Financial risk management (Tables)

12 Months Ended

Dec. 31, 2020

The Company’s interest rate risk exposure is mainly related to long-term debt obligations.


As at	Dec 31 2020		Dec 31 2019
Fixed interest rate debt:
Unsecured notes	$	1,979,125	$	1,535,662
Other limited recourse debt facilities	160,964		156,500
	$	2,140,089	$	1,692,162
Variable interest rate debt:
Geismar 3 construction facility	$	176,335	$	—
Egypt limited recourse debt facilities	46,948		75,165
Other limited recourse debt facilities	—		1,526
	$	223,283	$	76,691

Expected cash flows of financial liabilities by maturity date

The expected cash flows of financial liabilities from the date of the balance sheet to the contractual maturity date are as follows:


As at December 31, 2020	Carrying amount		Contractual cash flows		1 year or less		1-3 years		3-5 years		More than 5 years
Trade and other payables 1	$	485,545	$	485,545	$	485,545	$	—	$	—	$	—
Lease obligations 2	722,234		982,387		142,096		228,493		192,342		419,456
Long-term debt 2	2,363,372		3,509,538		158,063		274,599		708,577		2,368,299
Cash flow hedges 3	181,372		214,622		15,047		44,841		63,002		91,732
	$	3,752,523	$	5,192,092	$	800,751	$	547,933	$	963,921	$	2,879,487

1 Excludes tax and accrued interest.

2 Contractual cash flows include contractual interest payments related to debt obligations and lease obligations. Interest rates on variable rate debt are based on prevailing rates as at December 31, 2020.

3 Cash flow hedges includes the impact of discounting and credit valuation adjustments