NOTE 29
€ million | 2009 | 2008 |
The maturities of finance lease payments are as follows: | ||
No later than 1 year | 20.9 | 27.2 |
Later than 1 year and no later than 5 years | 64.5 | 64.0 |
Later than 5 years | 10.9 | 14.1 |
Total minimum lease payments | 96.3 | 105.3 |
Present value of minimum lease payments: | ||
No later than 1 year | 17.3 | 22.6 |
Later than 1 year and no later than 5 years | 57.9 | 56.6 |
Later than 5 years | 10.5 | 13.4 |
Total finance lease liabilities | 85.7 | 92.7 |
Accumulating financial expensess | 10.6 | 12.6 |
Contingent rents for the financial year | 0.1 | 1.5 |
Expected sublease rentals | 61.5 | 64.4 |
The finance lease receivables mainly consist of store fixtures leased by Kesko Food Ltd from finance companies and subleased to chain companies. In addition, the finance leases include real estate leases with lease payments tied to interest rate.