[21] Lease receivables
in € million |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
Nominal value of outstanding lease payments |
2,705.5 |
2,242.3 |
due within one year |
775.2 |
668.0 |
due in one to two years |
636.1 |
539.0 |
due in two to three years |
509.9 |
413.2 |
due in three to four years |
385.9 |
298.7 |
due in four to five years |
241.6 |
193.9 |
due in more than five years |
156.8 |
129.6 |
|
|
|
Plus unguaranteed residual values |
506.9 |
377.9 |
Less unearned financial income |
–391.4 |
–283.2 |
Present value of outstanding lease payments |
2,821.0 |
2,337.0 |
Valuation allowances for lease receivables |
–11.2 |
–11.0 |
Adjustment from hedge accounting |
2.8 |
–11.7 |
Total lease receivables |
2,812.7 |
2,314.4 |
The average loss rates used for the recognition of valuation allowances for lease receivables in accordance with the simplified impairment approach under IFRS 9 vary depending on the country. They ranged from 0.1 percent to 0.4 percent as at December 31, 2024 (December 31, 2023: 0.04 percent to 0.3 percent).
As at December 31, 2024, outstanding lease payments with a present value of €1,086.2 million (December 31, 2023: €887.7 million) were available as collateral in connection with the financing of the lease business. The liabilities resulting from the related finance transactions are recognized under liabilities from lease business (securitizations).
Further information on hedge accounting adjustments can be found in note [42].