Annual Report 2008
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Contractual obligations

 
 
payments due by period
 
 
less than 1 year
1-3 years
3-5 years
more than 5 years
total
 
 
 
 
 
 
Long-term debt
127
1,027
462
1,846
3,462
Finance leases
9
68
17
46
140
Operating leases
166
229
137
178
710
 
302
1,324
616
2,070
4,312
 

For an explanation of long-term debt, see note (59) Long-term debt for other long-term liabilities, see note (60) Other non-current liabilities. Property, plant and equipment includes EUR 140 million (2007: EUR 94 million) for finance leases and other beneficial rights of use, such as buildings rights and hire purchase agreements.

Long-term operating lease commitments totaled EUR 710 million (2007: EUR 724 million). These leases expire at various dates during the next 20 years.

The long-term operating leases are mainly related to the rental of buildings. A number of these leases originate from sale-and-leaseback arrangements. In 2008, a small sale-and-operational-leaseback has been concluded. Operating lease payments for 2008 totaled EUR 16 million (2007: EUR 14 million, 2006: EUR 20 million).

The remaining minimum payments are as follows:

 
2009
16
2010
12
2011
8
2012
8
2013
8
Thereafter
41
 

This is an interactive electronic version of the Philips Annual Report 2008 and also contains certain information in summarized form. The contents of this version are qualified in their entirety by reference to the printed version of the Philips Annual Report 2008. The printed version is available as a PDF file on this website. Information about: forward-looking statements, third-party market share data, fair value information, US GAAP basis of presentation, use of non-US GAAP information, statutory financial statements and management report, revision and reclassifications and analysis of 2007 compared to 2006.
238
239
Notes to the US GAAP financial statements
Notes to the IFRS financial statements
Notes to the Company financial statements
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