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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss
→ noTes : noTes To THe BalanCe sHeeT
lease payments due in subsequent periods from entities
outside MeTRo GRoUp for the rental of properties that are
legally owned by 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 31/12/2011
1 year 5 years 5 years
Future lease payments due (nominal) 4 6 8
Discount 0 –1 –5
present value
Operating leases 31/12/2011
4 5 3
Future lease payments due (nominal) 54 148 192
From the perspective of the lessor, the non-guaranteed
residual value must be added to the nominal minimum lease
payments of €18 million (previous year: €21 million) in existing
finance leases. This amounted to €3 million during the
reporting year (previous year: €3 million). The resulting gross
investment amount is €21 million (previous year: €24 million).
In addition, there is an unrealised amount from finance
leases of €6 million (previous year: €7 million).
21. investment properties
Investment properties are recognised at amortised cost. as
of 31 December 2011, this amounted to €209 million (previous
year: €238 million). The decline of €29 million essentially
results from the scheduled write-down and divestment
transactions. 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 €298 million (previous
year: €322 million). Rental income from these properties
amounts to €33 million (previous year: €24 million). The
related expenses amount to €23 million (previous year:
€13 million). expenses of €0 million (previous year: €0 million)
resulted from properties without rental income.
→ p. 212
limitations to the disposal of assets in the form of liens
and encumbrances amounted to €31 million (previous year:
€53 million). purchasing obligations for investment properties
in the amount of €0 million (previous year: €5 million)
were made.
22. Financial assets (non-current)
€ million Loans
investments
securities
Total
Acquisition and production costs
at 1/1/2010 100 23 1 124
Currency translation 1 0 0 1
additions to consolidation group 0 0 0 0
additions 78 3 115 196
Disposals –49 –13 0 –62
Transfers 0 0 0 0
at 31/12/2010 / 1/1/2011 130 13 116 259
Currency translation 0 0 0 0
additions to consolidation group 0 0 0 0
additions 5 1 0 6
Disposals –23 0 –38 –61
Transfers –35 0 –77 –112
at 31/12/2011
Depreciation/amortisation
77 14 1 92
at 1/1/2010 11 0 0 11
Currency translation 0 0 0 0
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 / 1/1/2011 11 0 0 11
additions, non-scheduled 0 1 0 1
Disposals 0 0 0 0
Write-backs 0 0 0 0
Transfers 1 0 0 1
at 31/12/2011 12 1 0 13
Book value at 1/1/2010 89 23 1 113
Book value at 31/12/2010 119 13 116 248
Book value at 31/12/2011 65 13 1 79