APC 2009 Annual Report Download - page 142

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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC140
CONSOLIDATED FINANCIAL STATEMENTS
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
13.2 - Finance leases
Property, plant and equipment include the following assets held under fi nance leases:
Dec. 31, 2009 Dec. 31, 2008
Land 33
Buildings 69 69
Machinery and equipment 32 32
Other tangible assets 22
Accumulated depreciation (78) (76)
ASSETS UNDER FINANCE LEASE, NET 28 30
Future minimum lease payments under fi nance leases as of December 31, 2009 are as follows:
Minimum
payments
Discounted
minimum
payments
Less than one year 66
Between one year and fi ve years 65
Five years and more 75
TOTAL COMMITMENTS 19 16
Discounting effect (3) -
Discounted minimum payments 16 -
13.3 - Operating leases
Rental expenses for operating leases in 2009 and 2008 were as follows:
2009 2008
Minimum rentals 104 104
Contingent rentals 11
Sub-lease rentals (4) (2)
TOTAL RENTAL EXPENSE 101 103
Future minimum lease payments under non-cancellable operating leases break down as follows at December 31, 2009:
Minimum
payments
Discounted
minimum
payments
Less than one year 93 93
Between one and fi ve years 205 189
Five years and more 107 85
TOTAL RENTAL COMMITMENTS 405 367
Discounting effect (38) -
Discounted minimum payments 367 -