6. Right-of-use assets
Computer Hardware
Buildings
Vehicles
Total
(millions)
Cost Balance, March 31, 2019
$
-
$
-
$
-
$
-
Additions
-
1 3 4
1 9
2
Transfers - IFRS 16 Provision Balance, September 30, 2019
7 7
19 21
10
Accumulated depreciation Balance, March 31, 2019
-
-
-
-
Depreciation
2
-
-
2 3 5
Transfers - IFRS 16 Provision Balance, September 30, 2019
-
1 1
2 2
2
Carrying amounts
Balance, March 31, 2019
$
-
$
-
$
-
$
-
Balance, September 30, 2019
$
5
$
3
$
8
$
16
7. Long-term debt
During the first half of the fiscal year, the Corporation issued $150 million in long-term debt in three increments. The first $50 million was issued at a premium of $3 million with an interest rate of 3.1 per cent and the second $50 million was issued at a premium of $3 million with an interest rate of 3.1 per cent. The third $50 million was issued at a premium of $5 million with an interest rate of 3.0 per cent.
8. Lease liability
Leases are recognized as right-of-use assets and corresponding liabilities at the date at which a leased asset is available for use. Payments for short-term leases and leases of low-value assets are expensed on a straight-line basis and excluded from the lease liability.
As at
As at
September 30,
March 31,
(millions)
2019
2019
Total future minimum lease payments Less: Future finance charges on leases
$
15
$
9
(1)
(1)
Present value of lease liability
14
8
Less: Current portion of lease liability
(6)
(3)
$
8
$
5
As at September 30,
(millions)
2019
Lease liabilities, beginning of period
$
8 7 2
Transitional provision
Net additions
Principal repayment of lease liability
(3)
Lease liabilities, end of period
$
14
24
2019-20 SECOND QUARTER REPORT
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