Asset Buyout Partners Annual Report 2019

Note 21 Leases Group as a lessor The Group has entered into leases on its property portfolio. Refer to Note 15 for further information. The Group as a lessee The most significant lease contracts for the group relates to leases of land. The right of use asset from these leases are classified as investment property. Other leases relates to office space and equipment. Right-of-use assets The Group’s right-of-use assets are categorised and presented in the table below: Figures in NOK Office buildings Other leases Total property plant and equipment Investment properties (Land) Right-of-use assets Acquisition cost at 1 January 2019 4 317 588 1 238 989 5 556 576 26 353 054 Addition of right-of-use assets - 2 326 314 Disposals - Transfers and reclassifications - Currency exchange differences - Acquisition cost at 31 December 2019 4 317 588 1 238 989 5 556 576 28 679 367 Accumulated depreciation and impairment at 1 January 2019 - - - - Depreciation/fair value adjustments -1 335 212 -425 499 -1 760 711 -525 637 Impairment losses in the period - Disposals - Transfers and reclassifications - Currency exchange differences - Accumulated depreciation and impairment at 31 December 2019 -1 335 212 -425 499 -1 760 711 -525 637 Carrying amount of right-of-use assets at 31 December 2019 2 982 376 813 490 3 795 866 28 153 730 Lower of remaining lease term or economic life 2-4 years 1-3 years 40-45 years Depreciation method Linear Linear Fair value Right-of-use asset related to Property, plant and equipement is presented as part of “Other assets”. Lease liabilities Figures in NOK Total Undiscounted lease liabilities and maturity of cash outflows Less than 1 year 4 199 412 1-2 years 4 166 412 2-3 years 2 660 745 3-4 years 2 327 412 4-5 years 2 327 412 More than 5 years 45 272 040 Total undiscounted lease liabilities at 31 December 2019 60 953 434 Asset Buyout Partners | Annual Report 2019 43