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CAPITAL AND FINANCIAL RISK MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2019
Capital and financial risk management |
Schedule of target total debt to total debt and common shareholders' equity ratio |
|  | December 31, |  | December 31, |
|  | 2019 |  | 2018 |
Long-term debt and credit facilities |  | $ | 1,837.4 |  | $ | 1,735.0 |
Current portion of long-term debt and credit facilities |  |  | — |  |  | — |
Total debt |  | $ | 1,837.4 |  | $ | 1,735.0 |
Common shareholders' equity |  | $ | 5,318.5 |  | $ | 4,506.7 |
Total debt / total debt and common shareholders' equity ratio |  |  | 25.7 | % |  | 27.8 | %
Company target |  |  | 0 – 30 | % |  | 0 – 30 | %
Currency risk |
Capital and financial risk management |
Schedule of risk management |
|  |  |  |  | 10% strengthening in |  | 10% weakening in
|  |  |  |  | U.S. dollar |  | U.S. dollar
|  | Foreign currency net |  | Effect on earnings before |  | Effect on earnings before
|  | working capital |  | taxes, gain (loss)(a) |  | taxes, gain (loss)(a)
Canadian dollar |  | $ | (26.3) |  | $ | 2.4 |  | $ | (2.9)
Brazilian real |  | $ | (91.3) |  | $ | 8.3 |  | $ | (10.1)
Chilean peso |  | $ | (5.0) |  | $ | 0.5 |  | $ | (0.6)
Russian rouble |  | $ | 33.4 |  | $ | (3.0) |  | $ | 3.7
Mauritanian ouguiya |  | $ | (68.1) |  | $ | 6.2 |  | $ | (7.6)
Other(b) |  | $ | 7.0 |  | $ | (0.6) |  | $ | 0.8
| (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 Euro, Ghanaian cedi, British pound, Australian dollar and South African rand.
At December 31, 2019, with other variables unchanged, the following represents the effect of the Company’s foreign currency hedging contracts on OCI before taxes from a 10% change in the exchange rate of the U.S. dollar against the Canadian dollar, Brazilian real and Russian rouble.
|  | 10% strengthening in |  | 10% weakening in
|  | U.S. dollar |  | U.S. dollar
|  | Effect on OCI before |  | Effect on OCI before
|  | taxes, gain (loss)(a) |  | taxes, gain (loss)(a)
Canadian dollar |  | $ | (3.9) |  | $ | 4.8
Brazilian real |  | $ | (10.7) |  | $ | 13.3
Russian rouble |  | $ | (3.2) |  | $ | 6.5
| (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.
Price Risk |
Capital and financial risk management |
Schedule of risk management |
|  | 10% increase in |  | 10% decrease in
|  | price |  | price
|  | Effect on OCI before |  | Effect on OCI before
|  | taxes, gain (loss)(a) |  | 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 risk management |
|  |  |  |  | 2020 |  | 2021-2024 |  | 2025+
|  | Total |  | Within 1 year (b) |  | 2 to 5 years |  | More than 5 years
Long-term debt (a) |  | $ | 2,610.3 |  | $ | 98.5 |  | $ | 1,402.1 |  | $ | 1,109.7
| (a) |  | Includes the full face value of the senior notes , drawdowns on the revolving credit facility, and estimated interest.
| (b) |  | Represents interest on the senior notes and revolving credit facility, due within the next 12 months.

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