IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 7. RIGHTS OF USE During the periods ended on 31 December 2020 and 2019, rights of use, as well as in the respective accumulated amortizations and impairment losses, were as follows: 1 January 2019 Rights of use Initial net amount 291.085.260 Increases 88.072.137 Decreases -1.467.059 Depreciation in the year -55.878.164 Final net amount 321.812.178 31 December 2019 Cost 384.554.772 Accumulated depreciation -62.742.598 Net amount 321.812.178 The value of the increases corresponds to 29 new contracts under IFRS 16, of which 24 refer to restaurants and 5 to equipment and the review of the estimated lease term of 11 contracts. The amount recognized as decreases relates to 18 contracts termi- nated by restaurant closures. As mentioned in Note 2.9, the impairment of the right to use is analyzed on an aggre- gate bases with each Cash Generating Unit (Note 8). 1 January 2020 Rights of use Initial net amount 321.812.178 Currency conversion -396.773 Increases 21.848.928 Decreases -3.620.317 Transfers -750.910 Depreciation in the year -57.260.518 Final net amount 281.632.588 31 December 2020 Cost 396.423.280 Accumulated depreciation -114.790.692 Net amount 281.632.588 349