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Note 9 - Leases
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Lessee, Leases [Text Block]
9.
Leases
 
The Company enters into premise leases and equipment leases as a lessee.
 
(a)
Premise leases
The Company leases office space where the remaining lease term ranges from less than
one
year to
fifteen
years. Leases generally include an initial contract term but some leases include an option to renew the lease for an additional period at the end of this initial term. These renewal periods range in length up to a period equivalent to the initial term of the lease. All of the Company's premise leases are classified as operating leases.
 
(b)
Equipment leases
The Company leases certain equipment in its operations, including furniture and equipment, computer equipment and vehicles. Equipment leases
may
consist of operating leases or finance leases based upon the assessment of the facts at the commencement date of the lease. The remaining lease terms for equipment leases range from
one
year to
five
years. Certain leases
may
have the option to extend the leases for a short period or to purchase the asset at the end of the lease term.
 
The components of lease expense were as follows:
 
     
Year ended December 31,
  
      2020       2019  
                 
Operating lease cost   $
82,643
     $
77,394
  
Finance lease cost                
Amortization of right-of-use assets    
898
      
920
  
Interest on lease liabilities    
17
      
19
  
Variable lease cost    
25,297
      
26,030
  
Short term lease cost    
3,662
      
4,712
  
                 
Total lease expense   $
112,517
     $
109,075
  
                 
Sublease revenues    
(2,844
 )    
(3,124
 )
Total lease cost, net of sublease revenues   $
109,673
     $
105,951
  
 
Supplemental information related to leases was as follows:
 
     
Year ended December 31,
  
      2020       2019  
                 
Operating leases recognized on transition to ASC 842   $
-
     $
274,696
  
Right-of-use assets obtained in exchange for new operating lease obligations    
91,575
      
36,945
  
Right-of-use assets obtained in exchange for new finance lease obligations    
2,160
      
400
  
                 
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases   $
(83,351
 )   $
(79,764
 )
Operating cash flows from finance leases    
(17
 )    
(19
 )
Financing cash flows from finance leases    
(884
 )    
(874
 )
                 
 
Supplemental balance sheet information related to leases was as follows:
 
     
As at December 31,
  
      2020       2019  
                 
Operating leases                
Operating lease right-of-use assets   $
288,134
     $
263,639
  
Operating lease liabilities - current   $
(78,923
 )   $
(69,866
 )
Operating lease liabilities - non-current    
(251,680
 )    
(229,224
 )
Total operating lease liabilities   $
(330,603
 )   $
(299,090
 )
                 
Finance leases                
Fixed assets, gross   $
4,662
     $
3,164
  
Accumulated depreciation    
(2,327
 )    
(2,320
 )
Fixed assets, net   $
2,335
     $
844
  
                 
Long-term debt - current   $
(1,113
 )   $
(550
 )
Long-term debt - non-current    
(1,316
 )    
(303
 )
Total finance lease liabilities   $
(2,429
 )   $
(853
 )
 
Maturities of lease liabilities were as follows:
 
     
One
year
      
Two
years
      
Three
years
      
Four
years
      
Five
years
      
Thereafter
      
Total
  
                                                         
Operating leases   $
87,112
     $
74,269
     $
59,617
     $
46,302
     $
33,393
     $
60,239
     $
360,932
  
                                                         
Present value of operating lease liabilities    
 
      
 
      
 
      
 
      
 
      
 
      
330,603
  
Difference between undiscounted cash flows and discounted cash flows    
 
      
 
      
 
      
 
      
 
      
 
     $
30,329
  
                                                         
Finance leases   $
1,115
     $
855
     $
470
     $
9
     $
-
     $
-
     $
2,449
  
                                                         
Present value of finance lease liabilities    
 
      
 
      
 
      
 
      
 
      
 
      
2,429
  
Difference between undiscounted cash flows and discounted cash flows    
 
      
 
      
 
      
 
      
 
      
 
     $
20
  
 
     
As at December 31,
  
      2020  
         
Weighted average remaining lease term        
Operating leases (years)    
5.4
  
Finance leases (years)    
2.0
  
         
Weighted average discount rate        
Operating leases    
3.1
 %
Finance leases    
1.5
 %
 
As of
December 31, 2020,
the Company has additional operating leases, primarily for premises, that have
not
yet commenced of
$150,692.
These operating leases will commence within the next year and have lease terms ranging from
one
to
fifteen
years.