BMW 2007 Annual Report Download - page 119
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117
BMW Group
Notes to the Group Financial Statements
Other Disclosures
As at the end of the previous year, all contingent liabili-
ties relate to non-group entities.
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 obligations
In addition to liabilities, provisions and contingent lia-
bilities, the BMW Group also has other financial com-
The above amounts include euro 3 million (2006: euro
4 million) in respect of non-consolidated subsidiaries
and euro 7 million (2006: euro 65 million) for back-
to-back operating leases.
mitments, primarily under lease contracts for land,
buildings, plant and machinery, tools, office and other
facilities. The leases run for periods of one to 95
years and in some cases contain extension and /or
purchase options. Lease payments of euro 61 million
(2006: euro 77 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:
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:
Contingent liabilities and other financial commitments
in euro million 31.12. 2007 31.12. 2006
Guarantees 132 224
Performance guarantees 13 23
Bills of exchange 2 5
147 252
in euro million 31.12. 2007 31.12. 2006
Nominal total of future minimum lease payments
due within one year 212 271
due between one and five years 575 583
due later than five years 683 560
1,470 1,414
[37]
In addition, the BMW Group is the lessee in the
case of operating leases for vehicles which are leased
to third parties over matching periods. The following
amounts are payable under these contracts:
in euro million 31.12. 2007 31.12. 2006
Nominal total of future minimum lease payments
due within one year 403 677
due between one and five years 296 497
due later than five years – –
699 1,174