XML 90 R30.htm IDEA: XBRL DOCUMENT
v3.8.0.1

INCOME AND MINING TAXES | 12 Months Ended
--- | ---
Dec. 31, 2017
INCOME AND MINING TAXES |
INCOME AND MINING TAXES | 23. INCOME AND MINING TAXES Income and mining taxes expense is made up of the following components:
|  | Year Ended December 31,
|  | 2017 |  | 2016 |
Current income and mining taxes |  | $ | 87,639 |  | $ | 102,028 |
Deferred income and mining taxes: |  |  |  |  |  |  |
| Origination and reversal of temporary differences |  |  | 10,855 |  |  | 7,609 |
Total income and mining taxes expense |  | $ | 98,494 |  | $ | 109,637 |
The income and mining taxes expense is different from the amount that would have been calculated by applying the Canadian statutory income tax rate as a result of the following:
|  | Year Ended December 31,
|  | 2017 |  | 2016 |  |
Combined federal and composite provincial tax rates |  |  | 26% |  |  | 26% |  |
Expected income tax expense at statutory income tax rate |  | $ | 88,677 |  | $ | 69,666 |  |
Increase (decrease) in income and mining taxes resulting from: |  |  |  |  |  |  |  |
| Mining taxes |  |  | 40,886 |  |  | 33,949 |  |
| Tax law changes |  |  | – |  |  | (1,557 | ) |
| Impact of foreign tax rates |  |  | (7,915 | ) |  | (9,370 | ) |
| Permanent differences |  |  | (5,275 | ) |  | 2,387 |  |
| Impact of foreign exchange on deferred income tax balances |  |  | (17,879 | ) |  | 14,562 |  |
Total income and mining taxes expense |  | $ | 98,494 |  | $ | 109,637 |  |
The following table sets out the components of Agnico Eagle's net deferred income and mining tax liabilities:
|  |  | As at December 31, 2017 |  |  | As at December 31, 2016 |  |
Mining properties |  | $ | 1,089,751 |  | $ | 1,046,218 |  |
Net operating and capital loss carry forwards |  |  | (97,946 | ) |  | (80,227 | ) |
Mining taxes |  |  | (75,238 | ) |  | (76,344 | ) |
Reclamation provisions and other liabilities |  |  | (89,226 | ) |  | (70,085 | ) |
Total deferred income and mining tax liabilities |  | $ | 827,341 |  | $ | 819,562 |  |
|  | Year Ended December 31,
|  | 2017 |  | 2016 |
Deferred income and mining tax liabilities – beginning of year |  | $ | 819,562 |  | $ | 802,114 |
Income and mining tax impact recognized in net income |  |  | 10,181 |  |  | 7,888 |
Income tax impact recognized in other comprehensive income (loss) and equity |  |  | (2,402 | ) |  | 4,458 |
Reduction of flow-through share liability |  |  | – |  |  | 5,102 |
Deferred income and mining tax liabilities – end of year |  | $ | 827,341 |  | $ | 819,562 |
The Company operates in different jurisdictions and, accordingly, it is subject to income and other taxes under the various tax regimes in the countries in which it operates. The tax rules and regulations in many countries are highly complex and subject to interpretation. The Company may be subject, in the future, to a review of its historic income and other tax filings and, in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain tax rules and regulations to the Company's business conducted within the country involved. The deductible temporary differences and unused tax losses in respect of which a deferred tax asset has not been recognized in the consolidated balance sheets are as follows:
|  |  | As at December 31, 2017 |  |  | As at December 31, 2016 |
Net capital loss carry forwards |  | $ | 54,503 |  | $ | 34,298 |
Other deductible temporary differences |  |  | 265,919 |  |  | 202,614 |
Unrecognized deductible temporary differences and unused tax losses |  | $ | 320,422 |  | $ | 236,912 |
The Company also has unused tax credits of $12.9 million as at December 31, 2017 (December 31, 2016 – $12.9 million) for which a deferred tax asset has not been recognized. Capital loss carry forwards and other deductible temporary differences have no expiry date while the unused tax credits expire in 2020. The Company has $474.9 million (2016 – $410.5 million) of taxable temporary differences associated with its investments in subsidiaries for which deferred income tax has not been recognized, as the Company is able to control the timing of the reversal of the taxable temporary differences and it is probable that they will not reverse in the foreseeable future. The Company is subject to taxes in Canada, Mexico and Finland, each with varying statutes of limitations. Prior taxation years generally remain subject to examination.

X
- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2017-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=12&date=2017-03-01&anchor=sect_Disclosure&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfIncomeTaxExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration