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28. Leases
 12 Months Ended
Dec. 31, 2018
Leases  
Leases
·Lessee

 

The features that these leases have in common are that payments (installments) are established as fixed amounts; there are neither purchase option clauses nor renewal term clauses (except for the lease contract of the Energy Handling and Transformer Center that has an automatic renewal clause for the term thereof); and there are prohibitions such as: transferring or sub-leasing the building, changing its use and/or making any kind of modifications thereto. All operating leases contracts have cancelable terms and assignment periods of 2 to 13 years.

 

Among them the following can be mentioned: commercial offices, two warehouses, the headquarters building (comprised of administration, commercial and technical offices), the Energy Handling and Transformer Center (two buildings and a plot of land located within the perimeter of Central Nuevo Puerto and Puerto Nuevo) and Las Heras substation.

 

As of December 31, 2018 and 2017, future minimum payments with respect to operating assignments of use are as follow: 

 

    12.31.18   12.31.17  
2017                                -                                -  
2018                                -                     124,503  
2019                     155,454                     124,626  
2020                     138,048                       52,194  
2021                     102,515                         4,597  
Total future minimum lease payments                     396,017                     305,920  

 

Total expenses for operating assignments of use for the years ended December 31, 2018, 2017 nad 2016 are as follow: 

 

    12.31.18   12.31.17   12.31.16
Total lease expenses   125,157   126,098   126,193

 

·Lessor

 

The Company has entered into operating leases contracts with certain cable television companies granting them the right to use the poles of the Company’s network. Most of these contracts include automatic renewal clauses.

 

As of December 31, 2018 and 2017, future minimum collections with respect to operating leases are as follow:

 

    12.31.18   12.31.17
2017                                -                                -
2018                                -                     202,143
2019                     173,619                     193,812
Total future minimum lease collections                     173,619                     395,955

  

Total income from operating leases for the years ended December 31, 2018, 2017 and 2016 is as follows:

 

    12.31.18   12.31.17   12.31.16
Total lease income   190,370   212,265   199,431