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Financial instruments and related risk management (Tables)
 12 Months Ended
Dec. 31, 2024
Financial instruments and related risk management [Abstract]  
Pre-tax exposure to foreign currency exchange risk
Carrying value
Currency
(Cdn)
Gain (loss)
Cash and cash equivalents
USD
$
418,968
$
20,948
Accounts receivable
USD
275,123
13,756
Accounts payable and accrued liabilities
USD
(325,504)
(16,275)
Long-term debt
USD
(285,707)
(14,285)
Net foreign currency derivatives
USD
(140,334)
(163,978)
Interest rate risk on variable rate financial instruments
Gain (loss)
Interest rate contracts
$
(759)
Floating rate term loan
(2,629)
Counterparty credit risk, as represented by the carrying amount of the financial assets
2024
2023
Cash and cash equivalents
$
600,462
$
566,809
Accounts receivable [note 7]
318,126
415,561
Derivative assets [note 11]
103
28,467
Exposure to credit risk for trade receivables
Carrying
value
Investment grade credit rating
$
291,492
Non-investment grade credit rating
18,078
Total gross carrying amount
$
309,570
Loss allowance
-
Net
$
309,570
Aged trade receivables
Corporate
Other
customers
customers
Total
Current (not past due)
$
304,684
$
4,036
308,720
1-30 days past due
-
227
227
More than 30 days past due
558
65
623
Total
$
305,242
$
4,328
309,570
Liquidity risk, company's available debt facilities
Outstanding and
Total amount
 
committed
 
Amount available
Unsecured revolving credit facility [note 14]
$
1,000,000
$
-
$
1,000,000
Letter of credit facilities [note 14]
1,890,028
1,527,815
362,213
Maturity analysis of financial liabilities
Due in
Carrying
Contractual
 
less than
Due in 1-3
Due in 3-5
Due after 5
 
amount
 
cash flows
 
1 year
 
years
 
years
 
years
Accounts payable and accrued liabilities
$
619,035
$
619,035
$
619,035
$
-
$
-
$
-
Long-term debt
1,281,290
1,287,680
287,680
400,000
-
600,000
Foreign currency contracts
140,437
140,437
82,570
57,521
346
-
Interest rate contracts
3,172
3,172
1,320
1,852
-
-
Lease obligation
9,839
11,550
2,131
3,545
2,316
3,558
Total contractual repayments
$
2,053,773
$
2,061,874
$
992,736
$
462,918
$
2,662
$
603,558
Due in
 
less than
Due in 1-3
Due in 3-5
Due after 5
Total
 
1 year
 
years
 
years
 
years
Total interest payments on long-term debt
$
304,933
$
58,953
$
83,180
$
59,580
$
103,220
Carrying amounts and accounting classifications
At December 31, 2024
FVTPL
Amortized
cost
Total
Financial assets
Cash and cash equivalents
$
-
$
600,462
$
600,462
Accounts receivable [note 7]
-
346,800
346,800
Derivative assets [note 11]
Foreign currency contracts
103
-
103
$
103
$
947,262
$
947,365
Financial liabilities
Accounts payable and accrued liabilities [note 13]
$
-
$
619,035
$
619,035
Current portion of long-term debt [note 14]
-
285,707
285,707
Lease obligation [note 15]
-
9,839
9,839
Derivative liabilities [note 15]
Foreign currency contracts
140,437
-
140,437
Interest rate contracts
3,172
-
3,172
Long-term debt [note 14]
-
995,583
995,583
143,609
1,910,164
2,053,773
Net
$
(143,506)
$
(962,902)
$
(1,106,408)
At December 31, 2023
FVTPL
Amortized
cost
Total
Financial assets
Cash and cash equivalents
$
-
$
566,809
$
566,809
Accounts receivable [note 7]
-
422,333
422,333
Derivative assets [note 11]
Foreign currency contracts
28,467
-
28,467
$
28,467
$
989,142
$
1,017,609
Financial liabilities
Accounts payable and accrued liabilities [note 13]
$
-
$
577,550
$
577,550
Current portion of long-term debt [note 14]
-
499,821
499,821
Lease obligation [note 15]
-
10,816
10,816
Derivative liabilities [note 15]
Foreign currency contracts
16,525
-
16,525
Interest rate contracts
5,819
-
5,819
Long-term debt [note 14]
-
1,284,353
1,284,353
22,344
2,372,540
2,394,884
Net
$
6,123
$
(1,383,398)
$
(1,377,275)
Carrying amounts and level 2 fair value measurement
As at December 31, 2024
Carrying value
Fair value
Derivative assets [note 11]
Foreign currency contracts
$
103
$
103
Current portion of long-term debt [note 14]
(285,707)
(285,707)
Derivative liabilities [note 15]
Foreign currency contracts
(140,437)
(140,437)
Interest rate contracts
(3,172)
(3,172)
Long-term debt [note 14]
(995,583)
(1,058,055)
Net
 
$
(1,424,796)
$
(1,487,268)
As at December 31, 2023
Carrying value
Fair value
Derivative assets [note 11]
Foreign currency contracts
$
28,467
$
28,467
Current portion of long-term debt [note 14]
(499,821)
(500,000)
Derivative liabilities [note 15]
Foreign currency contracts
(16,525)
(16,525)
Interest rate contracts
(5,819)
(5,819)
Long-term debt [note 14]
(1,284,353)
(1,303,681)
Net
$
(1,778,051)
$
(1,797,558)
Fair value of derivative instruments and classification
2024
2023
Non-hedge derivatives:
Foreign currency contracts
$
(140,334)
$
11,942
Interest rate contracts
(3,172)
(5,819)
Net
$
(143,506)
$
6,123
Classification:
Current portion of long-term receivables, investments and other [note 11]
$
68
$
9,137
Long-term receivables, investments and other [note 11]
35
19,330
Current portion of other liabilities [note 15]
(83,890)
(14,338)
Other liabilities [note 15]
(59,719)
(8,006)
Net
$
(143,506)
$
6,123
Summary of components of non-hedge derivative gains losses
The following table summarizes the different components of the gains (losses) on derivatives included in net earnings:
2024
2023
Non-hedge derivatives:
Foreign currency contracts
$
(182,988)
$
38,975
Interest rate contracts
(115)
(1,184)
Net
$
(183,103)
$
37,791