21. Property, plant and equipment

As of 30 September 2016, property, plant and equipment totalling €8,141 million (30/9/2015: €7,955 million) was recorded. The development of property, plant and equipment is shown in the following table.

The increase of €186 million primarily stems from additions to property, plant and equipment of €1,136 million, which exceeded depreciation/amortisation/impairment losses of €854 million by €282 million. An opposite effect of €95 million was produced by disposals, which caused acquisition or production costs to decline by €732 million and depreciation/amortisation/impairment losses to decrease by €637 million.

Currency effects amounted to €−3 million (2014/15: €−446 million). The substantial decline compared with the previous year is due to the limited change in the closing date exchange rate of the Russian rouble.

The increase in property, plant and equipment essentially concerned the Media-Saturn and Real segments.

Restrictions on titles in the form of liens and encumbrances for items of property, plant and equipment amounted to €30 million (30/9/2015: €89 million).

Contractual commitments for the acquisition of property, plant and equipment in the amount of €148 million (30/9/2015: €156 million) were recorded.

Leases

Assets available to METRO GROUP under the terms of finance leases were recognised in property, plant and equipment at €903 million (30/9/2015: €845 million) and at €26 million (30/9/2015: €20 million) in investment properties; they essentially relate to leased buildings.

The following disclosures apply to all leases of METRO GROUP.

Finance leases generally have terms of 15 to 25 years with options under expiration to extend them at least once for five years. The interest rates in the leases vary by market and date of signing between 1.68 and 7.00 per cent.

In addition to finance leases, METRO GROUP also signed other types of leases classified as operating leases based on their economic value Operating leases also essentially concern leased buildings and generally have an initial term of up to 15 years. The interest rates in the leases are based partly on variable and partly on fixed rents.

Payments due under finance and operating leases in subsequent periods are shown as follows:

Future payments due on finance leases contain purchase payments amounting to €28 million required for the exercise of more favourable purchase options (30/9/2015: €32 million).

The nominal value of future lease payments due to METRO GROUP from the subleasing of assets held under finance leases amounts to €262 million (30/9/2015: €264 million).

The nominal value of future lease payments due to METRO GROUP from the subleasing of assets held under operating leases amounts to €492 million (30/9/2015: €463 million).

Profit or loss for the period includes expenses from leases totalling €1,338 million (2014/15: €1,539 million, including €156 million related to discontinued operations). In addition, this item includes income from tenancy agreements totalling €264 million (2014/15: €333 million, including €48 million related to discontinued operations).

Contingent lease payments from finance leases recognised as expenses during the period amount to €4 million (2014/15: €7 million). Contingent lease payments from operating leases recognised as expenses during the period amount to €56 million (2014/15: €53 million).

Lease payments due in subsequent periods from entities outside METRO GROUP for the rental of properties that are legally owned by METRO GROUP (METRO GROUP as lessor) are shown below: