Full Annual Report - Inchcape

Financial statements
Notes to the accounts continued
29 Commitments continued
b. Lease commitments
Operating lease commitments – Group as lessee
The Group has entered into non-cancellable operating leases for various offices, warehouses and dealerships. These leases have
varying terms, escalation clauses and renewal rights.
Future minimum lease payments under non-cancellable operating leases are as follows:
Within one year 41.8 44.8
Between one and five years 100.9 110.4
After five years 133.3 142.7
276.0 297.9
Operating lease commitments – Group as lessor
The Group has entered into non-cancellable operating leases on a number of its vehicles. These leases have varying terms, escalation
clauses and renewal rights and are not individually significant to the Group.
Future minimum lease payments receivable under non-cancellable operating leases are as follows:
Within one year 3.1 5.1
Between one and five years 6.2 9.5
After five years 6.3 8.1
15.6 22.7
Finance leases and hire purchase contracts
The Group has finance leases and hire purchase contracts for various items of property, plant and equipment. These leases have
varying terms, escalation clauses and renewal rights. Future minimum lease payments under finance leases and hire purchase
contracts, together with the present value of the net minimum lease payments (included within borrowings) are as follows:
Minimum lease payments:
– Within one year 1.3 4.1
– Between one and five years 2.1 3.7
– After five years 7.0 7.0
Total minimum lease payments 10.4 14.8
Less: future finance charges (5.7) (5.8)
Present value of finance lease liabilities 4.7 9.0
2009
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2009
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2009
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2008
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2008
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2008
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Inchcape plc ¦ Annual Report and Accounts 2009