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Leases | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
Leases | Leases Note 33(a) provides disclosure on the effect of the adoption of IFRS 16.
a) | Right-of-Use Assets
Our significant lease arrangements include contracts for leasing office premises, mining equipment, rail cars, pipelines and road and port facilities. As at December 31, 2019, $762 million of right-of-use assets are recorded as part of land, buildings, plant and equipment within property, plant and equipment.
(CAD$ in millions) |
Net book value as at December 31, 2018 | $ | 504 |
IFRS 16 adoption (Note 33(a)) | 280 |
Additions | 155 |
Depreciation | (145 | )
Changes in foreign exchange rates and other | (32 | )
Closing net book value as at December 31, 2019 | $ | 762 |
b) | Lease Liabilities
Minimum lease payments in respect of lease liabilities and the effect of discounting are as follows:
(CAD$ in millions) |  | December 31, 2019 |
Undiscounted minimum lease payments: |  |
Less than one year |  | $ | 162 |
Two to three years |  | 193 |
Four to five years |  | 109 |
Thereafter |  | 676 |
|  | 1,140 |
Effect of discounting |  | (468 | )
Present value of minimum lease payments - total lease liabilities |  | 672 |
Less current portion |  | (160 | )
Long-term lease liabilities |  | $ | 512 |
Our most significant individual lease arrangements are as follows: Fort Hills entered into a service agreement in 2017 with TC Energy Corp. for the operation of the Northern Courier Pipeline and associated tanks to transport bitumen between Fort Hills and Fort McMurray, Alberta, for a period of 25 years with an option to renew for four additional five-year periods. We have assumed the extensions will be exercised in our determination of the lease liability. As at December 31, 2019, our share of the related lease liability was $203 million. TAK leases road and port facilities from the Alaska Industrial Development and Export Authority, through which it ships all concentrates produced at the Red Dog mine. The lease requires TAK to pay a minimum annual user fee of US$18 million for the next two years and US$6 million for the following 19 years. The lease is also subject to variable lease payments based on tonnage shipped and market prices for zinc over the lease term. As at December 31, 2019, the related lease liability was $119 million (US$92 million). c)Lease Liability Continuity
(CAD$ in millions) |
As at December 31, 2018 | $ | 338 |
IFRS 16 adoption (Note 33(a)) | 342 |
Cash flows |  |
Principal payments | (150 | )
Interest payments | (39 | )
Non-cash changes |  |
Additions | 170 |
Accretion (Note 10) | 39 |
Changes in foreign exchange and other | (28 | )
As at December 31, 2019 | $ | 672 |

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2019-01-01 -Section Presentation -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2019-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2019-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2019-03-27 + Details
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- Definition Leases [Abstract] + References No definition available. + Details
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