BMW 2001 Annual Report Download - page 72

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71
Intangible assets comprise mainly capitalised devel-
opment costs on vehicle and engine projects as well
as subsidies for tool costs, licences, purchased de-
velopment projects and software. Changes in intan-
A break-down of the different classes of property,
plant and equipment disclosed in the balance sheet
and changes during the year are shown in the
analysis of changes in Group non-current assets on
pages 48 and 49.
Property, plant and equipment also include
leased plant and machinery and other equipment
amounting to euro 480 million (2000: euro 425 mil-
lion) and relates primarily to the Oxford and Hams
Hall production plants. Due to the nature of the lease
arrangements (finance leases), economic ownership
of these assets is attributable to the Group. The
leases for plant and machinery and other equipment
gible assets during the year are shown in the analy-
sis of changes in Group non-current assets on
pages 48 and 49.
at the Oxford production plant, with a carrying
amount of euro 252 million (2000: euro 194 million)
run for periods up to 2013, and may then be extend-
ed for one year periods. A purchase option was not
agreed. The lease for plant and machinery and other
equipment at the Hams Hall production plant, with
a carrying amount of euro 194 million (2000: euro
201 million) runs until 2018 and may then be ex-
tended for one year periods. A purchase option was
not agreed.
Minimum lease payments of the relevant leases
are as follows:
[17]Intangible assets
[18]Property, plant
and equipment
BMW Group
Notes to the Group Financial Statements
Notes to the Balance Sheet
in euro million 31.12. 2001 31.12.2000
Total of future minimum lease payments
due within one year 63 38
due between one and five years 312 228
due later than five years 724 607
1,099 873
Interest portion of the future minimum lease payments
due within one year 12 4
due between one and five years 70 25
due later than five years 268 220
350 249
Present value of future minimum lease payments
due within one year 51 34
due between one and five years 242 203
due later than five years 456 387
749 624