DHL 2002 Annual Report Download - page 140

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55
Other financial obligations
In addition to provisions, liabilities and contingent liabilities,
there are other financial obligations amounting to €5,607
million (previous year: €3,827 million) from operating leases
as defined by IAS 17.
The Group’s future payment obligations under leases
are attributable to the following asset classes:
The increase in future minimum lease payments is
due primarily to the first-time full consolidation of DHL
International. In addition, the leaseback of real estate trans-
ferred to the Pension Trust established in 2002 also had an
effect (see note 37).
The maturity structure of future payment obligations
from operating leases is presented below:
48 The present value of discounted minimum lease pay-
ments is €4,040 million (previous year: €2,738 million).
Overall, rental and lease payments of €1,294 million (previous
year: €856 million) arose in 2002, of which €723 million
(previous year: €509 million) relates to non-cancelable leases.
This increase is also due primarily to the first-time consoli-
dation of DHL International and to the leaseback of sold
real estate.
Future lease obligations from non-cancelable leases
relate primarily to the following companies:
The purchase obligation for investments in noncurrent
assets at December 31, 2002 amounted to a total of €1,760
million.
Financial Statements
Notes
in €m 2001 2002
Land, land rights and buildings 3,483 4,701
Technical equipment and machinery 146 131
Operating and office equipment 198 408
Aircraft 0 367
3,827 5,607
Lease obligations
in €m 2001 2002
Minimum lease payments
Year 1 after reporting date 592 859
Year 2 after reporting date 509 739
Year 3 after reporting date 396 610
Year 4 after reporting date 323 488
Year 5 after reporting date 283 450
Year 6 after reporting date and thereafter 1,724 2,461
3,827 5,607
Maturities
Future lease obligations
in €m 2001 2002
Deutsche Post AG 2,163 2,770
DHL International 0 1,246
Danzas group 953 939
Deutsche Postbank group 179 254
Other Group companies 532 398
3,827 5,607