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Accounting for Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2017
Summary of U.S. Dollar Financial Instruments Subject to Foreign Exchange Risk | U.S. dollar financial instruments subject to foreign exchange risk consist of U.S. dollar denominated items held in Canada and are summarized below. This risk is reduced by our policy to apply a hedge against our U.S. dollar net investments using our U.S. dollar debt.
(US$ in millions) |  | December 31, 2017 |  |  | December 31, 2016 |
Cash and cash equivalents |  | $ | 368 |  |  | $ | 521 |
Trade accounts receivable |  |  | 913 |  |  |  | 867 |
Trade accounts payable and other liabilities |  |  | (569 | ) |  |  | (572 | )
Debt |  |  | (4,831 | ) |  |  | (6,141 | )
|  |  | (4,119 | ) |  |  | (5,325 | )
Net investment in foreign operations hedged |  |  | 4,149 |  |  |  | 5,424 |
Net U.S. dollar exposure |  | $ | 30 |  |  | $ | 99 |
Summary of Provisionally Valued Outstanding Receivable And Payable Positions | The table below outlines our outstanding receivable and payable positions, which were provisionally valued at December 31, 2017, and December 31, 2016.
|  | Outstanding at December 31, 2017 |  |  | Outstanding at December 31, 2016 |
(Pounds in millions) |  | Pounds |  |  | US$/lb. |  |  | Pounds |  |  | US$/lb. |
Receivable positions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Copper |  |  | 138 |  |  | $ | 3.26 |  |  |  | 114 |  |  | $ | 2.50 |
Zinc |  |  | 197 |  |  | $ | 1.50 |  |  |  | 231 |  |  | $ | 1.17 |
Lead |  |  | 44 |  |  | $ | 1.13 |  |  |  | 26 |  |  | $ | 0.90 |
Payable positions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Zinc payable |  |  | 97 |  |  | $ | 1.50 |  |  |  | 114 |  |  | $ | 1.17 |
Lead payable |  |  | 30 |  |  | $ | 1.13 |  |  |  | 20 |  |  | $ | 0.90 |
Summary of Fair Value of Commodity Swaps Not Designated as Hedging Instruments | method based on forward metal prices. A summary of these derivative contracts and related fair values as at December 31, 2017 is as follows:
|  | Quantity |  |  | Average Price of Purchase Commitments |  |  | Average Price of Sale Commitments |  |  | Fair Value Asset (CAD$ in millions) |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Zinc swaps |  |  | 175 million lbs. |  |  | US$ | 1.44/lb. |  |  | US$ | 1.47/lb. |  |  | $ | 6 |
Lead swaps |  |  | 68 million lbs. |  |  | US$ | 1.09/lb. |  |  | US$ | 1.09/lb. |  |  |  | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6 |
Summary of Derivatives Not Designated as Hedging Instruments and Embedded Derivatives | Derivatives Not Designated as Hedging Instruments and Embedded Derivatives
(CAD$ in millions) |  | Amount of Gain (Loss) Recognized in Other Operating Income (Expense) |
|  | 2017 |  |  | 2016 |
Zinc derivatives |  | $ | 11 |  |  | $ | 45 |
Lead derivatives |  |  | 10 |  |  |  | (5 | )
Settlements receivable and payable |  |  | 190 |  |  |  | 153 |
Contingent zinc escalation payment embedded derivative (c) |  |  | (24 | ) |  |  | (18 | )
Gold stream embedded derivative (c) |  |  | 13 |  |  |  | 6 |
Silver stream embedded derivative (c) |  |  | 2 |  |  |  | 4 |
|  | $ | 202 |  |  | $ | 185 |
Liquidity risk [member] |
Schedule of Contractual Undiscounted Cash Flow Requirements for Financial Liabilities | Contractual undiscounted cash flow requirements for financial liabilities as at December 31, 2017 are as follows:
(CAD$ in millions) |  | Less Than 1 Year |  |  | 2 — 3 Years |  |  | 4 — 5 Years |  |  | More Than 5 Years |  |  | Total |
Trade accounts payable and other liabilities |  | $ | 2,313 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,313 |
Debt (Note 18(f)) |  |  | 28 |  |  |  | 28 |  |  |  | 1,119 |  |  |  | 4,930 |  |  |  | 6,105 |
Estimated interest payments on debt |  | $ | 346 |  |  | $ | 692 |  |  | $ | 626 |  |  | $ | 3,514 |  |  | $ | 5,178 |
Commodity Price Risk [member] |
Schedule of Contractual Undiscounted Cash Flow Requirements for Financial Liabilities | The following represents the effect on profit attributable to shareholders from a 10% change in commodity prices, based on outstanding receivables and payables subject to final pricing adjustments at December 31, 2017. There is no effect on other comprehensive income.
|  | Price on December 31, |  |  | Change in Profit Attributable to Shareholders |
(CAD$ in millions, except for US$/lb. data) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Copper |  | US$ | 3.26/lb. |  |  | US$ | 2.50/lb. |  |  | $ | 35 |  |  | $ | 24 |
Zinc |  | US$ | 1.50/lb. |  |  | US$ | 1.17/lb. |  |  | $ | 5 |  |  | $ | 5 |

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- Definition The disclosure of information that enables users of financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed. [Refer: Financial instruments, class [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2017-01-01 -Paragraph 31 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=para_31&doctype=Standard -URIDate 2017-03-09 + Details
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