Asset Buyout Partners Annual Report 2020

Note 14 Provisions and contingent consideration Figures in NOK Contingent consideration Other Total At the beginning of the year 12 433 452 - 12 433 452 Changes during the year - - - Accrued interest 996 306 - 996 306 At year end 13 429 758 - 13 429 758 Due within one year or less - - - Due after more than one year 13 429 758 - 13 429 758 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 contingent 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 2020 amounted to NOK 571 millions (2019: NOK 525 millions). The increase in rental income is mainly driven by acquisitions of new investment properties in 2019, where we see the full year effect this year (last year income was recognized from the acquisition date). Recognized income from rent Figures in NOK 2020 2019 Recognized rent from fixed lease payments 571 020 215 524 664 888 Recognized variable rent - - Total income from rent 571 020 215 524 664 888 ABP’s property portfolio consists of long-term contracts with solid counterparties. The weighted average contracted lease term amounted to 9,1 years (2019: 9,8 years). Future minimum payments under non-cancellable leases expire as follows: Figures in NOK 2020 2019 Within 1 year 558 286 875 566 179 646 During year 2 546 254 348 557 476 268 During year 3 520 440 111 544 263 397 During year 4 514 564 365 520 609 827 During year 5 509 885 648 513 622 436 After 5 years 3 010 693 843 3 450 937 755 Total 5 660 125 190 6 153 089 330 Carrying amount of assets leased under operating leases are as follows: Figures in NOK 2020 2019 Investment property 9 110 000 000 8 447 770 000 Total 9 110 000 000 8 447 770 000 Net other income presented in the statement of profit and loss is not related to rental income from tenants. The amount for 2020 relates mainly to a settlement in a claim for damages against a contractor for one of the properties in the portfolio. Asset Buyout Partners | Annual Report 2020 37