75
JOTUN A/S
20 CONTRACTUAL OBLIGATIONS AND GUARANTEES
OTHER OBLIGATIONS NOT ACCOUNTED FOR:
(NOK THOUSAND) GUARANTEES
Guarantees for tax withholding 50 000
Letter of Comfort on behalf of subsidiaries 1 546 179
Letter of Comfort on behalf of joint ventures 161 947
Guarantees for subsidiaries 239 378
Sureties for customers etc. and guarantees for Jotun A/S 800
Total 1 998 304
21 LEASES
Leasing commitment shows current and non-current commitments arising from leasing contracts for vehicles and premises. All leasing
contracts included in this note are regarded as operating leases and lease amounts are presented as operating expenses in the income
statement.
(NOK THOUSAND) 2017 2016
OPERATING LEASE EXPENSES
Vehicles 10 112 11 470
Premises and buildings 2 927 3 725
Cost current year 13 039 15 195
OVERVIEW OF FUTURE MINIMUM LEASE PAYMENTS RELATED TO OPERATING LEASES:
Cost next year 13 226 11 993
Cost next 2-5 years 19 503 14 314
Future minimum lease payments 32 729 26 307
Jotun A/S is committed to the lease agreement for four years.