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Capital disclosures | 12 Months Ended
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Dec. 31, 2021
Corporate Information And Statement Of IFRS Compliance [Abstract] |
Capital disclosures | Capital disclosures: The Company’s objective in managing liquidity and capital is to safeguard the Company’s ability to continue as a going concern and to provide financial capacity and flexibility to meet its strategic objectives, with a focus on cash preservation and liquidity.
As at | Dec 31 2021 | Dec 31 2020
Liquidity: |  |
Cash and cash equivalents | $ | 932,069 |  | $ | 833,841 |
Undrawn credit facility | 300,000 |  | 300,000 |
Undrawn G3 construction facility | 600,000 |  | 627,000 |
Total liquidity | $ | 1,832,069 |  | $ | 1,760,841 |
Capitalization: |  |
G3 construction facility | $ | — |  | $ | 176,335 |
Unsecured notes, including current portion | 1,981,199 |  | 1,979,125 |
Egypt limited recourse debt facilities, including current portion | — |  | 46,948 |
Other limited recourse debt facilities, including current portion | 176,993 |  | 160,964 |
Total debt | 2,158,192 |  | 2,363,372 |
Non-controlling interests | 271,155 |  | 292,357 |
Shareholders’ equity | 1,683,576 |  | 1,149,100 |
Total capitalization | $ | 4,112,923 |  | $ | 3,804,829 |
Total debt to capitalization 2 | 52% | 62%
Net debt to capitalization 3 | 39% | 51%
1 Total debt (including 100% of Egypt and Other limited recourse debt facilities) divided by total capitalization. 2 Total debt (including 100% of Egypt and Other limited recourse debt facilities) less cash and cash equivalents divided by total capitalization less cash and cash equivalents. The Company manages its liquidity and capital structure and makes adjustments to it in light of changes to economic conditions, the underlying risks inherent in its operations and capital requirements to maintain and grow its operations. The strategies employed by the Company may include the issue or repayment of general corporate debt, the issue of project debt, private placements by limited recourse subsidiaries, the issue of equity, the payment of dividends and the repurchase of shares. The Company is not subject to any statutory capital requirements and has no commitments to sell or otherwise issue common shares except pursuant to outstanding employee stock options. The Company has access to a $300 million committed revolving credit facility, along with a non-revolving construction facility for the Geismar 3 project, both facilities are with a syndicate of highly rated financial institutions. During the year ended December 31, 2021, the Company repaid $173 million (excluding finance fees) on its non-revolving construction facility, and extended the maturity date for the revolving credit facility from July 2024 to July 2026. The non-revolving construction facility maturity date was extended from July 2024 to July 2025, and the size of facility was reduced from $800 million to $600 million. The credit facilities are subject to certain financial covenants (note 8).

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- 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 2021-01-01 -Paragraph 134 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_134&doctype=Standard -URIDate 2021-03-24 + Details
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