Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 587

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 587
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905 | 1,324 |

During the year, Barclays had a lease modification for property "New York, 745 7th Avenue" wherein there is an extension of lease term

b y ~ 91years , resulting in increase in the above stated undiscounted lease liabilities.

In addition to the cash flows identified above, the Group is exposed to:

▪ Variable lease payments: This variability will typically arise from either inflation index instruments or market-based pricing

adjustments. Currently, Barclays has 238 ( 2023 : 517 ) leases out of the total 631 ( 2023 : 756 ) leases which have variable lease payment

terms based on market-based pricing adjustments. Of the gross cash flows identified above £ 4,634m ( 2023 : £ 1,062m ) is attributable

to leases with some degree of variability predominantly linked to market-based pricing adjustments.

▪ Extension and termination options: The table above represents Barclays' best estimate of future cash outflows for leases, including

assumptions regarding the exercising of contractual extension and termination options. The above gross cash flows have been

reduced by £ 10m ( 2023 : £ 441m ) for leases where Barclays is highly expected to exercise an early termination option. The above

gross cash flows have been increased by £ 3,581m , of which £ 1,872m ( 2023 : nil ) for leases where Barclays is expected to exercise an

extension option.

In 2024 , the Group does not have any sale and leaseback transaction (2023: nil ).

The Group does not have any restrictions or covenants imposed by the lessor on its property leases which restrict its businesses.

| Strategy                                       | Shareholderinformation | Climate andsustainability report | Governance | Riskreview | Financialreview |     | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 407 |
| Notes to the financial statements (continued)  |                        |                                  |            |            |                 |     |                     |     |                                            |     |
| Assets at amortised cost and other investments |                        |                                  |            |            |                 |     |                     |     |                                            |     |

21 Goodwill and intangible assets

Accounting for goodwill and intangible assets

Goodwill

Goodwill arising on the acquisition of subsidiaries represents the excess of the fair value of the purchase consideration over the fair

value of the Group’s share of the assets acquired