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Lease Assets and Lease Liabilities
 12 Months Ended
Dec. 31, 2019
Disclosure of quantitative information about leases for lessee [abstract]  
Lease Assets and Lease Liabilities
12. Lease Assets and Lease Liabilities
   
Lease assets
  
 
Lease
Liabilities
 
   
 
Building
  
Other
  
Total
    
    
$
  
$
  
$
  
$
 
January 1, 2019
  
 
556.6
 
 
 
5.2
 
 
 
561.8
 
 
 
                (645.0
) 
Additions
  
 
63.9
 
 
 
1.6
 
 
 
65.5
 
 
 
(64.0
) 
Acquisitions
  
 
19.3
 
 
 
0.1
 
 
 
19.4
 
 
 
(19.1
) 
Depreciation
  
 
                (113.2
) 
 
 
                (2.6
) 
 
 
              (115.8
) 
 
 
-
 
Modifications
  
 
42.6
 
 
 
-
 
 
 
42.6
 
 
 
(42.7
) 
Impairment
  
 
(2.0
) 
 
 
-
 
 
 
(2.0
) 
 
 
-
 
Accretion of interest
  
 
-
 
 
 
-
 
 
 
-
 
 
 
(32.3
) 
Payments, net of receipts
  
 
-
 
 
 
-
 
 
 
-
 
 
 
98.6
 
Foreign exchange
  
 
(12.8
) 
 
 
(0.2
) 
 
 
(13.0
) 
 
 
15.6
 
December 31, 2019
  
 
554.4
 
 
 
4.1
 
 
 
558.5
 
 
 
(688.9
) 
Less current portion
  
 
-
 
 
 
-
 
 
 
-
 
 
 
99.9
 
Long-term portion
  
 
554.4
 
 
 
4.1
 
 
 
558.5
 
 
 
(589.0
) 
The Company has leases mainly for buildings, vehicles, and office equipment.
At December 31, 2019, lease liabilities of $688.9 were discounted using the Company’s incremental borrowing rate and had a weighted-average rate of 4.43%. Future undiscounted cash outflows for lease liabilities are disclosed in note 25.
 
Amounts recognized in administrative and marketing expenses
  
For the year ended
 
   
December 31
 
   
2019
 
    
$
 
Rent expense - variable lease payments
   48.7 
Rent expense - short-term leases and leases of
low-value
assets
   10.0 
Income from subleases
   (5.1) 
Total
  
 
53.6
 
Variable lease payments include operating expenses, real estate taxes, insurance, and other variable costs. Future undiscounted cash flows for short-term leases, leases of
low-value
assets, variable lease payments, and sublease payments receivable are disclosed in note 21.
 
Amounts recognized in the consolidated statement of cash flows
  
For the year ended
 
   
December 31
 
   
2019
 
    
$
 
Cash payments for the interest portion of lease liabilities
  
 
32.3
 
Cash payments for leases not included in the measurement of lease liabilities
  
 
53.6
 
Cash outflow in operating activities
  
 
85.9
 
Cash payments for the principal portion of lease liabilities
  
 
116.7
 
Proceeds from lease incentives
  
 
(50.4
) 
Cash outflow in financing activities
  
 
66.3
 
Total cash outflow for leases
  
 
152.2
 
 
The Company leases buildings for its office spaces across the globe. Lease terms typically range from one to sixteen years and had a weighted average remaining lease term of 7.7 years. To provide operational flexibility, the Company seeks to include extension or termination options in new leases.
The Company leases vehicle and office equipment with terms typically ranging from three to five years and had a weighted average remaining lease term of 2.2 years. These leases do not usually contain extension options, purchase options, or residual value guarantees.
The Company also leases IT equipment and other equipment with terms typically ranging from one to five years. These leases are generally short-term or for
low-value
assets that the Company has elected not to recognize in lease assets and lease liabilities.