Mercedes 2010 Annual Report Download - page 205

Consolidated Financial Statements | Notes to the Consolidated Financial Statements | 201
Maturities of the finance lease contracts are comprised as
follows:
< 1 year
1 year up to
5 years
At December 31, 2010
< 1 year
1 year up to
5 years
At December 31, 2009
> 5 years Total
> 5 years Total
In millions of euros
Contractual future lease payments 4,036 6,526 1,076 11,638 4,103 6,461 1,807 12,371
Unguaranteed residual values 740 915 165 1,820 740 975 209 1,924
Gross investment 4,776 7,4 41 1,241 13,458 4,843 7,436 2,016 14,295
Unearned finance income -530 -846 -271 -1,647 -621 -1,168 -334 -2,123
Gross carrying amount 4,246 6,595 970 11, 811 4,222 6,268 1,682 12,172
Allowances for doubtful accounts -189 -275 -19 -483 -191 -284 -6 -481
Carrying amount, net 4,057 6,320 951 11, 328 4,031 5,984 1,676 11,691
Sale of receivables. Based on market conditions and liquidity
needs, Daimler may sell portfolios of retail and wholesale receiv-
ables to third parties (i.e. special purpose entities). At the time
of the sale, Daimler determines whether the legally transferred
receivables meet the criteria for derecognition in conformity
with the appropriate provisions. If the criteria are not met, the
receivables continue to be recognized in the Group’s consoli-
dated statement of financial position.
As of December 31, 2010, the carrying amount of receivables
from financial services sold but not derecognized for accounting
purposes amounted to €1,254 million (2009: €1,006 million).
The associated risks and rewards are similar to those with respect
to receivables from financial services that have not been trans-
ferred. For information on the related total liabilities associated
with these receivables sold but not derecognized, see Note 24.
15. Marketable debt securities
As of December 31, 2010, marketable debt securities with a
carrying amount of €2,096 million are presented separately in
the consolidated statement of financial position. In 2009 and
2008, the carrying amounts of €6,342 million and €814 million
were included in other financial assets. Thereof, non-current
debt securities amounted to €766 million (2009: €1,224 million;
2008: €103 million). The prior-year presentation has been
adjusted accordingly.
The marketable debt securities are part of the Group’s liquidity
management and comprise debt instruments which are quoted
in an active market and are classified as available-for-sale.
Further information on marketable debt securities is provided in
Note 30.
16. Other financial assets
The item “other financial assets” shown in the consolidated
statement of financial position is comprised of the following
classes:
Current
At December 31, 2010
Current
At December 31, 2009
Non-current Total Non-current Total
In millions of euros
Available-for-sale financial assets –2,199 2,199 – 1,084 1,084
Thereof equity instruments recognized at fair value through profit or loss –1,485 1,485 – 385 385
Thereof equity instruments carried at cost –714 714 – 699 699
Derivative financial instruments used in hedge accounting 345 471 816 474 600 1,074
Financial assets recognized at fair value through profit or loss 565 166 731 504 714 1,218
Other receivables and financial assets 1,337 358 1,695 1,364 395 1,759
2,247 3,194 5, 4 41 2,342 2,793 5,135