Hexagon Annual Report 2019

(NOK 1 000) 2019 TOTAL DISCOUNTED LEASE LIABILITIES AND MATURITY CASH OUTFLOWS Less than 1 year 47 703 1-2 years 33 338 2-3 years 28 977 3-4 years 19 419 4-5 years 17 112 More than 5 years 148 048 Total discounted lease liabilities at 31 December 294 632 LEASE LIABILITIES (NOK 1 000) 2019 TOTAL At initial application 01.01. 267 266 New lease liabilities recognized in the year 15 133 Additions from purchase of companies 47 921 Transfers and reclassifications 0 Cash payments for the principal portion of the lease liability -44 960 Cash payments for the interest portion of the lease liability -4 537 Interest expense on lease liabilities 8 883 Currency exchange differences 4 927 Total lease liabilities at 31 December 294 632 Current lease liabilities 47 203 Non-current lease liabilities 246 929 Total cash outflows for leases -49 497 SUMMARY OF THE LEASE LIABILITIES The leases do not contain any restrictions on the Group’s dividend policy or financing. The Group does not have significant residual value guarantees related to its leases to disclose. The Group has entered into some minor short-term leasing agreement for mobile pipeline systems to customers. The carrying amount of assets leased to others under operating leases are as follows: (NOK 1 000) 2019 2018 Fixtures & fittings 64 169 52 330 Total 64 169 52 330 Accumulated depreciation 7 491 436 Booked value 56 678 51 894 THE GROUP AS A LESSOR All leases are on short-term and the future minimum lease payment related to the fixed assets in 2020 are expected to be MNOK 5.4. 48 134 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS