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Financial Instruments and Financial Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2019
Disclosure of risk management strategy related to hedge accounting [abstract] |
Schedules of Risks Arising from Financial Instruments | The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2019, and December 31, 2018.
|  | Outstanding at December 31, 2019 |  |  | Outstanding at December 31, 2018 |
(Pounds in millions) |  | Pounds |  |  | US$/lb. |  |  | Pounds |  |  | US$/lb. |
Receivable positions |  |  |  |  |  |  |  |
Copper |  | 65 |  |  | $ | 2.80 |  |  | 93 |  |  | $ | 2.70 |
Zinc |  | 239 |  |  | $ | 1.04 |  |  | 208 |  |  | $ | 1.12 |
Lead |  | 74 |  |  | $ | 0.87 |  |  | 24 |  |  | $ | 0.91 |
Payable positions |  |  |  |  |  |  |  |
Zinc payable |  | 79 |  |  | $ | 1.04 |  |  | 77 |  |  | $ | 1.12 |
Lead payable |  | 10 |  |  | $ | 0.87 |  |  | 16 |  |  | $ | 0.91 |
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, 2019 |  |  | December 31, 2018 |
Cash and cash equivalents |  | $ | 85 |  |  | $ | 907 |
Trade and settlement receivables |  | 505 |  |  | 640 |
Trade accounts payable and other liabilities |  | (459 | ) |  | (421 | )
Debt |  | (3,209 | ) |  | (3,809 | )
|  | (3,078 | ) |  | (2,683 | )
Net investment in foreign operations hedged |  | 2,969 |  |  | 2,628 |
Net U.S. dollar exposure |  | $ | (109 | ) |  | $ | (55 | )
Schedule of Maturity Analysis for Non-Derivative Financial Liabilities | At December 31, 2019, the scheduled principal payments during the next five years and thereafter are as follows:
($ in millions) |  | US$ |  |  | CAD$ Equivalent |
2020 |  | $ | 23 |  |  | $ | 29 |
2021 |  | 117 |  |  | 152 |
2022 |  | 202 |  |  | 262 |
2023 |  | 220 |  |  | 286 |
2024 |  | — |  |  | — |
Thereafter |  | 2,670 |  |  | 3,469 |
|  | $ | 3,232 |  |  | $ | 4,198 |
Contractual undiscounted cash flow requirements for financial liabilities as at December 31, 2019 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 (Note 18) |  | $ | 2,498 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,498 |
Debt (Note 19(d)) |  | 29 |  |  | 414 |  |  | 286 |  |  | 3,469 |  |  | 4,198 |
Lease liabilities (Note 20(b)) |  | 162 |  |  | 193 |  |  | 109 |  |  | 676 |  |  | 1,140 |
Estimated interest payments on debt |  | 235 |  |  | 444 |  |  | 410 |  |  | 3,126 |  |  | 4,215 |
Estimated interest payments on lease liabilities |  | 9 |  |  | 11 |  |  | 6 |  |  | 39 |  |  | 65 |
Schedule of Sensitivity Analysis for Types of Market Risk | The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2019, and December 31, 2018.
|  | Outstanding at December 31, 2019 |  |  | Outstanding at December 31, 2018 |
(Pounds in millions) |  | Pounds |  |  | US$/lb. |  |  | Pounds |  |  | US$/lb. |
Receivable positions |  |  |  |  |  |  |  |
Copper |  | 65 |  |  | $ | 2.80 |  |  | 93 |  |  | $ | 2.70 |
Zinc |  | 239 |  |  | $ | 1.04 |  |  | 208 |  |  | $ | 1.12 |
Lead |  | 74 |  |  | $ | 0.87 |  |  | 24 |  |  | $ | 0.91 |
Payable positions |  |  |  |  |  |  |  |
Zinc payable |  | 79 |  |  | $ | 1.04 |  |  | 77 |  |  | $ | 1.12 |
Lead payable |  | 10 |  |  | $ | 0.87 |  |  | 16 |  |  | $ | 0.91 |
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, 2019. 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) |  | 2019 |  | 2018 |  | 2019 |  |  | 2018 |
Copper |  | US$2.80/lb |  | US$2.70/lb |  | $ | 14 |  |  | $ | 21 |
Zinc |  | US$1.04/lb |  | US$1.12/lb |  | $ | 7 |  |  | $ | 7 |
Schedules of Risks Arising from Financial Instruments | Derivatives Not Designated as Hedging Instruments and Embedded Derivatives
(CAD$ in millions) |  | Amount of Gain (Loss) Recognized in Other Operating Income (Expense) (Note 9) |
|  | 2019 |  |  | 2018 |
Zinc derivatives |  | $ | (4 | ) |  | $ | (40 | )
Lead derivatives |  | (2 | ) |  | (4 | )
Settlement receivables and payables |  | (49 | ) |  | (117 | )
Contingent zinc escalation payment embedded derivative (c) |  | 1 |  |  | 13 |
Gold stream embedded derivative (c) |  | 15 |  |  | (1 | )
Silver stream embedded derivative (c) |  | 7 |  |  | (4 | )
|  | $ | (32 | ) |  | $ | (153 | )
A summary of these derivative contracts and related fair values as at December 31, 2019 is as follows:
Derivatives not designated as hedging instruments |  | Quantity |  | Average Price of Purchase Commitments |  | Average Price of Sale Commitments |  | Fair Value Asset (Liability) (CAD$ in millions) |
Zinc swaps |  | 77 million lbs. |  | US$1.04/lb. |  | US$1.02/lb. |  | $ | (2 | )
Lead swaps |  | 50 million lbs. |  | US$0.89/lb. |  | US$0.88/lb. |  | (1 | )
|  |  |  |  |  |  |  | $ | (3 | )

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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 2019-01-01 -Paragraph 31 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_31&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2019-01-01 -Paragraph 39 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_39_a&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2019-01-01 -Paragraph 40 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_40_a&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition Derivatives not designated as hedging instruments. + References No definition available. + Details
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