Lease Liabilities
The lease liabilities mostly relate to the leasing of office buildings as of December 31, 2021.
The movement in the lease liabilities is as follows:
|
2021 |
2020 |
||
|---|---|---|---|
|
Principal recognized at 1 January |
71 |
173 |
|
|
Additions |
10 |
12 |
|
|
Redemptions |
(20) |
(28) |
|
|
Foreign currency variations |
(4) |
3 |
|
|
Other |
- |
(87) |
|
|
Total movements |
(15) |
(101) |
|
|
Remaining principal at 31 December |
56 |
71 |
|
|
Of which |
|||
|
Current portion |
19 |
20 |
|
|
Non-current portion |
37 |
51 |
The movements in lease liabilities over the period were mainly related to regular redemptions and foreign currency variations. In 2020, the other movements related to the derecognition of the lease liability related to the DSCV Installer.
Maturity of the lease liabilities is analyzed in section 4.3.28 financial instruments - fair values and risk management (paragraph dedicated to liquidity risk).
The total cash outflow for leases in 2021 was US$22 million, which includes redemptions of principal and interest payments. Total interest for the period amounted to US$2 million.