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Leases (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Leases [Abstract] |
Summary of Right-of-Use-Assets | Precision recognizes right-of-use assets primarily from its leases of real estate and vehicles and equipment.
|  | Real Estate |  |  | Vehicles and Equipment |  |  | Total |
Balance, January 1, 2019 |  | $ | — |  |  | $ | — |  |  | $ | — |
Transition adjustments |  |  | 58,635 |  |  |  | 14,829 |  |  |  | 73,464 |
Additions |  |  | — |  |  |  | 1,947 |  |  |  | 1,947 |
Derecognition |  |  | (29 | ) |  |  | — |  |  |  | (29 | )
Depreciation |  |  | (4,055 | ) |  |  | (4,403 | ) |  |  | (8,458 | )
Lease remeasurements |  |  | 163 |  |  |  | — |  |  |  | 163 |
Effect of foreign currency exchange differences |  |  | (688 | ) |  |  | (257 | ) |  |  | (945 | )
Balance, December 31, 2019 |  | $ | 54,026 |  |  | $ | 12,116 |  |  | $ | 66,142 |
Additions |  |  | 136 |  |  |  | 3,031 |  |  |  | 3,167 |
Derecognition |  |  | — |  |  |  | (2,597 | ) |  |  | (2,597 | )
Depreciation |  |  | (3,900 | ) |  |  | (3,517 | ) |  |  | (7,417 | )
Lease remeasurements |  |  | (6,233 | ) |  |  | 2,602 |  |  |  | (3,631 | )
Effect of foreign currency exchange differences |  |  | (340 | ) |  |  | (156 | ) |  |  | (496 | )
Balance, December 31, 2020 |  | $ | 43,689 |  |  | $ | 11,479 |  |  | $ | 55,168 |
Expected Non-cancellable Undiscounted Operating Lease Payments | Expected non-cancellable undiscounted operating lease payments are as follows:
|  | 2020 |  |  | 2019 |
Less than one year |  | $ | 10,960 |  |  | $ | 11,954 |
One to five years |  |  | 29,630 |  |  |  | 33,566 |
More than five years |  |  | 6,590 |  |  |  | 11,117 |
|  | $ | 47,180 |  |  | $ | 56,637 |
Summary of Maturity Analysis of Lease Payments | The following table sets out a maturity analysis of lease payments, showing the undiscounted lease payments to be received after December 31, 2020.
Less than one year |  | $ | 182,139 |
One to five years |  |  | 102,216 |
|  | $ | 284,355 |
Disclosure of Deferred Base Rent Balance Under Straight-line Amortize Over Lease Term | Precision adopted IFRS 16 on January 1, 2019 using the modified retrospective method of adoption. At the date of initial application, for those leases previously classified as an operating lease under IAS 17, Management elected to recognize and measure the respective right-of-use assets at the amount equal to the lease obligation, adjusted for any prepaid or accrued lease payment immediately before the date of initial application. The opening balance sheet adjustment in relation to these leases was:
|  | January 1, 2019 |
Right-of-use asset |  | $ | 73,464 |
Accounts payable and accrued liabilities |  |  | 2,800 |
Lease obligations |  |  | (73,464 | )
Deficit |  |  | (2,800 | )

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- Definition The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2020-01-01 -Paragraph 97 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2020-en-r&anchor=para_97&doctype=Standard -URIDate 2020-01-01 + Details
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- Definition The disclosure of quantitative information about right-of-use assets. [Refer: Right-of-use assets] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2020-01-01 -Paragraph 53 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2020-en-r&anchor=para_53&doctype=Standard -URIDate 2020-01-01 + Details
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