BMW 2001 Annual Report Download - page 92
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91
In the year 2000, the average number of em-
ployees includes the workforce of Rover Cars and
Land Rover for the appropriate periods. The reduc-
tion of the average number of employees is partly
Contingent liabilities
No provisions were recognised for the following con-
tingent liabilities (stated at their nominal amount),
The above amounts include euro 28 million
(2000: euro 74 million) in respect of non-consolidat-
ed subsidiaries.
Several liability applies in the case of invest-
ments in general partnerships.
due to the sale of Rover Cars and Land Rover and
partly due to the transfer, in 2001, of the supplier
plant Powertrain Ltd., Bracknell.
since an outflow of resources is not considered to
be probable:
The usual commercial guarantees have been
given in relation to the sale of Rover Cars and Land
Rover.
[35]Contingent
liabilities and other
financial commitments
in euro million 2001 2000
Guarantees 61 151
Performance guarantees 66
127 151
Other financial commitments
In addition to liabilities, provisions and contingent lia-
bilities, the BMW Group also has other financial
commitments, primarily under lease contracts for
plant and machinery, tools, office and other facilities.
The leases run for periods of one to fourteen years
and in some cases contain extension and/or pur-
chase options. Lease payments of euro 145 million
(2000: euro 142 million) were recognised as an ex-
pense during the year.
The total of future minimum lease payments
under non-cancellable leases can be analysed by
maturity as follows:
in euro million 31.12. 2001 31.12.2000
Nominal total of future minimum lease payments
due within one year 171 154
due between one and five years 498 411
due later than five years 576 406
1,245 971