ANNUAL REPORT 2011 - Kuehne + Nagel

All loans and bank overdrafts are held in the respective Group
companies’ own functional currencies, which mainly is in EUR
60.6 per cent (2010: 67.6 per cent), GBP 28.6 per cent (2010:
None) and USD 7 per cent (2010: 25.4 per cent) on terms of
the prevailing market conditions. The majority of bank overdraft
facilities are repayable upon notice or within one year of
39 Finance lease obligations
Consolidated Financial Statements 2011 _ _ _ _ _ _ Other Notes
2011 2010
CHF million Payments Interest Principal Payments Interest Principal
Less than 1 year 25 2 23 35 2 33
Between 1–5 years 34 3 31 43 3 40
After 5 years 12 – 12 19 1 18
Total 71 5 66 97 6 91
40 Trade payables/accrued trade expenses/deferred income
the contractual term. The applicable interest rates are at prime
interest rates of the respective country.
The non-current portion of finance lease liabilities amounts to
CHF 43 million (2010: CHF 58 million) and is presented separately
on the face of the balance sheet.
CHF million Dec. 31, 2011 Dec. 31, 2010
Trade payables 1,285 1,201
Accrued trade expenses 736 745
Deferred income 145 132
Total 2,166 2,078
The majority of all trade payables is in the respective Group companies’
own functional currencies, which is in EUR 51.8 per cent
(2010: 52.3 per cent), USD 14.3 per cent (2010: 17.0 per cent)
and GBP 8.7 per cent (2010: 8.3 per cent).
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