22. Finance leases

22. FINANCE LEASES
 
EUR million 31 Dec 2016 31 Dec 2015
     
Finance lease receivables    
     
Amortization periods of finance lease gross receivables    
Within one year 3.6 3.7
Between one and five years 2.3 4.7
Gross investment 5.9 8.4
Unearned future finance income 0.2 0.3
Net investment 5.7 8.1
     
Present value of minimum lease payment receivables    
Within one year 3.5 3.5
Between one and five years 2.2 4.6
Net investment 5.7 8.1
 
Tieto treats certain customer dedicated IT hardware assets, normally servers, as finance lease receivables.
     
Finance lease liabilities
 
Future minimum lease payments and their present value under finance lease agreements were as follows:
     
Finance lease future payments    
Within one year 1.5 1.5
Between one and five years 4.4 5.9
  5.9 7.4
     
Present value of future minimum lease payments    
Within one year 1.3 1.2
Between one and five years 4.2 5.5
  5.5 6.7
     
Future interest charge 0.4 0.7
 
Tieto has finance leases for IT equipment and software. Certain leases include purchase options. Renewals are subject to separate negotiations. Interest rate of financial lease liabilities as of 31 Dec 2016 was 3.7 % (4.0%).