52 Other financial obligations

In addition to provisions, liabilities and contingent liabilities, there are other financial obligations amounting to €7,091 million (previous year: €6,193 million) from non-cancellable operating leases as defined by IAS 17.

The Group’s future non-cancellable payment obligations under leases are attributable to the following asset classes:

Lease obligations

€m 

 

2009

2010

Land and buildings

5,359

5,554

Aircraft

312

951

Transport equipment

376

439

Technical equipment and machinery

106

115

Other equipment, operating and office equipment

25

20

IT equipment

15

12

Lease obligations

6,193

7,091

The change is largely attributable to aircraft leases.

Maturity structure of minimum lease payments

€m 

 

2009

2010

Less than 1 year

1,357

1,433

More than 1 year to 2 years

1,023

1,199

More than 2 years to 3 years

800

914

More than 3 years to 4 years

600

731

More than 4 years to 5 years

478

557

More than 5 years

1,935

2,257

Maturity structure of minimum lease payments

6,193

7,091

The present value of discounted minimum lease payments is €5,311 million (previous year: €4,773 million), based on a discount factor of 6.50% (previous year: 6.00%). Overall, rental and lease payments amounted to €2,330 million (previous year: €2,370 million), of which €1,693 million (previous year: €1,820 million) relates to non-cancellable leases. €2,745 million (previous year: €2,747 million) of future lease obligations from non-cancellable leases is primarily attributable to Deutsche Post Immobilien GmbH.

The purchase obligation for investments in non-current assets amounted to €194 million (previous year: €234 million).

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