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CAPITAL AND FINANCIAL RISK MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2017
Capital and financial risk management |
Schedule of target total debt to total debt and common shareholders' equity ratio |
|  | December 31, |  | December 31, |
|  | 2017 |  | 2016 |
Long-term debt |  | $ | 1,732.6 |  | $ | 1,733.2 |
Current portion of long-term debt |  | — |  | — |
Total debt |  | 1,732.6 |  | 1,733.2 |
Common shareholders’ equity |  | 4,583.6 |  | 4,145.5 |
Total debt / total debt and common shareholders’ equity ratio |  | 27.4 | % | 29.5 | %
Company target |  | 0 — 30 | % | 0 — 30 | %
Currency risk |
Capital and financial risk management |
Schedule of risk management |
|  |  |  | 10% strengthening in U.S. dollar |  | 10% weakening in U.S. dollar |
|  | Foreign currency net working capital |  | Effect on earnings before taxes, gain (loss) (a) |  | Effect on earnings before taxes, gain (loss) (a) |
Canadian dollars |  | (24.5 | ) | 2.2 |  | (2.7 | )
Brazilian reais |  | (37.2 | ) | 3.4 |  | (4.1 | )
Chilean pesos |  | (15.5 | ) | 1.4 |  | (1.7 | )
Russian roubles |  | 14.9 |  | (1.4 | ) | 1.7 |
Euros |  | (3.1 | ) | 0.3 |  | (0.3 | )
Mauritanian ouguiya |  | (21.8 | ) | 2.0 |  | (2.4 | )
Ghanaian cedi |  | 12.9 |  | (1.2 | ) | 1.4 |
Other (b) |  | (0.8 | ) | 0.1 |  | (0.1 | )
| (a) |  | As described in Note 3 (ii), the Company translates its monetary assets and liabilities into U.S. dollars at the rates of exchange at the consolidated balance sheet dates. Gains and losses on translation of foreign currencies are included in earnings.
| (b) |  | Includes British pounds, Australian dollars and South African rand.
|  | 10% strengthening in U.S. dollar |  | 10% weakening in U.S. dollar |
|  | Effect on OCI before taxes, gain (loss) (a) |  | Effect on OCI before taxes, gain (loss) (a) |
Canadian dollars |  | $ | (5.6 | ) | $ | 6.8 |
Brazilian reais |  | $ | (12.5 | ) | $ | 15.6 |
Russian roubles |  | $ | (1.1 | ) | $ | 2.2 |
| (a) |  | Upon maturity of these contracts, the amounts in OCI before taxes will reverse against hedged items that the contracts relate to, which may be to earnings or property, plant and equipment.
Energy price risk |
Capital and financial risk management |
Schedule of risk management | At December 31, 2017, with other variables unchanged, the following represents the effect of the Company’s energy swap contracts on OCI before taxes from a 10% change in WTI oil prices.
|  | 10% increase in price |  | 10% decrease in price |
|  | Effect on OCI before taxes, gain (loss) (a) |  | Effect on OCI before taxes, gain (loss) (a) |
WTI oil |  | $ | 9.0 |  | $ | (8.9 | )
| (a) |  | Upon maturity of these contracts, the amounts in OCI before taxes will reverse against hedged items that the contracts relate to, which will be to earnings.
Liquidity risk |
Capital and financial risk management |
Schedule of contractual cash flow requirements for financial liabilities | The contractual cash flow requirements for financial liabilities at December 31, 2017 are as follows:
|  |  |  | 2018 |  | 2019, 2020 |  | 2021, 2022 |  | 2023+ |
|  | Total |  | Within 1 year |  | 2 to 3 years |  | 4 to 5 years |  | More than 5 years |
Long-term debt (a) |  | $ | 2,684.0 |  | $ | 95.6 |  | $ | 190.2 |  | $ | 664.5 |  | $ | 1,733.7 |
| (a) |  | Includes long-term debt, interest and the full face value of the senior notes.

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