21 Leases

CHF million	2016	2015

Leasing obligations up to 1 year	16	17
Leasing obligations 1 to 5 years	37	41
Leasing obligations over 5 years	11	12
Operating leases (nominal values)	64	70

Liabilities relating to financial lease contracts in the amount of CHF 9 million (previous year: CHF 7 million) are mainly due to the leasing of the machines by GF Piping Systems and GF Automotive. The leasing obligations are included in “Other financial liabilities at fixed interest rates” and are disclosed in note 13.