Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Leases

v3.20.1
Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases

13. Leases

 

Right of use assets, net

 

The Group leases a fleet of cars for its sales staff and qualified employees with different expiration dates, being the latest expiration date in April 2023. Those leases were recorded as right of use assets as follows:

 

        January 1,
2019
    Additions     Disposals     December 31,
2019
 
                                     
Cost     Ps. 36,909       -       -       36,909  

 

        January 1,
2019
    Additions     Disposals     December 31,
2019
 
                                     
Accumulated depreciation     Ps. -       (13,098 )     -       (13,098 )

 

Rental expense for the year ended December 31, 2018 was Ps. 6,100.

 

As of December 31, 2019, the Group has commitments derived from short-term lease contracts (Note 26).

 

Lease liability

 

The lease liabilities as of December 31, 2019 amounted $24,584.

 

The maturity analysis of total future minimum lease payments, including non-accrued interest, is as follows:

 

Year       Amount  
2020     Ps 15,463  
2021         8,617  
2022         3,310  
2023         29  
             
      Ps   27,419  

 

Interest expense generated from the lease liability amounted to Ps. 3,765 for the year ended December 31, 2019.