The majority of liabilities from operating leases result from rental of retail and office space. PZU Group has a policy of concluding contracts for a limited period of 3 or 5 years with an option of extension.
Liabilities due to minimum operating lease fees | 31 December 2015 | 31 December 2014 |
---|---|---|
Up to 1 year | 115,739 | 27,795 |
Over 1 year and up to 5 years | 261,708 | 57,573 |
Over 5 years | 25,431 | 7,856 |
Total liabilities due to minimum operating lease fees | 402,878 | 93,224 |