CAPITAL AND FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2023

CAPITAL AND FINANCIAL RISK MANAGEMENT

Schedule of target total debt to total debt and common shareholders' equity ratio

	December 31,			December 31,
	2023			2022
Long-term debt and credit facilities	$	2,232.6		$	2,556.9
Current portion of long-term debt and credit facilities		—			36.0
Total debt	$	2,232.6		$	2,592.9
Common shareholders’ equity	$	6,083.7		$	5,823.7
Total debt / total debt and common shareholders’ equity ratio		26.8	%		30.8	%
Company target		0-30	%		0 - 30	%

Currency risk

CAPITAL AND FINANCIAL RISK MANAGEMENT

Schedule of risk management

			10% strengthening in		10% weakening in
			U.S. dollar		U.S. dollar
	Foreign currency net		Effect on earnings before		Effect on earnings before
	working capital		taxes, gain (loss)(a)		taxes, gain (loss)(a)
Canadian dollar	$	(39.3)	$	3.6	$	(4.4)
Brazilian real	$	(184.9)	$	16.8	$	(20.5)
Chilean peso	$	2.0	$	(0.2)	$	0.2
Mauritanian ouguiya	$	(0.9)	$	0.1	$	(0.1)
Other(b)	$	(1.5)	$	0.1	$	(0.2)

(a) As described in Note 3ii, the Company translates its monetary assets and liabilities into U.S. dollars at the rates of exchange at the consolidated balance sheet dates. Gains and losses on translation of foreign currencies are included in earnings.

(b) Includes Euro, British pound, Australian dollar and South African Rand.

	10% strengthening in		10% weakening in
	U.S. dollar		U.S. dollar
	Effect on OCI before		Effect on OCI before
	taxes, (loss)(a)		taxes, gain(a)
Canadian dollar	$	(8.8)	$	10.7
Brazilian real	$	(5.6)	$	9.6
Chilean peso	$	(5.3)	$	6.9

(a) Upon maturity of these contracts, the amounts in OCI before taxes will reverse against hedged items that the contracts relate to, which may be to earnings or property, plant and equipment.

Energy price risk

CAPITAL AND FINANCIAL RISK MANAGEMENT

Schedule of risk management

	10% increase in		10% decrease in
	price		price
	Effect on OCI before		Effect on OCI before
	taxes, gain(a)		taxes, (loss)(a)
WTI oil	$	8.0	$	(9.3)

(a) Upon maturity of these contracts, the amounts in OCI before taxes will reverse against hedged items that the contracts relate to, which may be to earnings or property, plant and equipment.

Liquidity risk

CAPITAL AND FINANCIAL RISK MANAGEMENT

Schedule of risk management

			2024		2025-2028		2029+
	Total		Within 1 year(b)		2 to 5 years		More than 5 years
Long-term debt(a)	$	3,047.8	$	141.4	$	1,776.7	$	1,129.7

(a) Includes the face value of the senior notes, term loan and estimated interest.

(b) Represents estimated interest on the senior notes and term loan, due within the next 12 months.