Page 79 - JTC-Annual Report-2025-Eng

JTC Logistics Transportation & Stevedoring Company K.S.C.P
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2025
(All amounts are in Kuwaiti Dinars)

7. RIGHT-OF-USE ASSETS

The Group leases several assets including lands and buildings used in operations. The average
lease term is ranging from 1 to 3 years, with expiry ranging from March 31, 2026, to November 30,
2028, and renewable. The leases in which the Group is the lessee do not contain any variable lease
payment terms.
Set out below are the carrying amounts of right-of-use assets recognized and the movement
during the year:

Lands Buildings Total
Gross carrying amount:

As at December 31, 2024 292,481 4,047,431 4,339,912

Additions (Note 11) 24,393 415,858 440,251
Modifications to right-of-use assets - 464 464

Early termination of right-of-use assets
(Note 19) - (17,853) (17,853)

Foreign currency translation adjustments (213) (2,045) (2,258)
As at December 31, 2025 316,661 4,443,855 4,760,516

Accumulated amortization:

As at December 31, 2024 193,789 2,960,988 3,154,777
Charge for the year (Note 17) 47,594 625,466 673,060

Related to early termination of right-of-use
assets (Note 19) - (12,518) (12,518)
Foreign currency translation adjustments 448 353 801

As at December 31, 2025 241,831 3,574,289 3,816,120

Net carrying amount:
As at December 31, 2025 74,830 869,566 944,396

As at December 31, 2024 98,692 1,086,443 1,185,135

76 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.