Connect - Schneider Electric

5 CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
13.2 – Finance leases
Tangible assets primarily comprise the following fi nance leases:
178 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
Dec. 31, 2011 Dec. 31, 2010
Land 1 3
Buildings 44 74
Machinery and equipment 31 32
Other tangible assets 2 3
Accumulated depreciation (67) (83)
ASSETS UNDER FINANCE LEASE, NET 11 29
Future minimal rental commitments on fi nance lease properties at December 31, 2011 break down as follows:
Minimum
payments
Discounted
minimum
payments
Less than one year 1 1
Between one and fi ve years 4 4
Five years and more 1 1
TOTAL COMMITMENTS 6 6
Discounting effect -
Discounted minimum payments 6
13.3 – Operating leases
Rental expense breaks down as follows:
Dec. 31, 2011 Dec. 31, 2010
Minimum rentals 110 118
Conditional rentals 1 1
Sub-lease rentals (7) (4)
TOTAL RENTAL EXPENSE
Operating lease commitments break down as follows at December 31, 2011:
104 115
Minimum
payments
Discounted
minimum
payments
Less than one year 96 93
Between one and fi ve years 250 226
Five years and more 108 85
TOTAL COMMITMENTS 454 404
Discounting effect (50)
Discounted minimum payments 404