BMW 2010 Annual Report Download - page 119

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117 GROUP FINANCIAL STATEMENTS
in euro million 31. 12. 2010 31. 12. 2009
Guarantees 13 158
Performance guarantees 11 10
Other 66 64
Contingent liabilities 90 232
in euro million 31. 12. 2010 31. 12. 2009
Nominal total of future minimum lease payments
due within one year 205 208
due between one and five years 609 598
due later than five years 589 697
Other financial obligations 1,403 1,503
BMW Group
Notes to the Group Financial Statements
Other Disclosures
37
Contingent liabilities and other financial commitments
Contingent liabilities
No provisions were recognised for the following contingent liabilities (stated at their nominal amount), since an out-
flow of resources is not considered to be probable:
Contingent liabilities relate entirely to non-group entities.
In the previous year, guarantees included an amount of
euro 8 million in respect of non-consolidated subsidiaries.
Several liability applies in the case of investments in gen-
eral partnerships.
The usual commercial guarantees have been given in re-
lation 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 commit-
ments,
primarily under lease contracts for land, buildings,
plant and machinery, tools, office and other facilities.
The leases run for periods of one to 92 years and in some
cases contain extension and /or purchase options as
well as price escalation clauses. In 2010 an amount of
euro 200 million (2009: euro 199 mil
lion) was recog-
nised as expense in conjunction with other financial
commitments.
The total of future minimum lease payments under
non-cancellable leases can be analysed by maturity as
follows:
The above amounts include euro 4 million (2009: euro
1million) in respect of non-consolidated subsidiaries
and, as in the previous year, euro 1 million for back-to-back
operating leases.
Purchase commitments for property, plant and
equip-
ment amount to euro 1,193 million (2009: euro 1,697 mil-
lion).