INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES, GENEVA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Page 37
Public
3.7 Leases
– IFRC as a lessee (continued)
Lease liabilities
Lease liabilities are initially measured as the present value of future lease payments. The IFRC has elected not to measure its
lease liabilities on a discounted basis because the effect of discounting is not material. Lease payments included in the
measurement of the lease liabilities comprise the fixed lease payments less any incentives receivable, variable lease payments
that depend on an index or a rate, amounts expected to be payable by the lessee under residual value guarantees; and exercise
price of purchase options when the exercise of the options is reasonably certain to occur; and any anticipated termination
penalties. The IFRC remeasures the lease liability and makes a corresponding adjustment to the related ROU asset whenever
the lease term has changed.
The lease liabilities recognised in the Consolidated Statement of Financial Position are as follows:
2022
2021
CHF 000s
CHF 000s
Current lease liabilities
2,587
2,258
Non-current lease liabilities
1,088
1,904
3,675
4,162
The table below summarises the maturity profile of the lease liabilities.
2022
2021
CHF 000s
CHF 000s
Less than one year
2,587
2,258
One to two years
1,088
1,115
Two to three years
-
506
Three to four years
-
280
Four to five years
-
3
3,675
4,162
The amounts recognised in the Consolidated Statement of Cash Flows are as follows:
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