Lease liabilities (Tables)

12 Months Ended

Dec. 31, 2023


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

Summary of lease liabilities and discount rates

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

Summary of lease liabilities activity

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.