XML 27 R20.htm IDEA: XBRL DOCUMENT v3.25.3
Derivative Instruments and Risk Management
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Risk Management

NOTE 12 – DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT

The Company enters into various foreign currency forward exchange contracts to minimize currency exchange rate exposure from expected future cash flows. As at September 30, 2025, the contracts have maturity dates of up to two years at the date of inception. These foreign currency forward exchange contracts have not been designated as hedging instruments, and their impact on the income statement for the nine months ended September 30, 2025 was a loss of $3.6 million (nine months ended September 30, 2024 a loss of $1.1 million). The gain or loss has been recorded in other income or expense.