Barclays 2009 Annual Report Download - page 252

250 Barclays PLC Annual Report 2009 www.barclays.com/annualreport09
Notes to the accounts
For the year ended 31st December 2009
continued
37 Leasing continued
b) As Lessee
Finance lease commitments
The Group leases items of property, plant and equipment on terms that meet the definition of finance leases. Finance lease commitments are included
within other liabilities (see Note 25).
Obligations under finance leases were as follows:
2009 2008
Total future Total future
minimum minimum
payments payments
£m £m
Not more than one year 16 35
Over one year but not more than two years 713
Over two years but not more than three years 30 14
Over three years but not more than four years 18 17
Over four years but not more than five years 17 14
Over five years 34 3
Net obligations under finance leases 122 96
The carrying amount of assets held under finance leases at the balance sheet date was:
2009 2008
£m £m
Cost 127 87
Accumulated depreciation (84) (67)
Net book value 43 20
Operating lease commitments
The Group leases various offices, branches and other premises under non-cancellable operating lease arrangements. The leases have various terms,
escalation and renewal rights. There are no contingent rents payable. The Group also leases equipment under non-cancellable lease arrangements.
Where the Group is the lessee the future minimum lease payment under non-cancellable operating leases are as follows:
2009 2008
Property Equipment Property Equipment
£m £m £m £m
Not more than one year 459 9 275 5
Over one year but not more than two years 424 6 354 1
Over two years but not more than three years 378 – 334 1
Over three years but not more than four years 334 – 315 –
Over four years but not more than five years 341 – 465 5
Over five years 2,933 3 2,744 1
Total 4,869 18 4,487 13
The total of future minimum sublease payments to be received under non-cancellable subleases at the balance sheet date is £147m (2008: £158m).