14 Lease assets and investment property

  (XLS:) Download

CHANGES IN LEASE ASSETS AND INVESTMENT PROPERTY
IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2014

€ million

 

Lease assets

 

Investment property

 

Total

 

 

 

 

 

 

 

Cost
Balance at Jan. 1, 2014

 

29,878

 

633

 

30,511

Foreign exchange differences

 

2,052

 

31

 

2,084

Changes in consolidated Group

 

547

 

 

547

Additions

 

13,998

 

100

 

14,098

Transfers

 

8

 

−18

 

−10

Disposals

 

9,703

 

10

 

9,713

Balance at Dec. 31, 2014

 

36,780

 

736

 

37,516

Depreciation and impairment
Balance at Jan. 1, 2014

 

7,619

 

205

 

7,824

Foreign exchange differences

 

466

 

8

 

474

Changes in consolidated Group

 

125

 

 

125

Additions to cumulative depreciation

 

4,907

 

15

 

4,922

Additions to cumulative impairment losses

 

121

 

29

 

150

Transfers

 

1

 

−4

 

−3

Disposals

 

4,039

 

3

 

4,042

Reversal of impairment losses

 

3

 

 

3

Balance at Dec. 31, 2014

 

9,195

 

251

 

9,446

Carrying amount at Dec. 31, 2014

 

27,585

 

485

 

28,070

The following payments from noncancelable leases and rental agreements were expected to be received over the coming years:

  (XLS:) Download

 

 

 

 

 

 

 

 

 

€ million

 

2016

 

2017 – 2019

 

from 2020

 

Total

 

 

 

 

 

 

 

 

 

Lease payments

 

3,253

 

3,528

 

1

 

6,782

  (XLS:) Download

CHANGES IN LEASE ASSETS AND INVESTMENT PROPERTY
IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2015

€ million

 

Lease assets

 

Investment property

 

Total

 

 

 

 

 

 

 

Cost
Balance at Jan. 1, 2015

 

36,780

 

736

 

37,516

Foreign exchange differences

 

1,750

 

23

 

1,773

Changes in consolidated Group

 

10

 

1

 

11

Additions

 

18,265

 

15

 

18,280

Transfers

 

0

 

2

 

2

Disposals

 

11,687

 

16

 

11,702

Balance at Dec. 31, 2015

 

45,118

 

761

 

45,879

Depreciation and impairment
Balance at Jan. 1, 2015

 

9,195

 

251

 

9,446

Foreign exchange differences

 

411

 

4

 

415

Changes in consolidated Group

 

3

 

1

 

4

Additions to cumulative depreciation

 

6,035

 

15

 

6,050

Additions to cumulative impairment losses

 

619

 

 

619

Transfers

 

0

 

−1

 

−1

Disposals

 

4,315

 

5

 

4,321

Reversal of impairment losses

 

3

 

8

 

10

Balance at Dec. 31, 2015

 

11,945

 

257

 

12,202

Carrying amount at Dec. 31, 2015

 

33,173

 

504

 

33,677

Lease assets include assets leased out under the terms of operating leases and assets covered by long-term buy-back agreements.

Investment property includes apartments rented out and leased dealerships with a fair value of €927 million (previous year: €890 million). Fair value is estimated using an investment method based on internal calculations (Level 3 of the fair value hierarchy). Operating expenses of €50 million (previous year: €53 million) were incurred for the maintenance of investment property in use. Expenses of €1 million (previous year: €3 million) were incurred for unused investment property.

The following payments from noncancelable leases and rental agreements are expected to be received over the coming years:

  (XLS:) Download

 

 

 

 

 

 

 

 

 

€ million

 

2016

 

2017 – 2020

 

ab 2021

 

Total

 

 

 

 

 

 

 

 

 

Lease payments

 

3,722

 

4,398

 

42

 

8,162