In addition to provisions, liabilities and contingent liabilities, there are other financial obligations amounting to €6,778 million (previous year: €5,028 million) from non-cancelable operating leases as defined by IAS 17. €2,049 million of this relates to the acquisition of Exel.
The Group’s future non-cancelable payment obligations under leases are attributable to the following asset classes:
|Land and buildings||4,192||5,975|
|Technical equipment and machinery||121||209|
|Other equipment, operating and office equipment||449||402|
The acquisition of Exel led to an increase in non-cancelable payment obligations under leases for land and buildings of €1,918 million. Future payment obligations for technical equipment and machinery rose by €131 million due to the acquisition of Exel.
The maturity structure of future non-cancelable payment obligations from operating leases is presented below:
The present value of discounted minimum lease payments is €5,368 million (previous year: €3,845 million), based on a discount factor of 4.55% (previous year: 5.0%). Overall, rental and lease payments of €1,615 million (previous year: €1,516 million) arose in 2005, of which €911 million (previous year: €918 million) relates to non-cancelable leases.
Future lease obligations from non-cancelable leases relate primarily to the following companies:
|Future lease obligations|
|Deutsche Post AG/Deutsche Post Immobilien GmbH||2,230||1,976|
|Express and Logistics companies||1,959||2,080|
|Other Group companies (including Deutsche Postbank group)||839||673|
The purchase obligation for investments in noncurrent assets amounted to €932 million.