Universal Registration Document 2021

Note 24 Lease contracts

/ Analysis of right-of-use assets by category of underlying assets

(in millions of euros)	Real Estate	Outdoor contracts	Other assets	Total
Gross value at January 1, 2021	Gross value at January 1, 2021 Real Estate2,329	Gross value at January 1, 2021 Outdoor contracts60	Gross value at January 1, 2021 Other assets52	Gross value at January 1, 2021 Total2,441
Addition of assets, net ⁽¹⁾	Addition of assets, net ⁽¹⁾Real Estate 68	Addition of assets, net ⁽¹⁾Outdoor contracts 10	Addition of assets, net ⁽¹⁾Other assets 11	Addition of assets, net ⁽¹⁾Total 89
Terminations or end of contracts	Terminations or end of contracts Real Estate (122)	Terminations or end of contracts Outdoor contracts (6)	Terminations or end of contracts Other assets (16)	Terminations or end of contracts Total (144)
Changes to consolidation scope	Changes to consolidation scope Real Estate 1	Changes to consolidation scope Outdoor contracts -	Changes to consolidation scope Other assets -	Changes to consolidation scope Total 1
Translation adjustments and other	Translation adjustments and other Real Estate 146	Translation adjustments and other Outdoor contracts -	Translation adjustments and other Other assets 3	Translation adjustments and other Total 149
Gross value at December 31, 2021	Gross value at December 31, 2021Real Estate2,421	Gross value at December 31, 2021Outdoor contracts64	Gross value at December 31, 2021Other assets50	Gross value at December 31, 2021Total2,535
Accumulated amortization at January 1, 2021	Accumulated amortization at January 1, 2021 Real Estate(728)	Accumulated amortization at January 1, 2021 Outdoor contracts(45)	Accumulated amortization at January 1, 2021 Other assets(23)	Accumulated amortization at January 1, 2021 Total(796)
Amortization	Amortization Real Estate (221)	Amortization Outdoor contracts (9)	Amortization Other assets (22)	Amortization Total (252)
Impairment loss	Impairment loss Real Estate (95)	Impairment loss Outdoor contracts -	Impairment loss Other assets -	Impairment loss Total (95)
Terminations or end of contracts	Terminations or end of contracts Real Estate 122	Terminations or end of contracts Outdoor contracts 6	Terminations or end of contracts Other assets 16	Terminations or end of contracts Total 144
Translation adjustments and other	Translation adjustments and other Real Estate (50)	Translation adjustments and other Outdoor contracts -	Translation adjustments and other Other assets 3	Translation adjustments and other Total (47)
Accumulated depreciation at December 31, 2021	Accumulated depreciation at December 31, 2021Real Estate(972)	Accumulated depreciation at December 31, 2021Outdoor contracts(48)	Accumulated depreciation at December 31, 2021Other assets(26)	Accumulated depreciation at December 31, 2021Total(1,046)
Net value at December 31, 2021	Net value at December 31, 2021Real Estate1,449	Net value at December 31, 2021Outdoor contracts16	Net value at December 31, 2021Other assets24	Net value at December 31, 2021Total1,489

(1) Additions of assets are net of changes in assumptions on contracts.

Expense relating to short-term leases

In the area of outdoor advertising, contracts with a term of less than 12 months have ended at 31 December 2021. The fees corresponding to these contracts have been recorded as expenses in 2021 and represent an amount of euro 98 million.

Interest expense on lease liabilities

For 2021, the interest expense on lease liabilities is euro 70 million (see Note 8). For 2020, the interest expense for lease liabilities was euro 77 million.

Repayment schedule of lease liabilities

/ At December 31, 2021

	Maturities
(in millions of euros)	Total	-1 year	1-2 years	2-3 years	3-4 years	+4 years
Cash outflows relating to lease liabilities	2,576	324	315	283	251	1,403

Repayment schedule of leases which are not recognized in lease liabilities

In the area of outdoor advertising, future cash outflows relating to concession agreements that did not begin until January 2022 but for which the Groupe is committed at December 31, 2021 represent an amount of euro 718 million, including euro 60 million for 2022.