APC 2007 Annual Report Download - page 122
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% interest Share in net assets Share in net profit
at Dec. 31 at Dec. 31 at Dec. 31
2007 2006 2007 2006 2007 2006
Delta Dore Finance 20.0 % 20.0 % 14.1 13.2 0.9 1.3
Delixi Electric 50.0 % - 151.8 - 2.0 -
Other NA NA 6.0 (3.0) 1.4 0.6
Total -- 171.9 10.2 4.3 1.9
6.2 - Finance leases
Property, plant and equipment include the following assets
held under finance leases:
Dec. 31, 2007 Dec. 31, 2006
Land 2.8 2.8
Buildings 68.9 78.9
Machinery
and equipment 31.3 29.9
Other tangible assets 1.3 1.4
Accumulated
depreciation (73.5) (79.9)
Assets under
finance lease, net 30.8 33.1
Future minimum lease payments under finance leases as
of December 31, 2007 are as follows:
Minimum Discounted
payments minimum
payments
Less than one year 3.2 3.2
Between one year
and five years 8.3 7.5
Five years and more 8.2 5.8
Total commitments 19.6 16.5
Discounting effect (3.2) -
Discounted
minimum payments 16.5 -
Future minimum lease payments under non-cancelable
operating leases break down as follows at December 31,
2007:
Minimum Discounted
payments minimum
payments
Less than one year 84.8 84.8
Between one
and five years 239.4 216.8
Five years and more 137.8 103.5
Total rental
commitments 462.0 405.1
Discounting effect (56.9) -
Discounted
minimum payments 405.1 -
6.3 - Operating leases
Rental expenses for operating leases in 2007 and 2006
were as follows:
2007 2006
Minimum rentals 98.5 96.0
Contingent rentals 1.1 4.6
Sub-lease rentals (1.2) (1.9)
Total rental expense 98.4 98.7
Note 7 - Investments in associates
Investments in associates can be analyzed as follows:
The acquisition of a 50% interest in Delixi Electric led to the recognition of goodwill provisionally estimated at 121 million.
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