Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Detailed Information About Components Of Tax Expense Income


	2022			2021
(Loss) income before income taxes	$	(98,407)		$	535,035
Combined Canadian federal and provincial income tax rate	27		%	27		%
Expected income tax (recovery) expense	(26,570)			144,459
Non-taxable income and non-deductible expenses	5,640			(52,405)
Impact of tax rate differences between jurisdictions	5,213			(31,941)
Tax effect of temporary differences for which no tax benefit has been recognized	33,505			(39,843)
Change in estimates of prior year	2,750			(2,981)
Change in fair value of derivative liabilities	8,392			(11,312)
Impact of US percentage depletion	—			(10,114)
Impact of Mexican inflation	(7,772)			(3,024)
Foreign exchange and other	(13,538)			(12,693)
Total income tax expense (recovery)	$	7,620		$	(19,854)

Comprising:
Current tax expense	$	23,515		$	25,163
Deferred tax recovery	(15,895)			(45,017)
	$	7,620		$	(19,854)

Disclosure Of Detailed Information About Net Deferred Tax Assets And Liabilities

The significant components of the Company’s recognized deferred income tax assets and deferred income tax liabilities at December 31, 2022 and 2021 were as follows:


	2022		2021
Non-capital losses	$	49,821	$	62,419
Deductible temporary differences relating to:
Mineral properties, plant and equipment	19,085		75,259
Inventories	33,044		31,847
Reclamation and closure cost provisions	9,057		16,023
Mining tax	9,992		10,717
Accrued liabilities	12,399		10,650
Investments and loans and borrowings	6,366		11,701
Suspended interest deduction	4,176		4,604
Other	2,310		7,396
Total deferred income tax assets	$	146,250	$	230,616
Taxable temporary differences relating to:
Mineral properties, plant and equipment	$	(380,081)	$	(502,436)
Marketable securities	(1,033)		(30,227)

Derivatives	(6,590)		(7,174)
Intercompany loan	(8,823)		(6,898)
Other	(10,441)		(3,587)
Total deferred income tax liabilities	(406,968)		(550,322)
Net deferred income tax liability	$	(260,718)	$	(319,706)

Presented as:
Deferred income tax assets	$	—	$	10,576
Deferred income tax liabilities	(260,718)		(312,198)
Deferred income tax liabilities relating to assets held for sale (note 5(a))	—		(18,084)
	$	(260,718)	$	(319,706)

Disclosure of Detailed Information About In Deferred Tax Assets And Liabilities Explanatory

The movements in the Company’s net deferred income tax liability during the years ended December 31, 2022 and 2021 were as follows:


	2022		2021
Balance – beginning of year	$	(319,706)	$	(229,860)
Recognized in net (loss) income	15,895		45,017
Disposition of subs	18,084		—
Recognized in OCI	25,009		(12,932)
Assumed in Premier Acquisition (note 5(c))	—		(121,931)
Balance – end of year	$	(260,718)	$	(319,706)

Disclosure Of Detailed Information About Deductible Temporary Differences Unused Tax Losses And Unused Tax Credits For Which Deferred Tax Assets Not Recognized

The Company’s deductible temporary differences, unused tax losses and unused tax credits at December 31, 2022 and 2021 for which deferred income tax assets have not been recognized were as follows:


	2022		2021
Deductible temporary differences relating to:
Mineral properties, plant and equipment	$	43,215	$	430,274
Investments and loans and borrowings	66,450		322,272
Derivatives	10,010		8,276
Reclamation and closure cost provisions	77,160		41,164
Inventories	4,473		—
Share issue and finance costs	—		1,176
Other	33,030		14,970
Non-capital losses	325,065		449,984
Capital losses	34,381		10,689
State alternative minimum tax credit	—		7,434
	$	593,784	$	1,286,239

Disclosure Of Detailed Information About Non Capital Loss Applied To Reduce Future Taxable Income

The loss carryforwards expire as follows:


	2022
Canada (expire between 2035–2042)	$	276,252
United States - California (expire between 2030–2040 or after)	95,365
Mexico (expire between 2025–2032)	53,192
Brazil (no expiry)	125,233
	$	550,042