financial report and registration document 2011 - Groupe SEB

5 Notes
Consolidated fi nancial statements
to the consolidated fi nancial statements
The Group owns all of its plants, except the sites of São Bernardo (Brazil)
and Shanghai (China).
Logistics warehouses and commercial and offi ce buildings are generally
leased, except for the Group’s headquarters building in Ecully and another
offi ce building in Lyon.
NOTE 12 LEASES
Finance leases can be analysed as follows:
All leases are with unrelated lessors and refl ect normal market terms. At
31 December 2011, the aggregate carrying amount of property, plant and
equipment held for sale was €3.4 million (€3.2 million at 31 December 2010
and €3.7 million at 31 December 2009).
Net value
(in € millions) 2011 2010 2009
Land
Buildings 0.5 0.8 0.3
Machinery and equipment 3.5 2.2 2.5
Other 0.7 0.1 0.1
CARRYING AMOUNT 4.7 3.1 2.9
These amounts are included in the property, plant and equipment totals disclosed in Note 11 – Property, plant and equipment.
Groupe SEB does not have any fi nance leases related to intangible assets or investment property.
Commitments under fi nance leases and operating leases are as follows:
2011
(in € millions) Finance leases Operating leases
LEASE COMMITMENTS
Due within one year 1.8 38.5
Due in one to fi ve years 1.6 77.2
Due beyond fi ve years 11.6
TOTAL MINIMUM FUTURE LEASE PAYMENTS 3.4 127.2
Future interest costs 0.8
DISCOUNTED PRESENT VALUE OF LEASE COMMITMENTS 4.2 127.2
Lease payments recorded in expenses for the year are as follows:
(in € millions) 2011 2010 2009
Lease payments 49.7 40.1 32.8
106 GROUPE SEB Financial Report and Registration Document 2011