in € millions | 12/31/2016 | 12/31/2015 |
---|---|---|
Guarantees | 30 | 37 |
Rental and lease commitments | 1,740 | 1,499 |
Other commitments | 3,981 | 3,907 |
5,751 | 5,443 |
Of other commitments, €2,932 million (previous year: €2,797 million) pertains to RTL Group. These relate to supply agreements for productions and coproductions, contracts for TV licenses and broadcasting rights and other rights and services. A further €782 million (previous year: €775 million) of other commitments pertains to Penguin Random House, which represents the portion of obligations to authors for which no payments have yet been made, where future payments are contingent upon other events (such as delivery and acceptance of manuscripts). Other commitments of €22 million (previous year: €49 million) are for the acquisition of property, plant and equipment.
The following minimum lease payments exist from all of the Group’s long-term rental commitments classified as operating leases:
in € millions | 12/31/2016 | 12/31/2015 |
---|---|---|
Nominal amount | 284 | |
Up to 1 year | 285 | 754 |
1 to 5 years | 765 | 461 |
Over 5 years | 691 | 1,499 |
1,741 | 1,347 | |
Present value | 1,501 | 1.347 |
These commitments largely concern tenancy and technical broadcasting facilities. They are partially offset by expected minimum lease payments from subleases with a nominal amount of €60 million (previous year: €71 million). The net present values calculated considering country-specific interest rates show all of the net payments required to settle the obligation.