Porsche 2009 Annual Report Download - page 190

190 Financials
Government grants of €108 million (prior year: €7 million) were deducted from the cost of
property, plant and equipment of discontinued operations. The grants mainly subsidize the purchase
of land and capital goods.
As of the reporting date, there are no assets leased under finance leases within continuing
operations. The carrying amounts of the buildings leased under finance leases in discontinued
operations amounted to €180 million in the prior year and the carrying amounts of the equipment
leased in this way to €18 million. In most cases there were purchase options that were expected to
be exercised. The underlying interest rates of the agreements varied between 2.9% and 13.6% in
the prior year, depending on the date on which the agreements were concluded and on market
conditions.
Future lease payments from discontinued operations due as of 31 July 2009 and their present
values are shown in the following table:
Discontinued operations
€ million within
one year
one to
five years
more than
five years
Total
Lease payments 30 99 105 234
Interest component 7 17 3 27
Carrying amount/present value 23 82 102 207