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Financial Instruments and Risk Management (Tables)
 12 Months Ended
Dec. 31, 2018
Financial Instruments [Abstract]  
Disclosure of Detailed Information about Cash and Cash Equivalents
Cash and cash equivalents are comprised of the following:
 
December 31
 
2017
 
2018
Cash................................................................................................................................................
$
401.5

 
$
409.1

Cash equivalents.............................................................................................................................
113.7

 
12.9

 
$
515.2

 
$
422.0
Disclosure of Risks from Financial Instruments
The local currency amounts have been converted to U.S. dollar equivalents using spot rates at December 31, 2018.
 
Canadian
dollar
 
Romanian Leu
 
Euro
 
Thai baht
 
Chinese renminbi
Cash and cash equivalents
$
4.1

 
$
0.4

 
$
8.2

 
$
2.3

 
$
16.3

Accounts receivable
1.6

 
—

 
42.5

 
1.7

 
12.4

Income taxes and value-added taxes receivable
16.5

 
0.8

 
13.4

 
3.3

 
12.3

Other financial assets
—

 
0.8

 
1.7

 
0.5

 
0.8

Pension and non-pension post-employment liabilities
(70.6
)
 
—

 
(0.5
)
 
(13.6
)
 
(1.0
)
Income taxes and value-added taxes payable
(0.1
)
 
—

 
(0.3
)
 
(1.2
)
 
—

Accounts payable and certain accrued and other liabilities and provisions
(52.4
)
 
(12.9
)
 
(45.8
)
 
(18.9
)
 
(27.0
)
 
 
 
 
 
 
 
 
 
 
Net financial assets (liabilities)
$
(100.9
)
 
$
(10.9
)
 
$
19.2

 
$
(25.9
)
 
$
13.8
Disclosure of Foreign Currency Risk Analysis
The financial impact of a one-percentage point strengthening or weakening of the following currencies against the U.S. dollar for our financial instruments denominated in such non-functional currencies is summarized in the following table as at December 31, 2018. The financial instruments impacted by a change in exchange rates include our exposures to the above financial assets or liabilities denominated in non-functional currencies and our foreign exchange forward contracts and swaps.
 
Canadian
dollar
 
Romanian Leu
 
Euro
 
Thai baht
 
Chinese renminbi
 
Increase (decrease)
1% Strengthening
 
 
 
 
 
 
 
 
 
Net earnings
$
—

 
$
(0.1
)
 
$
(0.1
)
 
$
(0.1
)
 
$
0.1

Other comprehensive income
1.0

 
0.4

 
0.1

 
0.7

 
0.6

1% Weakening
 
 
 
 
 
 


 
 
Net earnings
—

 
0.1

 
0.1

 
0.1

 
(0.1
)
Other comprehensive income
(1.0
)
 
(0.4
)
 
(0.1
)
 
(0.7
)
 
(0.6
)
Disclosure of Fair Value Measurement of Assets
In the table below, we have segregated our financial assets and liabilities that are measured at fair value, based on the inputs used to determine fair value at the measurement date. The three levels within the fair value hierarchy, based on the reliability of inputs, are as follows:
•
level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;
•
level 2 inputs are inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly (i.e. prices) or indirectly (i.e. derived from prices); and
•
level 3 inputs are inputs for the asset or liability that are not based on observable market data (i.e. unobservable inputs).
 
December 31, 2017
 
 
December 31, 2018
 
 
Level 1
 
Level 2
 
 
Level 1
 
Level 2
 
Assets:
 
 
 
 
 
 
 
 
 
Foreign currency forwards and swaps
$
—

 
$
12.9

 
 
$
—

 
$
2.1

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
—

 
$
—

 
 
$
—

 
$
(4.4
)
 
Foreign currency forwards and swaps
—

 
(2.6
)
 
 
—

 
(16.3
)
 
 
$
—

 
$
(2.6
)
 
 
$
—

 
$
(20.7
)
 
Disclosure of Fair Value Measurement of Liabilities
In the table below, we have segregated our financial assets and liabilities that are measured at fair value, based on the inputs used to determine fair value at the measurement date. The three levels within the fair value hierarchy, based on the reliability of inputs, are as follows:
•
level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;
•
level 2 inputs are inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly (i.e. prices) or indirectly (i.e. derived from prices); and
•
level 3 inputs are inputs for the asset or liability that are not based on observable market data (i.e. unobservable inputs).
 
December 31, 2017
 
 
December 31, 2018
 
 
Level 1
 
Level 2
 
 
Level 1
 
Level 2
 
Assets:
 
 
 
 
 
 
 
 
 
Foreign currency forwards and swaps
$
—

 
$
12.9

 
 
$
—

 
$
2.1

 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
—

 
$
—

 
 
$
—

 
$
(4.4
)
 
Foreign currency forwards and swaps
—

 
(2.6
)
 
 
—

 
(16.3
)
 
 
$
—

 
$
(2.6
)
 
 
$
—

 
$
(20.7
)
 
Disclosure of Derivatives and Hedging Activities
At December 31, 2018 and 2017, we had foreign exchange forwards and swaps to trade U.S. dollars in exchange for the following currencies:
As at December 31, 2018
Currency
Contract amount
of U.S. dollars
Weighted average
exchange rate
in U.S. dollars
Maximum
period in
months
Fair value
gain/(loss)
Canadian dollar
$
210.2

$
0.76

12
$
(10.3
)
Thai baht
81.1

0.03

12
(0.7
)
Malaysian ringgit
53.4

0.24

12
(0.8
)
Mexican peso
25.6

0.05

12
0.2

British pound
5.3

1.27

4
—

Chinese renminbi
66.8

0.15

12
(1.6
)
Euro
35.8

1.17

12
0.3

Romanian leu
40.4

0.25

12
(0.9
)
Singapore dollar
22.1

0.74

12
(0.3
)
Other
3.5

0.01

1
(0.1
)
Total
$
544.2

 
 
$
(14.2
)
 
 
 
 
 
As at December 31, 2017
Currency
Contract amount
of U.S. dollars
Weighted average
exchange rate
in U.S. dollars
Maximum
period in
months
Fair value
gain/(loss)
Canadian dollar
$
204.8

0.80

12
$
4.1

Thai baht
79.0

0.03

12
2.2

Malaysian ringgit
48.4

0.23

12
2.6

Mexican peso
29.3

0.05

12
(0.9
)
British pound
56.4

1.34

3
(0.5
)
Chinese renminbi
71.6

0.15

12
1.5

Euro
28.7

1.19

12
0.1

Romanian leu
28.4

0.25

12
0.6

Singapore dollar
25.0

0.73

12
0.6

Other
4.5

 
 
—

Total
$
576.1

 
 
$
10.3