Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes [Abstract]

Schedule of Income Tax Expense

For the years ended December 31,	2024			2023		2022
Current tax expense (recovery)	$	50,943		$	75,780	$	77,645
Deferred tax expense (recovery)		(63,980	)		13,816		(26,236	)
Tax expense (recovery)	$	(13,037	)	$	89,596	$	51,409

Schedule of Reconciliation of the Statutory Income Tax Rate

A reconciliation of the statutory income tax rate, which is a composite of Canadian federal and provincial rates, to the effective income tax rate was as follows:

For the years ended December 31,	2024			2023			2022
Net income (loss) before taxes	$	(315,503	)	$	672,866		$	(30,188	)
Multiplied by the statutory income tax rates		26.39	%		26.40	%		26.44	%
		(83,261	)		177,637			(7,982	)
Income tax recorded at rates different from the Canadian tax rate		(12,266	)		(11,518	)		(11,774	)
Permanent differences		6,361			(71,741	)		35,298
Effect on deferred tax balances due to changes in income tax rates		(86	)		(407	)		1,870
Effect of temporary differences not recognized as deferred tax assets		77,948			(4,661	)		32,654
Foreign taxes		8,866			—			—
Taxes related to prior periods		6			(2,152	)		2,072
Impact of foreign exchange		(10,883	)		2,436			(731	)
Other		278			2			2
Tax expense (recovery)	$	(13,037	)	$	89,596		$	51,409
Effective income tax rate		4.13	%		13.32	%		(170.30	)%

Schedule of Carrying Amounts of Assets and Liabilities

The tax effects of temporary differences between the carrying amounts of assets and liabilities for accounting purposes and the amounts used for tax purposes are presented below:

As at December 31,	2024		2023
Deferred tax assets
Foreign tax credits	$	2,692	$	2,999
Corporate interest restriction		—		7,397
Financing charges		—		4,412
Deferred revenue		5,783		7,249
Loss carry forwards		44,309		43,520
Reserves		1,363		1,467
Other		2,302		872
Total deferred tax assets	$	56,449	$	67,916

As at December 31,	2024			2023
Deferred tax liabilities
Capital assets	$	(46,149	)	$	(76,376	)
Intangible assets		(174,514	)		(222,159	)
Financing charges		(7,511	)		—
Employee benefits		(760	)		(1,674	)
Total deferred tax liabilities		(228,934	)		(300,209	)
Deferred tax liabilities, net	$	(172,485	)	$	(232,293	)