Lease Liabilities
The lease liabilities mostly relate to the leasing of office buildings as of December 31, 2025.
The movement in the lease liabilities is as follows:
2025 | 2024 | ||
|---|---|---|---|
Principal recognized at 1 January | 93 | 85 | |
Additions | 27 | 26 | |
Redemptions | (14) | (12) | |
Foreign currency variations | 10 | (6) | |
Other | 0 | 1 | |
Total movements | 22 | 9 | |
Remaining principal at 31 December | 115 | 93 | |
Of which | |||
Current portion | 17 | 11 | |
Non-current portion | 98 | 82 |
The movements in lease liabilities over the period mainly related to an increase due to the lease extensions and new lease office contracts, mainly arising from the new lease agreement for office spaces in India beginning in September 2025 and new lease agreements on apartments in Guyana and foreign currency translations, partially offset by regular redemptions of the existing lease contracts.
The total cash outflow for leases in 2025 was US$17 million, which includes redemptions of principal and interest payments. Total interest paid for the period amounted to US$5 million.