Leases (Tables)

12 Months Ended

Dec. 31, 2020

Right-of-use assets

	2020
	Warehouse		Cranes		Courtyards		Major vessel maintenance		Corporate building			Total
Gross carrying amount
Balance 1 January 2020	$	83,968	$	3,112	$	60,035	$	10,834	$	513,735		$	671,684
Additions		216,548		8,610		-		22,135		92,170			339,463
Disposals		12,875		-		-		10,834		513,735	(a)		537,444
Balance at 31 December 2020		287,641		11,722		60,035		22,135		92,170			473,703

Depreciation
Balance 1 January 2020		40,212		2,197		10,794		8,667		49,715			111,585
Disposals		1,884		-		-		10,834		62,146			74,864
Depreciation		44,708		4,960		11,701		6,317		15,064			82,750
Balance 31 December 2020		83,036		7,157		22,495		4,150		2,633			119,471
Carrying amount 31 December 2020	$	204,605	$	4,565	$	37,540	$	17,985	$	89,537		$	354,232

	2019
	Warehouse		Cranes		Courtyards		Major vessel maintenance		Corporate building		Total
Gross carrying amount
Balance 1 January 2019	$	-	$	-	$	-	$	-	$	-	$	-
Additions		83,968		3,112		60,035		10,834		513,735		671,684
Disposals		-		-		-		-		-		-
Balance at 31 December 2019		83,968		3,112		60,035		10,834		513,735		671,684

Depreciation
Balance 1 January 2019		-		-		-		-		-		-
Disposals		-		-		-		-		-		-
Depreciation		40,212		2,197		10,794		8,667		49,715		111,585
Balance 31 December 2019		40,212		2,197		10,794		8,667		49,715		111,585
Carrying amount 31 December 2019	$	43,756	$	915	$	49,241	$	2,167	$	464,020	$	560,099

(a)

It corresponds to the cancellation of the rental agreement of the former corporate headquarters located on Av. De la Cuspide, which generates an effect on profit or loss in the amount of $113,469, which is presented in the caption of other (expenses) income (See note 19). In accordance with the agreement, the Company is bound to pay an amount of 158 thousand dollars monthly for 4 years, which will be conditioned to the rent or sale by the lessor of the real property.

Lease Information

As of December 31, 2020 and December 31, 2019, the information on leases is summarized below:

	2020
	Short-term		Long-term
Payable in Mexican pesos
Warehouse	$	33,916	$	174,894
Cranes		4,272		488
Courtyards		8,260		33,030
Major vessel maintenance		6,490		13,214

Payable in US dollars
Corporate building		5,307		75,642
	$	58,245	$	297,268

	2019
	Short-term		Long-term
Payable in Mexican pesos
Warehouse	$	32,673	$	14,094
Cranes		963		-
Courtyards		10,285		41,248
Major vessel maintenance		2,269		-

Payable in US dollars
Corporate building		14,388		471,439
	$	60,578	$	526,781

Leasing Activities by Type of Right-of-Use Asset

The table below describes the nature of Grupo TMM’s leasing activities by type of right-of-use asset recognized in the consolidated statement of financial position:

Right-of-use asset	No. of right-of-use assets leased		Range of remaining term (years)		No. of leases with extension options		No. of leases with purchase option		No. of leases with variable payments linked to an index		No. of leases with termination options
Corporate headquarters		1		8		-		-		1		-
Warehouse		6		1 - 5		2		-		6		-
Courtyards		5		1 – 6		5		-		5		-
Cranes		1		2		-		-		-		-
Major vessel maintenance		1		4		-		-		-		-

Minimum Future Lease Payments

Future minimum lease payments at 31 December 2020 and 2019 were as follows:

	Within the 1st year			1 to 3 years			3 to 5 years			After 5 years			Total
Balance at December 31, 2020
Lease payments	$	95,914		$	178,415		$	152,179		$	54,620		$	481,128
Financial charges		(37,669	)		(55,149	)		(23,783	)		(9,014	)		(125,615	)
Present values, net	$	58,245		$	123,266		$	128,396		$	45,606		$	355,513

Balance at December 31, 2019
Lease payments	$	121,847		$	185,494		$	198,259		$	427,355		$	932,955
Financial charges		(61,269	)		(108,101	)		(87,429	)		(88,797	)		(345,596	)
Present values, net	$	60,578		$	77,393		$	110,830		$	338,558		$	587,359

Expense Relating to Payments not Included in Measurement of Lease Liability

The expense relating to payments not included in the measurement of the lease liability is as follows:

	2020		2019
Short-term leases (a)	$	307,643	$	296,770
Leases of low-value assets		4,820		3,696
	$	312,463	$	300,466

(a)

Corresponds to the leasing of parcel and bulk carrier vessels.