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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Major components of tax expense (income) [abstract] |
Summary of income tax expense | Total income tax expense consists of:
| December 31, 2020 |  | December 31, 2019
Current tax expense | $ | 88,575 |  |  | $ | 56,350 |
Deferred tax recovery | (9,441) |  |  | (16,579) |
| $ | 79,134 |  |  | $ | 39,771 |
Summary of income tax expense attributable to geographical jurisdiction | Total income tax expense attributable to each geographical jurisdiction for the Company is as follows:
| 2020 |  |  | 2019 |
Turkey | $ | 65,815 |  |  | $ | 57,518 |
Canada | 23,122 |  |  | (2,727) |
Greece | (8,763) |  |  | (14,306) |
Romania | (6,081) |  |  | (1,110) |
Brazil | 5,041 |  |  | 249 |
Other jurisdictions | — |  |  | 147 |
| $ | 79,134 |  |  | $ | 39,771 |
Summary of key factors affecting income tax expense | The key factors affecting income tax expense for the years are as follows:
| 2020 |  | 2019
Earnings from continuing operations before income tax | $ | 176,495 |  |  | $ | 113,456 |
Canadian statutory tax rate | 27% |  | 27%
Tax expense on net earnings at Canadian statutory tax rate | $ | 47,654 |  |  | $ | 30,633 |
Items that cause an increase (decrease) in income tax expense: |  |  |
Foreign income subject to different income tax rates than Canada | (20,875) |  |  | (24,608) |
Reduction in Greek income tax rate | — |  |  | (7,243) |
Turkish investment tax credits | (21,669) |  |  | — |
Québec mineral tax | 10,712 |  |  | 63 |
Non-tax effected operating losses | 25,598 |  |  | 16,231 |
Non-deductible expenses and other items | 7,400 |  |  | 13,514 |
Foreign exchange and other translation adjustments | 22,798 |  |  | 13,382 |
Future and current withholding tax on foreign income dividends | 8,705 |  |  | (5,278) |
Other | (1,189) |  |  | 3,077 |
Income tax expense | $ | 79,134 |  |  | $ | 39,771 |
Summary of change in net deferred tax position | The change in the Company’s net deferred tax position was as follows:
| 2020 |  | 2019
Net deferred income tax liability |  |  |
Balance at January 1, | $ | 412,717 |  |  | $ | 429,929 |
Deferred income tax recovery in the statement of operations | (9,441) |  |  | (16,579) |
Deferred tax recovery in the consolidated statement of OCI | (563) |  |  | (633) |
Balance at December 31, | $ | 402,713 |  |  | $ | 412,717 |
Summary of temporary difference | The composition of the Company’s net deferred income tax assets and liabilities and deferred tax expense (recovery) is as follows:
Type of temporary difference | Deferred tax assets | Deferred tax liabilities | Recovery
| 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Property, plant and equipment | $ | — |  | $ | — |  | $ | 458,622 |  | $ | 498,384 |  | $ | (39,762) |  | $ | 14,823 |
Loss carryforwards | 33,587 |  | 42,079 |  | — |  | — |  | 8,492 |  | (4,834) |
Liabilities | 35,794 |  | 31,793 |  | 7,680 |  | 2,545 |  | 1,697 |  | (1,927) |
Future withholding taxes | — |  | — |  | 6,234 |  | — |  | 6,234 |  | (20,000) |
Other items | 15,930 |  | 24,346 |  | 15,488 |  | 10,006 |  | 13,898 |  | (4,641) |
Balance at December 31, | $ | 85,311 |  | $ | 98,218 |  | $ | 488,024 |  | $ | 510,935 |  | $ | (9,441) |  | $ | (16,579) |
Summary of unrecognized deferred tax assets |
Unrecognized deferred tax assets | 2020 |  | 2019
Tax losses | $ | 181,667 |  |  | $ | 169,498 |
Other deductible temporary differences | 39,394 |  |  | 30,242 |
| $ | 221,061 |  |  | $ | 199,740 |
Summary of unrecognized tax losses | The gross amount of tax losses for which no deferred tax asset was recognized expire as follows:
| 2020 | Expiry date |  | 2019 | Expiry date
Canadian net operating loss carryforwards | $ | 512,102 |  | 2025-2040 |  | $ | 487,229 |  | 2025-2039
Canadian capital losses | $ | 65,836 |  | none |  | $ | 63,483 |  | none
Greek net operating loss carryforwards | $ | 140,196 |  | 2021-2025 |  | $ | 98,395 |  | 2020-2024
Brazilian net operating loss carryforwards | $ | 2,421 |  | none |  | $ | 31,128 |  | none

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