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v3.22.1

Leases (Tables) | 12 Months Ended
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Dec. 31, 2021
Presentation of leases for lessee [abstract] |
Summary of Right-of-Use Assets |
(2) | Right-of-use assets as of December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |
|  |  |  |  | Acquisition cost |  |  | Accumulated depreciation |  |  | Book value |
|  |  |  |  | In millions of won |
Land |  | ￦ |  |  |  |  | 811,014 |  |  |  | (104,435 | ) |  |  | 706,579 |
Buildings |  |  |  |  |  |  | 82,749 |  |  |  | (35,527 | ) |  |  | 47,222 |
Structures |  |  |  |  |  |  | 24,175 |  |  |  | (3,689 | ) |  |  | 20,486 |
Machinery |  |  |  |  |  |  | 1,308 |  |  |  | (613 | ) |  |  | 695 |
Ships |  |  |  |  |  |  | 4,280,331 |  |  |  | (842,968 | ) |  |  | 3,437,363 |
Vehicles |  |  |  |  |  |  | 29,281 |  |  |  | (15,756 | ) |  |  | 13,525 |
Others(*) |  |  |  |  |  |  | 2,676,356 |  |  |  | (2,360,060 | ) |  |  | 316,296 |
|  | ￦ |  |  |  |  | 7,905,214 |  |  |  | (3,363,048 | ) |  |  | 4,542,166 |
| (*) | Including power purchase agreements (“PPA”) with GS EPS and another LNG combined power supplier.
|  |  |  |  | 2021 |
|  |  |  |  | Acquisition cost |  |  | Accumulated depreciation |  |  | Book value |
|  |  |  |  | In millions of won |
Land |  | ￦ |  |  |  |  | 814,795 |  |  |  | (162,000 | ) |  |  | 652,795 |
Buildings |  |  |  |  |  |  | 106,823 |  |  |  | (43,939 | ) |  |  | 62,884 |
Structures |  |  |  |  |  |  | 26,374 |  |  |  | (5,226 | ) |  |  | 21,148 |
Machinery |  |  |  |  |  |  | 1,308 |  |  |  | (743 | ) |  |  | 565 |
Ships |  |  |  |  |  |  | 4,217,735 |  |  |  | (1,188,516 | ) |  |  | 3,029,219 |
Vehicles |  |  |  |  |  |  | 30,375 |  |  |  | (16,757 | ) |  |  | 13,618 |
Others(*) |  |  |  |  |  |  | 2,650,728 |  |  |  | (2,371,560 | ) |  |  | 279,168 |
|  | ￦ |  |  |  |  | 7,848,138 |  |  |  | (3,788,741 | ) |  |  | 4,059,397 |
| (*) | Including a power purchase agreement (“PPA”) with CGN Yulchon Generation Co., Ltd.
Summary of Changes in Right-of-Use Assets |
(3) | Changes in right-of-use assets for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |
|  |  |  |  | Beginning balance |  |  | Increase |  |  | Depreciation |  |  | Decrease |  |  | Others |  |  | Ending balance |
|  |  |  |  | In millions of won |
Land |  | ￦ |  |  |  |  | 644,074 |  |  |  | 12,269 |  |  |  | (52,069 | ) |  |  | — |  |  |  | 102,305 |  |  |  | 706,579 |
Buildings |  |  |  |  |  |  | 34,577 |  |  |  | 53,182 |  |  |  | (37,609 | ) |  |  | (803 | ) |  |  | (2,125 | ) |  |  | 47,222 |
Structures |  |  |  |  |  |  | 25,644 |  |  |  | 260 |  |  |  | (1,485 | ) |  |  | — |  |  |  | (3,933 | ) |  |  | 20,486 |
Machinery |  |  |  |  |  |  | 824 |  |  |  | — |  |  |  | (129 | ) |  |  | — |  |  |  | — |  |  |  | 695 |
Ships |  |  |  |  |  |  | 3,688,289 |  |  |  | 183,789 |  |  |  | (427,221 | ) |  |  | — |  |  |  | (7,494 | ) |  |  | 3,437,363 |
Vehicles |  |  |  |  |  |  | 13,708 |  |  |  | 9,009 |  |  |  | (7,747 | ) |  |  | (21 | ) |  |  | (1,424 | ) |  |  | 13,525 |
Others |  |  |  |  |  |  | 376,457 |  |  |  | 32,825 |  |  |  | (59,994 | ) |  |  | (3 | ) |  |  | (32,989 | ) |  |  | 316,296 |
|  | ￦ |  |  |  |  | 4,783,573 |  |  |  | 291,334 |  |  |  | (586,254 | ) |  |  | (827 | ) |  |  | 54,340 |  |  |  | 4,542,166 |
|  |  |  |  | 2021 |
|  |  |  |  | Beginning balance |  |  | Increase |  |  | Depreciation |  |  | Decrease |  |  | Others |  |  | Ending balance |
|  |  |  |  | In millions of won |
Land |  | ￦ |  |  |  |  | 706,579 |  |  |  | 7,312 |  |  |  | (57,231 | ) |  |  | — |  |  |  | (3,865 | ) |  |  | 652,795 |
Buildings |  |  |  |  |  |  | 47,222 |  |  |  | 22,336 |  |  |  | (25,780 | ) |  |  | (1,469 | ) |  |  | 20,575 |  |  |  | 62,884 |
Structures |  |  |  |  |  |  | 20,486 |  |  |  | 2,198 |  |  |  | (1,536 | ) |  |  | — |  |  |  | — |  |  |  | 21,148 |
Machinery |  |  |  |  |  |  | 695 |  |  |  | — |  |  |  | (130 | ) |  |  | — |  |  |  | — |  |  |  | 565 |
Ships |  |  |  |  |  |  | 3,437,363 |  |  |  | 9,694 |  |  |  | (411,291 | ) |  |  | — |  |  |  | (6,547 | ) |  |  | 3,029,219 |
Vehicles |  |  |  |  |  |  | 13,525 |  |  |  | 9,583 |  |  |  | (8,162 | ) |  |  | (7 | ) |  |  | (1,321 | ) |  |  | 13,618 |
Others |  |  |  |  |  |  | 316,296 |  |  |  | 27,090 |  |  |  | (50,485 | ) |  |  | (10,311 | ) |  |  | (3,422 | ) |  |  | 279,168 |
|  | ￦ |  |  |  |  | 4,542,166 |  |  |  | 78,213 |  |  |  | (554,615 | ) |  |  | (11,787 | ) |  |  | 5,420 |  |  |  | 4,059,397 |
Summary of Lease liabilities |
(4) | Lease liabilities as of December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Less than 1 year |  | ￦ |  |  |  |  | 614,442 |  |  |  | 620,121 |
1 ~ 5 years |  |  |  |  |  |  | 2,133,538 |  |  |  | 2,158,145 |
More than 5 years |  |  |  |  |  |  | 2,461,557 |  |  |  | 2,150,722 |
|  |  |  |  |  |  | 5,209,537 |  |  |  | 4,928,988 |
Less : Discount |  |  |  |  |  |  | (588,441 | ) |  |  | (518,485 | )
Present value of lease payment |  | ￦ |  |  |  |  | 4,621,096 |  |  |  | 4,410,503 |
Summary of Liquidity Classification of Lease Liabilities |
(5) | The details of the liquidity classification of lease liabilities as of December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Current lease liabilities |  | ￦ |  |  |  |  | 576,665 |  |  |  | 583,558 |
Non-current lease liabilities |  |  |  |  |  |  | 4,044,431 |  |  |  | 3,826,945 |
|  | ￦ |  |  |  |  | 4,621,096 |  |  |  | 4,410,503 |
Summary of Changes in lease liabilities |
(6) | Changes in lease liabilities for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |
|  |  |  |  | Beginning balance |  |  | Increase |  |  | Decrease |  |  | Interest expenses |  |  | Others(*) |  |  | Ending balance |
|  |  |  |  | In millions of won |
Lease liabilities |  | ￦ |  |  |  |  | 5,070,133 |  |  |  | 280,114 |  |  |  | (725,759 | ) |  |  | 111,782 |  |  |  | (115,174 | ) |  |  | 4,621,096 |
| (*) | Including translation effect of foreign currency lease liabilities and others.
|  |  |  |  | 2021 |
|  |  |  |  | Beginning balance |  |  | Increase |  |  | Decrease |  |  | Interest expenses |  |  | Others(*) |  |  | Ending balance |
|  |  |  |  | In millions of won |
Lease liabilities |  | ￦ |  |  |  |  | 4,621,096 |  |  |  | 73,090 |  |  |  | (665,687 | ) |  |  | 93,651 |  |  |  | 288,353 |  |  |  | 4,410,503 |
| (*) | Including translation effect of foreign currency lease liabilities and others.
Summary of Details of Expense Relating to Lease Contracts As Lessee |
(7) | Details of expense relating to lease contracts as lessee for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Depreciation of right-of-use assets |  | ￦ |  |  |  |  | 586,254 |  |  |  | 554,615 |
Interest expenses of lease liabilities |  |  |  |  |  |  | 111,782 |  |  |  | 93,651 |
Leases expenses for short-term leases |  |  |  |  |  |  | 45,787 |  |  |  | 199,490 |
Leases expenses for leases of low-value assets |  |  |  |  |  |  | 2,796 |  |  |  | 2,349 |
Variable lease payments |  |  |  |  |  |  | 33,267 |  |  |  | 54,675 |
|  | ￦ |  |  |  |  | 779,886 |  |  |  | 904,780 |
Summary of Profit and Loss Related To Finance Lease |
(2) | Profit and loss related to finance lease for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Finance income on the net investment in the lease |  | ￦ |  |  |  |  | 117,763 |  |  |  | 111,569 |
Summary of Maturity Analysis of Finance Lease Payments Receivable |
(3) | Maturity analysis of the lease payments receivable and reconciliation of the undiscounted lease payments to the net investment in the lease as of December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Less than 1 year |  | ￦ |  |  |  |  | 162,211 |  |  |  | 172,528 |
1 ~ 2 years |  |  |  |  |  |  | 148,485 |  |  |  | 163,937 |
2 ~ 3 years |  |  |  |  |  |  | 144,913 |  |  |  | 158,933 |
3 ~ 4 years |  |  |  |  |  |  | 139,605 |  |  |  | 156,450 |
4 ~ 5 years |  |  |  |  |  |  | 136,962 |  |  |  | 155,068 |
More than 5 years |  |  |  |  |  |  | 1,583,576 |  |  |  | 1,588,403 |
|  |  |  |  |  |  | 2,315,752 |  |  |  | 2,395,319 |
Less : Unearned finance income |  |  |  |  |  |  | (1,192,686 | ) |  |  | (1,194,627 | )
Net investment in the lease(*) |  | ￦ |  |  |  |  | 1,123,066 |  |  |  | 1,200,692 |
| (*) | Including the present value of unguaranteed residual value amounting to ￦16,407 million and ￦19,574 million, as of December 31, 2020 and 2021, respectively.
Summary of Changes in Allowance For Doubtful Accounts of Finance Lease Receivables |
(4) | Changes in the allowance for doubtful accounts of finance lease receivables for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Beginning balance |  | ￦ |  |  |  |  | 862 |  |  |  | 990 |
Bad debt expense |  |  |  |  |  |  | 128 |  |  |  | — |
Reversal of allowance for doubtful accounts |  |  |  |  |  |  | — |  |  |  | (222 | )
Ending balance |  | ￦ |  |  |  |  | 990 |  |  |  | 768 |

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- Definition The disclosure of a maturity analysis of finance lease payments receivable. Finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2021-01-01 -Paragraph 94 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2021-en-r&anchor=para_94&doctype=Standard -URIDate 2021-03-24 + Details
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- Definition The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2021-01-01 -Paragraph 97 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2021-en-r&anchor=para_97&doctype=Standard -URIDate 2021-03-24 + Details
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