10) LEASES AND SIMILAR ARRANGEMENTS
a) Finance leases
The Atento Group holds the following assets under finance leases:
| Thousands of U.S. dollars | |||
| Net carrying amount of asset | |||
| 2016 | 2017 | ||
| Finance leases | |||
| Plant and machinery | 2,386 | 1,847 | |
| Furniture, tools and other tangible assets | 1,422 | 6,619 | |
| Software | - | 6,796 | |
| Total | 3,808 | 15,262 | |
On April 25, 2017, Atento Brasil S.A. entered in a sale leaseback with HP Financial Services Arrendamento Mercantil S.A. in an amount of 23,615 thousand Brazilian Reais, equivalent to 7,139 thousand U.S. dollars as of December 31, 2017, which will be repaid in 36 monthly installments.
On July 24, 2017, Atento Brasil S.A. entered in a new sale leaseback with HP Financial Services Arrendamento Mercantil S.A. in an amount of 4,220 thousand Brazilian Reais, equivalent to 1,276 thousand U.S. dollars as of December 31, 2017, which will be repaid in 60 monthly installments.
On August 24, 2017, Atento Brasil S.A. entered in a new sale leaseback with HP Financial Services Arrendamento Mercantil S.A. in an amount of 4,570 thousand Brazilian Reais, equivalent to 1,381 thousand U.S. dollars as of December 31, 2017, which will be repaid in 60 monthly installments.
The assets acquired under finance leases are located in Brazil, Colombia and Peru. The present value of future finance lease payments is as follow:
| Thousands of U.S. dollars | |||
| 2016 | 2017 | ||
| Up to 1 year (Note 17) | 2,205 | 4,260 | |
| Between 1 and 5 years (Note 17) | 1,431 | 6,238 | |
| Total | 3,636 | 10,498 | |