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Financial Instruments and Management of Financial Risk | 12 Months Ended
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Feb. 28, 2025
Financial Instruments and Management of Financial Risk |
Financial Instruments and Management of Financial Risk | 8. Financial Instruments and Management of Financial Risk Carrying values and fair values The following table presents the fair value of the Company’s financial liabilities at February 28, 2025 and February 29, 2024:
|  | Fair Value at February 28, 2025 |
|  | Carrying Amount |  |  | Fair Value |  |  | Level in the hierarchy |
Financial liabilities measured at amortized cost: |  |  |  |  |  |  |  |  |
Long-term debt (Note 13) |  | $ | 3,085 |  |  | $ | 3,085 |  |  | Level 2 |
Due to customer (Note 10) |  | $ | 832 |  |  | $ | 832 |  |  | Level 2 |
|  | Fair Value as at February 29, 2024 |
|  | Carrying Amount |  |  | Fair Value |  |  | Level in the hierarchy |
Financial liabilities measured at amortized cost: |  |  |  |  |  |  |  |  |
Long-term debt (Note 13) |  | $ | 3,320 |  |  | $ | 3,377 |  |  | Level 2 |
Due to customer (Note 10) |  | $ | 770 |  |  | $ | 770 |  |  | Level 2 |
The fair value of cash and cash equivalents, accounts receivable, and accounts payable and accrued liabilities approximate their carrying values due to their short-term maturity. Currency Risk We are subject to risks associated with currency fluctuations, and changes in foreign currency exchange rates could impact our results of operations. We operate mainly through two entities, Loop Industries, Inc., which is a Nevada corporation and has a U.S. dollar functional currency, and our wholly-owned subsidiary, Loop Canada Inc. (“Loop Canada”), which is based in Terrebonne, Québec, Canada and has a Canadian dollar functional currency. Our reporting currency is the U.S. dollar. We mainly finance our operations through the sale and issuance of equity in U.S. dollars while our operations are concentrated in our wholly-owned subsidiary, Loop Canada. Accordingly, we are exposed to foreign exchange risk as we maintain bank accounts in U.S. dollars and a significant portion of our operational costs (including payroll, site costs, costs of locally sourced supplies and income taxes) are denominated in Canadian dollars. Significant fluctuations in U.S. dollar to Canadian dollar exchange rates could materially affect our result of operations, cash position and funding requirements. To the extent that fluctuations in currency exchange rates cause our results of operations to differ materially from our expectations or the expectations of our investors, the trading price of our common stock could be adversely affected.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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