Notes for P&L

All amounts in SEKm unless otherwise stated

Note 17 Leases

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Maturity structure lease liabilities 2021 2020
Within one year 122.1 92.5
1-2 years 52.1 61.7
2-3 years 80.3 39.4
3-4 years 34.6 24.2
4-5 years 14.7 15.2
Later than 5 years 37.8 3.9
Total undiscounted lease payments 341.6 236.9
Carrying amount 339.3 233.0
Revenue and costs from lease agreements 2021 2020
Lease payments received 2.6 1.9
Lease costs    
Depreciation of right-of-use assets -121.5 -95.0
Interest on lease liabilities -3.4 -2.7
Cost for short-term leasing -0.8 -0.6
Cost for leases of low-value -1.2 -0.9
Total -126.9 -99.2

Accounting principle

Lease liabilities includes the present value of the following lease payments:

  • Fixed payments (including fees that are fixed in substance)
  • Variable lease fees depending on an index or price
  • Guaranteed residual value that the lessee expects to pay to the lessor
  • The exercise price of a call option, if it is reasonably certain that the lessee will exercise the option, and
  • The fine for terminating the lease, if the length of the lease reflects the assumption that the lessee will take advantage of this opportunity

Lease payments are discounted with a discount rate based on the country's underlying currency, exchange rate, length of contract and underlying interest with a supplement for company-specific risk premium. The discount rate is the same for all assets, unless a specific interest rate is specified in the agreement.

Lease payments related to short-term leases and leases of low value assets are recognized as operating expenses on a straight-line basis over the term of the lease. Full lease accounting principle can be found in note 16

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