16 Property and other equipment

The LLB Group as lessee

Details of leases are provided in various notes. Further details about leases, apart from in this note, can be found for the repayment of leasing liabilities (see Statement of cash flows and note 24) as well as their amounts (note 27), maturities (see Risk management, chapter 2), interest expenses (see note 1) and depreciation (see note 8).

Leasing relationships not recognised in the balance sheet

Expenses from unrecognised leases are included in general and administrative expenses.

Further information

Within the scope of its strategy, the LLB Group evaluates which locations have relevance in its target markets and whether properties should be bought or leased at these locations. If it decides against the purchase of properties, leasing contracts are concluded. These often contain termination and extension options. The assessment of these options is taken into consideration at the time of initial recognition; they are reassessed annually.

The recognised liabilities from leasing contracts and the corresponding rights of use contain extension options. These reflect the current assumptions relating to durations. The off-balance sheet leasing contracts encompass office premises with short contract periods, as well as parking places, which contain reciprocal short-term termination options. These are basically classified as short-term leases provided there is substitutability for them.

The LLB Group as lessor

Future claims from operating leases

For the 2020 business year CHF thousands 1’799 and for the 2019 business year CHF thousands 1’819 from operating leases are reported in other income. Only properties are leased.