XML 52 R32.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Capital Management | 12 Months Ended
--- | ---
Dec. 31, 2024
Subclassifications of assets, liabilities and equities [abstract] |
Capital Management | Capital Management The Company’s objective when managing capital is to provide sufficient capacity to cover normal operating and capital expenditures, acquisition growth, payment of dividends, and opportunistic share repurchases under its NCIB program, while maintaining an adequate return for shareholders. The Company defines its capital as cash, the aggregate of long-term debt (including the current portion), and shareholders’ equity.
| December 31, 2024 | December 31, 2023
| $ | $
|  | (Note 6.c)
Current portion of long-term debt | 175.0 |  | 124.0 |
Non-current portion of long-term debt | 1,208.5 |  | 974.2 |
Long-term debt | 1,383.5 |  | 1,098.2 |
Bank indebtedness | 17.1 |  | 23.6 |
Less: cash and cash equivalents | (228.5) |  | (352.9) |
Net debt | 1,172.1 |  | 768.9 |
Shareholders’ equity | 2,945.1 |  | 2,451.1 |
Total capital managed | 4,117.2 |  | 3,220.0 |
The Company manages its capital structure to maintain the flexibility to adjust to changes in economic conditions and acquisition growth and to respond to interest rate, foreign exchange, credit, and other risks. To maintain or adjust its capital structure, the Company may purchase shares for cancellation pursuant to NCIB, issue new shares, or raise or retire debt. The Company is subject to various covenants related to its revolving credit facility, term loan facilities, and senior unsecured notes, which are measured quarterly. The financial covenants include but are not limited to a leverage ratio and an interest coverage ratio (non-IFRS measures). The leverage ratio is calculated as the aggregate amount of indebtedness to EBITDA (on a pre-IFRS 16 basis) as defined by the syndicate senior credit facilities agreement. The interest coverage ratio is calculated as EBITDA to interest expense (pre-IFRS 16 basis). Failure to meet the terms of one or more of these covenants may constitute a default, potentially resulting in accelerating the repayment of these debt obligations. The Company was in compliance with the covenants under these agreements as at and throughout the year ended December 31, 2024.

X
- Definition The disclosure of information that enables users of financial statements to evaluate the entity's objectives, policies and processes for managing capital. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 134 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_134&doctype=Standard -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

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