Annual
report 2020

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PL

13.1. Group as a lessee

The Group leases mainly land and buildings. Some of the agreements are denominated in foreign currencies and some of them are indexed with price indices applicable for a given currency. Some of the agreements include extension and termination options.

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(in PLN millions) At 31 December 2020
Cost Accumulated
depreciation		 Accumulated
impairment		 Net
Land and buildings 3,139 (684) (2) 2,453
Terminals 370 (133) – 237
Other 135 (57) – 78
Total right-of-use assets 3,644 (874) (2) 2,768

In 2020, as part of the change in accounting policy in respect to leases, the Group changed the presentation of the right-of-use assets resulting from administrative decisions for road occupation. It is presented as land and buildings to better reflect the nature of the underlying assets, previously in 2019 it was presented as other. As at 31 December 2020 and 2019, the net book value of right-of-use assets described above amounted respectively to PLN 328 million and PLN 281 million (PLN 78 million before the restatement, see Note 2.2).

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(in PLN millions) At 31 December 2019 (restated, see Note 2.2)
Cost Accumulated
depreciation		 Accumulated
impairment		 Net
Land and buildings 2,788 (369) (2) 2,417
Terminals 265 (71) – 194
Other 124 (54) – 70
Total right-of-use assets 3,177 (494) (2) 2,681

Movements in the net book value of right-of-use assets for the 12 months ended 31 December 2020 were as follows:

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Land and
buildings		 Terminals Other Total right-of-use
assets
Opening balance net of accumulated depreciation and impairment (restated, see Note 2.2) 2,417 194 70 2,681
Additions 196 105 52 353
Modifications, terminations and disposals 143 – (13) 130
Depreciation (342) (62) (30) (434)
Dismantling costs, reclassifications and other, net 39 – (1) 38
Closing balance 2,453 237 78 2,768

Movements in the net book value of right-of-use assets for the 12 months ended 31 December 2019 were as follows:

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Land and
buildings		 Terminals Other Total right-of-use
assets
Opening balance net of accumulated depreciation and impairment (restated, see Note 2.2) 2,207 124 81 2,412
Additions 248 115 24 387
Modifications, terminations and disposals 268 – 1 269
Depreciation (316) (45) (31) (392)
Dismantling costs, reclassifications and other, net 10 – (5) 5
Closing balance (restated) 2,417 194 70 2,681

In the 12 months ended 31 December 2019, the Group amended terms of the lease of its headquarters. As a result, the lease liability and right-of-use assets increased by PLN 211 million.

Gains arising from sale and leaseback transactions are disclosed in Note 8.

Information on lease liabilities is disclosed in Notes 18, 21, 25.3 and 25.6.

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13. Leases

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13.2. Group as a lessor

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