Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

4. SIGNIFICANT ACCOUNTING POLICIES: d) Property, plant and equipment (Policies)

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4. SIGNIFICANT ACCOUNTING POLICIES: d) Property, plant and equipment (Policies)
12 Months Ended
Dec. 31, 2020
Policies  
d) Property, plant and equipment

d)Property, plant and equipment 

Property, plant and equipment is recorded at cost less accumulated depreciation and accumulated impairment losses, if any.  Depreciation, based on the estimated useful lives of the assets, is provided using the following methods:

 

Building and improvements

10 - 20 years

Straight-line

Machinery and equipment

4 - 20  years

Straight-line

Right of use assets

lesser of lease term or 2 years

Straight-line

Property, plant and equipment acquired during the period but not placed into use are not depreciated until they are placed into use.

Gains and losses on disposal of property, plant and equipment items are determined by comparing the proceeds from disposal with the carrying amount of property and equipment and are recognized in the consolidated statement of loss and comprehensive loss. The costs of the day-to-day servicing of property, plant and equipment are recognized in consolidated statements of loss as incurred.