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Financial Instruments and Financial Risk Management (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure of risk management strategy related to hedge accounting [abstract]  
Schedules of Risks Arising from Financial Instruments
U.S. dollar financial instruments subject to foreign exchange risk consist of U.S. dollar denominated items held in Canada and are summarized below.

(US$ in millions)December 31,
2021		December 31,
2020
Cash and cash equivalents$664 $23 
Trade and settlement receivables1,042 616 
Trade accounts payable and other liabilities(703)(608)
Debt(3,479)(3,741)
Reduced by: Debt designated as a hedging instrument in our net investment hedge2,697 3,575 
Net U.S. dollar exposure$221 $(135)
The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2021 and December 31, 2020.
29.    Financial Instruments and Financial Risk Management (continued)
 
Outstanding at December 31, 2021Outstanding at December 31, 2020
(Pounds in millions)PoundsUS$/lb.PoundsUS$/lb.
Receivable positions
Copper156 $4.42 132 $3.52 
Zinc175 $1.62 142 $1.24 
Lead53 $1.06 42 $0.90 
Payable positions
Zinc payable63 $1.62 112 $1.24 
Lead payable10 $1.06 19 $0.90 
Schedule of Maturity Analysis for Non-Derivative Financial Liabilities
At December 31, 2021, scheduled principal payments during the next five years and thereafter are as follows:

($ in millions)US$CAD$
Equivalent
2022$168 $213 
2023373 472 
2024265 336 
2025265 336 
2026422 536 
Thereafter4,413 5,594 
$5,906 $7,487 
Contractual undiscounted cash flow requirements for financial liabilities as at December 31, 2021 are as follows:

(CAD$ in millions)Less Than
1 Year		2–3
Years		4–5
Years		More Than
5 Years		Total
Trade accounts payable and other liabilities$3,045 $— $— $— $3,045 
Debt (Note 18(f))
213 808 872 5,594 7,487 
Lease liabilities154 191 172 611 1,128 
Obligation to Neptune Bulk Terminals— 26 144 — 170 
ENAMI preferential dividend liability— 43 16 46 105 
QB2 advances from SMM/SC— — — 1,271 1,271 
QB2 variable consideration to IMSA
— 6363—126 
Other liabilities— 139 56 37 232 
Estimated interest payments on debt277 623 601 2,907 4,408 
Estimated interest payments on QB2 advances
   from SMM/SC		— — — 1,753 1,753 
Estimated interest payments on lease and other
   liabilities		16 24 12 30 82 
Schedule of Sensitivity Analysis for Types of Market Risk The following represents the effect on profit (loss) attributable to shareholders from a 10% change in commodity prices, based on outstanding receivables and payables subject to final pricing adjustments at December 31, 2021. There is no effect on other comprehensive income (loss).
29.    Financial Instruments and Financial Risk Management (continued)

Price on December 31,Change in Profit
Attributable to Shareholders
(CAD$ in millions, except for US$/lb. data)2021202020212020
Copper
US$4.42/lb.
US$3.52/lb.
$53 $36 
Zinc
US$1.62/lb.
US$1.24/lb.
$7 $(2)
The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2021 and December 31, 2020.
29.    Financial Instruments and Financial Risk Management (continued)
 
Outstanding at December 31, 2021Outstanding at December 31, 2020
(Pounds in millions)PoundsUS$/lb.PoundsUS$/lb.
Receivable positions
Copper156 $4.42 132 $3.52 
Zinc175 $1.62 142 $1.24 
Lead53 $1.06 42 $0.90 
Payable positions
Zinc payable63 $1.62 112 $1.24 
Lead payable10 $1.06 19 $0.90 
Schedules of Risks Arising from Financial Instruments
The fair value of our commodity swaps is calculated using a discounted cash flow method based on forward metal prices. A summary of these derivative contracts and related fair values as at December 31, 2021 is as follows:

Derivatives not designated as
hedging instruments		QuantityAverage Price
of Purchase
Commitments		Average Price
of Sale
Commitments		Fair Value
Asset
(CAD$ in millions)
Zinc swaps
140 million lbs.
US$1.60/lb.
US$1.57/lb.
$9 
Lead swaps
59 million lbs.
US$1.04/lb.
US$1.05/lb.
— 
$9 
Derivatives Not Designated as Hedging Instruments and Embedded Derivatives

(CAD$ in millions)Amount of Gain (Loss)
Recognized in Other
Operating Income (Expense)
and Non-Operating Income (Expense)
 20212020
Zinc derivatives$17 $12 
Lead derivatives4 (5)
Settlement receivables and payables (Note 8)
442 47 
Contingent zinc escalation payment embedded derivative (c)(28)(1)
Gold stream embedded derivative (c)(8)28 
Silver stream embedded derivative (c)(7)28 
QB2 variable consideration to IMSA (Note 10(a))
(97)— 
$323 $109