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Investments in affiliates and joint ventures (Tables)

12 Months Ended

Dec. 31, 2024

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		%
Barrooghumba WPH Pty Ltd.						50		%
Ngaliku WPH Pty Ltd.						50		%

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		%
Barrooghumba WPH Pty Ltd.						50		%
Ngaliku WPH Pty Ltd.						50		%

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

						December 31, 2024						December 31, 2023
Balance, beginning of the year						$	81,435					$	75,637
Additions arising from the acquisition of MacKellar						—						85
Share of net income						15,299						25,199
Dividends and advances received from affiliates and joint ventures						(7,336)						(21,543)
Derecognition of BNA(i)						(4,061)						—
Intercompany eliminations and other						(645)						2,057
Balance, end of the year						$	84,692					$	81,435

(i) On October 31, 2024, NACG acquired the remaining 50% interest in BNA Remanufacturing Limited Partnership for $4,210 from BSC Holdings, ULC, resulting in 100% ownership, with no material impact on NACG's financial statements.

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, 2024						Nuna						MNALP						Fargo						Other entities						Total
Assets
Cash						$	1,518					$	3,197					$	78,346					$	364					$	83,425
Other current assets						36,053						43,424						5,342						1,899						86,718
Non-current assets						18,198						34,393						270,763						7,439						330,793
Total assets						$	55,769					$	81,014					$	354,451					$	9,702					$	500,936
Liabilities
Contract liabilities						$	2,311					$	—					$	69,683					$	4					$	71,998
Other current liabilities (excluding current portion of long-term debt)						6,045						37,401						30,528						1,900						75,874
Long-term debt (including current portion)						7,508						30,221						219,516						6,021						263,266
Non-current liabilities						4,765						—						341						—						5,106
Total liabilities						$	20,629					$	67,622					$	320,068					$	7,925					$	416,244
Net investments in affiliates and joint ventures						$	35,140					$	13,392					$	34,383					$	1,777					$	84,692

December 31, 2023						Nuna						MNALP						Fargo(i)						Other entities						Total
Assets
Cash						$	9,944					$	4,184					$	87,418					$	222					$	101,768
Other current assets						34,937						36,060						23,284						4,593						98,874
Non-current assets						23,884						37,103						154,090						10,434						225,511
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

(i) For December 31, 2023, the Company reclassified $18,728 from non-current assets to other current assets to align with a presentation change made by the equity investee in the current year.

Statements of Operations

Year ended December 31, 2024						Nuna						MNALP						Fargo						Other entities						Total
Revenue						$	56,994					$	294,522					$	152,784					$	12,837					$	517,137
Gross profit						4,045						10,264						33,965						1,181						49,455
(Loss) income before taxes						(3,764)						7,347						10,150						938						14,671
Net (loss) income						$	(3,086)					$	7,347					$	10,150					$	888					$	15,299

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						(1,255)						26,204
Net income (loss)						$	1,098					$	10,869					$	14,522					$	(1,290)					$	25,199

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, 2024						December 31, 2023
Accounts receivable						$	73,928					$	41,157
Contract assets						2,619						12,019
Other assets						112						350
Accounts payable						12,660						3,203
Accrued liabilities						9,070						11,884

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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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