| Dec'17 | Dec'16 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income | ||||||
194,700 | 122,200 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depletion and depreciation | ||||||
273,000 | 273,800 | |||||
Non-cash costs of sales | ||||||
7,700 | 6,500 | |||||
Share-based payments | ||||||
4,600 | 5,000 | |||||
Impairment charges (Note 8(b)) | ||||||
- | 67,500 | |||||
Gain on sale of royalty interest | ||||||
- | 14,100 | |||||
Unrealized foreign exchange gain | ||||||
-1,700 | 500 | |||||
Mark-to-market on warrants | ||||||
200 | -400 | |||||
Gain on investments | ||||||
2,000 | 12,400 | |||||
Impairment of investment | ||||||
-4,500 | - | |||||
Deferred income tax expense | ||||||
21,800 | 3,500 | |||||
Other non-cash items | ||||||
-2,100 | -1,200 | |||||
Acquisition of gold bullion | ||||||
24,100 | 53,500 | |||||
Proceeds from sale of gold bullion | ||||||
19,000 | 67,300 | |||||
Operating cash flows before changes in non-cash working capital | ||||||
495,600 | 464,700 | |||||
Changes in non-cash working capital: | ||||||
Decrease in receivables | ||||||
5,200 | -6,000 | |||||
Increase (decrease) in prepaid expenses and other | ||||||
3,300 | -4,500 | |||||
Decrease in current liabilities | ||||||
-15,500 | 16,800 | |||||
Net cash provided by operating activities | ||||||
488,600 | 471,000 | |||||
Cash flows from investing activities | ||||||
Acquisition of royalty, stream and working interests | ||||||
499,500 | 744,800 | |||||
Acquisition of oil & gas well equipment | ||||||
1,700 | 2,100 | |||||
Proceeds from sale of investments | ||||||
12,600 | 28,600 | |||||
Proceeds from sale of royalty interest | ||||||
- | 30,300 | |||||
Acquisition of investments | ||||||
12,300 | 1,600 | |||||
Acquisition of property and equipment | ||||||
- | 200 | |||||
Net cash used in investing activities | ||||||
-500,900 | -689,800 | |||||
Cash flows from financing activities | ||||||
Net proceeds from issuance of common shares | ||||||
- | 883,500 | |||||
Repayment of Credit Facility | ||||||
- | 460,000 | |||||
Credit facility amendment costs | ||||||
1,000 | - | |||||
Payment of dividends | ||||||
125,800 | 118,100 | |||||
Proceeds from exercise of warrants | ||||||
356,400 | - | |||||
Proceeds from exercise of stock options | ||||||
10,100 | 16,300 | |||||
Net cash (used in) provided by financing activities | ||||||
239,700 | 321,700 | |||||
Effect of exchange rate changes on cash and cash equivalents | ||||||
30,700 | 900 | |||||
Net change in cash and cash equivalents | ||||||
258,100 | 103,800 | |||||
Supplemental cash flow information: | ||||||
Cash paid for interest expense and loan standby fees | ||||||
2,400 | 3,000 | |||||
Income taxes paid | ||||||
38,200 | 30,700 | |||||