APC 2015 Annual Report Download - page 214
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2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC212
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2015
5NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
13.2 – Finance leases
Property, plant and equipment primarily include the following fi nance leases:
Dec.31,2015 Dec.31,2014
Land -1
Buildings 10 29
Machinery and equipment 31 32
Other property, plant and equipment 22
Accumulated depreciation (41) (40)
ASSETS UNDER FINANCE LEASE 224
Future minimal rental commitments on fi nance lease properties at December31, 2015 break down as follows:
Minimum payments
Discounted
minimum
payments
Less than one year 11
Between one and fi ve years 12
TOTAL COMMITMENTS 23
Discounting effet 1
Discounted minimum payments 3
13.3 – Operating leases
Rental expense breaks down as follows:
Full year 2015 Full year 2014
Minimum rentals 118 163
Sub-lease rentals 67
TOTAL RENTAL EXPENSE 124 170
Operating lease commitments break down as follows at December31, 2015:
Minimum
payments
Discounted
minimum
payments
Less than one year 108 106
Between one and fi ve years 281 272
Five years and more 229 211
TOTAL COMMITMENTS 618 589
Discounting effect (29)
Discounted minimum payments 589