BMW 2014 Annual Report Download - page 149
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149 GROUP FINANCIAL STATEMENTS
in € million 31. 12. 2014 31. 12. 2013
Guarantees 33 33
Performance guarantees 4 4
Other 84 39
Contingent liabilities 121 76
in € million 31. 12. 2014 31. 12. 2013
due within one year 299 335
due between one and five years 888 852
due later than five years 603 587
Other financial obligations 1,790 1,774
BMW Group
Notes to the Group Financial Statements
Other Disclosures
42
Contingent liabilities and other financial commitments
Contingent liabilities
No provisions were recognised for the following contingent liabilities (stated at estimated amounts), since an out-
flow of resources is not considered to be probable:
Contingent liabilities relate entirely to non-group
entities.
Other financial commitments
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 50 years
and in some cases contain extension and / or purchase
options (also including compensation for inflation). In
2014 an amount of € 350 million (2013: € 320
million)
was recognised as expense in conjunction 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 commitments include € 7 million (2013:
€ 10 million) in respect of obligations to non-consoli-
dated
subsidiaries and, as in the previous year, € 1 mil-
lion for back-to-back operating leases.
Purchase commitments amounted to € 2,247 million
(2013: € 2,661 million) for property, plant and equipment
and € 750 million (2013: € 446 million) for intangible
assets.