2022-23 SGI CANADA Annual Report
Lease liabilities
2023
(thousands of $)
2022
Contractual undiscounted cash flows:
One year or less
Between one and five years
$
2,247 $
2,398
5,847
6,969
Greater than five years
1,570
2,695
Total undiscounted lease liabilities
$
9,664 $
12,062
Discounted lease liabilities included in the Consolidated Statement
of Financial Position
$
9,108
$
11,293
Amounts recognized in profit or loss
Interest on lease liabilities
Variable lease payment expenses
Expenses related to low value leases
Amounts recognized in the statement of cash flows
Interest paid on lease liabilities
Lease liability principal payments
Total cash outflow for leases
(thousands of $)
2023
2022
$
+A
213 $
242
2,505
2,212
271
160
$
2,989
$
2,614
(thousands of $)
2023
2022
$
213 $
2,185
242
2,156
$
2,398 $
2,398
The Corporation's leases contain extension options exercisable by the Corporation. Where practicable,
the Corporation seeks to include extension options in new leases to provide operational flexibility. The extension
options held are exercisable only by the Corporation and not by the lessors. The Corporation assesses at lease
commencement date whether it is reasonably certain to exercise extension options. The Corporation reassesses
whether it is reasonably certain to exercise the options if there is a significant event or significant changes in the
circumstances within its control.
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