Note 8 - Lease Liability
|9 Months Ended|
Sep. 30, 2019
|Notes to Financial Statements|
|Lessee, Operating Leases [Text Block]||
Aptose leases office space and lab space in San Diego, California. The lease for the office space expires on
March 31, 2023and can be extended for an additional
5year period. The lease for our lab space expired on
February 18, 2019was renewed until
February 28, 2022.We lease office space in Toronto, Ontario, Canada. The lease for this location expires on
June 30, 2023with an option to renew for another
5-year period. The Company has
notincluded any extension periods in calculating its right-to-use assets and lease liabilities. The Company also enters into leases for small office equipment.
Minimum payments, undiscounted, under our operating leases are as follows:
To calculate the lease liability, the lease payments in the table above were discounted over the remaining term of the leases using the Company’s incremental borrowing rate as at
January 1, 2019for existing leases at the time of adopting the Topic
842,and for new leases after the date adoption, as at the date of the execution date of the new lease. The following table presents the weighted average remaining term of the leases and the weighted average discount rate:
Right-of-use assets obtained in exchange for new operating lease liabilities are as follows:
Operating lease costs and operating cash flows from our operating leases are as follows:
Comparable figures are
notpresented as the Company adopted the new standard using the alternative transition method, which permits a company to use its effective date as the date of initial application without restating comparative period financial statements.
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef