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Finance Lease Receivables
 12 Months Ended
Dec. 31, 2017
Finance Lease Receivables [Abstract]  
Finance Lease Receivables
14. Finance Lease Receivables

 

(1) Finance lease contracts

The Company entered into a power purchase agreement (“PPA”) with Jordan Electric Power Company to provide a 373MW level Qatrana gas combined power plant over a 25 year lease term, and accounts for the PPA as a finance lease. Also, the Company has fly-ash pipe conduit finance leases with an average lease term of 7 years. In addition, the Company entered into a PPA with the Comision Federal de Electricidad in Mexico to provide for 25 years (December 2013 to November 2038) of all electricity generated from the power plant after completion of its construction and collect rates consisting of fixed costs (to recover the capital) and variable costs during the contracted period.

 

(2) Finance lease receivables as of December 31, 2016 and 2017 are as follows and included in current and non-current trade and other receivables, net, in the consolidated statements of financial position:

 

            2016      2017  
            Minimum lease
payments		      Present value of
minimum
lease payments		      Minimum lease
payments		      Present value
of minimum
lease payments		  
            In millions of won  

Less than 1 year

    ￦        55,708        12,225        49,542        13,067  

1 ~ 5 years

         423,152        214,176        381,181        203,990  

More than 5 years

         1,690,492        746,473        1,398,449        645,564  
     

 

 

     

 

 

     

 

 

     

 

 

  
   ￦        2,169,352        972,874        1,829,172        862,621  
     

 

 

     

 

 

     

 

 

     

 

 

  

 

(3) There are no impaired finance lease receivables as of December 31, 2016 and 2017.