Leases: Right-of-use assets and lease obligations

12 Months Ended

Jun. 30, 2022

Leases: Right-of-use assets and lease obligations

Leases: Right-of-use assets and lease obligations

8.Leases: Right-of-use assets and lease obligations

The Company’s lease obligations and right-of-use assets are presented below:

	Right-of-use assets
	$
Present value of leases
Opening IFRS 16 value as at July 1, 2020	14,354
Additions	1,904
Addition through business combination (Note 20)	2,584
Terminations	(887)
Balance at June 30, 2021	17,955
Additions	5,536
Addition through business combination (Note 20)	3,277
Terminations	(1,536)
Adjustments due to lease modification	(2,002)
Balance at June 30, 2022	23,230
Accumulated depreciation and repayments
Opening IFRS 16 value as at July 1, 2020	2,482
Depreciation expense	2,513
Terminations	(570)
Balance at June 30, 2021	4,425
Depreciation expense	3,308
Terminations	(1,477)
Balance at June 30, 2022	6,256
Net book value as at:
July 1, 2020	11,872
June 30, 2021	13,530
June 30, 2022	16,974

8.Leases: Right-of-use assets and lease obligations (continued)

	Lease Obligations
	$
Present value of leases
Opening IFRS 16 value as at July 1, 2020	12,198
Additions	1,905
Addition through business combination (Note 20)	2,663
Repayments	(2,605)
Accretion expense	374
Terminations	(292)
Balance at June 30, 2021	14,243
Additions	5,535
Addition through business combination (Note 20)	3,277
Adjustments due to lease modification	(2,107)
Repayments	(3,407)
Accretion expense	442
Effects of movements on exchange rates	6
Balance at June 30, 2022	17,989
Lease Obligations - Current	3,592
Lease Obligations - Non-current	14,397
	17,989

(1) Includes the impact of recognition exemptions including those for short-term and low-dollar value leases; includes the impact of judgment applied with regard to renewal options in the lease terms in which the Company is a lessee.

(2) Right-of-use assets opening balance includes the impact of estimated restoration costs.

(3) Addition through business combination represents the right-of-use asset and leased obligation of the leased office buildings of NetFortris Corporation which was acquired on March 28, 2022 and Star2Star Communications LLC which was acquired on March 31, 2021.

Amounts recognized in consolidated statements of income (loss) and comprehensive income (loss)	2022	2021
	$	$
Depreciation charge on right-of-use assets	3,308	2,513
Interest expense on lease obligations	442	374
Income from sub-leasing right-of-use assets	(80)	(85)
Expenses relating to leases of low-value assets	181	235