Porsche 2006 Annual Report Download - page 157
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155
July31,2007 July31, 2006
T€ T€
Receivables from financial services 1,781,514 1,683,639
thereof non-current 1,321,635 1,248,750
thereof current 459,879 434,889
(21) Non-current and current receivables from financial services
The receivables from financial services contain receivables from customer and dealer financing
including installments due for payment of T€ 504,244 (previous year: T€ 519,803) and receivables from
finance leases before valuation allowances of T€ 1,317,088 (previous year: T€ 1,202,852).
The accumulated allowances for outstanding minimum lease payments for finance leases that are subject
to risk amount to T€ 39,818 (previous year: T€ 39,016). There was no significant concentration of risk
in the receivables from financial services. The maximum bad debt risk corresponds to the carrying
amounts of the net receivables.
Receivables from finance leases are a result of vehicle financing and break down as follows:
The leases also contain renewal and purchase options as well as escalation clauses. Price adjustments
may arise in connection with tax changes.
Receivables from financial services are generally secured by the assignment of collateral or guarantees.
The non-current receivables from financial services are mainly subject to fixed interest rates of between
2.7 percent and 15.8 percent, depending on the market.
The non-guaranteed residual values accruing to the Porsche Group amount to T€ 347,398
(previous year: T€ 334,345).
July31,2007 July31, 2006
T€ T€
Gross total investments in the lease 1,485,280 1,351,430
Due within one year 489,638 454,100
Due in one to five years 995,334 897,115
Due in more than five years 308 215
Unrealized finance income – 168,192 – 148,578
Present value of outstanding minimum lease payments 1,317,088 1,202,852
Due within one year 413,864 385,059
Due in one to five years 902,979 817,730
Due in more than five years 245 63