Right-of-use assets
x € 1 million | Land and buildings | Lease vehicles | Total |
|---|---|---|---|
Right-of-use assets as at 1 January 2020 | 72 | 31 | 103 |
Investments | 1 | 10 | 11 |
Contract modifications | 6 | -1 | 5 |
Disposals | -16 | -1 | -17 |
Right-of-use assets as at 31 December 2020 | 63 | 39 | 102 |
Investments | 1 | 9 | 10 |
Contract modifications | 2 | - | 2 |
Disposals | -2 | -2 | -4 |
Right-of-use assets as at 31 December 2020 | 64 | 46 | 110 |
Accumulated depreciation as at 1 January 2020 | - | - | - |
Annual depreciation and impairment | 7 | 10 | 17 |
Disposals | - | -1 | -1 |
Accumulated depreciation as at 31 December 2020 | 7 | 9 | 16 |
Annual depreciation and impairment | 7 | 10 | 17 |
Disposals | -2 | -2 | -4 |
Accumulated depreciation as at 31 December 2020 | 12 | 17 | 29 |
Net book value as at 31 December 2019 | 56 | 30 | 86 |
Net book value as at 31 December 2020 | 52 | 29 | 81 |
Stedin Group has entered into leases for a number of business premises and sites. In addition, Stedin Group leases a vehicle fleet. In 2020, Stedin Group concluded new leases for the vehicle fleet in particular.
The lease liabilities are disclosed in 25 Interest-bearing debt.
The table below presents the total lease expenses for 2020:
x € 1 million | 2020 | 2019 |
|---|---|---|
Depreciation charges for right-of-use assets | -17 | -17 |
Interest expense on lease liabilities | -1 | -1 |
Lease cost in profit & loss | -5 | -6 |
Total | -23 | -24 |
