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Equity-accounted investee | 12 Months Ended
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Dec. 31, 2019
Investments accounted for using equity method [Abstract] |
Equity-accounted investee | 11. Equity-accounted investee JV Inkai is the operator of the Inkai uranium deposit located in Kazakhstan. Cameco holds a 40% interest and Kazatomprom holds a 60% interest in JV Inkai. Cameco does not have joint control over the joint venture and a s a result, Cameco accounts f or JV Inkai on an equity basis. JV Inkai is a uranium mining and milling operation that utilizes in-situ recovery (ISR) technology to extract uranium. The participants in JV Inkai purchase uranium from Inkai and, in turn, derive revenue directly from the sale of such product to third-party customers. The following tables summarize the financial information of JV Inkai (100%):
|  | 2019 |  |  | 2018
Cash and cash equivalents | $ | 16,699 |  | $ | 41,717
Other current assets |  | 139,324 |  |  | 160,784
Non-current assets |  | 398,721 |  |  | 407,816
Current liabilities |  | (71,162) |  |  | (151,728)
Non-current liabilities |  | (41,508) |  |  | (41,746)
Net assets | $ | 442,074 |  | $ | 416,843
|  | 2019 |  |  | 2018
Revenue from products and services | $ | 261,860 |  | $ | 203,359
Cost of products and services sold |  | (64,199) |  |  | (52,172)
Depreciation and amortization |  | (27,740) |  |  | (27,504)
Finance income |  | 651 |  |  | 160
Finance costs |  | (2,939) |  |  | (6,251)
Other expense |  | (23,767) |  |  | (30,419)
Income tax expense |  | (30,999) |  |  | (20,860)
Net earnings |  | 112,867 |  |  | 66,313
Other comprehensive loss |  | (1,773) |  |  | -
Total comprehensive income | $ | 111,094 |  | $ | 66,313
The following table reconciles the summarized financial information to the carrying amount of Cameco’s interest in JV Inkai:
|  | 2019 |  |  | 2018
Opening net assets | $ | 416,843 |  | $ | 374,650
Total comprehensive income(a) |  | 111,094 |  |  | 66,313
Dividends declared |  | (66,369) |  |  | -
Impact of foreign exchange |  | (19,494) |  |  | (24,120)
Closing net assets |  | 442,074 |  |  | 416,843
Cameco's share of net assets |  | 176,830 |  |  | 166,737
Consolidating adjustments(b) |  | (30,633) |  |  | (33,978)
Fair value increment(c) |  | 91,697 |  |  | 94,633
Dividends declared but not received |  | 13,859 |  |  | -
Impact of foreign exchange |  | 928 |  |  | 3,110
Carrying amount in the statement of financial position at December 31, 2019 | $ | 252,681 |  | $ | 230,502
(a) Cameco’s share of earnings from equity-accounted investee as reported on the statement of earnings will not equal its share of JV Inkai’s other comprehensive income when Cameco receives dividends from JV Inkai that are not in proportion to its 40% ownership interest. (b) In addition to its proportionate share of earnings from JV Inkai, Cameco records certain consolidating adjustments to eliminate unrealized profit and amortize historical diffe rences in accounting policies. This amount is amortized t o earnings over units of production. (c) Following the restructuring, in addition to the adjustments noted in (b), Cameco also amortize s the fair values assigned to assets and liabilities at the time of the restructuring over units of production.

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- Definition The disclosure of investments accounted for using the equity method. [Refer: Investments accounted for using equity method] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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