BMW 2004 Annual Report Download - page 94
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The above amounts include euro 1 million (2003:
euro11 million) in respect of non-consolidated sub-
sidiaries.
Several liability applies in the case of investments
in general partnerships.
The usual commercial guarantees have been
given in relation to the sale of Rover Cars and Land
Rover activities.
Other financial commitments
In addition to liabilities, provisions and contingent
The above amounts include euro 28 million
(2003: euro 29 million) in respect of non-consolidated
subsidiaries and euro 54 million (2003: euro 27 mil-
lion) for back-to-back operating leases.
liabilities, the BMW Group also has other financial
commitments, primarily under lease contracts for
land, buildings, plant and machinery, tools, office
and other facilities. The leases run for periods of
one to 98 years and in some cases contain extension
and/or purchase options. Lease payments of euro
164 million (2003: euro 118 million) were recognised
as expense during the year.
The total of future minimum lease payments
under non-cancellable leases can be analysed by
maturity as follows:
93
Contingent Liabilities
No provisions were recognised for the following con-
tingent liabilities (stated at their nominal amount),
since an outflow of resources is not considered to
be probable:
BMW Group
Notes to the Group Financial Statements
Other Disclosures
[35]Contingent
liabilities and other
financial commitments
in euro million 31.12.2004 31.12.2003
Guarantees 54 62
Performance guarantees 88 105
Bills of exchange 4 16
146 183
in euro million 31.12.2004 31.12.2003
Nominal total of future minimum lease payments
due within one year 167 166
due between one and five years 508 448
due later than five years 613 612
1,288 1,226