Note 35. Leasing
| Leasing disclosures | ||
| Consolidated | ||
| SEK millions | 2023 | 2022 |
| Lessee |
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| Financial position |
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| Right-of-use assets | 2,456 | 2,529 |
| Lease liabilities | 2,601 | 2,671 |
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| New or adjusted leases | 546 | 513 |
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| Income statement |
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| Depreciation | -504 | -470 |
| Interest cost on lease liabilities | -94 | -87 |
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| Expenses |
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| Expense for not capitalised short-term leases | 80 | 78 |
| Expense for not capitalised leases of low-value assets not included in above line | 4 | 5 |
| Expense for not capitalised leases of low-value assets according to Alfa Laval’s higher materiality thresholds not included in above lines | 12 | 14 |
| Expense for variable lease payments not included in lease liabilities | 9 | 5 |
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| Cash flow |
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| Total cash outflow for all leases, including leases that are not capitalised, excluding non-lease components | 831 | 678 |
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| Lessor |
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| Financial position |
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| Financial lessor receivable | 0 | 1 |
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| Income statement |
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| Finance income | 3 | 5 |
| Income from subleasing | 1 | 0 |
| Income from variable lease payments not included in financial lessor receivable | – | – |
| Lease income from operating leases | 19 | 16 |
| – out of which variable lease payments not dependent on an index or a rate | – | – |
The leasing periods are between 1 and 25 years. The latter figure relates to a very limited number of properties. Normally the maximum leasing period is 10 years for buildings and 3-5 years for all other assets.
The weighted average incremental borrowing rate used to discount the value of the lease liabilities during 2023 is 4.30 (3.77) percent.
| Maturity analysis of lease liabilities and receivables | ||||||
| Consolidated | ||||||
| Lease payments by the lessee | Finance lease payments received | Operating lease payments received by the lessor | ||||
| SEK millions | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
| Maturity in year: |
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| 2023 | N/A | 569 | N/A | 1 | N/A | 0 |
| 2024 | 642 | 512 | – | – | – | 0 |
| 2025 | 545 | 441 | – | – | – | – |
| 2026 | 446 | 353 | – | – | – | – |
| 2027 | 350 | 269 | – | – | – | – |
| 2028 | 262 | N/A | – | N/A | – | N/A |
| Later | 886 | 1,038 | – | – | – | – |
| Total | 3,131 | 3,182 | – | 1 | – | 0 |
| Unearned finance income |
| – | – |
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| Discounted unguaranteed residual value |
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| – | 1 |
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