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Capital management | 12 Months Ended
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Dec. 31, 2020
Disclosure of objectives policies and processes for managing capital abstract |
Capital management | 27. Capital management Cameco’s management considers its capital structure to consist of bank overdrafts, long-term debt, short-term debt (net of cash and cash equivalents and short-term investments), non-controlling interest and shareholders’ equity. Despite the impacts of COVID-19 on the global economy, Cameco’s approach to capital management has remained consistent. Cameco’s capital structure reflects its strategy and the environment in which it operate s. Delivering returns to long-term sha reholders is a top priority. The Company’s objective is to maximize cash flow while maintaining its investme nt grade rating through close capital management of our balance sheet metrics. C apital re sources are managed to allow it to support achievement of its goals while managing financial risks such as the continued weakness in the market, litigation risk and re financing risk. The overall objecti ves for managing capital in 2020 reflect the environment that the Company is operating in, similar to the prior comparative period.
The capital structure at December 31 was as follows: |  |  |  |
|  | 2020 |  | 2019
Long-term debt [note 13] |  | 995,541 |  | 996,718
Cash and cash equivalents |  | (918,382) |  | (1,062,431)
Short-term investments |  | (24,985) |  | -
Net debt |  | 52,174 |  | (65,713)
Non-controlling interest |  | 206 |  | 238
Shareholders' equity |  | 4,958,355 |  | 4,994,725
Total equity |  | 4,958,561 |  | 4,994,963
Total capital | $ | 5,010,735 | $ | 4,929,250
Cameco is bound by certain covenants in its general credit facilities. These covenants place restrictions on total debt, including guarantees and set minimum levels for ne t worth. As of December 31, 2020, Cameco met these requirements.

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- Definition The disclosure of information that enables users of financial statements to evaluate the entity's objectives, policies and processes for managing capital. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 134 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_134&doctype=Standard -URIDate 2020-01-01 + Details
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