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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Financial instruments [Abstract] |
Disclosure of financial assets by categories | Financial assets and liabilities by categories:
December 31, 2021 | Amortized cost | FVTPL |  | Total
Financial Assets: |  |  |  |
Cash and cash equivalents | $ | 283,550 |  | $ | — |  |  | $ | 283,550 |
Trade receivables from provisional concentrates sales (1) | — |  | 40,020 |  |  | 40,020 |
Receivable not arising from sale of metal concentrates (1) | 76,902 |  | — |  |  | 76,902 |
Short-term investments | — |  | 51,723 |  |  | 51,723 |
Derivative assets | — |  | 3,995 |  |  | 3,995 |
| $ | 360,452 |  | $ | 95,738 |  |  | $ | 456,190 |
Financial Liabilities: |  |  |  |
Derivative liabilities | $ | — |  | $ | 351 |  |  | $ | 351 |
Debt | $ | 15,300 |  | $ | — |  |  | $ | 15,300 |
(1)Included in Trade and other receivables.
December 31, 2020 | Amortized cost | FVTPL |  | 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 | — |  | 111,946 |  |  | 111,946 |
Derivative assets | — |  | 7,812 |  |  | 7,812 |
| $ | 251,599 |  | $ | 154,842 |  |  | $ | 406,441 |
Financial Liabilities: |  |  |  |
Derivative liabilities | $ | — |  | $ | 367 |  |  | $ | 367 |
(1)Included in Trade and other receivables.
Disclosure of financial liabilities by categories | Financial assets and liabilities by categories:
December 31, 2021 | Amortized cost | FVTPL |  | Total
Financial Assets: |  |  |  |
Cash and cash equivalents | $ | 283,550 |  | $ | — |  |  | $ | 283,550 |
Trade receivables from provisional concentrates sales (1) | — |  | 40,020 |  |  | 40,020 |
Receivable not arising from sale of metal concentrates (1) | 76,902 |  | — |  |  | 76,902 |
Short-term investments | — |  | 51,723 |  |  | 51,723 |
Derivative assets | — |  | 3,995 |  |  | 3,995 |
| $ | 360,452 |  | $ | 95,738 |  |  | $ | 456,190 |
Financial Liabilities: |  |  |  |
Derivative liabilities | $ | — |  | $ | 351 |  |  | $ | 351 |
Debt | $ | 15,300 |  | $ | — |  |  | $ | 15,300 |
(1)Included in Trade and other receivables.
December 31, 2020 | Amortized cost | FVTPL |  | 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 | — |  | 111,946 |  |  | 111,946 |
Derivative assets | — |  | 7,812 |  |  | 7,812 |
| $ | 251,599 |  | $ | 154,842 |  |  | $ | 406,441 |
Financial Liabilities: |  |  |  |
Derivative liabilities | $ | — |  | $ | 367 |  |  | $ | 367 |
(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. The (losses) gains from short-term investments in equity securities for the year ended December 31, 2021 and 2020 were as follows:
| 2021 | 2020
Unrealized (losses) gains on short-term investments, equity securities | $ | (60,355) |  | $ | 10,577 |
Realized gains on short-term investments, equity securities | 633 |  | 51,562 |
| $ | (59,722) |  | $ | 62,139 |
The gains on derivatives for the year ended December 31, 2021 and 2020 were comprised of the following:
| 2021 | 2020
Gains on derivatives |  |
Realized gains (losses) on derivatives | $ | 9,156 |  | $ | (2,594) |
Unrealized (losses) gains on derivatives | (3,763) |  | 6,137 |
| $ | 5,393 |  | $ | 3,543 |
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, 2021 | At December 31, 2020
| Level 1 | Level 2 | Level 1 | Level 2
Assets and Liabilities: |  |  |  |
Short-term investments | $ | 51,723 |  | $ | — |  | $ | 111,946 |  | $ | — |
Trade receivables from provisional concentrate sales | — |  | 40,020 |  | — |  | 35,084 |
Derivative assets | — |  | 3,995 |  | — |  | 7,812 |
Derivative liabilities | — |  | (351) |  | — |  | (367) |
| $ | 51,723 |  | $ | 43,664 |  | $ | 111,946 |  | $ | 42,529 |
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, 2021 | December 31, 2020
Cash and cash equivalents | $ | 283,550 |  | $ | 167,113 |
Trade accounts receivable (1) | 40,020 |  | 35,084 |
Supplier advances (1) | 11,228 |  | 8,186 |
Employee loans (1) | 667 |  | 552 |
(1)Included in Trade and other receivables.
Disclosure of maturity analysis for derivative financial liabilities | The following tables summarize the remaining contractual maturities of the Company's financial liabilities and operating and capital commitments on an undiscounted basis:
Payments due by period 2021
| Within 1 year | 2 - 3 years | 4- 5 years | After 5 years | Total
Accounts payable and accrued liabilities other than: | $ | 275,629 |  | $ | — |  | $ | — |  | $ | — |  | $ | 275,629 |
Severance accrual | 26,695 |  | 404 |  | 33 |  | 4,450 |  | 31,582 |
Employee compensation | 3,763 |  | — |  | — |  | — |  | 3,763 |
Total accounts payable and accrued liabilities | 306,087 |  | 404 |  | 33 |  | 4,450 |  | 310,974 |
Income taxes payable | 59,133 |  | — |  | — |  | — |  | 59,133 |
Loss on derivatives | 351 |  | — |  | — |  | — |  | 351 |
Debt |  |  |  |  |
Repayment of principal | 3,400 |  | 6,800 |  | 5,100 |  | — |  | 15,300 |
Interest and standby fees | 2,613 |  | 4,867 |  | 1,432 |  | — |  | 8,912 |
Provisions (1)(2) | 2,738 |  | 2,553 |  | — |  | — |  | 5,291 |
Future employee compensation | 3,352 |  | 9,058 |  | — |  | — |  | 12,410 |
Total contractual obligations (2) | $ | 377,674 |  | $ | 23,682 |  | $ | 6,565 |  | $ | 4,450 |  | $ | 412,371 |
(1)Total litigation provision (Note 15). (2)Amounts above do not include payments related to closure and decommissioning (current $5.3 million, long-term $237.6 million) discussed in Note 15, the $20.8 million deferred credit arising from the Navidad acquisition discussed in Note 18, and deferred tax liabilities of $184.8 million in Note 27.
Payments due by period 2020
| Within 1 year | 2 - 3 years | 4- 5 years | After 5 years | Total
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 derivatives | 367 | — |  | — |  | — |  | 367 |
Debt |  |  |  |  |
Interest and 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 |
(1)Total litigation provision (Note 15). (2)Amounts above do not include payments related to closure and decommissioning (current $8.4 million, long-term $226.7 million) discussed in Note 15, the $20.8 million deferred credit arising from the Navidad acquisition discussed in Note 18, and deferred tax liabilities of $175.3 million in Note 27.
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, 2021 | 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 | $ | 60,507 |  | $ | 3,389 |  | $ | — |  | $ | (27,448) |  | $ | — |
Mexican Peso | 1,159 |  | 7,681 |  | (14,930) |  | (25,985) |  | (64,584) |
Argentine Peso | 12,488 |  | 20,358 |  | 1,502 |  | (19,525) |  | (13) |
Bolivian Boliviano | 8,397 |  | 499 |  | (7,943) |  | (23,914) |  | (6,954) |
European Euro | 49 |  | — |  | — |  | — |  | — |
Peruvian Sol | 8,585 |  | 17,295 |  | (22,207) |  | (54,953) |  | (94,367) |
Guatemala quetzal | 169 |  | 539 |  | (91) |  | (9,919) |  | — |
| $ | 91,354 |  | $ | 49,761 |  | $ | (43,669) |  | $ | (161,744) |  | $ | (165,918) |
At December 31, 2020 | 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(1)
Canadian Dollar | $ | 117,956 |  | $ | 4,952 |  | $ | — |  | $ | (24,310) |  | $ | — |
Mexican Peso | 1,020 |  | 29,895 |  | 3,550 |  | (45,050) |  | (73,017) |
Argentine Peso | 7,175 |  | 16,878 |  | 1,513 |  | (14,543) |  | — |
Bolivian Boliviano | 571 |  | 218 |  | (3,159) |  | (19,402) |  | (7,700) |
European Euro | 3 |  | — |  | — |  | — |  | — |
Peruvian Sol | 13,917 |  | 26,257 |  | (39,296) |  | (54,672) |  | (77,810) |
Guatemala quetzal | 453 |  | 677 |  | — |  | (4,559) |  | — |
| $ | 141,095 |  | $ | 78,877 |  | $ | (37,392) |  | $ | (162,536) |  | $ | (158,527) |
(1)Recast comparative to be consistent with current presentation.

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