XML 63 R50.htm IDEA: XBRL DOCUMENT v3.24.0.1
Commitments (Tables)
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Summary of Company's Contractual Obligations and Commitments The following table presents a summary of the Company’s contractual obligations and commitments as of December 31, 2023:

 

 

 

Payments Due by Period

 

(In thousands of U.S. Dollars)

 

Total
Obligation

 

 

Less Than One Year

 

 

1 to 3 years

 

 

3 to 5 years

 

 

Thereafter

 

Purchase obligations(1)

 

$

35,210

 

 

$

33,723

 

 

$

1,192

 

 

$

24

 

 

$

271

 

Pension obligations(2)

 

 

20,298

 

 

 

—

 

 

 

20,298

 

 

 

—

 

 

 

—

 

Operating lease obligations(3)

 

 

14,898

 

 

 

2,740

 

 

 

5,026

 

 

 

4,965

 

 

 

2,167

 

Finance lease obligations

 

 

518

 

 

 

518

 

 

 

—

 

 

 

—

 

 

 

—

 

Wells Fargo Facility

 

 

24,000

 

 

 

24,000

 

 

 

—

 

 

 

—

 

 

 

—

 

Federal Economic Development Loan(4)

 

 

3,200

 

 

 

965

 

 

 

2,235

 

 

 

—

 

 

 

—

 

Convertible Notes(5)

 

 

232,875

 

 

 

1,150

 

 

 

231,725

 

 

 

—

 

 

 

—

 

Postretirement benefits obligations

 

 

2,489

 

 

 

106

 

 

 

221

 

 

 

228

 

 

 

1,934

 

 

 

$

333,488

 

 

$

63,202

 

 

$

260,697

 

 

$

5,217

 

 

$

4,372

 

 

(1)
Represents total payments to be made under binding commitments with suppliers and outstanding payments to be made for supplies ordered, but yet to be invoiced.
(2)
The Company has an unfunded defined benefit pension plan covering its Chief Executive Officer. (Refer to Note 23.)
(3)
Represents total minimum annual rental payments due under the Company’s operating leases. (Refer to Note 6.)
(4)
The Federal Economic Development Loan will be repayable over 36 months, with repayments estimated to begin in January 2024. (Refer to Note 14(b).)
(5)
The Convertible Notes bear interest at a rate of 0.500% per annum on the principal of $230.0 million, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021. The Convertible Notes will mature on April 1, 2026, unless earlier repurchased, redeemed or converted. (Refer to Note 14(b).)