NATIXIS -2020 Universal Registration Document

FINANCIAL DATA Consolidated financial statements and notes

Other information Note 14

14.1

Lease contracts where Natixis is the lessee

14.1.1 The net amount of rights-of-userelating to lessee leases amounts to €898 million as of December 31, 2020 (€1,023 million as of December 31, 2019) of which €897 million (€1,011 million as of December 31, 2019) relating to property leases (see Note 7.10) .

Impact on income of leasing transactions as lessee

The lease liabilities in respect of lease contracts as lessee came to €1,011 million (€1,164 million at December 31, 2019) and are recognized under “Other liabilities” (see Note 7.9.2) .

(in millions of euros)

31/12/2019

31/12/2020

(13)

(20)

Interest expenses on lease liabilities

Amortization of rights of use

(194)

(219)

(9)

(9)

Variable lease payments not included in the valuation of lease liabilities

Impact on the income statement of lease agreements recognized in the balance sheet

(216)

(247)

(in millions of euros)

31/12/2019

31/12/2020

Lease expenses on short-term leases Lease expenses on low-value assets

(1) (5) (6)

(2) (3) (5)

Impact on the income statement of lease agreements not recognized in the balance sheet

Lease expenses related to low-value contracts and short-term contracts are recorded under “Expenses from other activitiesin” the consolidated income statement.

5

Income from subleases on right-of-use assets

14.1.2 When Natixis subleases all or part of an asset for which it has taken out a lease, the subleasing contract is subject to a substance-based analysis, similar to the approach taken by the lessors.

Income earned on these contracts is recorded in exactly the same way as it is by the lessor, i.e. under “Income from other activities”, in the case of operating leases (see Note 6.6) , and under “Interest income”, in the case of finance leases (see Note 6.1) .

(in millions of euros)

31/12/2019

31/12/2020

29

30

Sub-lease revenue – operating leases Sub-lease revenue – finance leases

0

0

385

www.natixis.com

NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020