XML 38 R16.htm IDEA: XBRL DOCUMENT v3.20.4
Leases
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Leases LeasesThe Company has finance and operating leases for heavy equipment, shop facilities, vehicles and office facilities. These leases have lease terms of one to 15 years, with options to extend on certain leases for terms up to five years.
a) Lease expenses and (income)
Year ended December 31,20202019
Short-term lease expense$14,555 $36,179 
Operating lease expense4,740 4,435 
Operating lease income(8,118)(3,074)
The Company generates operating lease income from the sublease of certain office facilities and heavy equipment rentals.
During the year ended December 31, 2020, depreciation of equipment under finance leases was $17,147 (December 31, 2019 - $26,416).
b) Supplemental balance sheet information
December 31,
2020
December 31, 2019
Net book value of property, plant and equipment under finance leases$115,942$139,140
Weighted-average remaining lease term (in years):
Finance leases3.03.1
Operating leases8.18.3
Weighted-average discount rate:
Finance leases3.66 %3.94 %
Operating leases4.79 %4.80 %
c) Maturity analysis
The future minimum lease payments and receipts from non-cancellable operating leases as at December 31, 2020 for the periods shown are as follows:
PaymentsReceipts
For the year ending December 31,Finance LeasesOperating LeasesOperating leases
2021$28,969 $4,768 $8,179 
202222,735 3,702 7,276 
202313,942 2,413 6,121 
20246,442 1,193 493 
2025 and thereafter1,358 10,160 — 
Total minimum lease payments$73,446 $22,236 $22,069 
Less: amount representing interest(3,974)(4,114)
Carrying amount of minimum lease payments$69,472 $18,122 
Less: current portion of leases(26,895)(4,004)
$42,577 $14,118 
Leases LeasesThe Company has finance and operating leases for heavy equipment, shop facilities, vehicles and office facilities. These leases have lease terms of one to 15 years, with options to extend on certain leases for terms up to five years.
a) Lease expenses and (income)
Year ended December 31,20202019
Short-term lease expense$14,555 $36,179 
Operating lease expense4,740 4,435 
Operating lease income(8,118)(3,074)
The Company generates operating lease income from the sublease of certain office facilities and heavy equipment rentals.
During the year ended December 31, 2020, depreciation of equipment under finance leases was $17,147 (December 31, 2019 - $26,416).
b) Supplemental balance sheet information
December 31,
2020
December 31, 2019
Net book value of property, plant and equipment under finance leases$115,942$139,140
Weighted-average remaining lease term (in years):
Finance leases3.03.1
Operating leases8.18.3
Weighted-average discount rate:
Finance leases3.66 %3.94 %
Operating leases4.79 %4.80 %
c) Maturity analysis
The future minimum lease payments and receipts from non-cancellable operating leases as at December 31, 2020 for the periods shown are as follows:
PaymentsReceipts
For the year ending December 31,Finance LeasesOperating LeasesOperating leases
2021$28,969 $4,768 $8,179 
202222,735 3,702 7,276 
202313,942 2,413 6,121 
20246,442 1,193 493 
2025 and thereafter1,358 10,160 — 
Total minimum lease payments$73,446 $22,236 $22,069 
Less: amount representing interest(3,974)(4,114)
Carrying amount of minimum lease payments$69,472 $18,122 
Less: current portion of leases(26,895)(4,004)
$42,577 $14,118