Impacts on transition Clause Samples

Impacts on transition. On transition to IFRS 16, the Companies recognized the right of use assets and lease liabilities for the same value with no effect on retained earnings as of January 1, 2019. The impact on transition was: In thousands of U.S. dollars January 1, 2019 Right of use assets 33,352 Lease liabilities under operating contracts 33,352 When measuring lease liabilities for leases that were classified as operating lease expenses, the Companies discounted lease payments using their incremental borrowing rate. The weighted average rates applied by the Companies are from 4.78% to 13.68%.