6. Right-of-use assets
Computer Hardware
Construction in Progress
Buildings
Vehicles
Total
(millions)
Cost Balance, March 31, 2019
$
-
$
-
$
-
$
-
$
-
Additions
-
-
-
7
7
Transfers - IFRS 16 Provision
7 7
3 3
9 9
(7)
12 19
Balance, June 30, 2019
-
Accumulated depreciation Balance, March 31, 2019
-
-
-
-
-
Depreciation
1
-
-
- - -
1 3 4
Transfers - IFRS 16 Provision
-
1 1
2 2
Balance, June 30, 2019
1
Carrying amounts
Balance, March 31, 2019
$
-
$
-
$
-
$
-
$
-
Balance, June 30, 2019
$
6
$
2
$
7
$
-
$
15
7. Long-term debt
During the quarter, the Corporation issued $100 million in long-term debt in two 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.
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
June 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
Three Months Ended June
(millions)
30, 2019
Lease liabilities, beginning of period
$
8 7
Transitional provision
Principal repayment of lease liability
(1)
Lease liabilities, end of period
$
14
27
2019-20 FIRST QUARTER REPORT
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