Reebok 2015 Annual Report Download - page 231
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4
CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Statement of Financial Position
Future minimum lease payments for minimum lease durations on a nominal basis are as follows:
MINIMUM LEASE PAYMENTS FOR OPERATING LEASES
€ in millions Dec. 31, 2015 Dec. 31, 2014
Within 1 year 516 476
Between 1 and 5 years 1,143 959
After 5 years 540 277
Total 2,199 1,711
Finance leases
The Group also leases various premises for administration and warehousing which are classified as finance
leases.
The net carrying amount of these assets of € 8 million and € 10 million was included in property, plant
and equipment as at December 31, 2015 and 2014, respectively. For the year ending December 31, 2015,
interest expenses (continuing operations) were € 0 million (2014: € 0 million) and depreciation expenses
(continuing operations) were € 4 million (2014: € 4 million).
Minimum lease payments for finance leases in 2015 include land leases with a remaining lease term
of 97 years. The minimum lease payments under these contracts amount to € 12 million. The estimated
amount representing interest is € 9 million and the present value amounts to € 2 million.
The net present values and the minimum lease payments under these contracts over their remaining
terms up to 2018 and the land leases with a remaining lease term of 97 years are as follows:
MINIMUM LEASE PAYMENTS FOR FINANCE LEASES
€ in millions Dec. 31, 2015 Dec. 31, 2014
Lease payments falling due:
Within 1 year 3 3
Between 1 and 5 years 3 5
After 5 years 12 11
Total minimum lease payments 18 19
Less: estimated amount representing interest (9) (9)
Present value of minimum lease payments 910
Thereof falling due:
Within 1 year 3 3
Between 1 and 5 years 3 4
After 5 years 3 3
Service arrangements
The Group has outsourced certain logistics and information technology functions, for which it has entered
into long-term contracts. Financial commitments under these contracts mature as follows:
FINANCIALCOMMITMENTS FOR SERVICE ARRANGEMENTS
€ in millions Dec. 31, 2015 Dec. 31, 2014
Within 1 year 97 75
Between 1 and 5 years 253 101
After 5 years 0 18
Total 349 193