NetLease - Weighted Average Rate Summary

Important Note:

This report is based on the leases in the system at the time this report is run. For proper financial reporting, make sure this report is run for each reporting period before processing any journals for the next period. (e.g. run this report for 12/31/21 before processing any January or February 2022 lease journals).

Overview

This search provides a summary calculation of weighted average rate which are required footnote disclosure items (valid for single currencies only).

Quantitative Disclosure Guidance

Below is the lease quantitative disclosure guidance

ASC 842-20-50-4 For each period presented in the financial statements, a lessee shall disclose the following amounts relating to a lessee’s total lease cost, which includes both amounts recognized in profit or loss during the period and any amounts capitalized as part of the cost of another asset in accordance with other Topics, and the cash flows arising from lease transactions:

a. Finance lease cost, segregated between the amortization of the right-of-use assets and interest on the lease liabilities.

b. Operating lease cost determined in accordance with paragraphs 842-20-25-6(a) and 842-20-25-7.

c. Short-term lease cost, excluding expenses relating to leases with a lease term of one month or less, determined in accordance with paragraph 842-20-25-2.

d. Variable lease cost determined in accordance with paragraphs 842-20-25-5(b) and 842-20-25- 6(b).

e. Sublease income, disclosed on a gross basis, separate from the finance or operating lease expense.

f. Net gain or loss recognized from sale and leaseback transactions in accordance with paragraph 842-40-25-4.

g. Amounts segregated between those for finance and operating leases for the following items:

Cash paid for amounts included in the measurement of lease liabilities, segregated between operating and financing cash flows
Supplemental noncash information on lease liabilities arising from obtaining right-of-use assets
Weighted-average remaining lease term Presentation and disclosure 9-9
Weighted-average discount rate.

Below is the lease quantitative disclosure guidance

Below is an example of a Weighted Average Rate Summary in Financial Statements. The search within NetLease is meant to satisfy the disclosure.

How To

Navigation:

NetLease > Reports > Disclosure Reports > Weighted Average Rate Summary > Run

Filtering:

The search can be narrowed down by adjusting the filters for period, lease classification, subsidiary, and/or lease type. The report will automatically update as filtering options are selected.

Required

Filter by the last full month being reported on (i.e. Year End 2022 Disclosure you would filter by 12/1/2022 to 12/31/2022).

Results

Upon running the schedule the user will see a the weighted payment value and the weighted average discount rate for all the company's lease classifications. Click on each individual lease classification hyperlink to see all leases within that lease classification.

Troubleshooting

This report does not work for lease of multiple currencies and the weighted average rate detail report must be used and exported to excel.

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