Capital disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of Objectives, Policies and Processes for Managing Capital1 [Abstract]

Disclosure of key measurements used to monitor our capital position

Two key measurements used to monitor our capital position are total debt to total capital and net debt to total capital, calculated as follows:

	December 31,		December 31,
As at	2024		2023
Debt
Operating loans	$	—	$	—
Current and non-current lease obligation	29		39
Current and non-current debt	200		500
Derivative liabilities1	—		—
Open letters of credit1	36		43
Total debt	265		582
Shareholders’ equity	6,954		7,223
Total capital	$	7,219	$	7,805
Total debt to capital	4%		7%
Total debt	$	265	$	582
Cash and cash equivalents	(641)		(900)
Open letters of credit	(36)		(43)
Derivative liabilities	—		—
Cheques issued in excess of funds on deposit	—		—
Net debt	(412)		(361)
Shareholders’ equity	6,954		7,223
Total capital	$	6,542	$	6,862
Net debt to capital	(6%)		(5%)

1.Letters of credit facilities and the fair value of derivative liabilities are part of our bank covenants’ total debt calculation.