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Equity-accounted Investments
12 Months Ended
Dec. 31, 2024
Interests In Other Entities [Abstract]  
Equity-accounted Investments Equity-accounted Investments:
For the year ended December 31, 2024, the Corporation recorded $4,941,000 (2023 - $10,131,000) in equity loss of investment in joint venture and associates, consisting of equity loss in Weichai Ballard JV of $4,941,000 (2023 - $9,931,000) and equity loss in Synergy Ballard JV Co of $nil (2023 - $200,000).
On completion of an Equity Transfer Agreement in October 2023, the Corporation disposed of its 10% investment in Synergy Ballard JVCo valued at $nil as of December 31, 2023.
Investment in Weichai Ballard JV
Investment in Weichai Ballard JVDecember 31,
2024
December 31,
2023
Beginning balance$13,901 $24,026 
Recognition (deferral) of 49% profit on inventory not yet sold to third party, net
(168)1,205 
Equity in loss(4,941)(9,931)
Cumulative translation adjustment due to foreign exchange(554)(1,399)
Ending balance$8,238 $13,901 
Weichai Ballard JV is an associate in which the Corporation has significant influence and a 49% ownership interest. At December 31, 2024, as specified in the Equity Joint Venture Agreement, the Corporation has fulfilled its capital contribution commitments to Weichai Ballard JV.
The following tables summarize the financial information of Weichai Ballard JV as included in its own financial statements as of December 31, 2024, adjusted for foreign exchange differences, the application of the Corporation's accounting policies, and the Corporation's incorporation costs.
December 31,
2024
December 31, 2023
Percentage ownership interest (49%)
Current assets$40,993 $63,023 
Non-current assets50 132 
Current liabilities(18,398)(29,265)
Net assets (100%)
22,645 33,890 
Corporation's share of net assets (49%)
11,096 16,607 
Incorporation costs324 324 
Elimination of unrealized profit on downstream sales, net of sale to third party(3,182)(3,030)
Carrying amount of investment in Weichai Ballard JV$8,238 $13,901 
December 31,December 31,
20242023
Revenue (100%)$2,290 $12,705 
Net loss (100%)10,084 20,268 
Corporation's share of net loss (49%)
$4,941 $9,931