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Lease liabilities

9 Months Ended

Sep. 30, 2024

Lease liabilities.

Lease liabilities

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)

16.Lease liabilities


		September 30,		December 31,
		2024		2023
		$’000		$’000

Non‑current		513,484		510,838
Current		93,699		91,156
Total lease liabilities		607,183		601,994

Lease liabilities represent the net present value of future payments due under long-term land leases for leasehold land on which our towers are located and for other leasehold assets such as warehouses and offices. During the nine month period ended September 30, 2024, payments to the value of $91.0 million were made in respect of recognized lease liabilities. These lease liabilities are unwound using incremental borrowing rates which represent the credit risk of the lessee entity and the length of the lease agreement.

At September 30, 2024, and December 31, 2023, the contractual maturities of the lease liabilities were as follows:

Total

Carrying

contractual

Within

2 ‑ 3

4 ‑ 5

Over 5

value

cash flows

1 year

years

years

years

$’000

$’000

$’000

$’000

$’000

$’000

September 30, 2024

Lease liabilities

607,183

1,216,159

105,208

201,051

186,957

722,943

At December 31, 2023

Lease liabilities

601,994

1,181,459

101,709

193,434

180,895

705,421

Lease obligations contractual cash flows are disclosed with the same renewal expectation assumption assessed for lease accounting under IFRS 16. The average remaining lease term remaining at September 30, 2024, is 12.6 years.