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LEASE OBLIGATIONS

12 Months Ended

Dec. 31, 2020

13— LEASE OBLIGATIONS

13-1 Financing leases

The Company leases certain of its equipment under finance leases. At December 31, 2020, this equipment consists of medical devices for a liability amount of €223 thousand and vehicles and other IT equipment for a liability amount of €676 thousand.

Maturities of finance leases liabilities for the years ending December 31, 2020 are as follows:


		December 31,
		2020
2021		360
2022		280
2023		190
2024		72
2025 and thereafter		28
Total undiscounted minimum lease payments		930
Less: amount representing interest		(33)
Present value of minimum lease payments		899
Less: current portion		(344)
Long-term portion		555


		December 31,
		2019
2020		415
2021		299
2022		221
2023		122
2024 and thereafter		30
Total undiscounted minimum lease payments		1,086
Less: amount representing interest		(41)
Present value of minimum lease payments		1,044
Less: current portion		(392)
Long-term portion		653

Interest paid under finance lease obligations was €33and €29 thousand the years ended December 31, 2020 and 2019 respectively.

The weighted average remaining lease term and the weighted average discount rate for finance leases at December 31, 2020 was: 2.38 years and 3.06% and at December 31, 2019 was: 3.2 years and 2.44%.

13-2 Operating leases

Maturities of operating leases liabilities consist of the following amounts:


		December 31,
		2020
2021		803
2022		523
2023		381
2024		195
2025 and thereafter		—
Total undiscounted minimum lease payments		1,901
Less: current portion		(802)
Long-term portion		1,099


		December 31,
		2019
2020		980
2021		758
2022		474
2023		349
2024 and thereafter		171
Total undiscounted minimum lease payments		2,732
Less: amount representing interest		(48)
Present value of minimum lease payments		2,684
Less: current portion		(958)
Long-term portion		1,726

The weighted average remaining lease term and the weighted average discount rate for operating leases at December 31, 2020 was : 2.80 years and 1.45% and at December 31, 2019 was : 3.51 years and 1.56%.

Total rent expenses under operating leases amounted to €941 thousand, €828 thousand and €1,002 thousand, for the years ended December 31, 2020, 2019 and 2018, respectively. These total rent expenses are related to office rentals, office equipment and car rentals.