43 Other Financial Obligations

The future minimum lease payment obligations resulting from non-cancellable operating leases are due as follows:

in € million

 

End of contract term

 

Due within 1 year

 

Due in 1 to 5 years

 

Due after 5 years

 

Total

 

 

 

 

 

 

 

 

 

 

 

Total minimum lease payments
Dec. 31, 2016

 

 

 

 

 

 

 

 

 

 

Rents

 

2016–2022

 

6.3

 

10.4

 

 

16.7

Lease contracts

 

2016–2020

 

13.1

 

17.7

 

 

30.8

Leasehold contracts

 

2017–2109

 

9.4

 

37.1

 

373.9

 

420.4

 

 

 

 

28.8

 

65.2

 

373.9

 

467.9

in € million

 

End of contract term

 

Due within 1 year

 

Due in 1 to 5 years

 

Due after 5 years

 

Total

 

 

 

 

 

 

 

 

 

 

 

Total minimum lease payments
Dec. 31, 2015

 

 

 

 

 

 

 

 

 

 

Rents

 

2015–2020

 

6.6

 

13.9

 

 

20.5

Lease contracts

 

2015–2018

 

13.0

 

15.5

 

 

28.5

Leasehold contracts

 

2017–2109

 

9.4

 

39.0

 

384.4

 

432.8

 

 

 

 

29.0

 

68.4

 

384.4

 

481.8

Payments of € 29.7 million (2015: € 29.5 million) under rental, tenancy and lease contracts were recognized as expenses in the reporting period.

The Vonovia leasehold contracts generally have a term of 99 years. The average remaining term of these contracts was approx. 43 years as of December 31, 2016. The owners of inheritable building rights are in particular the German state, church institutions, German federal states, municipalities and Deutsche Post AG, Bonn.

In addition to obligations under operating leases, other financial obligations include:

in € million

 

Dec. 31, 2016

 

Dec. 31, 2015

 

 

 

 

 

Other financial obligations

 

 

 

 

Cable TV service contracts

 

355.4

 

373.7

IT service contracts

 

21.9

 

22.4

Surcharges under the German Condominium Act

 

4.5

 

5.1

Caretaker service contracts

 

 

23.5

 

 

381.8

 

424.7

The obligations under cable TV service contracts are set against future income from the marketing of the cable TV service. The caretaker service contracts were gradually terminated and assumed by Vonovia’s own craftsmen’s organization.