Long-term Debt and Capital Structure (Tables)

12 Months Ended

Dec. 31, 2020

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.

The remaining principal amounts of the Company’s U.S. dollar denominated unsecured notes are:

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.

Net Debt to Capitalization