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4Financial position – resultsNotes to the consolidated financial statementsOperating leases: future minimum payments (principal)(€ millions) Total Less than 1 year 1 to 5 years More than 5 yearsAt 31 December 2012 247 60 129 58At 31 December 2011 271 57 137 77These operating leases mainly concern storage depots.At 31 December 2012, future minimum payments under operating leases broke down as €184 million at fixed rates and €62 million atfloating rates, compared with €200 million and €71 million, respectively, at year-end 2011.Total lease payments recorded in the 2012 income statement amounted to €75 million (2011: €73 million), including €44 million forleased warehouses (2011: €44 million), €14 million for other property leasing arrangements (2011: €12 million), and €17 million forrental costs (2011: €17 million).Other commitmentsSellers’ warranties concerning consolidated entitiesDescriptionSignature dateDisposal of Arjo Wiggins Appleton Ltd (1) 15/05/2009Amount (in millionsof currency units)Amount(in € millions)Pension plan commitments GBP 6 7 IndefiniteTax risks USD 45 34 31/12/2015Disposal of Arjowiggins Arches SAS and Arjo Wiggins Deutschland GmbH (2)Guarantees given to Munksjö France 26/02/2011 40 25/02/2018Guarantees given to Munksjö Germany 26/02/2011 1 25/02/2021Disposal of Papeteries Canson to Hamelin groupSellers’ warranty 30/06/2011 1.5 30/06/2016(1) Guarantees given to the buyer of Arjo Wiggins Appleton Limited (AWA Ltd):When it sold AWA Ltd, Sequana specifically excluded any seller warranties in respect of the Fox River environmental dispute in the US, or any risks arising out of theagreement to sell Appleton Papers Inc. on 5 July 2001 and the undertakings concerning the Low Fox River environmental dispute dating from 9 November 2001.The guarantees that were given relate only to the entities’ normal business, tax risks and pension benefit obligations to approximately ten former employees undertakenby AWA Ltd prior to the sale. As indicated in the previous table, apart from the pension benefit obligations, all of these guarantees are for capped amounts and periodsof limited duration. Sequana has recognised provisions for the pension benefit obligations in its consolidated financial statements since 2009.(2) Counter-guarantee of Arjowiggins’ commitments given by Sequana in favour of Munksjö: the tax and environmental guarantees expire in seven years and the competitionguarantees in five years.Collateral provided for financing contractsThe following collateral was put up by Sequana (a) to guarantee its obligations as borrower in respect of (i) a loan agreement with Natixis signedon 30 April 2012 and (ii) a confirmed overdraft facility agreement for €5,000,000 with BNPP signed on 30 April 2012 and (b) to guaranteeArjowiggins’ obligations as borrower in respect of a syndicated loan agreement with a pool of banks initially signed on 25 July 2007 and subsequentlyamended on 30 April 2012:- pledge by Sequana of Antalis shares pursuant to the terms of a securities pledge agreement dated 30 April 2012 along with the correspondingpledge statement;- pledge of receivables held by Sequana on Antalis in connection with inter-company loans and current accounts, pursuant to the terms of areceivables pledge agreement dated 30 April 2012.Sequana has also pledged receivables it holds on Antalis in connection with inter-company loans and current accounts pursuant to the terms ofa receivables pledge agreement dated 30 April 2012. This pledge is to guarantee Arjowiggins’ obligations as borrower in respect of a syndicatedloan agreement with a pool of banks initially signed on 25 July 2007 and subsequently amended on 30 April 2012.Other operating contingent liabilitiesTo the best of the Company’s knowledge, no Group company has omitted to report any material commitment.Maturity156 | Sequana | 2012 Document de référence (English version)