288 O N E R E P O R T 2 0 2 2 OVERVIEW BUSINESS OVERVIEW AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL INFORMATION SUSTAINABLE BUSINESS DEVELOPMENT (Unit: Baht Thousand) (Unit: Baht Thousand) Consolidated financial statements 2022 2021 Balance as at 1 January 37,475,179 30,700,584 Increase from new lease agreements during the year 2,972,216 1,220,165 Increase from lease remeasurements 682,628 3,728,108 Repayments for liabilities under lease agreements during the year (5,447,100) (2,242,397) Payments for early termination of lease agreements (2,562,841) (923,564) Reduction in lease payments by lessors resulting from the COVID-19 situation - (20,599) Accretion of interest 1,815,354 1,124,133 Impact of exchange rate difference 1,521,022 3,888,749 Balance as at 31 December 36,456,458 37,475,179 Consolidated financial statements Compensations on employees’ retirement Other long-term employee benefits Total 2022 2021 2022 2021 2022 2021 Provision for long-term employee benefits at beginning of year 655,934 712,745 126,505 136,584 782,439 849,329 Included in profit or loss: Current service costs 99,712 114,977 28,292 31,842 128,004 146,819 Interest costs 14,297 9,571 2,603 1,642 16,900 11,213 Actuarial (gain) loss arising from - Demographic assumptions change - - 5,730 - 5,730 - - Financial assumptions changes - - (4,281) - (4,281) - - Experience adjustments - - (29,322) - (29,322) - Movements of liabilities under lease agreements account during the year ended 31 December 2022 and 2021 are summarised below. During the year, the subsidiary early terminated 4 aircraft lease agreements (2021: 2 aircraft) for the purpose of entering into the aircraft sale and leaseback transactions as discussed in Note 11. During the year, the subsidiary terminated lease agreements on 6 aircraft (2021: 2 aircraft), of which certificates of aircraft registration granted by the Civil Aviation Authority of Thailand were revoked on the same date. Furthermore, the subsidiary elected to adopt the practical expedient relating to COVID-19-related rent concessions. The practical expedient permits a lessee not to assess whether rent concessions are lease modifications. The subsidiary applies the practical expedient to all concessions that meet all of the conditions, i.e., the change in lease payments results in a revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease preceding the change; any reduction in lease payments affects only payments originally due on or before 30 June 2022; and there is no substantive change to other terms and conditions of the lease. The effects of the application of this expedient, due to resulting changes in payments under leases are recognised in profit or loss for the year ended 31 December 2022, amounting to Baht 11 million (2021: Baht 16 million). 23. Provision for long-term employee benefits Provision for long-term employee benefits, which represents compensation payable to employees after they retire, was as follows.
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