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Financial instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Financial Instruments [Abstract]  
Schedule of fair value measurement of assets
The following table provides the carrying value of each category of financial assets and liabilities and the related balance sheet item:
As at
Dec 31
2025		Dec 31
2024
Financial assets:
Financial assets measured at fair value:
Derivative instruments designated as cash flow hedges 1
$106,998 $128,414 
Fair value of gas contract derivatives 2
25,043 $23,054 
Financial assets not measured at fair value:
Cash and cash equivalents
425,331 891,910 
Trade and other receivables, excluding tax receivable
439,350 454,278 
Restricted cash included in other assets
15,317 14,305 
Total financial assets 3
$1,012,039 $1,511,961 
Financial liabilities:
Financial liabilities measured at fair value:
Derivative instruments designated as cash flow hedges 1
$36,106 $36,811 
Financial liabilities not measured at fair value:
Trade, other payables and accrued liabilities, excluding tax payable
479,499 429,737 
Lease obligations, including current portion755,183 818,205 
Long-term debt, including current portion
2,752,900 2,414,935 
Land mortgage26,920 27,483 
Total financial liabilities
$4,050,608 $3,727,171 
1     The North America natural gas hedges and euro foreign currency hedges designated as cash flow hedges are measured at fair value based on industry accepted valuation models and inputs obtained from active markets.
2 The Company has several natural gas supply contracts measured at fair value which are classified within Level 3 of the fair value hierarchy.
3 The carrying amount of the financial assets represents the maximum exposure to credit risk at the respective reporting periods.
Schedule of fair value measurement of liabilities
The following table provides the carrying value of each category of financial assets and liabilities and the related balance sheet item:
As at
Dec 31
2025		Dec 31
2024
Financial assets:
Financial assets measured at fair value:
Derivative instruments designated as cash flow hedges 1
$106,998 $128,414 
Fair value of gas contract derivatives 2
25,043 $23,054 
Financial assets not measured at fair value:
Cash and cash equivalents
425,331 891,910 
Trade and other receivables, excluding tax receivable
439,350 454,278 
Restricted cash included in other assets
15,317 14,305 
Total financial assets 3
$1,012,039 $1,511,961 
Financial liabilities:
Financial liabilities measured at fair value:
Derivative instruments designated as cash flow hedges 1
$36,106 $36,811 
Financial liabilities not measured at fair value:
Trade, other payables and accrued liabilities, excluding tax payable
479,499 429,737 
Lease obligations, including current portion755,183 818,205 
Long-term debt, including current portion
2,752,900 2,414,935 
Land mortgage26,920 27,483 
Total financial liabilities
$4,050,608 $3,727,171 
1     The North America natural gas hedges and euro foreign currency hedges designated as cash flow hedges are measured at fair value based on industry accepted valuation models and inputs obtained from active markets.
2 The Company has several natural gas supply contracts measured at fair value which are classified within Level 3 of the fair value hierarchy.
3 The carrying amount of the financial assets represents the maximum exposure to credit risk at the respective reporting periods.
The carrying values of the Company’s financial instruments approximate their fair values, except as follows:
As at
December 31, 2025December 31, 2024
Carrying
value
Fair
value
Carrying
value
Fair
value
Long-term debt excluding deferred financing fees
$2,774,163$2,775,744$2,437,286$2,348,705
Schedule of fair value, natural gas forward contracts and cash flow hedges and excluded forward element
As atDec 31
2025		Dec 31
2024
Maturities2026-20342025-2032
Notional quantity 1
306,910 310,520 
Notional quantity per day 1
40 - 220
50 - 210
Notional amount$1,043,422 $1,048,973 
Net fair value$71,022 $89,632 
1    In thousands of Million British Thermal Units (MMBtu)

Information regarding the gross amounts of the Company's natural gas forward contracts designated as cash flow hedges in the audited consolidated statements of financial position is as follows:
As atDec 31
2025		Dec 31
2024
Other current assets$32,186 $25,760 
Other non-current assets74,811 100,683 
Other current liabilities(8,026)(14,708)
Other long-term liabilities(27,949)(22,103)
Net fair value$71,022 $89,632 
Information regarding the impact of changes in cash flow hedges and cost of hedging reserve in the consolidated statement of comprehensive income is as follows:
For the years ended December 3120252024
Change in fair value of cash flow hedges$140,222 $187,921 
Forward element excluded from hedging relationships(163,477)(211,132)
$(23,255)$(23,211)
Schedule of fair value, level 2 maturity profile
The table below shows the nominal cash outflows for derivative hedging instruments including natural gas forward contracts and forward exchange contracts, excluding credit risk adjustments, based upon contracted settlement dates. The amounts reflect the maturity profile of the hedging instruments and are subject to change based on the prevailing market rate at each of the future settlement dates. Financial asset derivative positions, if any, are held with investment-grade counterparties and therefore the settlement day risk exposure is considered to be negligible.
As at
Dec 31
2025		Dec 31
2024
Within one year
$8,130 $15,038 
1-3 years
5,206 5,808 
3-5 years
3,059 4,330 
More than 5 years
29,037 20,459 
$45,432 $45,635 
Schedule of fair value, level 3 inputs and the sensitivities, valuation to changes
The table presents the Level 3 inputs and the sensitivities of the Monte-Carlo model valuation to changes in these inputs:
Sensitivities
Valuation inputInput value or rangeChange in inputResulting change in valuation
Methanol price volatility (before impact of mean reversion)
33%
+/- 5%
$+/-6 million
Methanol price forecast
Regional pricing relevant to term of contract
+/- $25 per MT
$-5/+6 million
Discount rate
6.9%
+/- 1%
$+/-1 million