14. Lease assets and investment property
€ million |
|
Lease assets |
|
Investment property |
|
Total |
|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
Cost |
|
96,333 |
|
1,039 |
|
97,372 |
Foreign exchange differences |
|
−3,564 |
|
−37 |
|
−3,601 |
Changes in consolidated Group |
|
0 |
|
−1 |
|
−1 |
Additions |
|
41,837 |
|
33 |
|
41,871 |
Transfers |
|
−7 |
|
33 |
|
27 |
Disposals |
|
27,668 |
|
45 |
|
27,713 |
Balance at Dec. 31, 2025 |
|
106,932 |
|
1,023 |
|
107,954 |
Amortization and impairment |
|
23,139 |
|
417 |
|
23,557 |
Foreign exchange differences |
|
−869 |
|
−10 |
|
−879 |
Changes in consolidated Group |
|
0 |
|
0 |
|
0 |
Additions to cumulative amortization |
|
11,407 |
|
21 |
|
11,428 |
Additions to cumulative impairment losses |
|
919 |
|
3 |
|
922 |
Transfers |
|
−31 |
|
9 |
|
−21 |
Disposals |
|
9,996 |
|
28 |
|
10,024 |
Reversal of impairment losses |
|
123 |
|
– |
|
123 |
Balance at Dec. 31, 2025 |
|
24,446 |
|
413 |
|
24,859 |
Carrying amount at Dec. 31, 2025 |
|
82,486 |
|
609 |
|
83,095 |
€ million |
|
Lease assets |
|
Investment property |
|
Total |
|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
Cost |
|
86,093 |
|
1,033 |
|
87,126 |
Foreign exchange differences |
|
1,202 |
|
16 |
|
1,218 |
Changes in consolidated Group |
|
55 |
|
0 |
|
55 |
Additions |
|
37,986 |
|
7 |
|
37,994 |
Transfers |
|
115 |
|
– |
|
115 |
Disposals |
|
29,119 |
|
17 |
|
29,136 |
Balance at Dec. 31, 2024 |
|
96,333 |
|
1,039 |
|
97,372 |
Amortization and impairment |
|
21,999 |
|
401 |
|
22,400 |
Foreign exchange differences |
|
335 |
|
4 |
|
339 |
Changes in consolidated Group |
|
16 |
|
– |
|
16 |
Additions to cumulative amortization |
|
10,763 |
|
21 |
|
10,785 |
Additions to cumulative impairment losses |
|
780 |
|
– |
|
780 |
Transfers |
|
12 |
|
0 |
|
12 |
Disposals |
|
10,502 |
|
9 |
|
10,511 |
Reversal of impairment losses |
|
264 |
|
– |
|
264 |
Balance at Dec. 31, 2024 |
|
23,139 |
|
417 |
|
23,557 |
Carrying amount at Dec. 31, 2024 |
|
73,193 |
|
622 |
|
73,815 |
Lease assets include assets leased out under the terms of operating leases and assets covered by long-term buyback agreements.
Investment property includes apartments rented out and leased dealerships with a fair value of €1,444 million (previous year: €1,458 million). Fair value is estimated using an investment method based on internal calculations (Level 3 of the fair value hierarchy). Operating expenses of €104 million (previous year: €98 million) were incurred for the maintenance of investment property in use. Expenses of €2 million (previous year: €2 million) were incurred for unused investment property.
Rental income from investment property amounted to €92 million in fiscal year 2025 (previous year: €83 million).