BMW 2012 Annual Report Download - page 129

129 GROUP FINANCIAL STATEMENTS
in € million 31. 12. 2012 31. 12. 2011
Guarantees 6 16
Performance guarantees – 23
Other 60 99
Contingent liabilities 66 138
in € million 31. 12. 2012 31. 12. 2011
Nominal total of future minimum lease payments
due within one year 320 297
due between one and five years 805 704
due later than five years 585 663
Other financial obligations 1,710 1,664
BMW Group
Notes to the Group Financial Statements
Other Disclosures
40
Contingent liabilities and other financial commitments
Contingent liabilities
No provisions were recognised for the following contingent liabilities (stated at their nominal amount), since an
outflow of resources is not considered to be probable:
Contingent liabilities relate entirely to non-group entities.
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 com-
mitments, primarily under lease contracts for land,
buildings, plant and machinery, tools, office and other
facilities. The leases run for periods of one to 46 years
and in some cases contain extension and / or purchase
options. In 2012 an amount of € 296 million (2011:
€ 208
million) was recognised as an expense in conjunc-
tion with operating leases. All of these amounts relate
to minimum lease payments.
The total of future minimum lease payments under non-
cancellable and other operating leases can be analysed
by maturity as follows:
Other financial obligations include € 19 million (2011:
€ 10 million) in respect of non-consolidated subsidiaries
and € 2 million (2011: € 1 million) for back-to-back
operating leases.
Purchase commitments amounted to € 3,010 million
(2011: € 1,654 million) for property, plant and equip-
ment and to € 440 million (2011: € 186 million) for
intangible assets.