NON-CONTROLLING INTERESTS

12 Months Ended

Dec. 31, 2021

Noncontrolling Interest Disclosure [Abstract]

Financial information of subsidiaries that have material non-controlling interests are provided below:


	December 31, 2021						December 31, 2020
	Essakane		Rosebel1		Boto		Essakane		Rosebel		Boto
Percentage of voting rights held by non-controlling interests	10%		5%		10%		10%		5%		10%

Accumulated non-controlling interest	$	59.2	$	14.4	$	0.2	$	55.2	$	27.3	$	0.3

Net earnings (loss) attributable to non-controlling interests	$	7.1	$	(8.6)	$	(0.1)	$	13.0	$	1.6	$	—

Dividends paid to non-controlling interests2	$	3.1	$	4.3	$	—	$	0.5	$	—	$	—

1.The 5% non-controlling interest for Rosebel is based on the consolidated results of Rosebel which includes 70% of Saramacca.

2.For the year ended December 31, 2021, dividends paid to other non-controlling interests amounted to $1.9 million (December 31, 2020 – $1.4 million).

Selected summarized information relating to these subsidiaries are provided below, before any intercompany eliminations:


	December 31, 2021						December 31, 2020
	Essakane		Rosebel		Boto		Essakane		Rosebel		Boto

Current assets	$	294.4	$	144.2	$	2.6	$	355.6	$	304.5	$	5.1
Non-current assets	849.7		569.6		61.8		975.1		697.6		25.3
Current liabilities	(128.9)		(98.6)		(2.7)		(130.6)		(92.0)		(7.4)
Non-current liabilities	(257.4)		(275.3)		(58.7)		(480.8)		(312.1)		(19.4)
Net assets	$	757.8	$	339.9	$	3.0	$	719.3	$	598.0	$	3.6
	Year ended						Year ended
	December 31, 2021						December 31, 2020
Revenues	$	816.3	$	277.2	$	—	$	715.0	$	380.5	$	—
Net earnings (loss) and OCI	$	69.3	$	(173.0)	$	(0.7)	$	128.5	$	31.8	$	—

Net cash from (used in) operating activities	$	388.5	$	32.9	$	(0.6)	$	252.0	$	144.5	$	(0.1)
Net cash used in investing activities	(142.2)		(101.5)		(33.7)		(120.3)		(19.4)		(14.3)
Net cash from (used in) financing activities	(263.9)		(63.5)		32.1		(105.8)		(18.6)		19.4
Net increase (decrease) in cash and cash equivalents	$	(17.6)	$	(132.1)	$	(2.2)	$	25.9	$	106.5	$	5.0

The Company’s ability to access or use the assets of Essakane and Rosebel to settle its liabilities is not significantly restricted by known current contractual or regulatory requirements, or from the protective rights of non-controlling interests. Dividends payable by Rosebel and Essakane must be approved by the Supervisory Boards, which includes representation from the non-controlling interest.