Porsche 2008 Annual Report Download - page 188

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To our shareholders The Company
186
Government grants of €7 million (prior year: €0 million) were deducted from the cost of property,
plant and equipment. The grants mainly subsidize the purchase of land and capital goods.
The carrying amounts of the buildings leased under finance leases amount to €180 million (prior
year: €0 million) and the carrying amounts of the equipment leased in this way to €18 million (prior
year: €0 million). For most of them, the company has purchase options which it intends to exercise.
The underlying interest rates of the agreements vary between 2.9% and 13.6%, depending on the
date on which the agreements were concluded and on market conditions.
Future lease payments due and their present values are shown in the following table:
€ million 2010 2011-2014 from 2015 Total
Lease payments 30 99 105 234
Interest component 7 17 3 27
Carrying amount/present value 23 82 102 207