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CAPITAL AND FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2022

Capital and financial risk management

Schedule of target total debt to total debt and common shareholders' equity ratio

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​	​	​	​	​	​	​	​
​		December 31,			December 31,
​	​	2022		​	2021
Long-term debt and credit facilities	​	$	2,556.9	​	$	1,589.0	​
Current portion of long-term debt and credit facilities	​		36.0	​		40.0	​
Total debt	​	$	2,592.9	​	$	1,629.0	​
Common shareholders’ equity	​	$	5,823.7	​	$	6,580.9	​
Total debt / total debt and common shareholders’ equity ratio	​		30.8	%		19.9	%
Company target	​		0 - 30	%		0 - 30	%

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Currency risk

Capital and financial risk management

Schedule of risk management

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​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	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		$	(30.4)		$	2.8		$	(3.4)
Brazilian real		$	(136.2)		$	12.4		$	(15.1)
Chilean peso		$	14.9		$	(1.4)		$	1.7
Mauritanian ouguiya		$	54.1		$	(4.9)		$	6.0
Other(b)		$	(1.2)		$	0.1		$	(0.1)

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(a) As described in Note 3ii, 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, British pound, and Australian dollar.

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​	​	​	​	​	​	​
​	​	10% strengthening in		​	10% weakening in
​	​	U.S. dollar		​	U.S. dollar
​	​	Effect on OCI before		​	Effect on OCI before
​		taxes, (loss)(a)			taxes, gain(a)
Canadian dollar	​	$	(3.6)	​	$	4.4
Brazilian real	​	$	(4.0)	​	$	4.2
Chilean peso	​	$	(1.4)	​	$	2.4

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(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

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​	​	​	​	​	​	​
​	​	10% increase in		​	10% decrease in
​	​	price		​	price
​	​	Effect on OCI before		​	Effect on OCI before
​		taxes, gain(a)			taxes, (loss)(a)
WTI oil	​	$	4.6	​	$	(4.1)

​

(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.

Liquidity risk

Capital and financial risk management

Schedule of risk management

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2023

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2024-2027

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2028+

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Total

Within 1 year(b)

2 to 5 years

More than 5 years

Debt(a)

​

$

3,360.6

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$

189.4

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$

2,663.4

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$

507.8

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(a) Includes the full face value of the senior notes, term loan, drawdowns on the revolving credit facility, Tasiast loan, and estimated interest.

(b) Represents estimated interest on the senior notes, term loan and revolving credit facility and principal payments and interest on the Tasiast loan, due within the next 12 months.

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