Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases1 [Abstract]

Disclosure of quantitative information about right-of-use assets

Changes in the company's right-of-use assets for the year ended December 31 were as follows:

	2020			2019
	Insurance and reinsurance companies(1)	Non-insurance companies	Total	Insurance and reinsurance companies(1)	Non-insurance companies	Total
Balance - January 1	385.4	635.2	1,020.6	418.9	632.5	1,051.4
Additions	81.5	100.6	182.1	59.9	73.2	133.1
Disposals	(3.1)	(19.9)	(23.0)	(8.3)	(1.6)	(9.9)
Depreciation(2)	(68.9)	(118.0)	(186.9)	(69.3)	(109.4)	(178.7)
Acquisitions of subsidiaries (note 23)	—	20.1	20.1	4.4	16.2	20.6
Assets held for sale (note 23)	—	—	—	(22.9)	—	(22.9)
Foreign exchange effect and other(3)	1.2	(6.1)	(4.9)	2.7	24.3	27.0
Balance - December 31 (note 13)	396.1	611.9	1,008.0	385.4	635.2	1,020.6

(1)    Includes the Run-off reporting segment and Corporate and Other.

(2)    Recorded in operating expenses and other expenses in the consolidated statement of earnings.

(3)    Includes non-cash impairment charges of $18.2 (2019 - $0.9), principally related to COVID-19 in the Non-insurance companies reporting segment.

Disclosure of maturity analysis of operating lease payments

The maturity profile of the company’s lease liabilities was as follows:

	December 31, 2020						December 31, 2019
	Insurance and reinsurance companies		Non-insurance companies		Total		Insurance and reinsurance companies		Non-insurance companies		Total
One year or less	78.7		212.9		291.6		78.0		209.4		287.4
One to two years	72.5		179.6		252.1		72.0		193.1		265.1
Two to three years	64.3		152.0		216.3		63.2		163.8		227.0
Three to four years	56.5		128.7		185.2		54.7		136.5		191.2
Four to five years	50.6		110.6		161.2		48.8		115.6		164.4
More than five years	213.4		373.0		586.4		240.8		428.5		669.3
Lease liabilities, undiscounted	536.0		1,156.8		1,692.8		557.5		1,246.9		1,804.4
Lease liabilities, discounted (note 14)	456.8		995.3		1,452.1		434.3		1,062.1		1,496.4
Weighted average incremental borrowing rate	4.2	%	4.5	%	4.4	%	4.6	%	4.6	%	4.6	%

Disclosure of maturity analysis of finance lease payments receivable

The maturity profile of the company’s finance lease receivables was as follows:

	December 31, 2020			December 31, 2019
	Insurance and reinsurance companies	Non-insurance companies	Total	Insurance and reinsurance companies	Non-insurance companies	Total
One year or less	1.8	65.4	67.2	1.7	72.0	73.7
One to two years	1.8	59.3	61.1	1.7	66.9	68.6
Two to three years	1.6	49.6	51.2	1.8	59.3	61.1
Three to four years	0.7	42.0	42.7	1.6	49.6	51.2
Four to five years	0.7	35.6	36.3	0.7	41.4	42.1
More than five years	3.4	90.5	93.9	4.0	130.2	134.2
Finance lease receivables, undiscounted	10.0	342.4	352.4	11.5	419.4	430.9
Unearned finance income	1.5	45.5	47.0	2.7	52.3	55.0
Finance lease receivables (note 13)	8.5	296.9	305.4	8.8	367.1	375.9