Annual report 2015

NOTE 30
OPERATING AND FINANCE LEASES
       
The Group as lessor, operating leases
       
The Group leases fixtures and equipment under operating leases. Essentially, equipment is rented out to Elopak's customers who use them in their own production.
       
Specification of income on operating leases
   
2015
2014
Total variable leases recognised as income
 
120 545
110 555
Total
 
120 545
110 555
       
At the balance sheet date, the Group has contracted the following future minimum leases:
 
2015
2014
Totally due next year
 
115 552
93 034
Totally due in 2-5 years
 
290 599
282 959
Totally due after 5 years
 
48 428
31 356
Total
 
454 579
407 349
The amounts have not been discounted.
     
       
The Group as lessor, finance leases
     
       
Specification of income from finance leases
 
2015
2014
Total variable leases recognised as income
 
13 013
17 617
Total income from finance leases
 
13 013
17 617
       
Gross investment compared to the present value of outstanding minimum leases
 
2015
2014
Gross receivables on lease agreements
 
13 963
17 617
Finance income not yet earned
 
- 1 719
- 2 439
Net investment from finance leases (present value)
 
12 244
15 178
       
The Group as lessee, operating leases
     
       
Specification of expenses on operating leases
 
2015
2014
Total variable leases recognised as expenses
 
221 649
158 824
Minimum leases (including fixed leases) recognised as expense
 
124 103
183 310
Subleases recognised as cost reductions
 
- 790
- 171
Total leasing costs
 
344 963
341 963
       
Due for payment
 
2015
2014
Total costs next yeaar
 
357 735
338 231
Total costs 2-5 years
 
981 547
947 479
Total costs after 5 years
 
988 847
822 811
Total
 
2 328 128
2 108 521
The amounts have not been discounted.
     
       
Distribution of the same leasing obligation on leasing objects
 
2015
2014
Buildings and land
 
1 783 085
1 799 654
Machines and installations
 
404 968
207 495
Fixtures, vehicles and equipment
 
140 075
101 372
Total leasing obligations related to operating lease commitments
 
2 328 128
2 108 521
       
The Group as lessee, finance leasing
     
       
Specification of leasing costs of the year
 
2015
2014
Total variable leases recognised as expenses
 
2 100
6 610
Total leasing costs
 
2 100
6 610
       
Future minimum leases and corresponding present values, by due dates:
Minimum rent
Calculated interest
Present value
Total due in one year
1 077
25
1 052
Total due in year 2-5
131
8
123
Total due after 5 years
     
Total leasing obligations related to finance leasing
1 208
33
1 175
       
Net carrying value of leased assets, by asset class
 
2015
2014
Fixtures, vehicles and equipment
 
5 235
4 005
Total carrying value of leased assets
 
5 235
4 005
The fixed assets are also included in the tangible asset note (note 14).
     

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