Saint Gobain, a France-based global enterprise, is involved in the production and sales of flat glass and building materials. It reports in its financial statements for the year ended 31 December 2011 the following balance sheet excerpts (Source: Annual report 2011 €“ IFRS).

In the Notes to the accounts, the detail of net debt is provided.
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In Note 26, several disclosures concerning lease arrangement can be found.
Obligations under finance leases
Non-current assets acquired under finance leases are recognized as an asset and a liability in the consolidated balance sheet. At December 31, 2011, E36 million of future minimum lease payments due under finance leases concerned land and buildings. Total assets under finance leases recognized in consolidated assets amounted to E119 million at December 31, 2011 (December 31, 2010: E130 million).

Obligations under operating leases
The group leases equipment, vehicles and office, manufacturing and warehouse space under various non-cancelable operating leases. Lease terms generally range from one to nine years. The commitment corresponding to total future minimum payments over the lease term is discounted. The leases contain rollover options for varying periods of time and some include clauses covering the payment of real estate taxes and insurance. In most cases, management expects that these leases will be rolled over or replaced by other leases in the normal course of business. Rental expense was E813 million in 2011, including rental expense of E533 million for land and buildings and revenue from subleases of E20 million. The net rental expense is E793 million. Future minimum payments due under non-cancelable operating leases are as follows:

Required
1. Reconcile the figures reported for net debt in the Notes and the figures given in the balance sheet.
2. Identify in the Notes the figures relating to finance leases.
3. Reconcile the detail of net debt and the special information given on finance leases.
4. In the Notes, what information relating to interest implicit in lease payments and to finance leases in general is not given?

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Consolidated balance sheet (excerpts) in millions As at December 31 2011 2010 Long-tem debt Provisions for pensions and other 8,3267,822 3,458 2,930 employee benefits Defered tax liabilities Other non-current liabilities and 909 2,143 2,228 893 proisions Non-current liabilities Current portionlof long-term debt Current portion of other liabilities Trade accounts payable Current tax liabilities Other payables Short-term debt and bank overdrafts1 Current liabilities 14,820 13,889 1,656 1,094 527 6,018 5,690 156 733 165 3,562 3,395 1,062 1,014 13,196 11,876 Note 19 Net debt in millions As at December 31 2011 2010 Bond issues and medium term notes 7,620 7,104 Perpetual bonds and participating Other long-term debt including Debt recogrized at fair value under Fair value of interest rate hedges 203 347332 157 26 Total long-term debt (excluding832 7,822 Current portion of long-term debt 1,656 1,094 203 securities finance leases 156 the fair value option current portion) Short-term financing programs 76 Commercial paper denominated in $or ) Bank overdrafts and other short- 627 684 term bank borrowings Securitization Fair value of derivatives relating to 327 3 357 borrowings not qualfied as hedges Short-term debt and bank 1,062 1,014 overdrafts TOTAL GROSS DEBT Cash and cash equivalents TOTAL NET DEBT INCLUDING 11,044 9,930 2,949)2,762) 8,0957,168 ACCRUED INTEREST Note 26 Commitments in millions As at December 31 2011 2010 Future minimum lease payments Due within one year Due in one to five years Due beyond fie years Total 25 46 10 81 42 65 13 120 12 108 Present value of future minimum 72 lease payments Note 26 Commitments in millions) Total Total Payments due 2011 Within 1to 5 Beyond 2010 1 year years 5years Operating leases 3,028 776 1,541 Rental 711 2,697 (59 | (17) | (29) | (13) | (46) 2,969 759 1,512 698 2,651 expense Subletting revenue Total