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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Leased property
6.5
All property leases have been reviewed to determine whether they are operating leases or finance leases to be accounted for by the method
described in Note 6.2.
Finance leases
6.5.1
The following table shows future minimum lease payments due for the non-cancelable term of finance leases at December 31, 2015 and 2014:
LEASE COMMITMENTS AT DECEMBER 31, 2015
Total
Within one year In one to five years Beyond five years
(in millions of euros)
Minimum future lease payments
645
52
198
395
Discounted present value
399
49
156
194
LEASE COMMITMENTS AT DECEMBER 31, 2014
Total Within one year In one to five years Beyond five years
(in millions of euros)
Minimum future lease payments
709
68
204
437
Discounted present value
449
64
162
222
Rental expense and rental revenue from sub-leases recorded in the income statement are as follows:
LEASE PAYMENTS AND REVENUE FROM SUB-LEASES
2015
2014
(in millions of euros)
Minimum lease payments made during the period
(54)
(73)
Contingent lease payments made during the period
(9)
(14)
Revenue from sub-leases
16
24
Minimum revenue receivable from sub-leases
15
9
184
2015 REGISTRATION DOCUMENT