Nokia 2010 Annual Report Download - page 256

29. Commitments and contingencies (Continued)
primarily available to fund capital expenditure relating to purchases of network infrastructure
equipment and services.
Venture fund commitments of EUR 238 million in 2010 (EUR 293 million in 2009) are financing
commitments to a number of funds making technology related investments. As a limited partner in
these funds, Nokia is committed to capital contributions and also entitled to cash distributions
according to respective partnership agreements.
The Group is party to routine litigation incidental to the normal conduct of business, including, but
not limited to, several claims, suits and actions both initiated by third parties and initiated by Nokia
relating to infringements of patents, violations of licensing arrangements and other intellectual
property related matters, as well as actions with respect to products, contracts and securities. Based
on the information currently available, in the opinion of the management outcome of and liabilities
in excess of what has been provided for related to these or other proceedings, in the aggregate, are
not likely to be material to the financial condition or result of operations.
At December 31, 2010, the Group had purchase commitments of EUR 2 606 million (EUR 2 765 million
in 2009) relating to inventory purchase obligations, service agreements and outsourcing
arrangements, primarily for purchases in 2011.
30. Leasing contracts
The Group leases office, manufacturing and warehouse space under various noncancellable operating
leases. Certain contracts contain renewal options for various periods of time
The future costs for noncancellable leasing contracts are as follows:
Operating
leases
Leasing payments, EURm
2011 .................................................................... 285
2012 .................................................................... 215
2013 .................................................................... 160
2014 .................................................................... 122
2015 .................................................................... 82
Thereafter ................................................................ 205
Total .................................................................... 1 069
Rental expense amounted to EUR 429 million in 2010 (EUR 436 million in 2009 and EUR 418 million in
2008).
31. Related party transactions
At December 31, 2010, the Group had borrowings amounting to EUR 69 million (EUR 69 million in
2009 and EUR 69 million in 2008) from Nokia Unterstu
¨tzungskasse GmbH, the Group’s German
pension fund, which is a separate legal entity. The loan bears interest at 6% annum and its duration
is pending until further notice by the loan counterparts who have the right to terminate the loan
with a 90 day notice period.
There were no loans made to the members of the Group Executive Board and Board of Directors at
December 31, 2010, 2009 or 2008, respectively.
F68
Notes to the Consolidated Financial Statements (Continued)