Lease liabilities

12 Months Ended

Dec. 31, 2023

20. LEASE LIABILITIES


	2023				2022				2021
	Non-current		Current		Non-current		Current		Non-current		Current
Lease liabilities		325		341		272		294		276		266

These liabilities are discounted at the following rates:


Lease term	2023		Effective average monthly rate used		2022		Effective average monthly rate used		2021		Effective average monthly rate used
0 to 1 year		87		1.55%		39		1.07%		32		0.80%
1 to 2 years		142		1.17%		198		1.54%		116		1.03%
2 to 3 years		210		1.02%		144		1.23%		150		1.15%
3 to 4 years		46		0.97%		81		1.28%		109		1.25%
4 to 5 years		118		0.90%		43		0.95%		42		0.96%
5 to 9 years		38		0.81%		45		0.79%		86		0.89%
More than 9 years		25		0.75%		16		0.82%		7		0.80%

		666				566				542

Financial expenses accrued as of year ended December 31, 2023, 2022 and 2021, resulting from lease contracts, amount to 77, 75 and 57, respectively. From this accreation, 64, 61 and 46 were included in the “Financial accretion” line in financial costs of the “Net financial results” item in the statement of comprehensive income and 13, 14 and 11 were capitalized in the “Property, plant and equipment” item in the statement of financial position, for the years ended December 31, 2023, 2022 and 2021, respectively.

As of December 31, 2023, maturities of liabilities related to lease contracts are exposed on Note 4.

The evolution of the Group’s leases liabilities for the fiscal year ended December 31, 2023, 2022 and 2021 is as follows:


	2023		2022		2021
Balance at the beginning of the year		566		542		551
Leases increases		404		306		284
Financial accretions		77		75		57
Leases decreases		(23)		(15)		(46)
Payments		(359)		(341)		(302)
Net exchange and translation differences		-		(2)		(1)
Result from net monetary position (1)		1		1		(1)

Balance at the end of year		666		566		542

(1)

Includes the adjustment for inflation of opening balances of lease liabilities of subsidiaries with the peso as functional currency, which was charged to “Other comprehensive income” in the statement of comprehensive income and the adjustment for inflation of the fiscal year, which was charged to net income in the statement of comprehensive income.

Total charges recorded in net income in the statement of comprehensive income for the fiscal year and total capitalizations for short-term leases, low-value leases and variable lease payments related to the underlying asset performance and/or use, amounted to 242, 238 and 115 as of December 31, 2023, 2022 and 2021, respectively.