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Leases | 12 Months Ended
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Dec. 31, 2021
Leases [abstract] |
Disclosure of leases [text block] | 23 Leases Equinor leases certain assets, notably drilling rigs, transportation vessels, storages and office facilities for operational activities. Equinor is mostly a lessee and the use of leases serves operational purposes rather than as a tool for financing. Certain leases, such as land bases, supply vessels, helicopters and office buildings are entered into by Equinor for subsequent allocation of costs to licences operated by Equinor. These lease liabilities are recognized on a gross basis in the balance sheet, income statement and statement of cash flows when Equinor is considered to have the primary responsibility for the full lease payments. Lease liabilities related to assets dedicated to specific licences, where each licence participants are considered to have the primary responsibility for lease payments, are reflected net of partner share. This would typically involve drilling rigs dedicated to specific licences on the Norwegian continental shelf. Information related to lease payments and lease liabilities (in USD million) 2021 2020 Lease liabilities at 1 January 4,406 4,339 New leases, including remeasurements and cancellations 476 1,349 Gross lease payments (1,350) (1,415) Lease interest 91 102 Lease repayments (1,259) (1,259) (1,313) (1,313) Foreign currency translation effects (61) 31 Lease liabilities at 31 December 3,562 4,406 Current lease liabilities 1,113 1,186 Non-current lease liabilities 2,449 3,220 Lease expenses not included in lease liabilities (in USD million) 2021 2020 Short-term lease expenses 160 342 Payments related to short term leases are mainly related to drilling rigs and transportation vessels, for which a significant portion of the lease costs have been included in the cost of other assets, such as rigs used in exploration or development activities. Variable lease expense and lease expense related to leases of low value assets are not significant. Equinor recognised revenues of USD 272 million in 2021 and USD 252 million in 2020 related to lease costs recovered from licence partners related to lease contracts being recognised gross by Equinor. In addition, Equinor received repayments of USD 4 million in 2021 and USD 29 million in 2020 related to finance subleases. At year-end 2021 and 2020 total finance sublease receivables were USD 104 million and USD 38 million respectively, which are included in the line items Prepayments and financial receivables and Trade and other receivables in the Consolidated balance sheet. Commitments relating to lease contracts which had not yet commenced at year-end are included within Other commitments in note 24 Other commitments, contingent liabilities and contingent assets. A maturity profile based on undiscounted contractual cash flows for lease liabilities is disclosed in note 6 Financial risk and capital management. Non-current lease liabilities maturity profile At 31 December (in USD million) 2021 2020 Year 2 and 3 1,164 1,513 Year 4 and 5 586 748 After 5 years 699 959 Total repayment of non-current lease liabilities 2,449 3,220 Information related to Right of use assets (in USD million) Drilling rigs Vessels Land and buildings Storage facilities Other Total Right of use assets at 1 January 2021 1,004 1,606 1,215 133 161 4,119 Additions, remeasurements, cancellations and divestments 14 300 28 8 78 427 Depreciation and impairment 1) (316) (617) (176) (72) (82) (1,265) Foreign currency translation effects (26) (8) (12) 0 (5) (50) Right of use assets at 31 December 2021 675 1,280 1,055 68 152 3,231 (in USD million) Drilling rigs Vessels Land and buildings Storage facilities Other Total Right of use assets at 1 January 2020 951 1,320 1,365 156 219 4,011 Additions, remeasurements, cancellations and divestments 380 853 18 45 30 1,326 Depreciation and impairment 1) (349) (571) (179) (68) (90) (1,257) Foreign currency translation effects 23 4 11 0 2 40 Right of use assets at 31 December 2020 1,004 1,606 1,215 133 161 4,119 1) USD 320 million in 2021 and USD 359 million in 2020 of the depreciation cost have been allocated to activities being capitalised. See note 11 Property, plant and equipment. The Right of use assets are included within the line item Property, plant and equipment in the Consolidated balance sheet. See also note 11 Property, plant and equipment.

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