Financial instruments and related risk management (Tables)

12 Months Ended

Dec. 31, 2023

Fair value measurement, carrying amounts:

Pre-tax exposure to foreign currency exchange risk

Carrying value

Currency

(Cdn)

Gain (loss)

Cash and cash equivalents

USD

$

144,149

$

7,207

Accounts receivable

USD

371,618

18,581

Accounts payable and accrued liabilities

USD

(302,364)

(15,118)

Long-term debt

USD

(786,397)

(39,320)

Net foreign currency derivatives

USD

11,942

(102,567)

Interest rate risk on variable rate financial instruments

Gain (loss)

Interest rate contracts

$

(760)

Floating rate term loan

(7,946)

Counterparty credit risk, as represented by the carrying amount of the financial assets

2023

2022

Cash and cash equivalents

$

566,809

$

1,143,674

Short-term investments

-

1,138,174

Accounts receivable [note 7]

415,561

178,088

Derivative assets [note 11]

28,467

2,807

Exposure to credit risk for trade receivables

Carrying

value

Investment grade credit rating

$

290,204

Non-investment grade credit rating

123,588

Total gross carrying amount

$

413,792

Loss allowance

-

Net

$

413,792

Aged trade receivables

Corporate

Other

customers

customers

Total

Current (not past due)

$

393,296

$

2,366

395,662

1-30 days past due

16,531

889

17,420

More than 30 days past due

131

579

710

Total

$

409,958

$

3,834

413,792

Liquidity risk, company's available debt facilities

The table below outlines the Company’s available debt facilities at December 31, 2023:

Outstanding and

Total amount

 committed

 Amount available

Unsecured revolving credit facility [note 14]

$

1,000,000

$

-

$

1,000,000

Letter of credit facilities [note 14]

1,771,663

1,383,689

387,974

Maturity analysis of financial liabilities

The tables below present a maturity analysis of Cameco’s financial liabilities, including principal and interest, based on the

expected cash flows from the reporting date to the contractual maturity date:

Due in

Carrying

Contractual

 less than

Due in 1-3

Due in 3-5

Due after 5

 amount

 cash flows

 1 year

 years

 years

 years

Accounts payable and accrued liabilities

$

577,550

$

577,550

$

577,550

$

-

$

-

$

-

Long-term debt

1,784,174

1,794,580

500,000

794,580

400,000

100,000

Foreign currency contracts

16,525

16,525

11,762

4,763

-

-

Interest rate contracts

5,819

5,819

2,576

2,437

806

-

Lease obligation [note 15]

10,816

12,937

2,300

3,332

2,617

4,688

Total contractual repayments

$

2,394,884

$

2,407,411

$

1,094,188

$

805,112

$

403,423

$

104,688

Due in

 less than

Due in 1-3

Due in 3-5

Due after 5

Total

 1 year

 years

 years

 years

Total interest payments on long-term debt

$

299,775

$

85,322

$

121,213

$

21,980

$

71,260

Carrying amounts and accounting classifications

At December 31, 2023

FVTPL

Amortized

cost

Total

Financial assets

Cash and cash equivalents

$

-

$

566,809

$

566,809

Accounts receivable [note 7]

-

422,333

422,333

Derivative assets [note 11]

Foreign currency contracts

28,467

-

28,467

$

28,467

$

989,142

$

1,017,609

Financial liabilities

Accounts payable and accrued liabilities [note 13]

$

-

$

577,550

$

577,550

Current portion of long-term debt [note 14]

-

499,821

499,821

Lease obligation [note 15]

-

10,816

10,816

Derivative liabilities [note 15]

Foreign currency contracts

16,525

-

16,525

Interest rate contracts

5,819

-

5,819

Long-term debt [note 14]

-

1,284,353

1,284,353

22,344

2,372,540

2,394,884

Net

$

6,123

$

(1,383,398)

$

(1,377,275)

At December 31, 2022

FVTPL

Amortized

cost

Total

Financial assets

Cash and cash equivalents

$

-

$

1,143,674

$

1,143,674

Short-term investments

-

1,138,174

1,138,174

Accounts receivable [note 7]

-

183,944

183,944

Derivative assets [note 11]

Foreign currency contracts

2,807

-

2,807

$

2,807

$

2,465,792

$

2,468,599

Financial liabilities

Accounts payable and accrued liabilities [note 13]

$

-

$

374,714

$

374,714

Lease obligation [note 15]

-

9,287

9,287

Derivative liabilities [note 15]

Foreign currency contracts

51,058

-

51,058

Interest rate contracts

7,284

-

7,284

Long-term debt [note 14]

-

997,000

997,000

58,342

1,381,001

1,439,343

Net

$

(55,535)

$

1,084,791

$

1,029,256

Carrying amounts and level 2 fair value measurement

As at December 31, 2023

Carrying value

Fair value

Derivative assets [note 11]

Foreign currency contracts

$

28,467

$

28,467

Current portion of long-term debt [note 14]

(499,821)

(500,000)

Derivative liabilities [note 15]

Foreign currency contracts

(16,525)

(16,525)

Interest rate contracts

(5,819)

(5,819)

Long-term debt [note 14]

(1,284,353)

(1,303,681)

Net 

$

(1,778,051)

$

(1,797,558)

As at December 31, 2022

Carrying value

Fair value

Derivative assets [note 11]

Foreign currency contracts

$

2,807

$

2,807

Derivative liabilities [note 15]

Foreign currency contracts

(51,058)

(51,058)

Interest rate contracts

(7,284)

(7,284)

Long-term debt [note 14]

(997,000)

(1,014,010)

Net

$

(1,052,535)

$

(1,069,545)

Fair value of derivative instruments and classification

2023

2022

Non-hedge derivatives:

Foreign currency contracts

$

11,942

$

(48,251)

Interest rate contracts

(5,819)

(7,284)

Net

$

6,123

$

(55,535)

Classification:

Current portion of long-term receivables, investments and other [note 11]

$

9,137

$

1,331

Long-term receivables, investments and other [note 11]

19,330

1,476

Current portion of other liabilities [note 15]

(14,338)

(25,913)

Other liabilities [note 15]

(8,006)

(32,429)

Net

$

6,123

$

(55,535)

Summary of components of non-hedge derivative gains losses

The following table summarizes the different components of the gains (losses) on derivatives included in net earnings:

2023

2022

Non-hedge derivatives:

Foreign currency contracts

$

38,975

$

(66,360)

Interest rate contracts

(1,184)

(6,589)

Net

$

37,791

$

(72,949)