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47.2. Quantitative data

Annual Report 2019 > Results 2019 > Supplementary Information and Notes > 47 Leases > 47.2. Quantitative data
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47.2.1.  PZU Group as the lessor

47.2.1.1.  Finance leases

Leasing investments 31 December 2019
Undiscounted lease payments 10,688
Up to 1 year 4,156
From 1 year to 2 years 3,049
From 2 to 3 years 982
From 3 to 4 years 1,279
From 4 to 5 years 626
Over 5 years 596
Unrealized financial income (903)
Discounted unguaranteed residual values -
Net lease investments 9,785
 
Gross financial lease receivables  31 December 2018
  Gross lease investment Present value of minimum lease payments Unrealized income
Up to 1 year 2,796 2,783 313
1 to 5 years 5,634 5,636 402
Over 5 years 541 521 29
Total 8,971 8,940 744

47.2.1.2.  Operating leases

Operating lease transactions pertain principally to investment property lease agreements. The table below presents future minimum lease payments under operating lease (undiscounted amounts).

Future minimum receivables on lease payments 31 December 2019
Up to 1 year 164
From 1 year to 2 years 149
From 2 to 3 years 137
From 3 to 4 years 104
From 4 to 5 years 85
Over 5 years 168
Total future minimum receivables on lease payments 807
 
Future minimum receivables on lease payments 31 December 2018
Up to 1 year 224
1 to 5 years 561
Over 5 years 320
Total future minimum receivables on lease payments 1,105

47.2.2.  PZU Group as the lessee

47.2.2.1.  As of 1 January 2019 (in accordance with IFRS 16)

Right-of-use assets carried as property, plant and equipment 31 December 2019
Means of transport 30
Other property, plant and equipment 2
Real property 994
Total right-of-use assets 1,026

Movement in right-of-use assets used for own needs is presented together with the movement in property, plant and equipment in section 30.2.

Lease-related costs 31 December 2019
Depreciation of right-of-use assets 297
Plant and machinery 19
Means of transport 13
Other property, plant and equipment 1
Real property 264
Interest on lease liabilities 29
Short-term lease-related costs 114
Low-value asset lease-related costs -
Costs of variable lease payments not carried in valuation of lease liabilities -
 

47.2.2.2.  Operating leases – until 31 December 2018 (in accordance with IAS 17)

Operating lease liabilities result primarily from the lease of commercial and office space. The PZU Group pursues a policy of concluding agreements for a definite term from 3 to 5 years with a renewal option. The table below presents future minimum lease payments under operating lease (undiscounted amounts).

Minimum operating lease payment liabilities 31 December 2018
Up to 1 year 291
1 to 5 years 740
Over 5 years 149
Total minimum operating lease payment liabilities 1,180