Note 19 Leases

Finance lease receivables

The receivables in respect of finance leases as at year-end 2023 were as follows:

€ million	Less than 1 year	Between 1 and 5 years	Over 5 years	Total
As at 31 December 2023
Future minimum lease receivables	1	1	1	3
Unearned finance income	-1	-	-	-1

Present value of finance lease receivables	-	1	1	2

As at 31 December 2022
Future minimum lease receivables	-	2	1	3
Unearned finance income	-	-1	-	-1

Present value of finance lease receivables	-	1	1	2

Receivables in respect of finance leases concern the rental of transformers and batteries.

Off-balance sheet operating lease receivables

The total future minimum lease receivables from non-cancellable operating leases not shown on the face of the balance sheet are as follows:

€ million	2023	2022
Less than 1 year	29	24
Between 1 and 2 years	19	14
Between 2 and 3 years	18	14
Between 3 and 4 years	18	14
Between 4 and 5 years	18	13
Over 5 years	141	93

Total as at 31 December	243	172

Operating leases at year-end 2023 relate to the rental of transformers, batteries and buildings, and the lease of two district heating networks to Vattenfall Warmte N.V., part of Vattenfall N.V.

Lease liabilities

€ million	Less than 1 year	Between 1 and 5 years	Over 5 years	Total
As at 31 December 2023
Future lease payments of the on-balance lease liabilities	25	58	53	136
Future finance expenses on the on-balance lease liabilities	-2	-3	-1	-6

Present value of the on-balance lease liabilities	23	55	52	130

As at 31 December 2022
Future lease payments of the on-balance lease liabilities	22	49	58	129
Future finance expenses on the on-balance lease liabilities	-1	-3	-2	-6

Present value of the on-balance lease liabilities	21	46	56	123

Alliander has lease liabilities in respect of buildings, spaces, telecommunication interconnections and vehicles.

Besides the above lease liabilities, there was an undiscounted amount of €12 million in lease liabilities to which Alliander had committed but that had not yet started at year-end 2023, relating mainly to vehicles. At year-end 2022 this was €9 million.