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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | Leases In 2019 we adopted IFRS 16 with an effective date of January 1, 2019, using a cumulative catch-up approach where we recorded leases from that date forward and did not restate comparative information. We recorded certain right-of-use assets at an amount equal to the carrying amount as if IFRS 16 had been applied since the commencement date and the remaining right-of-use assets at an amount equal to the lease liability. The net of tax difference between right-of-use assets and lease liabilities recognized on transition was a retained earnings adjustment on January 1, 2019. a) Right-of-Use Assets Our significant lease arrangements include contracts for leasing office premises, mining equipment, railcars, pipelines and road and port facilities. As at December 31, 2020, $730 million (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) | 2020 | 2019
Opening net book value | $ | 762 |  | $ | 784 |
Additions | 312 |  | 155 |
Depreciation | (166) |  | (145) |
Changes in foreign exchange rates and other | (178) |  | (32) |
Closing net book value | $ | 730 |  | $ | 762 |
b) Significant Individual Lease Arrangements 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, 2020, our share of the related lease liability was $199 million (2019 – $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$7 million for the next year and US$6 million for the following 18 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, 2020, the related lease liability was $99 million (2019 – $119 million). c) Lease Liability Continuity
(CAD$ in millions) | 2020 | 2019
As at January 1 | $ | 672 |  | $ | 680 |
Cash flows |  |
Principal payments | (163) |  | (150) |
Interest payments | (37) |  | (39) |
Non-cash changes |  |
Additions | 319 |  | 170 |
Interest expense (Note 10) | 37 |  | 39 |
Changes in foreign exchange and other | (136) |  | (28) |
As at December 31 | $ | 692 |  | $ | 672 |
Less current portion | (119) |  | (160) |
Long-term lease liabilities | $ | 573 |  | $ | 512 |

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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 2020-01-01 -Section Presentation -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2020-01-01 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2020-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2020-01-01 + Details
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- Definition Leases [Abstract] + References No definition available. + Details
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