Note 13 - Lease Liabilities

12 Months Ended

Jul. 31, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

NOTE 13: LEASE LIABILITIES

The Company primarily has operating leases for corporate offices and processing facilities with a remaining term of 1.0 to 21.9 years as at July 31, 2022.  The lease for the processing facilities has an evergreen option that can continue for so long as they are in operation.  Short-term leases, which have an initial term of 12 months or less, are not recorded on our Consolidated Balance Sheets.

During Fiscal 2022, Fiscal 2021 and Fiscal 2020, total lease expenses include the following components:

	Year Ended July 31,
	2022		2021		2022
Operating Leases	$	274	$	220	$	230
Short-term Leases		1,401		607		445
Total Lease Expenses	$	1,675	$	827	$	675

As at July 31, 2022 and 2021, the weighted average remaining lease term was 16.5 and 17.0 years, and the weighted average discount rate was 4.52% and 4.74%, respectively.

During Fiscal 2022, Fiscal 2021, and Fiscal 2020, cash paid for amounts included in the measurement of operating lease liabilities totaled $472, $252 and $176, respectively.

Minimum future lease payments under operating leases with terms longer than one year are as follows:

Fiscal 2023	$	291
Fiscal 2024		113
Fiscal 2025		104
Fiscal 2026		104
Fiscal 2027		69
Thereafter		975
Total lease payments		1,656
Less: imputed interest		(472	)
Present value of lease liabilities	$	1,184
Current portion of lease liabilities	$	244
Non-current portion of lease liabilities	$	940

Current lease liabilities are included in Other Current Liabilities, and non-current liabilities are included in Other Non-Current Liabilities in our Consolidated Balance Sheets.