NOTE 34
€ million | 2011 | 2010 |
No later than 1 year | 366.5 | 348.2 |
Later than 1 year and no later than 5 years | 1,086.9 | 1,071.1 |
Later than 5 years | 876.1 | 925.0 |
Total | 2,329.5 | 2,344.3 |
Expected future minimum lease payments under non-cancellable sublease agreements |
44.1 | 50.5 |
Lease and sublease payments recognised for the period: | ||
Minimum lease payments | 360.2 | 360.6 |
Contingent rents | -0.3 | 0.0 |
Sublease income | 27.4 | 26.7 |
The 2011 income statement includes capital and maintenance rentals on real estate under real estate operating leases, and other rentals in a total amount of €398.1 million (€405.0 million). Maintenance rentals are not included in minimum lease payments.
Kesko leases retail and logistics premises for its operating activities. Most of the leases are index-linked and in conformity with local market practice.
€ million | 2011 | 2010 |
No later than 1 year | 15.6 | 8.5 |
Later than 1 year and no later than 5 years | 33.7 | 17.0 |
Later than 5 years | 10.3 | 5.8 |
Total | 59.7 | 31.3 |
Aggregate contingent rents charged to the income statement | 0.9 | - |
Kesko leases premises to entrepreneurs other than K-retailers in order that the total service offer of a store site support its profit generation potential. Such premises typically include so-called store entrance stores at large retail outlets.