(15) Trucks for lease from financial services
Trucks for lease from financial services developed as follows in the year under review and in the previous year:
Trucks for lease from financial services are classified as follows:
Within the framework of financial services offered by Jungheinrich Group companies acting as lessors, trucks for which a lease classified as an operating lease in accordance with IFRS has been concluded with the ultimate customer are capitalized as trucks for lease.
Trucks for lease with a residual carrying amount of €43,916 thousand (prior year: €31,457 thousand) have been pledged as collateral for the underlying liabilities from financial services within the scope of the sale of future lease payments from intragroup usage right agreements.
Customer contracts concluded with a leasing company acting as an intermediary are also capitalized under the item ‘Trucks for lease from financial services’ on the basis of the amount of an agreed residual value guarantee at more than 10 per cent of the fair value of the equipment for lease.
The following minimum lease payments will arise from ‘operating lease’ contracts existing with customers on the balance sheet date in the next few years over the non-cancellable terms of the contracts:
Trucks for lease with a carrying amount of €18,657 thousand (prior year: €16,285 thousand) are financed based on sale and leaseback agreements. Future minimum lease payments from sub-lease arrangements total €17,763 thousand (prior year: €12,414 thousand).