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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2022
Disclosure of detailed information about financial instruments [abstract]  
Summary of detailed information about financial instruments
The Company has designated its financial instruments as follows:
 
  December 31, 2022
   
                    Carrying
value
     
                    Estimated  
fair value  
     
Financial Assets
                  
     
Cash and cash equivalents
   
$
253,776
 
   
$
253,776
 
     
Derivative instruments in designated hedge accounting relationships
   
 
901
 
   
 
901
 
     
Loans and receivables:
                  
     
Accounts receivable
   
 
456,578
 
   
 
456,578
 
     
Preferred shares receivable
   
 
27,954
 
   
 
28,702
 
     
Financial Liabilities
                  
     
Derivative instruments in designated hedge accounting relationships
   
 
977
 
   
 
977
 
     
Other financial liabilities:
                  
     
Accounts payable and accrued liabilities
   
 
627,149
 
   
 
627,149
 
     
Long-term debt – Revolving Credit Facility
   
 
459,202
 
   
 
459,202
 
     
Long-term debt – Term Loan
   
 
203,160
 
   
 
203,160
 
     
Long-term debt – Notes
   
 
846,500
 
   
 
869,288
 
     
Other long-term liabilities
   
 
21,757
 
   
 
21,757
 
 
  December 31, 2021
   
                    Carrying
value
     
                    Estimated  
fair value  
     
Financial Assets
                  
     
Cash and cash equivalents
   
$
172,758
 
   
$
172,758
 
     
Derivative instruments in designated hedge accounting relationships
   
 
294
 
   
 
294
 
     
Loans and receivables:
                  
     
Accounts receivable
   
 
212,206
 
   
 
212,206
 
     
Preferred shares receivables
   
 
24,172
 
   
 
27,471
 
     
Financial Liabilities
                  
     
Derivative instruments in designated hedge accounting relationships
   
 
180
 
   
 
180
 
     
Other financial liabilities:
                  
     
Accounts payable and accrued liabilities
   
 
240,747
 
   
 
240,747
 
     
Long-term debt – Bank Facility
   
 
30,522
 
   
 
30,522
 
     
Long-term debt – Asset-Based Facility
   
 
37,411
 
   
 
37,411
 
     
Long-term debt – Notes
   
 
266,865
 
   
 
280,295
 
     
Other long-term liabilities
   
 
15,785
 
   
 
15,785
 
Summary of fair value measurement of financial assets and financial liabilities
                      Carrying
value		      Fair Value  
               Level 1                          Level 2                          Level 3
         
Financial Assets
                                    
         
Derivative financial instruments
    $ 901      $ -      $ 901      $ -  
         
Preferred shares receivable
    $ 27,954      $ -      $ 28,702      $ -  
         
Financial Liabilities
                                    
         
Derivative financial instruments
    $ 977      $ -      $ 977      $ -  
         
Long-term debt – Notes
    $ 846,500      $ -      $ 869,288      $ -  
Summary of detailed information about hedging instruments
The following table summarizes the Company’s commitments to buy and sell foreign currencies as at December 31, 2022:
 
             
Notional amount
      Maturity  
       
  Canadian Dollar Denominated Contracts
                       
       
Purchase contracts
      USD     
$
29,182
 
    January 2023 – November 2023  
       
Sales contracts
      USD     
 
(26,180)
 
    January 2023 – November 2023  
       
Purchase contracts
      EUR     
 
3,568
 
    January 2023 – March 2023  
       
Sales contracts
      EUR     
 
(2,453)
 
    March 2023  
Summary of earnings before tax due to weakening of foreign currency
  Canadian dollar weakens by five percent
   
USD
     
AUD
     
BRL  
  
       
Earnings from foreign operations
                           
       
Earnings before income taxes
   
$
                    4,024
 
   
 
$                    (113)
 
   
$
                    216  
 
Summary of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities The following table shows the Company’s sensitivity to a five percent weakening of the Canadian dollar against the U.S. dollar, Australian dollar, and Brazilian real. A five percent strengthening of the Canadian dollar would have an equal and opposite effect. This sensitivity analysis relates to the position as at December 31, 2022 and for the year then ended.
 
  Canadian dollar weakens by five percent
   
USD
    
AUD
     
BRL  
  
       
Financial instruments held in foreign operations
                          
       
Other comprehensive income
   
$
                    17,625
 
  
$
                    634
 
   
$
                    342  
 
       
Financial instruments held in Canadian operations
                          
       
Earnings before income taxes
   
$
(23,450
) 
  
$
-
 
   
$
-  
 
Summary of maturity analysis for derivative and non derivative financial liabilities
A liquidity analysis of the Company’s financial instruments has been completed on a maturity basis. The following table outlines the cash flows, including interest associated with the maturity of the Company’s financial liabilities, as at December 31, 2022:
 
     
          Less than 3
 
months
     
          3 months to
 
1 year
     
          Greater than
 
1 year
     
Total  
         
Derivative financial instruments
                                    
         
Foreign currency forward contracts
    $ 712      $ 265      $ -      $ 977   
         
Accounts payable and accrued liabilities
      627,149        -        -                  627,149  
         
Long-term debt – Revolving Credit Facility
      -        -        459,202        459,202  
         
Long-term debt – Term Loan
      -        27,088        176,072        203,160  
         
Long-term debt – Notes
      -        -        846,500        846,500  
         
Other long-term liabilities
      -        -        21,757        21,757