
Annex
31. Leasing Liabilities
Finance Lease
Principal Interest
CHF 1000 31 Dec 2003 31 Dec 2003 31 Dec 2003 31 Dec 2002
Liabilities payable up to 1 year 185 391 576 2 515
Liabilities payable 1 to 5 years 742 1 525 2 267 3 429
Liabilities payable over 5 years 18 664 6 935 25 599 34 630
Total 19 591 8 851 28 442 40 574
Interest –8 851 –15 469
Total leasing liabilites recognised
in the balance sheet at present value 19 591 25 105
The above leasing liabilities primarily relate to two ships chartered by Intrav. The leasing agreements are denominated
in USD, with the bulk of capital being repaid upon expiry of the agreements.
Operating Lease
CHF 1000 31 Dec 2003 31 Dec 2002
Liabilities payable up to 1 year 77 240 88 230
Liabilities payable 1 to 5 years 220 667 212 354
Liabilities payable over 5 years 38 556 57 961
Total leasing liabilites recognised in the balance sheet 336 463 358 545
Amount recognised in the income statement in current year 89 858
This position mainly relates to leasing liabilities of Edelweiss and Novair for certain aircraft and to lease contracts for
buildings.
32. Liabilities to Pension Funds
CHF 1000 31 Dec 2003 31 Dec 2002
Total liabilities of the Group to pension funds 162 155
33. Post-Balance-Sheet Events
The consolidated financial statements of the Kuoni Group were approved by the Board of Directors on 17 March 2004.
Final approval is subject to acceptance by the General Meeting of Shareholders, which will take place on 28 April 2004.
The selling price for BTI Central Europe, recognised in the balance sheet under other assets, was paid in full on
30 January 2004.
The Kuoni Group prematurely repaid bank debts amounting to CHF 70.2 million on 17 February 2004.
No events have occurred since 31 December 2003 that would either necessitate an adjustment to the carrying values of
the Group’s assets and liabilities or need to be disclosed here.