XML 57 R35.htm IDEA: XBRL DOCUMENT v3.20.4

Investments in affiliates and joint ventures (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of variable interest entities

The Company accounts for these investments as follows:

Investee name:						Interest						Consolidation
Nuna East Ltd.						37		%				Equity method
Nuna Pang Contracting Ltd.						37		%				Equity method
Nuna West Mining Ltd.						49		%				Equity method
1229181 B.C Ltd.						49		%				Equity method
North American Nuna Joint Venture						50		%				Equity method
NAYL Realty Inc.						49		%				Equity method
BNA Remanufacturing Limited Partnership						50		%				Equity method
Dene North Site Services Partnership						49		%				Proportionate
Mikisew North American Limited Partnership						49		%				Proportionate

Schedule of investments in affiliates and joint ventures

The Company accounts for these investments as follows:

Investee name:						Interest						Consolidation
Nuna East Ltd.						37		%				Equity method
Nuna Pang Contracting Ltd.						37		%				Equity method
Nuna West Mining Ltd.						49		%				Equity method
1229181 B.C Ltd.						49		%				Equity method
North American Nuna Joint Venture						50		%				Equity method
NAYL Realty Inc.						49		%				Equity method
BNA Remanufacturing Limited Partnership						50		%				Equity method
Dene North Site Services Partnership						49		%				Proportionate
Mikisew North American Limited Partnership						49		%				Proportionate

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

						December 31, 2020						December 31, 2019
Balance, beginning of the year						$	42,908					$	11,788
Additions due to change in presentation of NL Partnership						—						37,025
Additions						2,790						—
Share of net income						5,942						2,780
Dividends, repayments of loans and other adjustments						(7,590)						(8,685)
Balance, end of the year						$	44,050					$	42,908

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

Balance Sheets

						December 31, 2020						December 31, 2019
Assets
Current assets						$	51,727					$	33,734
Non-current assets						40,858						21,370
Total assets						$	92,585					$	55,104
Liabilities
Current liabilities						$	24,200					$	10,590
Non-current liabilities						24,335						2,614
Total liabilities						$	48,535					$	13,204

Statements of Operations and Comprehensive Income

Year ended December 31,						2020						2019
Revenues						$	59,944					$	24,689
Gross profit						9,833						5,148
Income before taxes						7,717						3,782
Net income and comprehensive income						5,942						2,780

X

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Name:	us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=121559654&loc=SL6759159-111685

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5747-111685

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121559654&loc=SL6228884-111685

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5728-111685

+ Details

Name:	us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration