4.7 Lease liabilities | ||
Group as lessee | ||
Minimum lease payments under non-cancellable operating lease agreements: | ||
€ million | 2017 | 2016 |
Within 1 year | 390.9 | 414.8 |
Later than 1 year and no later than 5 years | 1,283.9 | 1,344.0 |
Later than 5 years | 1,238.0 | 1,269.9 |
Total | 2,912.9 | 3,028.7 |
Expected future minimum lease payments under non-cancellable sublease agreements | 60.2 | 52.9 |
Lease and sublease payments recognised for the financial year: | ||
Minimum lease payments | 407.3 | 423.0 |
Sublease income | 22.3 | 21.8 |
The 2017 income statement includes capital lease payments and maintenance rentals on real estate under operating leases, and other rentals to a total amount of €463.7 million (€458.1 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. Some of the property leases contain extension options. | ||
Group as lessor | ||
Minimum lease payments received under non-cancellable operating lease agreements: | ||
€ million | 2017 | 2016 |
Within 1 year | 11.4 | 10.3 |
Later than 1 year and no later than 5 years | 26.5 | 18.7 |
Later than 5 years | 19.0 | 28.5 |
Total | 56.8 | 57.4 |
Aggregate contingent rents charged to the income statement | 1.4 | 2.2 |
Kesko leases premises to entrepreneurs other than K-retailers in order that the total service offer of a store site supports its profit generation potential. Such premises typically include so-called store entrance stores at large retail outlets. |