RBS 2013 Annual Report Download - page 468
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Notes on the consolidated accounts
466
28 Leases continued
Residual value exposures
The table below gives details of the unguaranteed residual values included in the carrying value of finance lease receivables (see pages 419 to 423)
and operating lease assets (see pages 462 to 464).
Year in which residual value will be recovered
After 1 yea
r
After 2 years
Within 1 but within but within After 5
yea
r
2 years 5 years years Total
2013 £m £m £m £m £m
Operating leases
- transportation 197 34 217 134 582
- cars and light commercial vehicles 18 8 7 — 33
- other 24 25 32 1 82
Finance lease contracts 41 53 198 429 721
Hire purchase agreements — 1 — 1 2
280 121 454 565 1,420
2012
Operating leases
- transportation 284 182 207 333 1,006
- cars and light commercial vehicles 317 44 49 1 411
- other 30 19 39 3 91
Finance lease contracts 38 47 148 318 551
Hire purchase agreements 1 — 1 — 2
670 292 444 655 2,061
2011
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
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.