Note 36 Leasing

Group 2019. MSEK Buildings and land Machinery and equipment Investment property Project and development properties Total
Koncernen 2019. Mkr Byggnader och mark Maskiner och inventarier Förvaltningsfastighet Projekt- och exploateringsfastighet Totalt
Depreciations during the year Avskrivningar under året -153 -233 – – -386
Closing recognized value Utgående redovisat värde 537 702 58 167 1,464

Additional rights of use in 2019 amounted to SEK 447 million. Included in this amount is the purchase price for rights of use newly acquired under 2019 as well as future amounts from reevaluations of leasing liabilities due to changed payments because the leasing period has changed.   

Other leasing information

Peab reports interest rate costs on leasing liabilities of SEK 40 million. Total leasing payments amount to SEK 1,981 million.

Cost of current leasing for the year is SEK 1,528 million. Cost of leasing for smaller values for the year is SEK 26 million. Variable fees not included in leasing liabilities is SEK 5 million.

Interest-bearing liabilities is presented in note 29 and maturity analysis is presented in note 35.

  • Buildings and land – mainly refers to rent for offices and other premises. Rent for offices and other premises normally matures between three and ten years. In cases where it is feasible that the extension option will be used it is included in the leasing period. Leaseholds that are non-cancellable are considered to have a never ending leasing period.
  • Machinery and equipment – mainly refers to vehicles. Leasing contracts normally mature between four and five years including extension options.
  • Investment properties – mainly refers to leaseholds. Leaseholds that are non-cancellable are considered to have a never ending leasing period.
  • Project and development properties – mainly refers to leaseholds. Leaseholds that are non-cancellable are considered to have a never ending leasing period.

Leasing contracts where the company is lessor

Leasing payments for the year recognized as income:
Group, MSEK 2019 2018
Koncernen, Mkr 2019 2018
Minimum lease payments Minimileaseavgifter 119 141
Variable fees Variabla avgifter 12 19
Total leasing income Totala leasingintäkter 131 160
Non-cancellable leasing payments amount to:
Group, MSEK 2019 2018
Koncernen, Mkr 2019 2018
Within a year Inom ett år 109 75
Between one and five years Mellan ett och fem år 212 171
Later than five years Senare än fem år 54 41
Total Summa 375 287

Leasing contracts where the company is lessee

Expensed leasing payments for the year:
Group, MSEK 2018
Koncernen, Mkr 2018
Total leasing cost Totala leasingkostnader 258
Non-cancellable leasing payments amount to:
Group, MSEK 2018
Koncernen, Mkr 2018
Within a year Inom ett år 236
Between one and five years Mellan ett och fem år 472
Later than five years Senare än fem år 38
Total Summa 746

Rental of premises, office inventory and some vehicles were classified as operational leasing contracts. Most of the leasing cost referred to rental of premises according to operational leasing contracts. The leasing contracts ran without special restrictions with an option to renew. Other operational leasing contracts were divided among a number of lesser agreements.

Leasing income generated by objects that are rented to a third party was marginal.