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Annual Statements

Financial reporting

Price winner 2012 in the category non-listed

Home Annual Statements Financial Statements 2012 Notes to the consolidated financial statements Notes to the consolidated balance sheet Other long-term receivables

24. Other long-term receivables

(in thousands of euros)

2012

2011

Surrender long leases

3,320

3,410

Lease incentives

33,975

15,784

Prepaid assets

174

15,187

Total other non-current receivables

37,469

34,381

Purchased long leases are the rent instalments which Schiphol Group paid in advance in respect of land acquired on a long lease. Lease incentives are the cost of benefits which Schiphol Group granted tenants at the start of their lease. Both items are charged to the income statement over the term of the underlying contracts. The existence of lease incentives is taken into account in establishing the cash flows underlying the determination of the fair value of property.

The prepaid assets of EUR 15.2 million in 2011 related to assets under construction developed for third parties where Schiphol Group paid the purchase price in advance. This item was recognised in trade and other receivables 2012.