Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, plant and equipment [abstract]

Property, Plant and Equipment

Property, Plant and Equipment

(CAD$ in millions)	Exploration and Evaluation		Mineral Properties		Land, Buildings, Plant and Equipment		Capitalized Production Stripping Costs		Construction In Progress		Total
At December 31, 2020
Cost	$	903	$	20,758	$	16,722	$	6,598	$	7,919	$	52,900
Accumulated depreciation	—		(6,223)		(9,145)		(3,954)		—		(19,322)
Net book value	$	903	$	14,535	$	7,577	$	2,644	$	7,919	$	33,578
Year ended December 31, 2021
Opening net book value	$	903	$	14,535	$	7,577	$	2,644	$	7,919	$	33,578
Additions	45		—		181		740		3,877		4,843
Disposals	—		—		(6)		—		(18)		(24)
Impairment reversal	—		215		—		—		—		215
Depreciation and amortization	—		(373)		(802)		(694)		—		(1,869)
Transfers between classifications	—		(50)		2,162		—		(2,112)		—
Decommissioning and restoration    provisions change in estimate	—		250		39		—		—		289
Capitalized borrowing costs	—		115		—		—		255		370
Changes in foreign exchange    rates	(4)		(11)		(13)		(2)		10		(20)
Closing net book value	$	944	$	14,681	$	9,138	$	2,688	$	9,931	$	37,382
At December 31, 2021
Cost	$	944	$	21,362	$	18,716	$	7,334	$	9,931	$	58,287
Accumulated depreciation	—		(6,681)		(9,578)		(4,646)		—		(20,905)
Net book value	$	944	$	14,681	$	9,138	$	2,688	$	9,931	$	37,382
Year ended December 31, 2022
Opening net book value	$	944	$	14,681	$	9,138	$	2,688	$	9,931	$	37,382
Additions	102		—		389		1,138		4,964		6,593
Disposals	—		—		(25)		—		(5)		(30)
Asset impairment	(37)		(247)		(959)		—		—		(1,243)
Depreciation and amortization	—		(325)		(906)		(630)		—		(1,861)
Transfers between classifications	—		104		1,420		—		(1,524)		—
Decommissioning and restoration provisions change in estimate	—		(743)		(145)		—		—		(888)
Capitalized borrowing costs	—		131		—		—		358		489
Transfers to assets held for sale	(142)		(546)		(735)		—		(129)		(1,552)
Changes in foreign exchange rates	28		235		172		52		718		1,205
Closing net book value	$	895	$	13,290	$	8,349	$	3,248	$	14,313	$	40,095
At December 31, 2022
Cost	$	895	$	20,364	$	18,567	$	8,596	$	14,313	$	62,735
Accumulated depreciation	—		(7,074)		(10,218)		(5,348)		—		(22,640)
Net book value	$	895	$	13,290	$	8,349	$	3,248	$	14,313	$	40,095

16.    Property, Plant and Equipment (continued)

a) Exploration and Evaluation

Significant exploration and evaluation projects in property, plant and equipment include the Galore Creek and Zafranal projects. The San Nicolás and Mesaba projects were reclassified to assets held for sale in 2022 (Notes 5(b) and (c)).

b) Borrowing Costs

Borrowing costs are capitalized at a rate based on our weighted average cost of borrowing or at the rate on the project-specific debt, as applicable. Capitalized borrowing costs are classified with the asset they relate to within mineral properties, land, buildings, plant and equipment, or construction in progress. Our weighted average borrowing rate used for capitalization of borrowing costs in 2022 was 5.7% (2021 – 5.4%).