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Deutsche EuroShop - Annual Report 2006

History:

Consolidated Balance Sheet Disclosures

5. Other non-current assets

in € thousand 31 Dec. 2006 31 Dec. 2005
Other non-current assets 16,508 26

This item refers to leasing expenses paid in advance by our Polish property holding company, which will be reversed during initial measurement in 2008. In addition, it includes capital contributions still to be received from minority shareholders for Stadt-Galerie Hameln KG and Stadt-Galerie Passau KG.

The item also includes an interest rate swap in the amount of €1,804 thousand resulting from a long-term loan taken out by Deutsche EuroShop AG, which was entered into to hedge the variable interest rate with an interest rate hedge in the same amount. The swap was measured at €383 thousand at the balance sheet date. In addition, our Polish property holding company took out an option to hedge against rising capital market rates in 2006. This will result in cash inflows of €2,070 thousand in the period up to 2016. The present value of the long-term interest receivable on the balance sheet date was 1,421 thousand.



Continue reading: 6. Trade receivables

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