IBERSOL | 2019 Annual Report

Consolidated Financial Statements The future (contractual) Cash Flows concerning the above stated financial liabilities on 31 December 2019 are broken down as follows: CF 2020 CF 2021 CF 2022 CF 2023 CF 2024 CF 2025/28 Bank loans 23 659 362 8 421 835 3 597 486 3 886 761 391 905 465 379 Commercial paper programmes 19 000 000 20 000 000 24 000 000 7 000 000 7 000 000 - Interest 2 319 628 1 031 237 412 976 140 587 70 000 - 17.2 LEASE LIABILITIES As of December 31, 2019, the company has commitments made to third parties, ari- sing from lease contracts, namely real estate contracts. The breakdown of future pay- ments of lease payments, given their maturity, can be analyzed as follows: CF 2020 CF 2021 CF 2022 CF 2023 CF 2024 CF 2025/39 Leases 53 777 115 48 138 849 45 608 910 45 759 863 40 884 896 105 813 569 53 777 115 286 206 086 Interest 16 176 410 13 775 056 11 420 489 9 102 990 6 836 319 17 980 973 18. INCOMES TAXES AND DEFERRED TAXES 18.1. INCOME TAX 18.1.1 Income tax receivable On 31st December 2019, income tax receivable amounts to 1.502.658 euros (3.574.662 euros in 2018), presented as follows: Dec/2019 Dec/2018 Inverpeninsular Group (1) 58 308 777 951 RETGS (2) 1 340 789 2 727 248 Dehesa (1) 62 437 62 437 Cortsfood 31 870 - Income tax (Restmon) 9 254 7 026 1 502 658 3 574 662 (1) tax amount resulting from the tax group of subsidiaries in Spain. The Dehesa subsidiary, although in 2018 have been acquired their full participation to non-controlling interests, only incorporated the tax group in 2019. (2) income tax that results from the tax group of subsidiaries in Portugal (RETGS), is presented as follows: 270