Kesko's Annual Report 2009
Kesko's Annual Report 2009
Kesko's Annual Report 2009
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118 Kesko financial statements <strong>2009</strong><br />
NOTE 31<br />
Trade payables and other current<br />
non-interest-bearing liabilities<br />
€ million <strong>2009</strong> 2008<br />
Trade payables 703.5 755.6<br />
Other current non-interest-bearing<br />
liabilities 179.9 181.6<br />
Tax liabilities 37.0 2.9<br />
Accrued liabilities<br />
Total current non-interest-bearing<br />
217.1 245.5<br />
liabilities 1,137.5 1,185.7<br />
The accrued liabilities are mainly due to the timing of purchases<br />
and staff cost.<br />
NOTE 32<br />
Jointly controlled assets<br />
Jointly controlled assets<br />
(mutual real estate companies)<br />
These figures represent the Group's share of jointly controlled<br />
assets and liabilities and income and profit included in the<br />
consolidated statement of financial position and the income<br />
statement.<br />
€ million <strong>2009</strong> 2008<br />
Non-current assets 41.6 76.2<br />
Current assets 0.3 1.5<br />
41.9 77.8<br />
Non-current liabilities 7.0 9.8<br />
Current liabilities 19.3 32.8<br />
26.3 42.6<br />
Net assets 15.6 35.2<br />
Income 4.7 6.0<br />
Expenses 3.8 4.7<br />
Profit 0.9 1.3<br />
NOTE 33<br />
Contingent liabilities<br />
Commitments<br />
€ million<br />
Collateral given for own commitments<br />
<strong>2009</strong> 2008<br />
Pledges 91 40<br />
Mortgages 21 17<br />
Guarantees<br />
Other commitments and contingent<br />
23 18<br />
liabilities 77 50<br />
Collateral given for shareholders<br />
Guarantees 0 0<br />
Collateral given for others<br />
Other commitments and contingent<br />
liabilities 7 8<br />
Guarantees 0 0<br />
The guarantees given do not include guarantees related to items<br />
presented within liabilities in the consolidated statement of<br />
financial position or as a lease liability in note 34.<br />
NOTE 34<br />
Operating leases<br />
Group as the lessee<br />
Minimum lease payments under non-cancellable operating lease<br />
agreements:<br />
€ million <strong>2009</strong> 2008<br />
No later than 1 year 352.6 322.5<br />
Later than 1 year and no later than 5 years 1,071.5 955.0<br />
Later than 5 years 935.4 823.7<br />
Total 2,359.5 2,101.1<br />
Expected future minimum lease payments<br />
under non-cancellable sublease agreements 57.8 61.5<br />
Lease and sublease payments recognised<br />
for the financial year:<br />
Minimum lease payments 335.9 305.3<br />
Contingent rents 0.5 0.7<br />
Sublease income 26.3 21.8<br />
The <strong>2009</strong> income statement includes net rent and maintenance<br />
rent payments under operating leases, and other rents in a total<br />
amount of €383.1 million (€349.9 million). The maintenance<br />
rent payments are not included in the minimum lease payments.<br />
Kesko leases retail and logistics premises for its operating<br />
activities. Most of the leases are index-linked and in conformity<br />
with local market practice.