Investor Presentaiton
Adoption of IFRS 16 - Leases
15
UNI-SELECT®
On January 1, 2019, the Corporation applied, for the first time, IFRS 16 - Leases using the modified retrospective transition
approach and did not restate comparative amounts of the year prior to its adoption as permitted.
As a result, starting January 1, 2019, consolidated financial statements present significant variances when compared to prior
periods. Consolidated statement of earnings, starting on January 1, 2019, include reduced rent expenses from the
elimination of the classification as operating leases, higher finance costs from the interest expense on lease obligations and
higher depreciation of right-of-use assets.
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