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Leases Obligations
 12 Months Ended
Dec. 31, 2019
Disclosure Of Leases Obligations [Abstract]  
Leases Obligations

 

15.

Leases Obligations

 

 

a.

Lease contracts

 

The Company leased space for its corporate offices and the lease of utility vehicles and operating vehicles, under a lease agreement. The average lease term is from 2 to 4 years in 2019 and there are options to buy the equipment for a nominal amount at the end of the terms of the lease.

 

The obligations of the Company stem from financial leases that are guaranteed by the title of the lessors to the leased assets.

 

 

b.

Liabilities for assets in a lease

 

The amount of liabilities for assets in a lease as of December 31, 2018 were as follows:

 

 

 

Future minimum

lease payments

 

 

Interest

 

 

Present value

of minimum

lease payments

 

Less than one year

 

Ps.

 

17,938

 

 

Ps.

 

(3,428

)

 

Ps.

 

14,510

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than two years

 

Ps.

 

13,460

 

 

Ps.

 

(2,330

)

 

Ps.

 

11,130

 

Less than three years

 

 

 

11,819

 

 

 

 

(1,460

)

 

 

 

10,359

 

Less than four years

 

 

 

11,008

 

 

 

 

(618

)

 

 

 

10,390

 

Five years and over

 

 

 

1,851

 

 

 

 

(41

)

 

 

 

1,810

 

Liabilities for assets in lease long term

 

 

 

38,138

 

 

 

 

(4,449

)

 

 

 

33,689

 

Total liabilities for leased assets

 

Ps.

 

56,076

 

 

Ps.

 

(7,877

)

 

Ps.

 

48,199

 

 

 

 

2018

 

Operating lease commitment as of December 31, 2017

 

Ps.

 

62,948

 

Discount of the present value using the incremental loan rate as of

   January 1,  2018

 

 

 

(4,257

)

Short term leases

 

 

 

(680

)

Liabilities for assets in lease as of January 1, 2018

 

 

 

58,011

 

 

 

 

 

 

 

Acquisitions of assets in lease

 

 

 

5,425

 

Interest paid on leasing

 

 

 

(3,733

)

Payment of lease obligations

 

 

 

(11,504

)

Liabilities for assets in lease

 

Ps.

 

48,199

 

 

 

 

 

Future minimum

lease payments

 

 

Interest

 

 

Present value

of minimum

lease payments

 

Less than one year

 

Ps.

 

15,067

 

 

Ps.

 

(2,490

)

 

Ps.

 

12,577

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than two years

 

Ps.

 

13,445

 

 

Ps.

 

(1,525

)

 

Ps.

 

11,920

 

Less than three years

 

 

 

11,496

 

 

 

 

(612

)

 

 

 

10,884

 

Less than four years

 

 

 

1,850

 

 

 

 

(39

)

 

 

 

1,811

 

Liabilities for assets in lease long term

 

 

 

26,791

 

 

 

 

(2,176

)

 

 

 

24,615

 

Total liabilities for leased assets

 

Ps.

 

41,858

 

 

Ps.

 

(4,666

)

 

Ps.

 

37,192

 

 

 

 

2019

 

Liabilities for assets in lease as of December 31, 2018

 

Ps.

 

48,199

 

Acquisitions of assets in lease

 

 

 

8,957

 

Interest paid on leasing

 

 

 

(3,703

)

Payment of lease obligations

 

 

 

(16,261

)

Liabilities for assets in lease

 

Ps.

 

37,192

 

 

As of December 31, 2018 and 2019 the Company recognized Ps. 13,118 and Ps. 16,261 respectively for the amortization of assets for the rights of use.

 

The interest rates that underlie all obligations under lease agreements are fixed by an average discount interest of 8.23% as of January 1°, 2018, and 8.38% and 7.99% during the year 2018 and 2019. As of December 31, 2018 and 2019, Ps. 3,733 and Ps. 3,703 was recognized as interest on the liability for lease in the consolidated statement of income and other comprehensive income.