14 Leasing and rental assets and investment property
 Download |
|
CHANGES IN LEASING AND RENTAL ASSETS AND INVESTMENT PROPERTY IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2012 | ||||||
|---|---|---|---|---|---|---|
|
€ million |
Leasing and rental assets |
Investment property |
Total | |||
|
|
|
|
|
|||
|
Cost |
21,359 |
525 |
21,884 |
|||
|
Foreign exchange differences |
–215 |
–5 |
–220 |
|||
|
Changes in consolidated Group |
1,470 |
2 |
1,472 |
|||
|
Additions |
9,816 |
34 |
9,851 |
|||
|
Transfers |
–1 |
89 |
89 |
|||
|
Disposals |
6,976 |
19 |
6,996 |
|||
|
Balance at Dec. 31, 2012 |
25,453 |
626 |
26,079 |
|||
|
Depreciation and impairment |
4,733 |
185 |
4,918 |
|||
|
Foreign exchange differences |
–69 |
–1 |
–70 |
|||
|
Changes in consolidated Group |
8 |
2 |
10 |
|||
|
Additions to cumulative depreciation |
3,498 |
14 |
3,512 |
|||
|
Additions to cumulative impairment losses |
99 |
0 |
99 |
|||
|
Transfers |
–3 |
6 |
3 |
|||
|
Disposals |
2,845 |
12 |
2,857 |
|||
|
Reversal of impairment losses |
2 |
1 |
3 |
|||
|
Balance at Dec. 31, 2012 |
5,419 |
194 |
5,612 |
|||
|
Carrying amount at Dec. 31, 2012 |
20,034 |
433 |
20,467 |
|||
The following payments from noncancelable leases and rental agreements were expected to be received over the coming years:
| Download |
|
|
|
|
|
|
||||
|
€ million |
2013 |
2014–2017 |
from 2018 |
Total | ||||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
||||
|
Lease payments |
2,688 |
2,995 |
39 |
5,723 |
| Download |
|
CHANGES IN LEASING AND RENTAL ASSETS AND INVESTMENT PROPERTY IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2013 | ||||||
|---|---|---|---|---|---|---|
|
€ million |
Leasing and rental assets |
Investment property |
Total | |||
|
|
|
|
|
|||
|
Cost |
25,453 |
626 |
26,079 |
|||
|
Foreign exchange differences |
–908 |
–12 |
–920 |
|||
|
Changes in consolidated Group |
3 |
– |
3 |
|||
|
Additions |
11,890 |
32 |
11,923 |
|||
|
Transfers |
–1 |
32 |
31 |
|||
|
Disposals |
6,558 |
46 |
6,604 |
|||
|
Balance at Dec. 31, 2013 |
29,878 |
633 |
30,511 |
|||
|
Depreciation and impairment |
5,419 |
194 |
5,612 |
|||
|
Foreign exchange differences |
–212 |
–2 |
–215 |
|||
|
Changes in consolidated Group |
0 |
– |
0 |
|||
|
Additions to cumulative depreciation |
4,087 |
14 |
4,101 |
|||
|
Additions to cumulative impairment losses |
107 |
1 |
108 |
|||
|
Transfers |
0 |
12 |
12 |
|||
|
Disposals |
1,766 |
13 |
1,779 |
|||
|
Reversal of impairment losses |
16 |
– |
16 |
|||
|
Balance at Dec. 31, 2013 |
7,619 |
205 |
7,824 |
|||
|
Carrying amount at Dec. 31, 2013 |
22,259 |
427 |
22,687 |
|||
Leasing and rental assets include assets leased out under the terms of operating leases and assets covered by long-term buy-back agreements.
Investment property includes apartments rented out and leased dealerships with a fair value of €732 million (previous year: €758 million). Fair value is estimated using an investment method based on internal calculations (Level 3 of the fair value hierarchy). Operating expenses of €47 million (previous year: €50 million) were incurred for the maintenance of investment property in use. Expenses of €0 million (previous year: €1 million) were incurred for unused investment property.
The following payments from noncancelable leases and rental agreements are expected to be received over the coming years:
| Download |
|
|
|
|
|
|
||||
|
€ million |
2014 |
2015 – 2018 |
after 2019 |
Total | ||||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
||||
|
Lease payments |
2,635 |
2,971 |
23 |
5,628 |