XML 99 R64.htm IDEA: XBRL DOCUMENT
v3.20.4

Financial Instruments and Financial Risk Management (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Disclosure of risk management strategy related to hedge accounting [abstract] |
Schedules of Risks Arising from Financial Instruments |
(US$ in millions) |  | December 31, 2020 |  | December 31, 2019
Cash and cash equivalents |  | $ | 23 |  |  | $ | 85 |
Trade and settlement receivables |  | 616 |  |  | 505 |
Trade accounts payable and other liabilities |  | (608) |  |  | (459) |
Debt |  | (3,741) |  |  | (3,209) |
Reduced by: Debt designated as a hedging instrument in our net investment hedge |  | 3,575 |  |  | 2,969 |
Net U.S. dollar exposure |  | $ | (135) |  |  | $ | (109) |
The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2020, and December 31, 2019.
|  | Outstanding at December 31, 2020 |  | Outstanding at December 31, 2019
(Pounds in millions) |  | Pounds |  | US$/lb. |  | Pounds |  | US$/lb.
Receivable positions |  |  |  |  |  |  |  |
Copper |  | 132 |  |  | $ | 3.52 |  |  | 65 |  |  | $ | 2.80 |
Zinc |  | 142 |  |  | $ | 1.24 |  |  | 239 |  |  | $ | 1.04 |
Lead |  | 42 |  |  | $ | 0.90 |  |  | 74 |  |  | $ | 0.87 |
Payable positions |  |  |  |  |  |  |  |
Zinc payable |  | 112 |  |  | $ | 1.24 |  |  | 79 |  |  | $ | 1.04 |
Lead payable |  | 19 |  |  | $ | 0.90 |  |  | 10 |  |  | $ | 0.87 |
Schedule of Maturity Analysis for Non-Derivative Financial Liabilities | At December 31, 2020, the scheduled principal payments during the next five years and thereafter are as follows:
($ in millions) |  | US$ |  | CAD$ Equivalent
2021 |  | $ | 90 |  |  | $ | 115 |
2022 |  | 150 |  |  | 190 |
2023 |  | 243 |  |  | 310 |
2024 |  | 397 |  |  | 505 |
2025 |  | 135 |  |  | 172 |
Thereafter |  | 3,962 |  |  | 5,045 |
|  | $ | 4,977 |  |  | $ | 6,337 |
Contractual undiscounted cash flow requirements for financial liabilities as at December 31, 2020 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 |  | $ | 2,736 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,736 |
Debt (Note 19(f)) |  | 115 |  |  | 500 |  |  | 677 |  |  | 5,045 |  |  | 6,337 |
Lease liabilities |  | 146 |  |  | 175 |  |  | 130 |  |  | 706 |  |  | 1,157 |
QB2 advances from SMM/SC |  | — |  |  | — |  |  | — |  |  | 941 |  |  | 941 |
Other liabilities |  | — |  |  | 193 |  |  | 21 |  |  | 54 |  |  | 268 |
Estimated interest payments on debt |  | 270 |  |  | 530 |  |  | 528 |  |  | 3,088 |  |  | 4,416 |
Estimated interest payments on QB2 advances from SMM/SC |  | — |  |  | — |  |  | — |  |  | 1,202 |  |  | 1,202 |
Estimated interest payments on lease and other liabilities |  | 12 |  |  | 11 |  |  | 7 |  |  | 38 |  |  | 68 |
Schedule of Sensitivity Analysis for Types of Market Risk | The following represents the effect on profit (loss) attributable to shareholders from a 10% change in commodity prices, based on outstanding receivables and payables subject to final pricing adjustments at December 31, 2020. There is no effect on other comprehensive income (loss).
|  | Price on December 31, |  | Change in Profit Attributable to Shareholders
(CAD$ in millions, except for US$/lb. data) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Copper |  | US$3.52/lb. |  | US$2.80/lb. |  | $ | 36 |  |  | $ | 14 |
Zinc |  | US$1.24/lb. |  | US$1.04/lb. |  | $ | (2) |  |  | $ | 7 |
The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2020, and December 31, 2019.
|  | Outstanding at December 31, 2020 |  | Outstanding at December 31, 2019
(Pounds in millions) |  | Pounds |  | US$/lb. |  | Pounds |  | US$/lb.
Receivable positions |  |  |  |  |  |  |  |
Copper |  | 132 |  |  | $ | 3.52 |  |  | 65 |  |  | $ | 2.80 |
Zinc |  | 142 |  |  | $ | 1.24 |  |  | 239 |  |  | $ | 1.04 |
Lead |  | 42 |  |  | $ | 0.90 |  |  | 74 |  |  | $ | 0.87 |
Payable positions |  |  |  |  |  |  |  |
Zinc payable |  | 112 |  |  | $ | 1.24 |  |  | 79 |  |  | $ | 1.04 |
Lead payable |  | 19 |  |  | $ | 0.90 |  |  | 10 |  |  | $ | 0.87 |
Schedules of Risks Arising from Financial Instruments | December 31, 2020 is as follows:
Derivatives not designated as hedging instruments |  | Quantity |  | Average Price of Purchase Commitments |  | Average Price of Sale Commitments |  | Fair Value Asset (CAD$ in millions)
Zinc swaps |  | 169 million lbs. |  | US$1.21/lb. |  | US$1.23/lb. |  | $ | 10 |
Lead swaps |  | 65 million lbs. |  | US$0.88/lb. |  | US$0.89/lb. |  | 2 |
|  |  |  |  |  |  |  | $ | 12 |
Derivatives Not Designated as Hedging Instruments and Embedded Derivatives
(CAD$ in millions) |  | Amount of Gain (Loss) Recognized in Other Operating Income (Expense) (Note 9)
|  | 2020 |  | 2019
Zinc derivatives |  | $ | 12 |  |  | $ | (4) |
Lead derivatives |  | (5) |  |  | (2) |
Settlement receivables and payables |  | 47 |  |  | (49) |
Contingent zinc escalation payment embedded derivative (c) |  | (1) |  |  | 1 |
Gold stream embedded derivative (c) |  | 28 |  |  | 15 |
Silver stream embedded derivative (c) |  | 28 |  |  | 7 |
|  | $ | 109 |  |  | $ | (32) |

X
- 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 2020-01-01 -Paragraph 31 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_31&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 2020-01-01 -Paragraph 39 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_39_a&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 2020-01-01 -Paragraph 40 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_40_a&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Derivatives not designated as hedging instruments. + References No definition available. + Details
Name: | teck_DerivativesNotDesignatedAsHedgingInstrumentsTextBlockTableTextBlock
Namespace Prefix: | teck_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration