APC 2004 Annual Report Download - page 78

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76
5.2 - Capital leases
Property, plant and equipment include the following assets held under capital leases:
(in millions of euros)
Dec. 31, 2004 Dec. 31, 2003
Land 2.7 2.7
Buildings 70.7 56.7
Machinery and equipment 39.6 29.2
Other tangible assets 10.6 -
Intangible assets 4.4 -
Less accumulated depreciation and amortization (82.6) (61.8)
Assets under capital lease - net 45.4 26.8
Future minimum lease payments related to capital
leases as of December 31, 2004 are as follows:
(in millions of euros)
In 2005 4.0
In 2006 2.8
In 2007 2.5
In 2008 2.6
In 2009 2.9
After 2009 3.8
Lease commitments 18.6
5.3 - Operating leases
Rental expenses for operating leases over 2004 and 2003 are as follows:
(in millions of euros)
2004 2003
Minimum rentals 84.4 74.0
Contingent rentals 1.1 1.2
Less sub-lease rentals (1.8) (2.2)
Total rental expenses 83.7 73.0
Future minimum rental payments required under
operating leases that have initial or remaining non-
cancelable lease terms in excess of one year were
as follows at December 31, 2004:
(in millions of euros)
In 2005 93.6
In 2006 72.4
In 2007 52.3
In 2008 40.1
In 2009 33.2
After 2009 72.6
Total minimum payments required 364.2