Mercedes 2009 Annual Report Download - page 228

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224
Based on market conditions and liquidity needs, Daimler may sell
certain receivables and future lease payments resulting from
equipment on operating leases to third parties. As of December
31, 2009, relating to these transactions, liabilities of €1,330
million (2008: €764 million) are accounted for as secured borrow-
ings. The respective liabilities are reported under liabilities
from ABS transactions in the amount of €1,292 million (2008:
€697 million) and under liabilities to financial institutions in
the amount of €38 million (2008: €66 million). In 2008, €1 million
was reported under loans, other financing liabilities.
Liabilities from finance leases relate primarily to leases of proper-
ty, plant and equipment which transfer substantially all risks
and rewards to the Group as lessee. Future minimum lease pay-
ments under finance leases at December 31, 2009 amounted
to €588 million (2008: €637 million). The reconciliation of future
minimum lease payments from finance lease arrangements to
the corresponding liabilities is as follows:
24. Other financial liabilities
Other financial liabilities are composed of the following items:
Derivative financial instruments. Information on derivative
financial instruments can be found in Note 29.
Financial liabilities recognized at fair value through profit or loss
relate exclusively to derivative financial instruments, which are
not used in hedge accounting.
12
62
117
191
77
204
356
637
61
160
367
588
60
142
249
451
49
98
250
397
17
62
107
186
Future
minimum lease payments
At December 31,
2008
2009
in millions of €
Interest included in future
minimum lease payments
At December 31,
2008
2009 2009
Liabilities from
finance lease arrangements
At December 31,
2008
Maturity
within one year
between one and five years
later than five years
At December 31, 2008
Total
Non-currentCurrent
At December 31, 2009
TotalNon-currentCurrent
141
273
1,338
896
4,941
7,175
7,589
67
402
1,115
–
564
1,679
2,148
208
675
2,453
896
5,505
8,854
9,737
185
572
1,550
894
5,175
7,619
8,376
46
554
1,090
–
252
1,342
1,942
231
1,126
2,640
894
5,427
8,961
10,318
in millions of €
Derivative financial instruments used in hedge accounting
Financial liabilities recognized at fair value through profit or loss
Liabilities from residual value guarantees
Liabilities from wages and salaries
Other
Miscellaneous other financial liabilities