Balance Sheet Disclosures

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24. Leases

Real estate from finance leases is also presented under property, plant and equipment. It is included in the "Land and buildings" item in an amount of 871.6 million euros (previous year: 499.0 million euros).

Many of the leased properties are partially or fully subleased. A majority of the subleasing is made to companies in connection with the REWE partnership model. The lease agreements have varying terms and conditions, rent increase clauses and renewal options. Purchase options are not normally included.

In addition, assets classified as other operating and office equipment are leased in connection with operating leases with short-term termination clauses.

Finance Leases as Lessee

Reconciliation of Minimum Lease Payments to be Paid to the Recognised Present Value of the Obligation
in million €31 Dec. 201731 Dec. 2016
Total minimum lease payments from finance leases1,052.5608.9
Discounting-152.8-91.1
Present value of liabilities from finance leases899.7517.8
Allocation of the Minimum Lease Payments, the Discounting and Present Value of the Minimum Lease Payments by Residual Maturity
in million €Up to 1 year1 to 5 yearsMore than 5 years31 Dec. 2017
Total
Total minimum lease payments from finance leases82.4334.1636.01,052.5
Discounting-19.3-66.1-67.4-152.8
Present value of liabilities from finance leases63.1268.0568.6899.7
in million €Up to 1 year1 to 5 yearsMore than 5 years31 Dec. 2016
Total
Total minimum lease payments from finance leases45,3175,9387,7608,9
Discounting-11,3-37,6-42,2-91,1
Present value of liabilities from finance leases34,0138,3345,5517,8

The change in the present value of the lease obligations resulted in particular from the addition of new finance leases in the Retail Germany business segment, the first-time consolidation of REWE Dortmund SE & Co. KG, Dortmund, and the scheduled repayments of lease commitments.

Operating Leases as Lessee

Total Future Minimum Lease Payments to be Paid Resulting from Non-Cancellable Operating Leases
in million €31 Dec. 201731 Dec. 2016
Up to 1 year1,843.91,716.8
1 to 5 years5,674.35,216.9
More than 5 years4,895.14,560.3
Future payments on operating leases12,413.311,494.0

Operating Leases as Lessor

Total Future Expected Lease Payments Resulting from Non-Cancellable Operating Leases
in million €31 Dec. 201731 Dec. 2016
Up to 1 year716.4601.3
1 to 5 years2,105.71,743.6
More than 5 years2,037.51,551.9
Future payments expected from operating leases4,859.63,896.8

The principal amount of minimum lease payments that the groups will receive in future from subleasing properties leased under operating leases is 4,587.0 million euros (previous year: 3,854.5 million euros). Some of the subleasing income is secured through security deposits and payment guarantees. The increase in future subleasing income to be received and in expected future total leasing income resulted primarily from the conclusion of new sublease agreements.