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

RIGHT-OF-USE ASSETS & LEASE LIABILITIES (Tables)

v3.22.1
RIGHT-OF-USE ASSETS & LEASE LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of quantitative information about right-of-use assets [line items]  
Schedule of Information related to operating and finance leases

Information related to operating and finance leases is as follows:

December 31, 2021

December 31, 2020

 

    

Operating Leases

    

Finance Leases

    

Operating Leases

    

Finance Leases

 

Weighted average discount rate

 

12.66

%  

11.76

%  

11.19

%  

14.85

%

Weighted average remaining lease term

 

14.01 yrs

 

2.81 yrs

 

10.94 yrs

 

4.00 yrs

Schedule of contractual undiscounted cash flows for lease obligations

The maturity of the contractual undiscounted lease liabilities as of December 31, 2021, are as follows:

    

Operating Leases

    

Finance Leases

    

Total

2022

    

$

20,572,720

$

5,301,840

$

25,874,560

2023

 

20,969,868

5,248,585

26,218,453

2024

 

20,501,183

3,755,537

24,256,720

2025

 

19,900,712

316,545

20,217,257

2026

 

19,250,040

40,221

19,290,261

2027 and beyond

189,752,775

189,752,775

Total undiscounted lease liabilities

 

$

290,947,298

$

14,662,728

$

305,610,026

Impact of discounting

(198,984,593)

(2,071,066)

(201,055,659)

Total present value of minimum lease payments

$

91,962,705

$

12,591,662

$

104,554,367

Schedule of payments related to capitalized leases

Payments related to capitalized leases during the years ended December 31, 2021 and 2020, are as follows:

Year Ended

    

December 31, 2021

    

December 31, 2020

Lease liabilities - operating

Lease liabilities - operating expense, COGS

$

4,818,319

$

684,418

Lease liabilities - operating expense, G&A

 

8,517,965

 

2,083,580

Lease liabilities - finance

 

  

 

  

Amortization of right-of-use assets, COGS

 

1,049,787

 

17,040

Amortization of right-of-use assets, G&A

 

76,280

 

Interest on lease liabilities - finance, COGS

 

719,824

 

14,377

Interest on lease liabilities - finance, G&A

 

320,069

 

Total lease expense

$

15,502,244

$

2,799,415