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Leases (Tables) | 12 Months Ended
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Dec. 31, 2019
18. Leases |
Lessee, Operating Lease and additional information |
As at |  | December 31
millions of Canadian dollars | Classification |  | 2019
Right-of-use asset | Other long-term assets | $ | 64
Lease liabilities |  |  |
Current | Other current liabilities |  | 5
Long-term | Other long-term liabilities |  | 61
Total lease liabilities |  | $ | 66
Additional information related to Emera's leases is as follows:
| Year ended December 31
For the |  |  |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows for operating leases (millions of Canadian dollars) |  |  | $ | 7
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases (millions of Canadian dollars) |  |  | $ | 16
Weighted average remaining lease term (years) |  |  |  | 39
Weighted average discount rate- operating leases |  |  |  | 4.07%
Future minimum lease payments under non-cancellable operating leases |
Future minimum lease payments under non-cancellable operating leases for each of the next five years and in aggregate thereafter are as follows: |  |
millions of Canadian dollars | 2020 | 2021 | 2022 | 2023 | 2024 |  | Thereafter |  | Total |  |
Minimum lease payments | $ | 8 | $ | 8 | $ | 7 | $ | 6 | $ | 5 | $ | 102 | $ | 136 |  |
Less imputed interest |  |  |  |  |  |  |  |  |  |  |  |  |  | (70) |  |
Total | $ | 8 | $ | 8 | $ | 7 | $ | 6 | $ | 5 | $ | 102 | $ | 66 |  |
Net Investment in direct finance leases |
As at | December 31
millions of Canadian dollars |  | 2019
Total minimum lease payment to be received | $ | 1,066
Less: amounts representing estimated executory costs |  | (189)
Minimum lease payments receivable | $ | 877
Estimated residual value of leased property (unguaranteed) |  | 183
Less: unearned finance lease income |  | (532)
Net investment in direct finance and sales-type leases | $ | 528
Principal due within one year (included in "Receivables and other current assets") |  | 17
Net investment in sales-type leases - long-term (included in "Other long-term assets") |  | 38
Net Investment in direct finance leases - long-term | $ | 473
(1) The net investment in direct finance lease balance as of December 31, 2018, primarily related to New Brunswick Pipeline, consisted of net minimum lease payments receivable of $865 million less an unguaranteed residual value of $183 million and unearned finance income of $564 million.
Future minimum lease payments to be received for the next five years |
As at December 31, 2019, future minimum lease payments to be received for each of the next five years and in aggregate thereafter are as follows:
millions of Canadian dollars | 2020 | 2021 | 2022 | 2023 | 2024 | Thereafter | Total
Minimum lease payments to be received | $ | 76 | $ | 74 | $ | 73 | $ | 73 | $ | 74 | $ | 696 | $ | 1,066
Less: executory costs |  |  |  |  |  |  |  |  |  |  |  |  |  | (189)
Minimum lease payments receivable | $ | 76 | $ | 74 | $ | 73 | $ | 73 | $ | 74 | $ | 696 | $ | 877

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41499-112717 Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118943654&loc=d3e12069-110248 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84164451&loc=d3e36991-112694 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919391-209981 + Details
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