$AEMRF
AGNICO EAGLE MINES LTD
CIK:0000002809|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| OPERATING ACTIVITIES | ||
| Net income for the year | $ 4,461,461 | $ 1,895,581 |
| Add (deduct) adjusting items: | ||
| Amortization of property, plant and mine development (Note 9) | 1,645,297 | 1,514,076 |
| Deferred income and mining taxes (Note 25) | 162,158 | 213,845 |
| Unrealized (gain) loss on currency and commodity derivatives (Note 21) | (127,585) | 142,396 |
| Unrealized gain on warrants (Note 21) | (111,203) | (20,383) |
| Stock-based compensation (Note 17) | 97,545 | 77,404 |
| Impairment reversal (Note 24) | (229,000) | |
| Foreign currency translation (gain) loss | (25,654) | 9,383 |
| Other | 139,797 | 48,566 |
| Changes in non-cash working capital balances: | ||
| Income taxes | 886,371 | 259,327 |
| Inventories | (160,744) | (208,300) |
| Other current assets | (43,969) | 1,166 |
| Accounts payable and accrued liabilities | 122,639 | 27,831 |
| Cash provided by operating activities | 6,817,113 | 3,960,892 |
| INVESTING ACTIVITIES | ||
| Additions to property, plant and mine development (Note 9) | (2,418,200) | (1,817,949) |
| Purchase of O3 Mining, net of cash and cash equivalents acquired (Note 5) | (121,960) | |
| Contributions for acquisition of mineral assets | (14,972) | (16,296) |
| Purchase of equity securities and other investments | (447,494) | (183,021) |
| Proceeds from sale of equity securities and other investments | 402,720 | |
| Other investing activities | 1,611 | 10,152 |
| Cash used in investing activities | (2,598,295) | (2,007,114) |
| FINANCING ACTIVITIES | ||
| Proceeds from Credit Facility (Note 14) | 600,000 | |
| Repayment of Credit Facility (Note 14) | (600,000) | |
| Repayment of Term Loan Facility (Note 14) | (600,000) | |
| Repayment of Senior Notes (Note 14) | (950,000) | (100,000) |
| Debt financing and extinguishment costs (Note 14) | (8,245) | (3,544) |
| Repayment of lease obligations | (36,043) | (47,319) |
| Dividends paid | (728,077) | (671,655) |
| Repurchase of common shares (Notes 16 and 17) | (682,890) | (169,357) |
| Proceeds from exercise of stock options (Note 17A) | 75,749 | 198,532 |
| Common shares issued (Note 16) | 42,363 | 37,012 |
| Cash used in financing activities | (2,287,143) | (1,356,331) |
| Effect of exchange rate changes on cash and cash equivalents | 7,947 | (9,664) |
| Net increase in cash and cash equivalents during the year | 1,939,622 | 587,783 |
| Cash and cash equivalents, beginning of year | 926,431 | 338,648 |
| Cash and cash equivalents, end of year | 2,866,053 | 926,431 |
| SUPPLEMENTAL CASH FLOW INFORMATION | ||
| Interest paid | 46,875 | 103,692 |
| Income and mining taxes paid | $ 1,177,927 | $ 474,028 |
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents (Note 20) | $ 2,866,053 | $ 926,431 |
| Inventories (Note 7) | 1,698,830 | 1,510,716 |
| Income taxes recoverable | 9,435 | 26,432 |
| Fair value of derivative financial instruments (Notes 6 and 21) | 34,428 | 1,348 |
| Other current assets (Note 8A) | 385,196 | 340,354 |
| Total current assets | 4,993,942 | 2,805,281 |
| Non-current assets: | ||
| Goodwill (Notes 23 and 24) | 4,157,672 | 4,157,672 |
| Property, plant and mine development (Note 9) | 22,850,540 | 21,466,499 |
| Investments (Notes 6 and 10) | 1,508,252 | 612,889 |
| Deferred income and mining tax asset (Note 25) | 17,821 | 29,198 |
| Other assets (Note 8B) | 943,064 | 915,479 |
| Total assets | 34,471,291 | 29,987,018 |
| Current liabilities: | ||
| Accounts payable and accrued liabilities (Note 11) | 1,033,444 | 823,412 |
| Share based liabilities (Note 17) | 31,722 | 27,290 |
| Income taxes payable | 1,226,347 | 372,197 |
| Current portion of long-term debt (Note 14) | 90,000 | |
| Reclamation provision (Note 12) | 144,537 | 58,579 |
| Lease obligations (Note 13) | 30,480 | 40,305 |
| Fair value of derivative financial instruments (Notes 6 and 21) | 5,676 | 100,182 |
| Total current liabilities | 2,472,206 | 1,511,965 |
| Non-current liabilities: | ||
| Long-term debt (Note 14) | 196,271 | 1,052,956 |
| Reclamation provision (Note 12) | 1,318,476 | 1,026,628 |
| Lease obligations (Note 13) | 94,719 | 98,921 |
| Share based liabilities (Note 17) | 23,921 | 12,505 |
| Deferred income and mining tax liabilities (Note 25) | 5,373,013 | 5,162,249 |
| Other liabilities (Note 15) | 250,221 | 288,894 |
| Total liabilities | 9,728,827 | 9,154,118 |
| EQUITY | ||
| Common shares (Note 16): Outstanding - 500,768,400 common shares issued, less 721,800 shares held in trust | 18,699,862 | 18,675,660 |
| Stock options (Notes 16 and 17) | 166,775 | 172,145 |
| Retained earnings | 5,463,906 | 2,026,242 |
| Other reserves (Note 18) | 411,921 | (41,147) |
| Total equity | 24,742,464 | 20,832,900 |
| Total liabilities and equity | 34,471,291 | 29,987,018 |
| Commitments and contingencies (Note 27) |