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3i Group plc
Report and accounts 2006
Report and accounts 2006
Notes to the financial statements
33 Operating leases
Leases as lessee
Future minimum payments due under non-cancellable operating lease rentals are as follows:
| 2006 £m |
2005 £m |
|
|---|---|---|
| Less than one year | 6 | 6 |
| Between one and five years | 32 | 33 |
| More than five years | 39 | 45 |
| Total | 77 | 84 |
The Group leases a number of its offices under operating leases. None of the leases include contingent rentals.
During the year to 31 March 2006, £6 million was recognised as an expense in the income statement in respect of operating leases (2005: £9 million). £2 million was recognised as income in the income statement in respect of subleases (2005: £2 million).