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Long-term Debt and Capital Structure (Tables) | 12 Months Ended
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Dec. 31, 2020
Borrowings [Abstract] |
Schedule of Long Term Debt |
As at December 31, |  |  | Notes |  | 2020 |  |  | 2019 |
Revolving Term Debt (1) |  |  | A |  |  | - |  |  |  | 265 |
U.S. Dollar Denominated Unsecured Notes |  |  | B |  |  | 7,510 |  |  |  | 6,492 |
Total Debt Principal |  |  |  |  |  | 7,510 |  |  |  | 6,757 |
Debt Discounts and Transaction Costs |  |  |  |  |  | (69 | ) |  |  | (58 | )
Long-Term Debt |  |  |  |  |  | 7,441 |  |  |  | 6,699 |
(1) | Revolving term debt may include Bankers’ Acceptances, London Interbank Offered Rate based loans, prime rate loans and U.S. base rate loans.
Schedule Remaining Principal Amounts of U.S. Dollar Denominated Unsecured Notes | The remaining principal amounts of the Company’s U.S. dollar denominated unsecured notes are:
| 2020 |  |  | 2019 |
As at December 31, | US$ Principal Amount |  |  | Total C$ Equivalent |  |  | US$ Principal Amount |  |  | Total C$ Equivalent |
3.00% due August 15, 2022 |  | 500 |  |  |  | 637 |  |  |  | 500 |  |  |  | 650 |
3.80% due September 15, 2023 |  | 450 |  |  |  | 573 |  |  |  | 450 |  |  |  | 585 |
5.38% due July 15, 2025 |  | 1,000 |  |  |  | 1,273 |  |  |  | - |  |  |  | - |
4.25% due April 15, 2027 |  | 962 |  |  |  | 1,225 |  |  |  | 962 |  |  |  | 1,249 |
5.25% due June 15, 2037 |  | 583 |  |  |  | 742 |  |  |  | 641 |  |  |  | 833 |
6.75% due November 15, 2039 |  | 1,390 |  |  |  | 1,770 |  |  |  | 1,400 |  |  |  | 1,818 |
4.45% due September 15, 2042 |  | 155 |  |  |  | 198 |  |  |  | 155 |  |  |  | 202 |
5.20% due September 15, 2043 |  | 58 |  |  |  | 74 |  |  |  | 58 |  |  |  | 75 |
5.40% due June 15, 2047 |  | 800 |  |  |  | 1,018 |  |  |  | 832 |  |  |  | 1,080 |
|  | 5,898 |  |  |  | 7,510 |  |  |  | 4,998 |  |  |  | 6,492 |
Schedule of Mandatory Debt Payments |
As at December 31, 2020 | US$ Principal Amount |  |  | Total C$ Equivalent |
2022 |  | 500 |  |  |  | 637 |
2023 |  | 450 |  |  |  | 573 |
2025 |  | 1,000 |  |  |  | 1,273 |
Thereafter |  | 3,948 |  |  |  | 5,027 |
|  | 5,898 |  |  |  | 7,510 |
Summary of Net Debt to Adjusted EBITDA | Net Debt to Adjusted EBITDA (1)
As at December 31, | 2020 |  |  | 2019 |  |  | 2018 |
Short-Term Borrowings |  | 121 |  |  |  | - |  |  |  | - |
Current Portion of Long-Term Debt |  | - |  |  |  | - |  |  |  | 682 |
Long-Term Debt |  | 7,441 |  |  |  | 6,699 |  |  |  | 8,482 |
Less: Cash and Cash Equivalents |  | (378 | ) |  |  | (186 | ) |  |  | (781 | )
Net Debt |  | 7,184 |  |  |  | 6,513 |  |  |  | 8,383 |
Net Earnings (Loss) |  | (2,379 | ) |  |  | 2,194 |  |  |  | (2,669 | )
Add (Deduct): |  |  |  |  |  |  |  |  |  |  |
Finance Costs |  | 536 |  |  |  | 511 |  |  |  | 628 |
Interest Income |  | (9 | ) |  |  | (12 | ) |  |  | (19 | )
Income Tax Expense (Recovery) |  | (851 | ) |  |  | (797 | ) |  |  | (920 | )
Depreciation, Depletion and Amortization |  | 3,464 |  |  |  | 2,249 |  |  |  | 2,131 |
Exploration Expense |  | 91 |  |  |  | 82 |  |  |  | 2,123 |
Unrealized (Gain) Loss on Risk Management |  | 56 |  |  |  | 149 |  |  |  | (1,249 | )
Foreign Exchange (Gain) Loss, Net |  | (181 | ) |  |  | (404 | ) |  |  | 854 |
Re-measurement of Contingent Payment |  | (80 | ) |  |  | 164 |  |  |  | 50 |
(Gain) Loss on Discontinuance |  | - |  |  |  | - |  |  |  | (301 | )
(Gain) Loss on Divestitures of Assets |  | (81 | ) |  |  | (2 | ) |  |  | 795 |
Other (Income) Loss, Net |  | 40 |  |  |  | 9 |  |  |  | 13 |
Adjusted EBITDA |  | 606 |  |  |  | 4,143 |  |  |  | 1,436 |
Net Debt to Adjusted EBITDA | 11.9x |  |  | 1.6x |  |  | 5.8x |
(1) | IFRS 16 was adopted January 1, 2019 using the modified retrospective approach; therefore, comparative information has not been restated.
Summary of Net Debt to Capitalization | Net Debt to Capitalization
As at December 31, | 2020 |  |  | 2019 |  |  | 2018 |
Net Debt |  | 7,184 |  |  |  | 6,513 |  |  |  | 8,383 |
Shareholders’ Equity |  | 16,707 |  |  |  | 19,201 |  |  |  | 17,468 |
|  | 23,891 |  |  |  | 25,714 |  |  |  | 25,851 |
Net Debt to Capitalization | 30% |  |  | 25% |  |  | 32% |

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