CERTYNEX IFRS ACADEMY

Cerdagne leases a press for 4 years. The contract provides that each annual payment is due only if the press proves capable of operating during the year; the press is new, maintained by the lessor, and nothing suggests that it might not operate. How should these payments be treated in measuring the lease liability?

Exclude them: their conditional form makes them variable payments not linked to an index.

Include them as in-substance fixed payments, since there is no genuine variability.

Include only the first payment, the following ones remaining uncertain.

Disclose them in the notes without including them in the lease liability.