XML 161 R141.htm IDEA: XBRL DOCUMENT v3.22.1
FINANCIAL INSTRUMENTS - Narrative (Details)
3 Months Ended 12 Months Ended
Jul. 30, 2021
USD ($)
Feb. 11, 2020
USD ($)
May 11, 2018
Jun. 30, 2020
USD ($)
Dec. 31, 2021
USD ($)
customer
Dec. 31, 2020
USD ($)
customer
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Disclosure of detailed information about financial instruments [line items]                
Borrowings         $ 555,261,000 $ 489,964,000    
Non-controlling interest put options, current         27,523,000 0    
Non-controlling interest put options, non-current         0 15,758,000    
Valuation adjustments         (12,007,000) (2,470,000) $ (3,339,000)  
Provisions and contingent consideration, current         4,504,000 4,222,000    
Provisions and contingent consideration, non-current         7,645,000 2,430,000    
Cash         26,292,000 16,467,000    
Loan availability         502,100,000      
Loan availability, committed funding         497,700,000      
Loan availability, uncommitted funding         4,400,000      
Total cash and loan availability         528,400,000 408,700,000    
Contingent consideration                
Disclosure of detailed information about financial instruments [line items]                
Contingent liabilities recognized in business combination         8,305,000 11,005,000    
2021 Senior Unsecured Notes                
Disclosure of detailed information about financial instruments [line items]                
Borrowings         395,614,000 0    
Fair value of debt         400,100,000      
2018 Senior Unsecured Notes                
Disclosure of detailed information about financial instruments [line items]                
Borrowings         $ 0 246,236,000    
Fair value of debt           $ 265,400,000    
Exchange risk                
Disclosure of detailed information about financial instruments [line items]                
Sensitivity analysis, exchange risk, reasonably possible strengthening in rate, percent         10.00% 10.00%    
Sensitivity analysis, exchange risk, reasonably possible weakening in rate, percent         10.00% 10.00%    
Exchange risk | Hedges of net investment                
Disclosure of detailed information about financial instruments [line items]                
Hedge ratio         1      
Interest rate risk                
Disclosure of detailed information about financial instruments [line items]                
Sensitivity analysis, exchange risk, reasonably possible strengthening in rate, percent         1.00% 1.00%    
Reasonably possible change in risk variable, impact on finance costs         $ 100,000 $ 1,000,000    
Credit risk | Interest rate swap agreements                
Disclosure of detailed information about financial instruments [line items]                
Hedge ratio         1      
Price risk                
Disclosure of detailed information about financial instruments [line items]                
Sensitivity analysis, reasonably possible increase in rate, percentage         10.00% 10.00%    
Sensitivity analysis, price risk, reasonably possible change in rate, increase in cost of sales         $ 75,000,000 $ 55,600,000    
Sensitivity analysis, reasonably possible decrease in rate, percentage         10.00% 10.00%    
Bottom of range | Exchange risk                
Disclosure of detailed information about financial instruments [line items]                
Sensitivity analysis, exchange risk, reasonably possible strengthening in rate, percent         10.00% 10.00%    
Financial liabilities at fair value through profit or loss, category                
Disclosure of detailed information about financial instruments [line items]                
Financial liabilities         $ 35,837,000 $ 15,758,000    
Financial liabilities at fair value through profit or loss, category | Non-controlling interest put options                
Disclosure of detailed information about financial instruments [line items]                
Financial liabilities         27,523,000 15,758,000    
Airtrax Acquisition | Financial liabilities at fair value through profit or loss, category | Non-controlling interest put options                
Disclosure of detailed information about financial instruments [line items]                
Financial liabilities               $ 10,900,000
Nortech Packaging Acquisition                
Disclosure of detailed information about financial instruments [line items]                
Contingent consideration   $ 10,806,000            
Contingent consideration, measurement period   2 years            
Contingent consideration liability fair value adjustment       $ 11,000,000        
Payment for contingent consideration liability         0      
Contingent consideration liabilities         0 0    
Undiscounted future net cash flows   $ 12,500,000     11,800,000 11,800,000    
Nortech Packaging Acquisition | Contingent consideration                
Disclosure of detailed information about financial instruments [line items]                
Contingent liabilities recognized in business combination   $ 10,800,000            
Nuevopak Global Limited                
Disclosure of detailed information about financial instruments [line items]                
Contingent consideration $ 8,305,000              
Contingent consideration liabilities         8,300,000      
Provisions and contingent consideration, current         3,300,000      
Provisions and contingent consideration, non-current         5,000,000      
Level 3 of fair value hierarchy | Non-controlling interest put options                
Disclosure of detailed information about financial instruments [line items]                
Financial liabilities         27,523,000 15,758,000 $ 13,634,000  
Valuation adjustments         $ 12,007,000 $ 2,470,000    
Level 3 of fair value hierarchy | Nortech Packaging Acquisition | Contingent consideration                
Disclosure of detailed information about financial instruments [line items]                
Discount rate applied on contingent consideration, measurement period   2 years            
Level 3 of fair value hierarchy | Nuevopak Global Limited | Bottom of range | Contingent consideration                
Disclosure of detailed information about financial instruments [line items]                
Discount rate applied on contingent consideration, measurement period 1 year              
Level 3 of fair value hierarchy | Nuevopak Global Limited | Top of range | Contingent consideration                
Disclosure of detailed information about financial instruments [line items]                
Discount rate applied on contingent consideration, measurement period 2 years              
Revenue | Credit risk | No Other Individual Customer                
Disclosure of detailed information about financial instruments [line items]                
Concentration of risk, percentage         5.00% 5.00%    
Revenue | Credit risk | Concentration Of Risk, Customer                
Disclosure of detailed information about financial instruments [line items]                
Concentration of risk, number of customers | customer         1 1    
Revenue | Credit risk | Concentration Of Risk, Customer | One Customer                
Disclosure of detailed information about financial instruments [line items]                
Concentration of risk, percentage         13.00% 13.00%    
Trade receivables | Credit risk                
Disclosure of detailed information about financial instruments [line items]                
Concentration of risk, number of customers | customer         1 1    
Trade receivables | Credit risk | No Other Individual Customer                
Disclosure of detailed information about financial instruments [line items]                
Concentration of risk, percentage         5.00% 5.00%    
Trade receivables | Credit risk | Concentration Of Risk, Customer | One Customer                
Disclosure of detailed information about financial instruments [line items]                
Concentration of risk, percentage         17.00% 17.00%    
Hedges of net investment | 2021 Senior Unsecured Notes                
Disclosure of detailed information about financial instruments [line items]                
Borrowings         $ 395,600,000      
Hedges of net investment | 2018 Senior Unsecured Notes                
Disclosure of detailed information about financial instruments [line items]                
Borrowings           $ 246,200,000    
Capstone | Airtrax Acquisition                
Disclosure of detailed information about financial instruments [line items]                
Proportion of ownership interests held by non-controlling interests     55.00%          
Capstone | Level 3 of fair value hierarchy | Non-controlling interest put options | Bottom of range                
Disclosure of detailed information about financial instruments [line items]                
Undiscounted cash flows         1,500,000 1,500,000    
Capstone | Level 3 of fair value hierarchy | Non-controlling interest put options | Top of range                
Disclosure of detailed information about financial instruments [line items]                
Undiscounted cash flows         $ 8,500,000 $ 5,000,000    
Capstone | Non-controlling interest | Airtrax Acquisition                
Disclosure of detailed information about financial instruments [line items]                
Lock-in period     5 years          
Discount rate | Level 3 of fair value hierarchy | Nortech Packaging Acquisition | Contingent consideration                
Disclosure of detailed information about financial instruments [line items]                
Discount rate applied to cash flow projections   0.0538            
Discount rate | Level 3 of fair value hierarchy | Nuevopak Global Limited | Contingent consideration                
Disclosure of detailed information about financial instruments [line items]                
Discount rate applied to cash flow projections 0.0474              
Discount rate | Capstone | Level 3 of fair value hierarchy | Non-controlling interest put options                
Disclosure of detailed information about financial instruments [line items]                
Discount rate applied to cash flow projections         0.11 0.11    
Gross carrying amount | 2021 Senior Unsecured Notes                
Disclosure of detailed information about financial instruments [line items]                
Borrowings         $ 400,000,000      
Gross carrying amount | Nortech Packaging Acquisition                
Disclosure of detailed information about financial instruments [line items]                
Contingent consideration   $ 12,000,000            
Gross carrying amount | Nortech Packaging Acquisition | Top of range                
Disclosure of detailed information about financial instruments [line items]                
Contingent consideration   $ 12,000,000            
Gross carrying amount | Nuevopak Global Limited                
Disclosure of detailed information about financial instruments [line items]                
Contingent consideration $ 9,000,000