IBERSOL | 2019 Annual Report

Consolidated Financial Statements i) not to apply the requirements of the standard to short-term lease contracts (less than 12 months) and to low value lease contracts; ii) not to apply the requirements of the standard to leases whose contract expires within 12 months from the date of initial application; iii) applying a single discount rate to a lease portfolio with reasonably similar cha- racteristics; iv) use of the assessment of whether leases are onerous, under the terms of IAS 37 Provisions, contingent liabilities and contingent assets, carried out immediately before the initial application date, as an alternative to carrying out an impairment analysis; and v) exclusion of the initial direct costs from the initial measurement of the right of use. 210