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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Net deferred tax assets and liabilities [abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes differs from that which would be expected by applying statutory Canadian income tax rates. A reconciliation of the difference for the years ended December 31, is as follows:
|  | 2023 |  |  | 2022 |
Earnings (loss) before income taxes | $ |  | 265,779 |  | $ |  | (14,143 | )
Federal and provincial statutory rates |  |  | 24 | % |  |  | 24 | %
Tax at statutory rates | $ |  | 63,787 |  | $ |  | (3,394 | )
Adjusted for the effect of: |  |  |  |  |  |
Non-deductible expenses |  |  | 2,426 |  |  |  | 1,146 |
Non-taxable capital gains |  |  | (2,551 | ) |  |  | (379 | )
Gain on acquisition |  |  | (6,222 | ) |  |  | — |
Impact of foreign tax rates |  |  | (2,450 | ) |  |  | (2,559 | )
Withholding taxes |  |  | 337 |  |  |  | 1,026 |
Taxes related to prior years |  |  | (4,945 | ) |  |  | 1,718 |
Tax assets not recognized |  |  | 8,629 |  |  |  | 22,592 |
Deferred tax assets recognized |  |  | (82,476 | ) |  |  |
Income tax expense (recovery) | $ |  | (23,465 | ) | $ |  | 20,150 |
Summary of Net Deferred Tax Liability | The net deferred tax liability is comprised of the tax effect of the following temporary differences:
|  | 2023 |  |  | 2022 |
Deferred tax liability: |  |  |  |  |  |
Property, plant and equipment and intangibles | $ |  | 358,170 |  | $ |  | 364,278 |
Debt issue costs |  |  | 928 |  |  |  | 1,303 |
Partnership deferrals |  |  | — |  |  |  | 21,768 |
Other |  |  | 6,741 |  |  |  | 6,284 |
|  |  | 365,839 |  |  |  | 393,633 |
Offsetting of assets and liabilities |  |  | (292,324 | ) |  |  | (364,687 | )
| $ |  | 73,515 |  | $ |  | 28,946 |
Deferred tax assets: |  |  |  |  |  |
Losses (expire from time to time up to 2042) | $ |  | 332,192 |  | $ |  | 318,967 |
Long-term incentive plan |  |  | 21,770 |  |  |  | 36,542 |
Other |  |  | 12,024 |  |  |  | 9,633 |
|  |  | 365,986 |  |  |  | 365,142 |
Offsetting of assets and liabilities |  |  | (292,324 | ) |  |  | (364,687 | )
| $ |  | 73,662 |  | $ |  | 455 |
Net deferred tax liability | $ |  | (147 | ) | $ |  | 28,491 |
Summary of Deferred Tax Asset Not Recognized | Accordingly, the Corporation has not recognized a deferred tax asset for the following items:
|  | 2023 |  |  | 2022 |
Tax losses (Capital) | $ |  | 17,247 |  | $ |  | 29,255 |
Tax losses (Income) |  |  | 23,446 |  |  |  | 134,588 |
Deductible temporary differences |  |  | 5,246 |  |  |  | 5,224 |
Total | $ |  | 45,939 |  | $ |  | 169,067 |
Summary of Movement in Temporary Differences of Deferred Tax Liabilities | The movement in temporary differences is as follows:
|  | Property, Plant and Equipment and Intangibles |  |  | Partnership Deferrals |  |  | Other Deferred Tax Liabilities |  |  | Losses |  |  | Debt Issue Costs |  |  | Long-Term Incentive Plan |  |  | Other Deferred Tax Assets |  |  | Net Deferred Tax Liability |
Balance, December 31, 2021 | $ |  | 359,383 |  | $ |  | 11,082 |  | $ |  | 6,221 |  | $ |  | (340,406 | ) | $ |  | 1,457 |  | $ |  | (14,264 | ) | $ |  | (12,121 | ) | $ |  | 11,352 |
Recognized in net earnings (loss) |  |  | (10,047 | ) |  |  | 10,686 |  |  |  | 51 |  |  |  | 33,827 |  |  |  | (154 | ) |  |  | (21,583 | ) |  |  | 3,008 |  |  |  | 15,788 |
Foreign exchange |  |  | 14,942 |  |  |  | — |  |  |  | 12 |  |  |  | (12,388 | ) |  |  | — |  |  |  | (695 | ) |  |  | (520 | ) |  |  | 1,351 |
Balance, December 31, 2022 | $ |  | 364,278 |  | $ |  | 21,768 |  | $ |  | 6,284 |  | $ |  | (318,967 | ) | $ |  | 1,303 |  | $ |  | (36,542 | ) | $ |  | (9,633 | ) | $ |  | 28,491 |
Recognized in net earnings (loss) |  |  | (11,063 | ) |  |  | (21,768 | ) |  |  | (231 | ) |  |  | (6,792 | ) |  |  | (375 | ) |  |  | 14,583 |  |  |  | (2,313 | ) |  |  | (27,959 | )
Acquisition |  |  | 9,865 |  |  |  | — |  |  |  | 694 |  |  |  | (9,358 | ) |  |  | — |  |  |  | — |  |  |  | (237 | ) |  |  | 964 |
Foreign exchange |  |  | (4,910 | ) |  |  | — |  |  |  | (6 | ) |  |  | 2,925 |  |  |  | — |  |  |  | 189 |  |  |  | 159 |  |  |  | (1,643 | )
Balance, December 31, 2023 | $ |  | 358,170 |  | $ |  | — |  | $ |  | 6,741 |  | $ |  | (332,192 | ) | $ |  | 928 |  | $ |  | (21,770 | ) | $ |  | (12,024 | ) | $ |  | (147 | )

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