Foreign Exchange (Gain) Loss, Net

3 Months Ended

Mar. 31, 2026


6.	Foreign Exchange (Gain) Loss, Net


	Three Months Ended
	March 31,
	2026			2025

Unrealized Foreign Exchange (Gain) Loss on:
Translation of U.S. dollar risk management contracts issued from Canada	$	(1	)	$	(87	)
Translation of intercompany notes		-			42
		(1	)		(45	)
Foreign Exchange (Gain) Loss on Settlements of:
U.S. dollar risk management contracts issued from Canada		-			98
Intercompany notes		(1	)		(42	)
Other Monetary Revaluations		-			(1	)
	$	(2	)	$	10

In 2024, the Company entered into $2.4 billion notional U.S. dollar denominated currency swaps at an average exchange rate of C$1.3825 to US$1 to manage the foreign exchange risk associated with the Montney Acquisition, which was denominated in Canadian dollars (see Note 8). In conjunction with the closing of the transaction, the Company settled the currency swaps and recognized a realized foreign exchange loss of approximately $97 million during the three months ended March 31, 2025.

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

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