9. Property, plant and equipment

The following table shows a reconciliation of the carrying amounts of property, plant and equipment for the periods presented in the consolidated financial statements as of March 31, 2010:

As of March 31, 2010, restrictions on the disposal of property, plant and equipment amounted to EUR 23.9 million (March 31, 2009: EUR 34.7 million). Furthermore, as of March 31, 2010, commitments for the purchase of property, plant and equipment amounted to EUR 211.2 million (March 31, 2009: EUR 388.4 million).

Immaterial borrowing costs relating to qualifying assets were capitalized for the first time in the reporting period. The calculation was based on an average borrowing cost rate of 4.4%.

As of March 31, 2010, the gross carrying amount and accumulated depreciation of investment properties (IAS 40) are reported as follows:

The following table shows a reconciliation of the carrying amounts of investment properties for the periods presented in the consolidated financial statements as of March 31, 2010:

Investment properties are measured at cost. Depreciation is recorded in line with the general accounting policies for property, plant and equipment. Based on comparable sales transactions, the market value of these assets is estimated at EUR 23.9 million (March 31, 2009: EUR 24.0 million).

The carrying amount for each class of asset under finance leases is reported as follows:

The present value of the minimum finance lease payments is due as follows:

The most significant finance lease agreements for buildings and production plants have a term between 5 and 22 years. Thereby, the Group has the option to purchase the plants at the end of the contracted period at the nominal value or renew the contract. The obligations from finance lease agreements are collateralized mainly by way of retention of title to the leased asset by the lessor.

In addition to finance leases, obligations also exist under operating leases for property, plant and equipment that are not reported on the statement of financial position. These obligations are due as follows:

Payments of EUR 34.7 million (2008/09: EUR 24.5 million) under operating leases have been recognized as expenses.

The most significant operating lease agreements are related to buildings with a lease term of at least 15 years and with a renewal option of about 10 years in certain cases. At the end of the lease term there are purchase options. There are no restrictions concerning dividends, additional debt, and further leases.