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Consolidated Statements of Cash Flows - CAD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities:    
Net income $ 44,085 $ 63,141
Adjustments to reconcile net income to cash from operating activities:    
Depreciation 166,683 131,319
Amortization of deferred financing costs 3,000 1,635
Loss on disposal of property, plant and equipment 767 1,659
Gain on derivative financial instruments (3,952) (6,063)
Stock-based compensation expense 8,706 15,828
Cash settlement of deferred share unit plan 0 (7,817)
Equity earnings in affiliates and joint ventures (15,299) (25,199)
Dividends and advances received from affiliates and joint ventures 7,336 19,330
Deferred income tax expense 19,230 15,981
Change in fair value of contingent obligations 53,206 8,268
Unrealized foreign currency loss (2,843) 7,699
Other adjustments to cash from operating activities 1,231 1,675
Net changes in non-cash working capital (64,543) 50,634
Total operating activities 217,607 278,090
Investing activities:    
Acquisition of MacKellar, net of cash acquired 0 (51,671)
Purchase of property, plant and equipment (280,144) (202,809)
Additions to intangible assets (4,199) (683)
Proceeds on disposal of property, plant and equipment 13,568 10,419
Buyout of BNA Remanufacturing LP, net of cash acquired (3,863) 0
Net payment on the wind up of affiliates and joint ventures 0 (387)
Net collections (advances) of loans with affiliates and joint ventures (4,060) (2,345)
Cash settlement of derivative financial instruments 4,015 2,597
Total investing activities (274,683) (244,879)
Financing activities:    
Proceeds from long-term debt 234,468 340,027
Repayment of long-term debt (130,338) (315,598)
Financing costs (1,036) (5,782)
Payments towards contingent obligations (39,689) (10,369)
Dividends paid (10,644) (10,034)
Share purchase program (4,311) 0
Purchase of treasury shares (2,466) (5,991)
Total financing activities 45,984 (7,747)
(Decrease) increase in cash (11,092) 25,464
Effect of exchange rate on changes in cash 353 (5,994)
Cash, beginning of year 88,614 69,144
Cash, end of year $ 77,875 $ 88,614