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Disclosure on the Group's Objectives, Policies and Processes for Managing Its Capital Structure | 12 Months Ended
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Dec. 31, 2022
Disclosure on the Group's Objectives, Policies and Processes for Managing Its Capital Structure |
Disclosure on the Group's Objectives, Policies and Processes for Managing Its Capital Structure | Note 3. Disclosure on the Group’s Objectives, Policies and Processes for Managing Its Capital Structure The Group’s objectives when managing capital are to: (a) safeguard the entity’s ability to continue as a going concern so that it can continue to provide returns for shareholders and benefits for other stakeholders; (b) provide an adequate return to shareholders by pricing products and services commensurately with the level of risk; and (c) maintain a flexible capital structure which optimizes the cost of capital at acceptable risk. The Group allocates capital in proportion to risk. The Group manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares, or issue new debt. Note 3. Disclosure on the Group’s Objectives, Policies and Processes for Managing Its Capital Structure (continued) Consistent with others in its industry, the Group monitors its capital on the basis of the debt-to-adjusted capital ratio and long-term debt-to-equity ratio. The debt-to-adjusted capital ratio is calculated as net debt divided by adjusted capital. Net debt is calculated as total debt less cash. Adjusted capital comprises all components of shareholders’ equity. The long-term debt-to-equity ratio is calculated as long-term debt divided by shareholders’ equity. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31: |  | 2022 |  | 2021
Total debt | ​ | $ | 35,538 | ​ | $ | 35,227
Less: cash | ​ |  | (63,717) | ​ |  | (54,873)
Net debt | ​ |  | Not applicable | ​ |  | Not applicable
Shareholders’ equity | ​ |  | 325,158 | ​ |  | 365,600
Net debt-to-adjusted capital ratio | ​ |  | Not applicable | ​ |  | Not applicable
​
​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31: |  | 2022 |  | 2021
Long-term debt | ​ | $ | 35,538 | ​ | $ | 35,227
Shareholders’ equity | ​ |  | 325,158 | ​ |  | 365,600
Long-term debt-to-equity ratio | ​ |  | 0.11 | ​ |  | 0.10
​ The above tables do not include: (i) a non-interest bearing long-term loan payable of $7,424 as at December 31, 2022 (2021: $6,817), which does not have a fixed repayment date; and (ii) long-term lease liabilities of $313 as at December 31, 2022 (2021: $476). During 2022, the Group’s strategy, which was unchanged from 2021, was to maintain the debt-to-adjusted capital ratio and the long-term debt-to-equity ratio at a manageable level. The ratios were stable between 2022 and 2021.

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- Definition The disclosure of information that enables users of financial statements to evaluate the entity's objectives, policies and processes for managing capital. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 134 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_134&doctype=Standard -URIDate 2022-03-24 + Details
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