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Investments in affiliates and joint ventures (Tables) | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of interests in various affiliates and joint ventures | The following is a summary of the Company's interests in its various affiliates and joint ventures, which it accounts for using the equity method:
Affiliate or joint venture name: |  | Interest
Nuna Group of Companies ("Nuna") |  |
Nuna Logistics Ltd. |  | 49 | %
North American Nuna Joint Venture |  | 50 | %
Nuna East Ltd. |  | 37 | %
Nuna Pang Contracting Ltd. |  | 37 | %
Nuna West Mining Ltd. |  | 49 | %
Mikisew North American Limited Partnership ("MNALP") |  | 49 | %
Fargo joint ventures "Fargo" |  |
ASN Constructors ("ASN") |  | 30 | %
Red River Valley Alliance LLC ("RRVA") |  | 15 | %
NAYL Realty Inc. |  | 49 | %
BNA Remanufacturing Limited Partnership |  | 50 | %
Barrooghumba WPH Pty Ltd. |  | 50 | %
Ngaliku WPH Pty Ltd. |  | 50 | %
Dene North Site Services Partnership(i) |  | 49 | %
(i)As of January 1, 2023, the Dene North Site Services Partnership has been dissolved.
Schedule of investments in affiliates and joint ventures | The following is a summary of the Company's interests in its various affiliates and joint ventures, which it accounts for using the equity method:
Affiliate or joint venture name: |  | Interest
Nuna Group of Companies ("Nuna") |  |
Nuna Logistics Ltd. |  | 49 | %
North American Nuna Joint Venture |  | 50 | %
Nuna East Ltd. |  | 37 | %
Nuna Pang Contracting Ltd. |  | 37 | %
Nuna West Mining Ltd. |  | 49 | %
Mikisew North American Limited Partnership ("MNALP") |  | 49 | %
Fargo joint ventures "Fargo" |  |
ASN Constructors ("ASN") |  | 30 | %
Red River Valley Alliance LLC ("RRVA") |  | 15 | %
NAYL Realty Inc. |  | 49 | %
BNA Remanufacturing Limited Partnership |  | 50 | %
Barrooghumba WPH Pty Ltd. |  | 50 | %
Ngaliku WPH Pty Ltd. |  | 50 | %
Dene North Site Services Partnership(i) |  | 49 | %
(i)As of January 1, 2023, the Dene North Site Services Partnership has been dissolved. The following table summarizes the movement in the investments in affiliates and joint ventures balance during the year:
|  | December 31, 2023 |  | December 31, 2022
Balance, beginning of the year |  | $ | 75,637 |  |  | $ | 55,974 |
Additions arising from the acquisition of MacKellar |  | 85 |  |  | — |
Share of net income |  | 25,815 |  |  | 37,053 |
Dividends and advances received from affiliates and joint ventures |  | (21,543) |  |  | (12,760) |
Intercompany eliminations and other |  | 1,441 |  |  | (4,630) |
Balance, end of the year |  | $ | 81,435 |  |  | $ | 75,637 |
The financial information for 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, 2023 |  | Nuna |  | MNALP |  | Fargo |  | Other entities |  | Total
Assets |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 9,944 |  |  | $ | 4,184 |  |  | $ | 87,418 |  |  | $ | 222 |  |  | $ | 101,768 |
Other current assets |  | 34,937 |  |  | 36,060 |  |  | 4,556 |  |  | 4,593 |  |  | 80,146 |
Non-current assets |  | 23,884 |  |  | 37,103 |  |  | 172,818 |  |  | 10,434 |  |  | 244,239 |
Total assets |  | $ | 68,765 |  |  | $ | 77,347 |  |  | $ | 264,792 |  |  | $ | 15,249 |  |  | $ | 426,153 |
Liabilities |  |  |  |  |  |  |  |  |  |
Contract liabilities |  | $ | 7,817 |  |  | $ | — |  |  | $ | 76,481 |  |  | $ | 52 |  |  | $ | 84,350 |
Other current liabilities (excluding current portion of long-term debt) |  | 5,145 |  |  | 29,216 |  |  | 33,122 |  |  | 1,871 |  |  | 69,354 |
Long-term debt (including current portion) |  | 9,631 |  |  | 36,596 |  |  | 132,818 |  |  | 6,221 |  |  | 185,266 |
Non-current liabilities |  | 4,985 |  |  | — |  |  | 589 |  |  | 174 |  |  | 5,748 |
Total liabilities |  | $ | 27,578 |  |  | $ | 65,812 |  |  | $ | 243,010 |  |  | $ | 8,318 |  |  | $ | 344,718 |
Net investments in affiliates and joint ventures |  | $ | 41,187 |  |  | $ | 11,535 |  |  | $ | 21,782 |  |  | $ | 6,931 |  |  | $ | 81,435 |
December 31, 2022 |  | Nuna |  | MNALP |  | Fargo |  | Other entities |  | Total
Assets |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 6,559 |  |  | $ | 1,467 |  |  | $ | 81,326 |  |  | $ | 800 |  |  | $ | 90,152 |
Other current assets |  | 82,147 |  |  | 39,106 |  |  | 1,776 |  |  | 3,495 |  |  | 126,524 |
Non-current assets |  | 18,422 |  |  | 29,143 |  |  | 93,007 |  |  | 12,510 |  |  | 153,082 |
Total assets |  | $ | 107,128 |  |  | $ | 69,716 |  |  | $ | 176,109 |  |  | $ | 16,805 |  |  | $ | 369,758 |
Liabilities |  |  |  |  |  |  |  |  |  |
Contract liabilities |  | $ | 8,788 |  |  | $ | — |  |  | $ | 66,490 |  |  | $ | 4 |  |  | $ | 75,282 |
Other current liabilities (excluding current portion of long-term debt) |  | 21,858 |  |  | 38,397 |  |  | 11,967 |  |  | 1,415 |  |  | 73,637 |
Long-term debt (including current portion) |  | 17,900 |  |  | 26,180 |  |  | 89,295 |  |  | 5,906 |  |  | 139,281 |
Non-current liabilities |  | 4,778 |  |  | — |  |  | 612 |  |  | 531 |  |  | 5,921 |
Total liabilities |  | $ | 53,324 |  |  | $ | 64,577 |  |  | $ | 168,364 |  |  | $ | 7,856 |  |  | $ | 294,121 |
Net investments in affiliates and joint ventures |  | $ | 53,804 |  |  | $ | 5,139 |  |  | $ | 7,745 |  |  | $ | 8,949 |  |  | $ | 75,637 |
Statements of Operations
Year ended December 31, 2023 |  | Nuna |  | MNALP |  | Fargo |  | Other entities |  | Total
Revenue |  | $ | 165,741 |  |  | $ | 395,040 |  |  | $ | 117,543 |  |  | $ | 7,975 |  |  | $ | 686,299 |
Gross profit |  | 9,622 |  |  | 13,954 |  |  | 25,353 |  |  | 709 |  |  | 49,638 |
Income (loss) before taxes |  | 1,246 |  |  | 10,869 |  |  | 15,344 |  |  | (639) |  |  | 26,820 |
Net income (loss) |  | $ | 1,098 |  |  | $ | 10,869 |  |  | $ | 14,522 |  |  | $ | (674) |  |  | $ | 25,815 |
Year ended December 31, 2022 |  | Nuna |  | MNALP |  | Fargo |  | Other entities |  | Total
Revenue |  | $ | 213,745 |  |  | $ | 330,259 |  |  | $ | 40,598 |  |  | $ | 11,431 |  |  | $ | 596,033 |
Gross profit |  | 30,667 |  |  | 10,216 |  |  | 6,575 |  |  | 2,123 |  |  | 49,581 |
Income before taxes |  | 21,741 |  |  | 8,825 |  |  | 7,049 |  |  | 1,881 |  |  | 39,496 |
Net income |  | $ | 19,298 |  |  | $ | 8,825 |  |  | $ | 7,049 |  |  | $ | 1,881 |  |  | $ | 37,053 |
The following table provides the material aggregate outstanding balances with affiliates and joint ventures. Accounts payable and accrued liabilities due to joint ventures and affiliates do not bear interest, are unsecured and without fixed terms of repayment. Accounts receivable from certain joint ventures and affiliates bear interest at various rates, and all other accounts receivable amounts are non-interest bearing.
|  | December 31, 2023 |  | December 31, 2022
Accounts receivable |  | $ | 41,157 |  |  | $ | 65,294 |
Contract assets |  | 12,019 |  |  | — |
Other assets |  | 350 |  |  | 2,444 |
Accounts payable and accrued liabilities |  | 15,087 |  |  | 13,773 |

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