Komplett Bank annual report 2019

Note 23 Leasing agreements The Bank has agreed to lease premises in Vollsveien 2A and 2B, 1366 Lysaker, as well as parking spaces related to the location. The leasing agreement expires 31 December 2023. All the Bank’s right of use assets is classified as the same class of underlying assets. The Bank has no short term leasing agreements or any leasing with low value that could have been classified as operational leasing according to the accounting standard. Every leasing agreement that the Bank has entered into is classed as financial leasing agreement in line with IFRS 16. All leasing agreements have prior to the introduction of IFRS 16 been classified as operational leasing agreements. NOK million Office location and parking spaces Accumulated historical cost financial leases as of 31.12.2018 - Reclassification of leasing agreements from operational leasing to financial leasing (IFRS 16) 17.2 Accumulated historical cost as of 01.01.2019 17.2 Additions in the period 2.2 Disposals in the period - Accumulated historical cost as of 31.12.2019 19.4 Accumulated depreciations as of 01.01.2019 - Depreciations 2019 3.8 Accumulated depreciations as of 31.12.2019 3.8 Book value as of 31.12.2019 15.6 Other information on leasing agreements Interest expenses 2019 1.1 Total outgoing cash flows in 2019 4.4 Profit or loss from sale or leaseback transactions in 2019 - Cost in 2019 related to variable leasing payments - Income from sublease - CASH FLOWANALYSIS NOK million 2020 2021 2022 2023 Total Outgoing cash flows for lesaing agreements 4.5 4.5 4.5 4.5 18.0 Total 4.5 4.5 4.5 4.5 18.0 Komplett Bank Annual Report 2019 105