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20  RIGHT-OF-USE ASSETS (GROUP AS LESSEE)

This note provides information for leases where the Group is a lessee. For leases where the Group is a lessor see note 5.

20.1  AMOUNTS RECOGNIZED IN THE FINANCIAL STATEMENTS

The amounts recognized in the balance sheet are as follows:

 

 

Property

Office 

equipment

Machines

Motor 

vehicles

Total

CHF 1,000

 

 

 

 

 

Balance at January 1, 2019

 45,313 

 61 

 - 

 3,253 

 48,627 

Acquisition through business combination

 2,961 

 - 

 - 

 - 

 2,961 

Additions and subsequent measurement

 1,729 

 (1) 

 - 

 1,180 

 2,908 

Depreciation

 (8,775) 

 (23) 

 - 

 (1,715) 

 (10,513) 

Disposals

 - 

 - 

 - 

 (3) 

 (3) 

Translation differences

 (495) 

 (1) 

 - 

 (56) 

 (552) 

 

 

 

 

 

 

Balance at December 31, 2019

 40,733 

 36 

 - 

 2,659 

 43,428 

 

 

 

 

 

 

Additions and subsequent measurement

 4,159 

 32 

 26 

 1,549 

 5,766 

Depreciation

 (9,325) 

 (19) 

 (9) 

 (1,562) 

 (10,915) 

Disposals

 - 

 (7) 

 - 

 (109) 

 (116) 

Translation differences

 (1,027) 

 - 

 - 

 (54) 

 (1,081) 

 

 

 

 

 

 

Balance at December 31, 2020

 34,540 

 42 

 17 

 2,483 

 37,082 

The related lease liabilities are disclosed in note 22.

 

The amounts recognized in the statement of profit or loss are as follows:

 

 

2019

2020

CHF 1,000

 

 

Depreciation expense of right-of-use assets

 10,513 

 10,915 

Expense related to short-term leases

 73 

 114 

Expense related to low-value leases

 - 

 62 

 

 

 

Interest cost on lease liabilities (included in finance cost)

 612 

 530 

 

 

 

Total amount recognized in profit or loss

 11,198 

 11,621 

In financial year 2020, the Group paid a total amount of CHF 11.2 million (2019: CHF 10.6 million) to its lessors.

 

20.2  ADDITIONAL DISCLOSURES

The Group has several property lease contracts that include renewal and termination options. Where useful, the Group aims to incorporate options into its leases in order to maximize operational flexibility. Normally, these options are exercisable only by the lessee and not by the lessors. For the main locations, the undiscounted potential future rental payments relating to periods following the exercise date of the options are estimated at CHF 47.1 million, of which CHF 15.0 million, particularly the headquarters in Switzerland, are considered in the valuation of the right-of-use assets as at December 31, 2020.

 

At year-end 2020, there was no material new lease commitment with commencement date after the balance sheet date (2019: CHF 2.8 million).

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