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LEASES | 12 Months Ended
--- | ---
Dec. 31, 2024
Disclosure of leases [Abstract] |
Leases | Leases
|  | Years ended December 31,
| Notes | 2024 | 2023
Balance, beginning of year |  | $ | 121.3 |  | $ | 73.8 |
Additions |  | 34.1 |  | 79.7 |
Interest expense |  | 8.4 |  | 7.5 |
Foreign exchange impact |  | (11.0) |  | 1.0 |
Principal lease payments | 34(d) | (20.6) |  | (6.0) |
Interest payments |  | (8.0) |  | (5.3) |
UJV lease adjustment | 12 | — |  | (29.4) |
Balance, end of year |  | $ | 124.2 |  | $ | 121.3 |
Current portion |  | $ | 28.8 |  | $ | 21.1 |
Non-current portion |  | 95.4 |  | 100.2 |
|  | $ | 124.2 |  | $ | 121.3 |
Leases are entered into and exist to meet specific business requirements, considering the appropriate term and nature of the leased asset. Extension options Some property leases contain extension options exercisable by the Company up to one year before the end of the non-cancellable contract period. The extension options held are exercisable only by the Company and not by the lessors. The Company assesses at the lease commencement date whether it is reasonably certain to exercise the extension options. The Company reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control. Some mobile equipment leases contain extension options which are exercisable by the Company, but require renegotiation or mutual agreement with the lessor. As these extension options are not exercisable only by the Company, the lease terms do not reflect the extension options and this resulted in some of the leases being classified as short-term. Short-term and low-value leases and variable lease payments Short-term leases are leases with a lease term of twelve months or less and leases of low-value assets are comprised of miscellaneous equipment. Such items are recognized in cost of sales or general and administrative expenses in the consolidated statements of earnings (loss). Some lease payments are driven by variable rates which are based on time, usage or a combination of both. Variable lease payments are not included in the lease liability and are recognized in cost of sales or exploration expenses in the consolidated statements of earnings (loss) when incurred.
|  | Years ended December 31,
|  | 2024 | 2023
Amounts recognized in statement of earnings (loss): |  |  |
Short-term and low-value leases |  | $ | 43.7 |  | $ | 25.6 |
Variable lease payments |  | $ | 4.6 |  | $ | 12.0 |

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2024-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2024-03-27 + Details
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