Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 586

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 586
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 other premises under non-cancellable lease arrangements to meet its operational

business requirements. In some instances, Barclays will sublease property to third parties when it is no longer needed to meet business

requirements. Currently, Barclays does not have any material subleasing arrangements.

ROU asset balances relate to property leases only. Refer to Note 19 for the carrying amount of ROU assets.

The total expenses recognised during the year for short-term leases were £ 1m ( 2023 : £ 2m ). The portfolio of short-term leases to

which Barclays is exposed at the end of the year is not dissimilar to the expenses recognised in the year.

| Lease liabilities               |       |       |
|                                 |  2024 |  2023 |
|                                 |    £m |    £m |
| As at 1 January                 |   971 | 1,216 |
| Interest expense                |    71 |    54 |
| New leases                      |    45 |    19 |
| Disposals                       |   -18 |   -11 |
| Cash payments1                  |  -204 |  -406 |
| Exchange and other movements2   |   340 |    99 |
| As at 31 December (see Note 22) | 1,205 |   971 |

Notes:

1 Cash payments in 2023 include a one time lease liability payment of £ 182m related to structural cost action in relation to the real estate review.

2 Exchange and other movements include modification related to a lease extended by ~ 91years .

The table below sets out a maturity analysis of undiscounted lease liabilities, showing the lease payments after the reporting date.

| Undiscounted lease liabilities maturity analysis       |       |       |
|                                                        |  2024 |  2023 |
|                                                        |    £m |    £m |
| Not more than one year                                 |   195 |   174 |
| One to two years                                       |   173 |   169 |
| Two to three years                                     |   149 |   144 |
| Three to four years                                    |   126 |   120 |
| Four to five years                                     |   113 |    97 |
| Five to ten years                                      |   395 |   338 |
| Greater than ten years                                 | 3,754 |   282 |
| Total undiscounted lease liabilities as at 31 December | 4,