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Investments in affiliates and joint ventures (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of variable interest entities

The following table summarizes the investments of the NL Partnership, including the NL Partnership’s ownership interest therein:

		NL Partnership Interest(iii)
Equity method investments:
Kivalliq Services Ltd.(i)		33.33	%
HRN Contracting Ltd.(ii)		33.33	%
Proportionately consolidated investments:
Amik Nuna Forestry Services		50.00	%
Aroland Nuna		49.00	%
Fond Du Lac Nuna		49.00	%
Mahiikanuk Nuna		49.00	%
Met Nuna		75.00	%
Nuna Bauer		50.00	%
EDC Nuna Contracting		70.00	%
Attawapiskat Nuna		75.00	%
Consolidated investments:
Deton Cho Nuna		60.00	%
Nuna Deton Cho Winter Road Services		75.00	%
Nuna Deton Cho Contracting		100.00	%

⁽ⁱ⁾Includes investment in MTKSL Contracting Joint Venture.

⁽ⁱⁱ⁾Includes investment in TDIC/HRN Contracting Joint Venture.

⁽ⁱⁱⁱ⁾Subsequent to the change in presentation of the NL Partnership on November 1, 2019, the investments of the NL Partnership and the results of these investments are recognized through the Company’s equity method investment in the NL Partnership.

Schedule of investments in affiliates and joint ventures

The purchase price at the date of acquisition is allocated to net assets acquired as follows:

Assets
Cash		$	10,939
Accounts receivable, net		13,234
Contract assets		3,089
Inventories		3,926
Prepaid expenses and deposits		304
		31,492
Property, plant and equipment		15,962
Other assets		1,375
Investment in affiliates and joint ventures		11,728
Total Assets		60,557
Liabilities
Accounts payable		10,604
Accrued liabilities		1,136
Contract liabilities		360
		12,100
Long-term debt (including current portion)		3,127
Finance lease obligation (formally capital lease obligation, including current portion)		542
Deferred tax liabilities		1,938
Total Liabilities		17,707
Net assets acquired		$	42,850

The following table summarizes the investments of the NL Partnership, including the NL Partnership’s ownership interest therein:

		NL Partnership Interest(iii)
Equity method investments:
Kivalliq Services Ltd.(i)		33.33	%
HRN Contracting Ltd.(ii)		33.33	%
Proportionately consolidated investments:
Amik Nuna Forestry Services		50.00	%
Aroland Nuna		49.00	%
Fond Du Lac Nuna		49.00	%
Mahiikanuk Nuna		49.00	%
Met Nuna		75.00	%
Nuna Bauer		50.00	%
EDC Nuna Contracting		70.00	%
Attawapiskat Nuna		75.00	%
Consolidated investments:
Deton Cho Nuna		60.00	%
Nuna Deton Cho Winter Road Services		75.00	%
Nuna Deton Cho Contracting		100.00	%

⁽ⁱ⁾Includes investment in MTKSL Contracting Joint Venture.

⁽ⁱⁱ⁾Includes investment in TDIC/HRN Contracting Joint Venture.

⁽ⁱⁱⁱ⁾Subsequent to the change in presentation of the NL Partnership on November 1, 2019, the investments of the NL Partnership and the results of these investments are recognized through the Company’s equity method investment in the NL Partnership.

The following table summarizes the movement in the investments in affiliates and joint ventures balance during the year:

		December 31, 2019				December 31, 2018
Balance, beginning of the year		$	11,788			$	—
Additions arising on acquisition		—				11,728
Additions due to change in presentation of NL Partnership		37,025				—
Dividends, repayments of loans and other adjustments		(8,685		)		—
Share of net income		2,780				60
Balance, end of the year		$	42,908			$	11,788

The financial information for the investments in affiliates and joint ventures accounted for using the equity method is summarized as follows:

Balance Sheets

		December 31, 2019				December 31, 2018
Assets
Current assets		$	33,734			$	9,769
Non-current assets		21,370				2,392
Total assets		$	55,104			$	12,161
Liabilities
Current liabilities		$	10,590			$	4,013
Non-current liabilities		2,614				3,032
Total liabilities		$	13,204			$	7,045

Statement of Operations and Comprehensive Income

Year ended December 31,		2019				2018
Revenues		$	24,689			$	1,771
Gross profit		5,148				152
Income before taxes		3,782				98
Net income and comprehensive income		2,780				60

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- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

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Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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