RBS 2011 Annual Report Download - page 397

RBS Group 2011 395
Residual value exposures
The table below gives details of the unguaranteed residual values included in the carrying value of finance lease receivables (see pages 340 to 343)
and operating lease assets (see pages 373 and 374).
Year in which residual value will be recovered
Within 1
year
After 1 year
but within
2 years
After 2 years
but within
5 years
After 5
years Total
2011 £m £m £m £m £m
Operating leases
-transportation 244 314 187 390 1,135
- cars and light commercial vehicles 458 75 105 2 640
- other 23 21 33 8 85
Finance lease contracts 26 48 147 270 491
Hire purchase agreements — — 1 — 1
751 458 473 670 2,352
2010
Operating leases
- transportation 357 457 1,834 2,097 4,745
- cars and light commercial vehicles 503 109 100 9 721
- other 30 20 39 13 102
Finance lease contracts 20 41 131 263 455
Hire purchase agreements —3 70 — 73
910 630 2,174 2,382 6,096
2009
Operating leases
- transportation 164 327 1,607 2,255 4,353
- cars and light commercial vehicles 624 134 113 7 878
- other 31 32 40 7 110
Finance lease contracts 23 35 96 313 467
Hire purchase agreements 720 61 21 109
849 548 1,917 2,603 5,917
The Group provides asset finance to its customers through acting as a lessor. It purchases plant, equipment and intellectual property, renting them to
customers under lease arrangements that, depending on their terms, qualify as either operating or finance leases.