APC 2012 Annual Report Download - page 191
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2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 189
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31, 2012
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
13.2 – Finance leases
Tangible assets primarily comprise the following fi nance leases:
Dec.31, 2012 Dec.31, 2011
Land 11
Buildings 45 44
Machinery and equipment 31 31
Other tangible assets 22
Accumulated depreciation (68) (67)
ASSETS UNDER FINANCE LEASE, NET 11 11
Future minimal rental commitments on fi nance lease properties at December31, 2012 break down as follows:
Minimum
payments Discounted
minimum payments
Less than one year 11 11
Between one and fi ve years 10 10
Five years and more 11
TOTAL COMMITMENTS 23 23
Discounting effect -
Discounted minimum payments 23
13.3 – Operating leases
Rental expense breaks down as follows:
Full year 2012 Full year 2011
Minimum rentals 121 110
Conditional rentals -1
Sub-lease rentals 4 (7)
TOTAL RENTAL EXPENSE 125 104
Operating lease commitments break down as follows at December31, 2012:
Minimum payments Discounted
minimum payments
Less than one year 136 134
Between one and fi ve years 374 350
Five years and more 214 183
TOTAL COMMITMENTS 724 667
Discounting effect (57)
Discounted minimum payments 667