Porsche 2005 Annual Report Download - page 137

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135
In its financial services division, the Porsche Group acts as lessor, primarily leasing its own products.
The remaining terms of the minimum lease payments from non-cancellable operating leases of
T€ 406,706 (previous year: T€ 345,167) are as follows:
The development of leased assets in the fiscal year is shown in the statement of changes in fixed
assets. The leases also contain renewal and purchase options as well as escalation clauses.
Of the total inventories reported as of the balance sheet date of T€ 594,080 (previous year:
T€ 571,772), T€ 193,348 (previous year: T€ 191,744) is recognized at net realizable value.
Reversals of impairment losses of T€ 1,678 (previous year: impairment loss of T€ 5,236) were recorded
in income in the fiscal year. The reversals were necessary due to new information about salability.
July 31, 2006 July 31, 2005
T€ T€
Due within one year 179,354 118,191
Due in one to five years 227,352 226,976
406,706 345,167
(15) Inventories
The inventories disclosed break down as follows:
July 31, 2006 July 31, 2005
T€ T€
Materials and supplies 73,251 85,252
Work in progress 47,039 49,152
Finished goods and merchandise 473,790 437,359
Advance payments on inventories – 9
594,080 571,772