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Financial Instruments and Financial Risk Management (Tables)
 12 Months Ended
Dec. 31, 2022
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,
2022		December 31,
2021
Cash and cash equivalents$634 $664 
Trade and settlement receivables629 1,042 
Trade accounts payable and other liabilities(570)(703)
Debt (Note 19)
(2,585)(3,478)
Reduced by: Debt designated as a hedging instrument in our net investment hedge1,686 2,697 
Net U.S. dollar exposure$(206)$222 
The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2022 and December 31, 2021.
30.    Financial Instruments and Financial Risk Management (continued)
 
Outstanding at December 31, 2022Outstanding at December 31, 2021
VolumePriceVolumePrice
Receivable positions
Copper (pounds in millions)168 
US$3.80/lb.
156 
US$4.42/lb.
Zinc (pounds in millions)218 
US$1.35/lb.
175 
US$1.62/lb.
Lead (pounds in millions)17 
US$1.05/lb.
53 
US$1.06/lb.
Steelmaking coal (tonnes in thousands)388 
US$257/tonne
— —
Payable positions
Zinc payable (pounds in millions)75 
US$1.35/lb.
63 
US$1.62/lb.
Lead payable (pounds in millions)18 
US$1.05/lb.
10 
US$1.06/lb.
Schedule of Maturity Analysis for Non-Derivative Financial Liabilities
At December 31, 2022, scheduled principal payments during the next five years and thereafter are as follows:

($ in millions)US$CAD$
Equivalent
2023$454 $616 
2024294 398 
2025294 398 
2026519 703 
2027294 398 
Thereafter3,507 4,749 
$5,362 $7,262 
Contractual undiscounted cash flow requirements for financial liabilities as at December 31, 2022 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$3,906 $— $— $— $3,906 
Debt (Note 19(f))
616 796 1,101 4,749 7,262 
Lease liabilities138 164 114 329 745 
Obligation to Neptune Bulk Terminals— 28 28 133 189 
ENAMI preferential dividend liability— — 261 107 368 
QB2 advances from SMM/SC— — — 2,293 2,293 
QB2 variable consideration to IMSA
— 135— — 135 
Other liabilities— 87 31 12 130 
Estimated interest payments on debt417 729 590 2,145 3,881 
Estimated interest payments on QB2 advances
   from SMM/SC		— — — 1,019 1,019 
Estimated interest payments on lease and other
   liabilities		16 22 17 43 98 
Schedule of Sensitivity Analysis for Types of Market Risk
The following represents the effect on profit attributable to shareholders from a 10% change in commodity prices, based on outstanding receivables and payables subject to final pricing adjustments at December 31, 2022 and December 31, 2021. There is no effect on other comprehensive income.

Price on December 31,Change in Profit
Attributable to Shareholders
(CAD$ in millions)2022202120222021
Copper
US$3.80/lb.
US$4.42/lb.
$52 $53 
Zinc
US$1.35/lb.
US$1.62/lb.
$9 $7 
Steelmaking coal
US$257/tonne
— $9 $— 
The table below outlines our outstanding settlement receivables and payables, which were provisionally valued at December 31, 2022 and December 31, 2021.
30.    Financial Instruments and Financial Risk Management (continued)
 
Outstanding at December 31, 2022Outstanding at December 31, 2021
VolumePriceVolumePrice
Receivable positions
Copper (pounds in millions)168 
US$3.80/lb.
156 
US$4.42/lb.
Zinc (pounds in millions)218 
US$1.35/lb.
175 
US$1.62/lb.
Lead (pounds in millions)17 
US$1.05/lb.
53 
US$1.06/lb.
Steelmaking coal (tonnes in thousands)388 
US$257/tonne
— —
Payable positions
Zinc payable (pounds in millions)75 
US$1.35/lb.
63 
US$1.62/lb.
Lead payable (pounds in millions)18 
US$1.05/lb.
10 
US$1.06/lb.
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, 2022 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
181 million lbs.
US$1.34/lb.
US$1.34/lb.
$4 
Lead swaps
75 million lbs.
US$1.01/lb.
US$1.02/lb.
8 
$12 
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)
 20222021
Zinc derivatives$15 $17 
Lead derivatives3 4 
Settlement receivables and payables (Note 9)
(371)442 
Contingent zinc escalation payment embedded derivative (c)27 (28)
Gold stream embedded derivative (c)(8)(8)
Silver stream embedded derivative (c)(2)(7)
QB2 variable consideration to IMSA (Note 11(a))
(5)(97)
$(341)$323