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Annual Statements

Home Annual Statements Financial Statements 2013 Notes to the consolidated financial statements Notes to the consolidated balance sheet Lease liabilities

31. Lease liabilities

(in thousands of euros)

Counterparty

Effective interest rate

Expiry date of lease

2013

2012

The Base

ABP

7.0%

2034

50,396

51,559

Cars

PON

5.3%

2017

6,749

4,148

Other

-

840

Total lease liabilities

57,145

56,547

The current portion of the lease liabilities at 31 December 2013, amounting to 3.2 million euros (31 December 2012: 2.5 million euros), is presented under current liabilities.

The The Base office building lease with ABP runs for 40 years, with options to cancel after 25 years and 30 years. If the lease is cancelled before the end of the 40-year period, Schiphol Group will be liable to pay a lump sum and penalty interest, with the buildings becoming the property of Schiphol Group. The rent is increased annually in line with the consumer price index. The leasehold of the land on which the Triport buildings stand has been granted to ABP for the duration of the lease.

The remaining terms of the lease liabilities at 31 December 2013 were as follows:

Total

<= 1 year

> 1 year

> 1 year en

> 5 years

(in thousands of euros)

<= 5 years

The Base

50,396

1,243

49,153

5,892

43,261

Cars

6,749

1,938

4,811

4,811

-

Carrying amount of finance lease liabilities

57,145

3,181

53,964

10,703

43,261

The movements in the lease liabilities during the year were as follows:

(in thousands of euros)

2013

2012

Carrying amount as at 1 January

56,547

58,511

Movements in the year

Accrued interest on lease liabilities

4,463

4,290

Lease instalments paid

- 7,356

- 8,363

Lease settlement

-

- 2,123

Finance lease-Investments

3,491

4,232

Total movements in the year

598

- 1,964

Carrying amount as at 31 December

57,145

56,547