Reebok 2007 Annual Report Download - page 183
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179
ANNUAL REPORT 2007 --- adidas Group
22 LEASING AND SERVICE ARRANGEMENTS
OPERATING LEASES The Group leases primarily retail stores as well as offi ces, warehouses and
equipment under leases with expiration dates of between one and fi fteen years. Rent expenses,
which are partly depending on net sales aggregated to € 337 million and € 278 million for the
years ending December 31, 2007 and 2006, respectively.
Future minimum lease payments under non-cancellable operating leases are as follows:
MINIMUM LEASE PAYMENTS FOR OPERATING LEASES
€
in million
s
D
ec. 31 Dec. 31
2007 2006
Within 1 year
Between 1 and 5 years
After 5 years
Total
21
2
171
43
2
397
192
218
8
3
6 78
6
FINANCE LEASES The Group also leases various premises for administration, warehousing,
research and development as well as production, which are classifi ed as fi nance leases.
The net carrying amount of these assets of € 6 million and € 10 million was included in
property, plant and equipment as at December 31, 2007 and 2006, respectively. Interest expens-
es were € 2 million (2006: € 2 million) and depreciation expenses were € 2 million (2006: € 2
million) for the year ending December 31, 2007.
The minimum lease payments under these contracts over their remaining terms which extend
up to 2016 and their net present values are as follows:
MINIMUM LEASE PAYMENTS FOR FINANCE LEASES
€
in milli
o
n
s
Dec. 3
1
Dec. 31
2007
2006
Lease payments falling due:
Within 1 year
Between 1 and 5 years
After 5 years
T
ota
l
l
ease
p
ayment
s
Less: estimated amount representing interest
O
bli
g
ation under fi nance lease
s
Thereof falling due:
Within 1 year
Between 1 and 5 years
After 5 years
2
2
3
6
1
2
6 10
1
2
5 8
8
2
3
2
3
1
2
SERVICE ARRANGEMENTS The Group has outsourced certain logistics and information technol-
ogy functions, for which it has entered into long-term contracts. Financial commitments under
these contracts mature as follows:
FINANCIAL COMMITMENTS FOR SERVICE ARRANGEMENTS
€
in milli
o
n
s
Dec.
31
Dec. 31
2
00
7
2006
Within 1 year
Between 1 and 5 years
After 5 years
To
t
al
48
43
62
42
—
—
11
0
85
5
05