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Lease Liabilities

12 Months Ended

Dec. 31, 2021



26. LEASE LIABILITIES


	2021		2020
Lease Liabilities, Beginning of Year		1,757		1,916
Acquisition (Note 5A)		1,441		—
Additions		110		49
Interest Expense (Note 7)		171		87
Lease Payments		(471)		(284)
Terminations		(1)		(1)
Modifications		22		(2)
Re-measurements		(4)		(2)
Exchange Rate Movements and Other		(10)		(6)
Transfers to Liabilities Related to Assets Held for Sale (Note 16)		(58)		—
Lease Liabilities, End of Year		2,957		1,757
Less: Current Portion		272		184
Long-Term Portion		2,685		1,573

The Company has lease liabilities for contracts related to office space, transportation and storage assets, which includes barges, vessels, pipelines, caverns, railcars and storage tanks, retail assets and other refining and field equipment. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.

The Company has variable lease payments related to property taxes for real estate contracts. Short-term leases are leases with terms of twelve months or less.

The Company has included extension options in the calculation of lease liabilities where the Company has the right to extend a lease term at its discretion and is reasonably certain to exercise the extension option. The Company does not have any significant termination options and the residual amounts are not material.