Asset Buyout Partners Annual Report 2019

Note 14 Provisions and contingent consideration Figures in NOK Contingent consideration Other Total At the beginning of the year 19 515 213 748 556 20 263 769 Changes during the year -8 876 213 -748 556 -9 624 769 Accrued interest 1 794 452 1 794 452 At year end 12 433 452 - 12 433 452 Due within one year or less - - - Due after more than one year 12 433 452 - 12 433 452 Contingent consideration is linked to purchase of investment property. Part of the consideration was linked to future events related to the investment property. The Group has included a provision for the most likely amount payable based on the most likely outcome of the contin- gent event. The valuation of the property reflects the same outcome as the basis for the provision. Note 15 Income from rent The Groups rental income for 2019 amounted to NOK 525 million (2018: NOK 410 million). The increase in rental income is mainly driven by acquisitions of new investment property where income is recognized from the acquisition date. Recognized rent from fixed lease payments Figures in NOK 2019 2018 Recognized rent from fixed lease payments 524 664 888 409 520 541 Recognized variable rent - - Total income from rent 524 664 888 409 520 541 ABP’s property portfolio consists of long-term contracts with solid counterparties. The weighted average lease term amounted to 9.8 years (2018: 10.9 years). Future minimum payments under non-cancellable leases expire as follows: Figures in NOK 2019 2018 Within 1 year 566 179 646 508 266 811 During year 2 557 476 268 506 889 502 During year 3 544 263 397 503 731 342 During year 4 520 609 827 481 839 286 During year 5 513 622 436 475 372 256 After 5 years 3 450 937 755 3 733 299 287 Total 6 153 089 330 6 209 398 485 Carrying amount of assets leased under operating leases are as follows: Figures in NOK 2019 2018 Investment property 8 447 770 000 7 065 500 000 Total 8 447 770 000 7 065 500 000 Asset Buyout Partners | Annual Report 2019 37