Kesko's year 2007

Year 2007
Note 30
Finance lease liabilities
Divisions The Group
Financial
statements Further information 113
€ million 2007 2006
The maturities of finance lease liabilities are as follows:
Not later than 1 year 27.8 28.2
Later than 1 year and not later than 5 years 103.4 111.7
Later than 5 years 86.1 93.9
Total minimum lease payments 217.3 233.8
Present values of minimum lease payments:
Not later than 1 year 18.8 19.0
Later than 1 year and not later than 5 years 78.8 76.7
Later than 5 years 68.5 72.3
Finance lease liabilities 166.1 168.0
Accumulating financial expenses 51.2 65.8
Contingent rents recognised for the period 1.5 1.5
Expected sublease rentals 33.2 33.2
Finance lease liabilities relate to real estate, machinery and equipment leases. The Kesko Group has leased large retail outlets under long-term leases.
Most of the lease payments are tied to interest rates and most leases include a call option.
Note 31
Provisions
€ million Onerous leases Warranty provisions Other provisions Total
Provisions at 1 Jan. 2007 9.1 11.7 11.1 31.9
Exchange rate effects 0.0
Additional provisions 2.9 1.7 14.3 18.9
Unused amounts reversed -0.9 -0.2 -7.5 -8.6
Expensed in income statement 11.1 13.2 17.9 42.2
Used amounts -2.0 -0.3 -1.4 -3.7
Provisions at 31 Dec. 2007 9.1 12.9 16.5 38.5
Analysis of total provisions
Non-current 5.2 9.1 1.2 15.5
Current 3.9 3.8 15.3 23.0
Provisions for onerous leases mainly relate to lease liabilities of premises vacated from the Group operations, and to net losses on rent of subleased
premises. Warranty provisions have been recorded for vehicles and machines sold by the Group companies. The provision amount is based on experience
from realised warranty obligations in previous years. Other provisions mainly relate to pensions and residual taxes.