Note 33 - Leases
| Parent Bank | Group | |||
| 2019 | 2020 | Right-of-use assets (NOK million) | 2020 | 2019 |
| 379 | 392 | Acquisition cost 1 January | 581 | 587 |
| 9 | - | Addition of right-of-use assets | 43 | 32 |
| - | - | Disposals | - | -43 |
| 4 | 5 | Transfers and reclassifications | 13 | 5 |
| 392 | 397 | Acquisition cost 31 December | 636 | 581 |
| - | 49 | Accumulated depreciation and impairment 1 January | 82 | - |
| 49 | 50 | Depreciation | 84 | 87 |
| - | - | Disposals | -1 | -4 |
| 49 | 99 | Accumulated depreciation and impairment 31 December | 166 | 82 |
| 342 | 297 | Carrying amount of right-of-use assets 31 December | 470 | 498 |
| Lease liabilities | ||||
| 2019 | 2020 | Undiscounted lease liabilities and maturity of cash outflows (NOK million) | 2020 | 2019 |
| 42 | 42 | Less than 1 year | 82 | 78 |
| 41 | 37 | 1-2 years | 71 | 72 |
| 37 | 36 | 2-3 years | 66 | 63 |
| 36 | 28 | 3-4 years | 54 | 59 |
| 31 | 53 | 4-5 years | 77 | 51 |
| 197 | 170 | More than 5 years | 230 | 245 |
| 383 | 366 | Total undiscounted lease liabilities at 31 December | 579 | 567 |
| 2019 | 2020 | Summary of the lease liabilities (NOK million) | 2020 | 2019 |
| 379 | 347 | At initial application 01.01.2019 | 505 | 587 |
| 12 | - | New lease liabilities recognised in the year | 52 | 19 |
| -44 | -44 | Cash payments for the principal portion of the lease liability | -76 | -76 |
| -10 | -9 | Cash payments for the interest portion of the lease liability | -13 | -13 |
| 10 | 9 | Interest expense on lease liabilities | 13 | 13 |
| - | - | Other changes | -2 | -25 |
| 347 | 303 | Total lease liabilities at 31 December | 479 | 505 |
| 41 | 41 | Current lease liabilities (note 37) | 63 | 65 |
| 306 | 263 | Non-current lease liabilities (note 37) | 416 | 440 |
| -43 | -45 | Total cash outflows for leases | -79 | -76 |
| 2019 | 2020 | Summary of other lease expenses recognised in profit or loss (NOK million) | 2020 | 2019 |
| 9 | 10 | Variable lease payments expensed in the period | 20 | 34 |
| 4 | 1 | Operating expenses in the period related to short-term leases (including short-term low value assets) | 7 | 11 |
| - | - | Operating expenses in the period related to low value assets (excluding short-term leases included above) | 1 | 1 |
| 13 | 11 | Total lease expenses included in other operating expenses | 28 | 46 |
Financial results
Annual report and notes
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