Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Lease obligation

v3.19.1
Lease obligation
12 Months Ended
Dec. 31, 2018
Disclosure of finance lease and operating lease by lessee [abstract]  
Lease obligation
8 Lease obligation

 

  Amount  
  $  
 
Balance – December 31, 2017  
 
Leases recognized upon transition to IFRS 16 87  
 
Additions 1,291  
 
Repayment of lease obligation (74 )
 
Accreted interest 94  
 
Balance – December 31, 2018 1,398  
 
Less: Current portion (90 )
 
Non-current portion 1,308  

The Corporation recognizes a right-of-use asset and lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the liability, discounted at an incremental borrowing rate of 11%, adjusted for any payments made before the commencement date, plus any initial direct costs, less any lease incentives received. During the nine months ended December 31, 2018, the Corporation recognized $1,417 (2017 - $nil) in right-of-use assets in property, plant and equipment on the statements of financial position.