LONG-TERM DEBT AND CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2021

LONG-TERM DEBT AND CREDIT FACILITIES

Schedule of long-term debt

		December 31, 2021								December 31, 2020
				Deferred
		Nominal		Financing		Carrying		Fair		Carrying		Fair
	Interest Rates	Amount		Costs		Amount (a)		Value (b)		Amount (a)		Value (b)
Senior notes	(i) 4.50%-6.875%	$	1,248.2	$	(6.3)	$	1,241.9	$	1,432.7	$	1,739.8	$	1,999.5
Revolving credit facility	(ii) LIBOR plus 1.45%		200.0		—	$	200.0		200.0		—		—
Tasiast loan	(iii) LIBOR plus 4.380%		200.0		(12.0)	$	188.0		200.0		184.1		200.0
Total long-term and current debt		$	1,648.2	$	(18.3)	$	1,629.9	$	1,832.7	$	1,923.9	$	2,199.5
Less: current portion			(40.0)		—		(40.0)		—		(499.7)		(509.3)
Long-term debt and credit facility		$	1,608.2	$	(18.3)	$	1,589.9	$	1,832.7	$	1,424.2	$	1,690.2

(a) Includes transaction costs on senior notes and Tasiast loan financings.

(b) The fair value of senior notes is primarily determined using quoted market determined variables. See Note 10(c).

Schedule of scheduled debt repayments

											2027 and
	2022		2023		2024		2025		2026		thereafter		Total
Senior notes	$	—	$	—	$	500.0	$	—	$	—	$	750.0	$	1,250.0
Revolving credit facility		—		—		—		—		200.0		—		200.0
Tasiast loan		40.0		36.0		32.0		4.0		16.0		72.0		200.0
Total debt payable	$	40.0	$	36.0	$	532.0	$	4.0	$	216.0	$	822.0	$	1,650.0

Schedule of interest charges and fees

a
Type of credit
Revolving credit facility	LIBOR plus		1.45	%
Letters of credit	0.967	-	1.45	%
Standby fee applicable to unused availability			0.290	%

Schedule of changes in liabilities arising from financing activities

	Long-term debt		Lease		Accrued interest
	and credit facilities		liabilities		payable(a)		Total
Balance as at January 1, 2021	$	1,923.9	$	74.7	$	33.7	$	2,032.3
Changes from financing cash flows
Debt issued		200.0		—		—		200.0
Debt repayments		(500.0)		—		—		(500.0)
Interest paid		—		—		(46.9)		(46.9)
Payment of lease liabilities		—		(33.8)		—		(33.8)
		1,623.9		40.9		(13.2)		1,651.6
Other changes
Interest expense and accretion	$	—	$	3.8	$	67.7	$	71.5
Capitalized interest		—		—		48.3		48.3
Capitalized interest paid		—		—		(51.1)		(51.1)
Additions of lease liabilities		—		10.2		—		10.2
Other		6.0		(0.1)		(26.4)		(20.5)
		6.0		13.9		38.5		58.4
Balance as at December 31, 2021	$	1,629.9	$	54.8	$	25.3	$	1,710.0

(a) Included in Accounts payable and accrued liabilities.

	Long-term debt		Lease		Accrued interest
	and credit facilities		liabilities		payable (a)		Total
Balance as at January 1, 2020	$	1,837.4	$	54.9	$	33.3	$	1,925.6
Changes from financing cash flows
Debt issued		950.0		—		—		950.0
Debt repayments		(850.0)		—		—		(850.0)
Interest paid		—		—		(63.1)		(63.1)
Payment of lease liabilities		—		(20.7)		—		(20.7)
		1,937.4		34.2		(29.8)		1,941.8
Other changes
Interest expense and accretion	$	—	$	3.0	$	86.6	$	89.6
Capitalized interest		—		—		49.1		49.1
Capitalized interest paid		—		—		(47.9)		(47.9)
Additions of lease liabilities		—		38.2		—		38.2
Other		(13.5)		(0.7)		(24.3)		(38.5)
		(13.5)		40.5		63.5		90.5
Balance as at December 31, 2020	$	1,923.9	$	74.7	$	33.7	$	2,032.3

(a) Included in Accounts payable and accrued liabilities.