XML 37 R19.htm IDEA: XBRL DOCUMENT
v3.20.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
Leases | Leases The Company has office leases in Canada, the United States, Singapore, Ireland and other countries in Europe and Asia. These leases have remaining lease terms of 1 year to 12 years, some of which include options to extend the leases for up to 10 years. Additional office space leases are set to commence between 2021 and 2026, at which point the Company's right-of-use assets and lease liabilities will increase. The Company has entered into various lease agreements for office space that are set to commence after December 31, 2020, which will create significant right-of-use assets and lease liabilities. All of the Company's leases are operating leases. The components of lease expense were as follows:
| Years ended |  |
| December 31, 2020 |  | December 31, 2019 |  |  |  |
| $ |  | $ |  |  |  |
Operating lease expense | 20,488 |  |  | 16,372 |  |  |  |  |
Variable lease expense, including non-lease components | 15,165 |  |  | 12,971 |  |  |  |  |
Total lease expense | 35,653 |  |  | 29,343 |  |  |  |  |
As at December 31, 2020, the weighted average remaining lease term is 9 years and the weighted average discount rate is 4.4% (December 31, 2019 - 9 years and 4.9%, respectively). During the year ended December 31, 2020, in light of the COVID-19 pandemic, the Company decided to move from a primarily physical office-centric work model to a primarily digital work-from-home-centric work model. The Company plans to keep, but repurpose certain office locations to support the new model and terminate or sublet other office locations that it ceases to use. With respect to certain office space the Company has ceased using, for which the lease has been or will be either terminated or sublet, the Company has changed its asset groups, through a change in facts and circumstances, and recorded an impairment charge of $14,785 related to its right-of-use assets in the year ended December 31, 2020. These losses were determined by comparing the asset groups' fair values, made up of the right-of-use assets and leasehold improvements, to their carrying values as of the impairment measurement date, as required under ASC 360, Property, Plant and Equipment. Fair value was determined based on the present value of the estimated future cash flows. These estimates may vary from the actual amounts due to termination or sublease agreements ultimately executed, if at all, which may result in additional charges. These charges were recorded as general and administrative expenses in the consolidated statements of operations and comprehensive income (loss). Maturities of lease liabilities as at December 31, 2020 were as follows:
Fiscal Year | Operating Leases $
2021 | 23,446 |
2022 | 43,257 |
2023 | 43,183 |
2024 | 53,957 |
2025 | 53,535 |
Thereafter | 368,014 |
Total future minimum payments | 585,392 |
Minimum payments related to leases that have not yet commenced | (159,085) |
Minimum payments related to variable lease payments, including non-lease components | (236,607) |
Imputed interest | (34,813) |
Total lease liabilities | 154,887 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration