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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2020
Financial instruments [Abstract] |
Disclosure of financial assets by categories | Financial assets and liabilities by categories
December 31, 2020 | Amortized cost | FVTPL | FVTOCI | Total
Financial Assets: |  |  |  |
Cash and cash equivalents | $ | 167,113 |  | $ | — |  | $ | — |  | $ | 167,113 |
Trade receivables from provisional concentrates sales (1) | — |  | 35,084 |  | — |  | 35,084 |
Receivable not arising from sale of metal concentrates (1) | 84,486 |  | — |  | — |  | 84,486 |
Short-term investments, equity securities | — |  | 111,946 |  | — |  | 111,946 |
Derivative financial assets | — |  | 7,812 |  | — |  | 7,812 |
| $ | 251,599 |  | $ | 154,842 |  | $ | — |  | $ | 406,441 |
Financial Liabilities: |  |  |  |
Derivative financial liabilities | $ | — |  | $ | 367 |  | $ | — |  | $ | 367 |
(1)Included in Trade and other receivables.
December 31, 2019 | Amortized cost | FVTPL | FVTOCI | Total
Financial Assets: |  |  |  |
Cash and cash equivalents | $ | 120,564 |  | $ | — |  | $ | — |  | $ | 120,564 |
Trade receivables from provisional concentrates sales (1) | — |  | 48,767 |  | — |  | 48,767 |
Receivable not arising from sale of metal concentrates (1) | 116,596 |  | — |  | — |  | 116,596 |
Short-term investments, equity securities | — |  | 117,776 |  | — |  | 117,776 |
Short-term investments, other than equity securities | — |  | — |  | — |  | — |
Derivative financial assets | — |  | 1,272 |  | — |  | 1,272 |
| $ | 237,160 |  | $ | 167,815 |  | $ | — |  | $ | 404,975 |
Financial Liabilities: |  |  |  |
Debt | $ | — |  | $ | 275,000 |  | $ | — |  | $ | 275,000 |
(1)Included in Trade and other receivables.
Disclosure of financial liabilities by categories | Financial assets and liabilities by categories
December 31, 2020 | Amortized cost | FVTPL | FVTOCI | Total
Financial Assets: |  |  |  |
Cash and cash equivalents | $ | 167,113 |  | $ | — |  | $ | — |  | $ | 167,113 |
Trade receivables from provisional concentrates sales (1) | — |  | 35,084 |  | — |  | 35,084 |
Receivable not arising from sale of metal concentrates (1) | 84,486 |  | — |  | — |  | 84,486 |
Short-term investments, equity securities | — |  | 111,946 |  | — |  | 111,946 |
Derivative financial assets | — |  | 7,812 |  | — |  | 7,812 |
| $ | 251,599 |  | $ | 154,842 |  | $ | — |  | $ | 406,441 |
Financial Liabilities: |  |  |  |
Derivative financial liabilities | $ | — |  | $ | 367 |  | $ | — |  | $ | 367 |
(1)Included in Trade and other receivables.
December 31, 2019 | Amortized cost | FVTPL | FVTOCI | Total
Financial Assets: |  |  |  |
Cash and cash equivalents | $ | 120,564 |  | $ | — |  | $ | — |  | $ | 120,564 |
Trade receivables from provisional concentrates sales (1) | — |  | 48,767 |  | — |  | 48,767 |
Receivable not arising from sale of metal concentrates (1) | 116,596 |  | — |  | — |  | 116,596 |
Short-term investments, equity securities | — |  | 117,776 |  | — |  | 117,776 |
Short-term investments, other than equity securities | — |  | — |  | — |  | — |
Derivative financial assets | — |  | 1,272 |  | — |  | 1,272 |
| $ | 237,160 |  | $ | 167,815 |  | $ | — |  | $ | 404,975 |
Financial Liabilities: |  |  |  |
Debt | $ | — |  | $ | 275,000 |  | $ | — |  | $ | 275,000 |
(1)Included in Trade and other receivables.
Disclosure of financial instruments at fair value through profit or loss | The Company’s short-term investments in equity securities are recorded at FVTPL for the year ended December 31, 2020 and 2019. Net gains (losses) on short-term investments recorded at FVTPL were as follows:
| 2020 (1) | 2019 (1)
Unrealized net gains on short-term investments, equity securities | $ | 10,577 |  | $ | 83,705 |
Realized net gains on short-term investments, equity securities | 51,562 |  | — |
| $ | 62,139 |  | $ | 83,705 |
(1)Excludes $0.9 million in income not recorded at FVTPL for the year ended December 31, 2020 (2019 - $1.0 million). The net gains (losses) on derivatives for the year ended December 31, 2020 and 2019 were comprised of the following:
| 2020 | 2019
Gains on foreign currency and commodity contracts: |  |
Realized (losses) gains on foreign currency and commodity contracts | $ | (2,594) |  | $ | 2,669 |
Unrealized gains on foreign currency and commodity contracts | 6,137 |  | 646 |
| $ | 3,543 |  | $ | 3,315 |
Gain (loss) on derivatives: |  |
Gain (loss) on warrants | $ | 38 |  | $ | (14) |
| $ | 38 |  | $ | (14) |
Disclosure of unrealized (losses) gains from short-term investments other than equity securities | The unrealized gains from short-term investments other than equity securities for the year ended December 31, 2020 and 2019 were as follows:
| 2020 | 2019
Reclassification adjustment for realized gains on short-term investments, other than equity securities | — |  | (208) |
Disclosure of assets and liabilities in the fair value hierarchy | The levels in the fair value hierarchy into which the Company’s financial assets and liabilities that are measured and recognized on the Consolidated Statements of Financial Position at fair value on a recurring basis were categorized as follows:
| At December 31, 2020 | At December 31, 2019
| Level 1 | Level 2 | Level 1 | Level 2
Assets and Liabilities: |  |  |  |
Short-term investments | $ | 111,946 |  | $ | — |  | $ | 117,776 |  | $ | — |
Trade receivables from provisional concentrate sales | — |  | 35,084 |  | — |  | 48,767 |
Derivative financial assets | — |  | 7,812 |  | — |  | 1,272 |
Derivative financial liabilities | — |  | (367) |  | — |  | — |
| $ | 111,946 |  | $ | 42,529 |  | $ | 117,776 |  | $ | 50,039 |
Disclosure of credit risk exposure | Cash and cash equivalents, trade accounts receivable and other receivables that represent the maximum credit risk to the Company consist of the following:
| December 31, 2020 | December 31, 2019
Cash and cash equivalents | $ | 167,113 |  | $ | 120,564 |
Trade accounts receivable (1) | 35,084 |  | 66,230 |
Supplier advances | 8,186 |  | 3,391 |
Royalty receivable (1) | — |  | 121 |
Employee loans (1) | 552 |  | 392 |
(1)Included in Trade and other receivables.
Disclosure of maturity analysis for derivative financial liabilities | The following table summarizes the remaining contractual maturities of the Company's financial and non-financial liabilities, shown in contractual undiscounted cash flow:
Payments due by period 2020
| Within 1 year | 2 - 3 years | 4- 5 years | After 5 years | Total
Financial liabilities |  |  |  |  |
Accounts payable and accrued liabilities other than: | $ | 272,266 |  | $ | — |  | $ | — |  | $ | — |  | $ | 272,266 |
Severance accrual | 2,935 |  | 3,711 |  | 1,120 |  | 76 |  | 7,842 |
Employee compensation | 6,737 |  | — |  | — |  | — |  | 6,737 |
Total accounts payable and accrued liabilities | 281,938 |  | 3,711 |  | 1,120 |  | 76 |  | 286,845 |
Income taxes payable | 54,556 |  | — |  | — |  | — |  | 54,556 |
Loss on commodity contracts | 367 |  | — |  | — |  | — |  | 367 |
Debt |  |  |  |  |
Interest & Standby Fees | 2,110 |  | 2,294 |  | — |  | — |  | 4,404 |
Provisions(1)(2) | 3,648 |  | 3,109 |  | 85 |  | 1 |  | 6,843 |
Future employee compensation | 4,396 |  | 11,468 |  | — |  | — |  | 15,864 |
Total contractual obligations(2) | $ | 347,015 |  | $ | 20,582 |  | $ | 1,205 |  | $ | 77 |  | $ | 368,879 |
Payments due by period 2019
| Within 1 year | 2 - 3 years | 4- 5 years | After 5 years | Total
Financial liabilities |  |  |  |  |
Accounts payable and accrued liabilities other than: | $ | 221,488 |  | $ | — |  | $ | — |  | $ | — |  | $ | 221,488 |
Severance accrual | 994 |  | 5,967 |  | 772 |  | 109 |  | 7,842 |
Employee compensation | 2,848 |  | — |  | — |  | — |  | 2,848 |
Total accounts payable and accrued liabilities | 225,330 |  | 5,967 |  | 772 |  | 109 |  | 232,178 |
Income taxes payable | 24,770 |  | — |  | — |  | — |  | 24,770 |
Debt |  |  |  |  |
Credit facility | — |  | — |  | 275,000 |  | — |  | 275,000 |
Interest & Standby Fees | 12,952 |  | 27,040 |  | — |  | — |  | 39,992 |
Provisions(1)(2) | 3,979 |  | 633 |  | 1,350 |  | 967 |  | 6,929 |
Future employee compensation | 1,444 |  | 8,711 |  | — |  | — |  | 10,155 |
Total contractual obligations(2) | $ | 268,475 |  | $ | 42,351 |  | $ | 277,122 |  | $ | 1,076 |  | $ | 589,024 |
(1)Total litigation provision (Note 17). (2)Amounts above do not include payments related to the Company’s anticipated closure and decommissioning obligation (current $8.4 million, long-term $226.7 million) discussed in Note 17 (2019 - current $3.4 million, long-term $185.1 million), the deferred credit arising from the Aquiline acquisition ($20.8 million) (2019 - $20.8 million) discussed in Note 20, and deferred tax liabilities of $175.3 million (2019 - $176.8 million).
Disclosure of exposure to currency risk through financial assets and liabilities | The Company is exposed to currency risk through the following financial assets and liabilities, and deferred income tax assets and liabilities denominated in foreign currencies:
At December 31, 2020 | Cash and short-term investments | Other current and non-current assets | Income taxes receivable (payable), current and non- current | Accounts payable and accrued liabilities and non- current liabilities | Deferred tax assets and liabilities
Canadian Dollar | $ | 117,956 |  | $ | 4,952 |  | $ | 3,537 |  | $ | (24,310) |  | $ | 40,600 |
Mexican Peso | 1,020 |  | 29,895 |  | 3,657 |  | (45,050) |  | (72,552) |
Argentine Peso | 7,175 |  | 16,878 |  | 1,513 |  | (14,543) |  | — |
Bolivian Boliviano | 571 |  | 218 |  | (2,443) |  | (19,402) |  | (7,700) |
European Euro | 3 |  | — |  | — |  | — |  | — |
Peruvian Sol | 13,917 |  | 26,257 |  | (38,507) |  | (54,672) |  | (77,810) |
Guatemala quetzal | 453 |  | 677 |  | — |  | (4,559) |  | 1 |
| $ | 141,095 |  | $ | 78,877 |  | $ | (32,243) |  | $ | (162,536) |  | $ | (117,461) |
At December 31, 2019 | Cash and short-term investments | Other current and non-current assets | Income taxes receivable (payable), current and non- current (1) | Accounts payable and accrued liabilities and non- current liabilities | Deferred tax assets and liabilities
Canadian Dollar | $ | 123,391 |  | $ | 3,897 |  | $ | (769) |  | $ | (23,387) |  | $ | 23,640 |
Mexican Peso | 5,222 |  | 14,215 |  | 6,902 |  | (64,589) |  | (73,938) |
Argentine Peso | 3,652 |  | 18,511 |  | 1,400 |  | (16,143) |  | — |
Bolivian Boliviano | 3,447 |  | 221 |  | (3,135) |  | (8,749) |  | (9,925) |
European Euro | 3 |  | — |  | — |  | — |  | — |
Peruvian Sol | 2,406 |  | 55,851 |  | (12,147) |  | (39,884) |  | (80,138) |
Guatemala quetzal | 353 |  | 1,482 |  | — |  | (669) |  | — |
| $ | 138,474 |  | $ | 94,177 |  | $ | (7,749) |  | $ | (153,421) |  | $ | (140,361) |
(1)Recast comparative to provide consistency with current presentation.

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