v3.26.1
Consolidated Statements of Cash Flows
$ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
CASH PROVIDED (USED IN) BY OPERTING ACTIVITIES    
Net earnings $ 885.8 $ 284.3
Adjustments for items not involving cash:    
Amortization 209.7 218.4
Reversal of impairment (Note 10) (218.8) (57.1)
Foreign exchange loss (gain) 5.1 (8.0)
Current income tax expense 120.5 98.7
Deferred income tax expense 83.4 119.2
Share-based compensation (Note 19(d)) 67.6 31.7
Finance (income) expense (6.4) 3.8
Loss on commodity derivatives 230.5 24.2
Gain on sale of assets (Note 7) (231.0) 0.0
Deferred revenue recognized (Note 14) (124.6) 0.0
Settlement of Argonaut legacy gold hedges (Note 13) (113.5) 0.0
Proceeds from gold sale prepayment (Note 14) 50.0 0.0
Other items (Note 23) (34.0) 11.0
Changes in working capital and taxes paid (Note 23) (129.0) (65.1)
Cash flows from (used in) operating activities 795.3 661.1
INVESTING ACTIVITIES    
Mineral property, plant and equipment (507.1) (417.6)
Interest capitalized to mineral property, plant and equipment (17.1) (7.7)
Proceeds from disposition of equity securities 9.8 1.0
Investment in equity securities (0.5) (11.6)
Investment in equity securities (2.0) 0.0
Investment in Argonaut, net of cash acquired (Note 6) 0.0 (30.2)
Proceeds from sale of assets, net of transaction costs (Note 7) 160.0 0.0
Transaction costs arising on asset dispositions and acquisitions (Note 5, Note 8) 0.0 (1.0)
Cash flows from (used in) investing activities (356.9) (467.1)
FINANCING ACTIVITIES    
Proceeds from draw down of credit facility 0.0 250.0
Repayment of debt and accrued interest assumed on Argonaut acquisition (Note 6) (50.0) (308.3)
Dividends paid (Note 19) (39.5) (35.1)
Repurchase and cancellation of common shares (Note 19) (38.8) 0.0
Credit facility transaction, standby fees and interest (Note 15) (2.6) (2.7)
Lease payments (Note 16) (16.5) (10.6)
Proceeds from issuance of flow-through shares 0.0 10.5
Proceeds from the exercise of options and warrants 4.1 6.8
Cash flows from (used in) financing activities (143.3) (89.4)
Effect of exchange rates on cash and cash equivalents 0.8 (2.2)
Increase in cash and cash equivalents 295.9 102.4
Cash and cash equivalents - beginning of year 327.2 224.8
CASH AND CASH EQUIVALENTS - END OF YEAR $ 623.1 $ 327.2