Other liabilities

12 Months Ended

Dec. 31, 2020

14. Other liabilities



		2020		2019


Deferred sales [note 17]	$	14,382	$	17,418
Derivatives [note 26]		4,733		12,524
Accrued pension and post-retirement benefit liability [note 25]		91,729		80,737
Lease obligation		7,951		12,869
Product loan^(a)		6,045		-
Other		67,838		63,452

		192,678		187,000
Less: current portion		(26,119)		(33,073)

Net	$	166,559	$	153,927

Expenses related to short-term leases and leases of low-value assets were insignificant during 2020.

(a) The Company has standby product loan facilities with various counterparties. The arrangements allow it to borrow up to 2.0 million kgU of UF₆ conversion services and 2.6 million pounds of U₃O₈ over the period 2020 to 2023 with repayment in kind up to December 31, 2023. Under the facilities, standby fees of up to 1% are payable based on the market value of the facilities and interest is payable on the market value of any amounts drawn at rates ranging from 0.5% to 2.0%. During the year, Cameco borrowed 1,213,800 pounds of U₃O₈ and 464,600 kgU of UF₆ conversion services. The U₃O₈ loan was repaid during the year while repayment on the UF₆ loan is due no later than December 31, 2022. The loan is recorded at Cameco’s weighted average cost of inventory.