| 16.1 | Minimum future payments |
Lease contracts totaled R$7,416 as of September
30, 2022 (R$4,051 as of December 31, 2021). The minimum future payments, according to lease agreements, with the present value of minimum
lease payments, are as follows:
| | |
As of | |
| | |
September 30,
2022 | | |
December 31,
2021 | |
| Lease liabilities - minimum payments | |
| | |
| |
| Less than 1 year | |
| 375 | | |
| 244 | |
| 1 to 5 years | |
| 1,549 | | |
| 1,231 | |
| More than 5 years | |
| 5,492 | | |
| 2,576 | |
| Present value of lease liabilities | |
| 7,416 | | |
| 4,051 | |
| | |
| | | |
| | |
| Current | |
| 375 | | |
| 244 | |
| Non-current | |
| 7,041 | | |
| 3,807 | |
Lease liabilities interest expense is stated
in note 23. The Company’s incremental interest rate at the agreement signing date was 12.01% per year in the nine-month period ended
September 30, 2022 (10.53% as of December 31, 2021).
| 16.2 | Lease liability rollforward |
| | |
Amounts | |
| As of December 31, 2020 | |
| 2,776 | |
| Addition – Lease | |
| 380 | |
| Lease modification | |
| 359 | |
| Interest provision | |
| 216 | |
| Principal amortizations | |
| (311 | ) |
| Interest amortization | |
| (4 | ) |
| Write-off due to early termination of agreement | |
| (102 | ) |
| As of September 30, 2021 | |
| 3,314 | |
| | |
| | |
| As of December 31, 2021 | |
| 4,051 | |
| Addition – Lease | |
| 3,005 | |
| Lease modification | |
| 479 | |
| Interest provision | |
| 547 | |
| Principal amortizations | |
| (625 | ) |
| Interest amortization | |
| (32 | ) |
| Write-off due to early termination of agreement | |
| (9 | ) |
| As of September 30, 2022 | |
| 7,416 | |
| 16.3 | Lease expense on variable rents, low-value, and short-term
assets |
| | |
As of September 30, | |
| | |
2022 | | |
2021 | |
| (Expenses) revenues for the period: | |
| | |
| |
| Variables (1% of sales) | |
| (25 | ) | |
| (5 | ) |
| Subleases (*) | |
| 36 | | |
| 21 | |
(*) Refers mainly to revenue from lease
agreements receivable from commercial galleries.
|