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Commitments | 12 Months Ended
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Dec. 31, 2021
Commitments |
Commitments | 26. Commitments Commitments for expenditures As at December 31, 2021, the Company had committed to, but not yet incurred, $1,138,000 in capital expenditures for property, plant and equipment and intangible assets (December 31, 2020: $751,000). Commitment for inventory purchase The Company was awarded two new contracts with the U.S. Government Defense Logistics Agency (the “DLA”) on April 1, 2021. The new contracts (one for the Eastern portion of the United States and one for the Western portion of the United States) cover both surplus non-rolling and rolling stock. Both contracts commenced on June 1, 2021 and have a base term of two years with three one-year renewal options. ​ During the first two years of the contracts, the Company is committed to purchase on a combined basis up to either: (i) 600,000 assets, or (ii) assets with an expected minimum value of up to $77,000,000; whichever is less. As at December 31, 2021, the Company has purchased 142,396 assets with a total value of $25,548,000 pursuant to the two year period of this contract, which commenced on June 1, 2021. ​ ​

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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