14 Leasing and rental assets and investment property


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CHANGES IN LEASING AND RENTAL ASSETS AND INVESTMENT PROPERTY BETWEEN JANUARY 1 AND DECEMBER 31, 2008

€ million

 

Leasing and  rental assets

 

Investment  property

 

Total

Cost
Balance at Jan. 1, 2008

 

10,903

 

301

 

11,204

Foreign exchange differences

 

–78

 

1

 

–77

Changes in consolidated Group

 

1,286

 

 

1,286

Additions

 

5,335

 

13

 

5,348

Transfers

 

 

–7

 

–7

Disposals

 

4,751

 

3

 

4,754

Balance at Dec. 31, 2008

 

12,695

 

305

 

13,000

Depreciation and impairment
Balance at Jan. 1, 2008

 

2,724

 

149

 

2,873

Foreign exchange differences

 

–27

 

1

 

–26

Changes in consolidated Group

 

75

 

 

75

Additions to cumulative depreciation

 

1,724

 

7

 

1,731

Additions to cumulative impairment losses

 

92

 

 

92

Transfers

 

 

0

 

0

Disposals

 

1,782

 

2

 

1,784

Reversal of impairment losses

 

0

 

 

0

Balance at Dec. 31, 2008

 

2,806

 

155

 

2,961

Carrying amount at Dec. 31, 2008

 

9,889

 

150

 

10,039

The following payments from non-cancelable leases and rental agreements were expected to be received over the coming years:

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€ million

 

2009

 

2010 – 2013

 

from 2014

 

Total

 

 

1,193

 

1,233

 

41

 

2,467

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CHANGES IN LEASING AND RENTAL ASSETS AND INVESTMENT PROPERTY
BETWEEN JANUARY 1 AND DECEMBER 31, 2009

€ million

 

Leasing and  rental assets

 

Investment  property

 

Total

Cost
Balance at Jan. 1, 2009

 

12,695

 

305

 

13,000

Foreign exchange differences

 

62

 

3

 

64

Changes in consolidated Group

 

 

 

Additions

 

5,230

 

76

 

5,306

Transfers

 

–2

 

0

 

–2

Disposals

 

4,245

 

1

 

4,246

Balance at Dec. 31, 2009

 

13,740

 

382

 

14,122

Depreciation and impairment
Balance at Jan. 1, 2009

 

2,806

 

155

 

2,961

Foreign exchange differences

 

20

 

0

 

19

Changes in consolidated Group

 

 

 

Additions to cumulative depreciation

 

2,013

 

8

 

2,020

Additions to cumulative impairment losses

 

262

 

5

 

267

Transfers

 

0

 

0

 

0

Disposals

 

1,620

 

1

 

1,620

Reversal of impairment losses

 

–28

 

 

–28

Balance at Dec. 31, 2009

 

3,452

 

166

 

3,618

Carrying amount at Dec. 31, 2009

 

10,288

 

216

 

10,504

Leasing and rental assets include assets leased out under the terms of operating leases.

Investment property includes apartments rented out and leased dealerships, with a fair value of €475 million (previous year: €399 million). Operating expenses of €46 million (previous year: €45 million) were incurred for the maintenance of investment property in use. Expenses of €2 million (previous year: €2 million) were incurred for unused investment property.

The following payments from non-cancelable leases and rental agreements are expected to be received over the coming years:

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€ million

 

2010

 

2011 – 2014

 

from 2015

 

Total

 

 

1,234

 

1,141

 

 

2,375

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