Porsche 2009 Annual Report Download - page 219

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As of the prior-year reporting date, bonds, commercial papers and notes, liabilities to
banks and other financial obligations of discontinued operations included asset-backed securities
transactions of €13,561 million effected via special purpose entities to refinance the financial ser-
vices business. Liabilities of the discontinued operations to refinance the financial services business
in the form of forfaiture and sale-and-leaseback programs were also presented within other financial
liabilities. Interest rates were at inter-bank level. The average duration of the maturities ranged from
one to four years in the prior year. Measurement was at amortized cost.
The present values of the future minimum lease payments from sale-and-leaseback transac-
tions entered into to refinance the financial services business are attributable exclusively to discon-
tinued operations and broke down as follows in the prior year:
In the prior year, other financial liabilities of discontinued operations included liabilities from
put options of non-controlling interests of €146 million.
Receivables from customer financing and the leasing business of €16,439 million were u-
sed as collateral for the asset-back-securities transactions of discontinued operations as of the
prior-year reporting date. In addition, the discontinued operations had provided collateral of €598
million for financial liabilities as of the prior-year reporting date. These were generally deposits,
fixed-term deposits, assignments and other items.
Discontinued
operations
€ million 31/7/2009
Due within one year 66
Due in one to five years 47
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