Notes

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40 Other financial obligations

 

 

PAYABLE

 

PAYABLE

 

PAYABLE

 

TOTAL

€ million

 

2022

 

2023 – 2026

 

from 2027

 

Dec. 31, 2021

 

 

 

 

 

 

 

 

 

Purchase commitments in respect of

 

 

 

 

 

 

 

 

property, plant and equipment

 

6,146

 

1,220

 

2

 

7,368

intangible assets

 

1,823

 

501

 

 

2,324

investment property

 

15

 

 

 

15

 

 

 

 

 

 

 

 

 

Obligations from loan commitments and irrevocable credit commitments

 

14,560

 

127

 

47

 

14,734

Obligations from leasing and rental contracts

 

324

 

271

 

178

 

774

 

 

 

 

 

 

 

 

 

Miscellaneous other financial obligations

 

3,976

 

3,553

 

1,956

 

9,485

 

 

26,844

 

5,673

 

2,183

 

34,700

 

 

PAYABLE

 

PAYABLE

 

PAYABLE

 

TOTAL

€ million

 

2021

 

2022 – 2025

 

from 2026

 

Dec. 31, 2020

 

 

 

 

 

 

 

 

 

Purchase commitments in respect of

 

 

 

 

 

 

 

 

property, plant and equipment

 

6,402

 

1,037

 

 

7,438

intangible assets

 

1,225

 

107

 

 

1,332

investment property

 

6

 

 

 

6

 

 

 

 

 

 

 

 

 

Obligations from loan commitments and irrevocable credit commitments1

 

11,660

 

72

 

6

 

11,739

Obligations from leasing and rental contracts

 

313

 

265

 

167

 

746

 

 

 

 

 

 

 

 

 

Miscellaneous other financial obligations

 

6,291

 

2,160

 

575

 

9,026

 

 

25,897

 

3,641

 

748

 

30,286

1

Prior-year figures adjusted.

Other financial obligations include an amount of €0.7 billion for investments to which the Group has committed itself, both in the infrastructure for zero-emission vehicles and in initiatives to promote access to and awareness of these technologies. These commitments were made as part of the settlement agreements in the USA in connection with the diesel issue.

In the previous year, this item reflected the payment of the purchase price for the acquisition of all of Navistar’s outstanding shares totaling around USD 3.7 billion.

The rise in the remaining other financial obligations is mainly attributable to obligations under development and supply contracts.

In addition to the other financial obligations shown in the table, purchase commitments exist for inventories with a short turnover period, which arise primarily from the Master Collaboration Agreement with Ford Motor Company for the joint development of vans and mid-sized pickups for the global market.

Zero-Emissions Vehicle (ZEV)
Vehicles that operate without exhibiting any harmful emissions from combustion gases. Examples of zero-emissions vehicles include purely battery-powered electric vehicles (BEV) or fuel cell vehicles.