Methanex (MEOH) 40-F 5 Mar 21 2020 FY Annual report (Canada) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2020shares
Entity Addresses [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Entity File Number	000-20115
Entity Registrant Name	METHANEX CORPORATION
Entity Incorporation, State or Country Code	Z4
Entity Primary SIC Number	2860
Entity Address, Address Line One	1800 Waterfront Centre
Entity Address, Address Line Two	200 Burrard Street
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V6C 3M1
City Area Code	604
Local Phone Number	661-2600
Title of 12(b) Security	Common Shares
Trading Symbol	MEOH
Security Exchange Name	NASDAQ
Security Reporting Obligation	15(d)
Annual Information Form	true
Audited Annual Financial Statements	true
Entity Common Stock, Shares Outstanding	76,201,980
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Central Index Key	0000886977
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Agent for service in United States
Entity Addresses [Line Items]
Contact Personnel Name	CT Corporation System
Entity Address, Address Line One	28 Liberty Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10005
City Area Code	212
Local Phone Number	894-8940

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 833,841	$ 416,763
Trade and other receivables (note 3)	412,000	488,721
Inventories (note 4)	308,696	281,052
Prepaid expenses	33,746	37,805
Other assets (note 7)	6,634	8,180
Current assets	1,594,917	1,232,521
Non-current assets:
Property, plant and equipment (note 5)	3,677,056	3,576,195
Investment in associate (note 6)	194,025	193,474
Deferred income tax assets (note 16)	137,524	111,614
Other assets (note 7)	92,529	82,811
Non-current assets	4,101,134	3,964,094
Assets	5,696,051	5,196,615
Current liabilities:
Trade, other payables and accrued liabilities	600,953	493,754
Current maturities on long-term debt (note 8)	39,771	38,420
Current maturities on lease obligations (note 9)	97,516	89,820
Current maturities on other long-term liabilities (note 10)	27,152	26,252
Current liabilities	765,392	648,246
Non-current liabilities:
Long-term debt (note 8)	2,323,601	1,730,433
Other long-term liabilities (note 10)	327,491	286,071
Lease obligations (note 9)	624,718	628,685
Deferred income tax liabilities (note 16)	213,392	272,820
Non-current liabilities	3,489,202	2,918,009
Equity:
Capital stock, 25,000,000 authorized preferred shares without nominal or par value; Unlimited authorization of common shares without nominal or par value; Issued and outstanding common shares at December 31, 2020 were 76,201,980 (2019 - 76,196,080)	440,723	440,472
Contributed surplus	1,873	1,783
Retained earnings	843,606	1,039,819
Accumulated other comprehensive loss	(137,102)	(150,389)
Shareholders’ equity	1,149,100	1,331,685
Non-controlling interests	292,357	298,675
Total equity	1,441,457	1,630,360
Equity and liabilities	$ 5,696,051	$ 5,196,615

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019
Preferred shares
Statement [Line Items]
Number of shares authorised (in shares)	25,000,000	25,000,000
Common shares | Capital stock
Statement [Line Items]
Number of shares issued (in shares)	76,201,980	76,196,080
Number of shares outstanding (in shares)	76,201,980	76,196,080

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Profit or loss [abstract]
Revenue	$ 2,649,963	$ 3,283,514
Cost of sales and operating expenses (note 11)	(2,355,123)	(2,799,937)
Depreciation and amortization (note 11)	(357,129)	(344,127)
Egypt insurance recovery (note 3)	9,839	50,000
Operating income (loss)	(52,450)	189,450
Earnings of associate (note 6)	29,577	52,218
Finance costs (note 12)	(164,837)	(124,426)
Finance income and other expenses	278	3,598
Income (loss) before income taxes	(187,432)	120,840
Income tax (expense) recovery (note 16):
Current	(25,196)	(38,809)
Deferred	87,301	34,335
Tax (expense) recovery	62,105	(4,474)
Net income (loss)	(125,327)	116,366
Attributable to:
Methanex Corporation shareholders	(156,678)	87,767
Non-controlling interests (note 24)	31,351	28,599
Net income (loss)	$ (125,327)	$ 116,366
Income (loss) per common share for the period attributable to Methanex Corporation shareholders:
Basic net income (loss) per common share (note 13) (in usd per share)	$ (2.06)	$ 1.15
Diluted net income (loss) per common share (note 13) (in usd per share)	$ (2.06)	$ 1.01
Weighted average number of common shares outstanding (in shares)	76,196,395	76,592,413
Diluted weighted average number of common shares outstanding (in shares)	76,196,395	76,692,494

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of comprehensive income [abstract]
Net income (loss)	$ (125,327)	$ 116,366
Items that may be reclassified to income:
Change in fair value of cash flow hedges (note 19)	31,194	(120,540)
Forward elements excluded from hedging relationships (note 19)	(35,775)	30,571
Realized losses on foreign exchange hedges reclassified to revenue	1,804	0
Items that will not be reclassified to income:
Actuarial loss on defined benefit pension plans (note 21(a))	(5,413)	(4,479)
Taxes on above items	(2,325)	22,049
Other comprehensive loss	(10,515)	(72,399)
Comprehensive income (loss)	(135,842)	43,967
Attributable to:
Methanex Corporation shareholders	(167,193)	15,368
Non-controlling interests (note 24)	$ 31,351	$ 28,599

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Capital stock	Capital stockCommon shares	Contributed surplus	Retained earnings	Accumulated other comprehensive loss	Shareholders’ equity	Non-controlling interests
Number of common shares, beginning of period (in shares) at Dec. 31, 2018			77,263,273
Balance, beginning of period at Dec. 31, 2018	$ 1,807,841	$ 446,544		$ 1,597	$ 1,145,476	$ (82,404)	$ 1,511,213	$ 296,628
Net income (loss)	116,366				87,767		87,767	28,599
Other comprehensive loss	(72,399)				(4,414)	(67,985)	(72,399)
Compensation expense recorded for stock options	212			212			212
Issue of shares on exercise of stock options (in shares)			2,700
Issue of shares on exercise of stock options	86	86					86
Reclassification of grant-date fair value on exercise of stock options	0	26		(26)
Payments for shares repurchased (in shares)			(1,069,893)
Payment for shares repurchased	(52,805)	(6,184)			(46,621)		(52,805)
Dividend payments to Methanex Corporation shareholders	(107,876)				(107,876)		(107,876)
Distributions made and accrued to non-controlling interests	(20,978)							(20,978)
Acquisition of non-controlling interests	(2,219)							(2,219)
Number of common shares, end of period (in shares) at Dec. 31, 2019			76,196,080
Balance, end of period at Dec. 31, 2019	1,630,360	440,472		1,783	1,039,819	(150,389)	1,331,685	298,675
Impact of adoption of IFRS 16	(37,868)				(34,513)		(34,513)	(3,355)
Net income (loss)	(125,327)				(156,678)		(156,678)	31,351
Other comprehensive loss	(10,515)				(3,531)	(6,984)	(10,515)
Compensation expense recorded for stock options	137			137			137
Issue of shares on exercise of stock options (in shares)			5,900
Issue of shares on exercise of stock options	204	204					204
Reclassification of grant-date fair value on exercise of stock options	0	47		(47)
Dividend payments to Methanex Corporation shareholders	(36,004)				(36,004)		(36,004)
Distributions made and accrued to non-controlling interests	(36,455)							(36,455)
Acquisition of non-controlling interests	(6,714)							(6,714)
Equity contributions by non-controlling interest	5,500							5,500
Realized hedge losses recognized in cash flow hedges	20,271					20,271	20,271
Number of common shares, end of period (in shares) at Dec. 31, 2020			76,201,980
Balance, end of period at Dec. 31, 2020	$ 1,441,457	$ 440,723		$ 1,873	$ 843,606	$ (137,102)	$ 1,149,100	$ 292,357

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of changes in equity [abstract]
Dividends payments to Methanex Corporation shareholders (in usd per share)	$ 0.473	$ 1.440

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM / (USED IN) OPERATING ACTIVITIES
Net income (loss)	$ (125,327)	$ 116,366
Deduct earnings of associate	(29,577)	(52,218)
Dividends received from associate	29,026	56,159
Add (deduct) non-cash items:
Depreciation and amortization	357,129	344,127
Income tax expense (recovery)	(62,105)	4,474
Share-based compensation expense (recovery)	55,253	(3,950)
Finance costs	164,837	124,426
Other	13,151	(901)
Income taxes paid	(2,871)	(43,909)
Other cash payments, including share-based compensation	(3,357)	(38,569)
Cash flows from operating activities before undernoted	396,159	506,005
Changes in non-cash working capital (note 17(a))	64,923	9,426
Cash flows from / (used in) operating activities	461,082	515,431
CASH FLOWS FROM / (USED IN) FINANCING ACTIVITIES
Payments for repurchase of shares	0	(52,805)
Dividend payments to Methanex Corporation shareholders	(36,004)	(107,876)
Interest paid	(165,450)	(115,283)
Net proceeds on issue of long-term debt	865,415	695,533
Repayment of long-term debt and financing fees	(295,917)	(388,216)
Draw on revolving credit facility	300,000	0
Repayment of revolving credit facility	(300,000)	0
Repayment of lease obligations	(106,834)	(101,812)
Restricted cash for debt service accounts	(4,322)	(10,067)
Equity contributions by / acquisitions of non-controlling interests	(1,214)	0
Cash distributions to non-controlling interests	(34,658)	(23,613)
Proceeds on issue of shares on exercise of stock options	204	86
Proceeds from limited recourse debt	12,839	0
Cash flows from / (used in) financing activities	234,059	(104,053)
CASH FLOWS FROM / (USED IN) INVESTING ACTIVITIES
Property, plant and equipment	(128,786)	(208,467)
Geismar plant under construction	(213,030)	(115,393)
Restricted cash for capital projects	1,772	61,657
Proceeds from sale of assets	9,828	0
Changes in non-cash working capital related to investing activities (note 17(a))	52,153	11,511
Cash flows from / (used in) investing activities	(278,063)	(250,692)
Increase in cash and cash equivalents	417,078	160,686
Cash and cash equivalents, beginning of year	416,763	256,077
Cash and cash equivalents, end of year	$ 833,841	$ 416,763

Nature of operations

Nature of operations	12 Months Ended
	Dec. 31, 2020
Corporate Information And Statement Of IFRS Compliance [Abstract]
Nature of operations	Nature of operations: Methanex Corporation ("the Company") is an incorporated entity with corporate offices in Vancouver, Canada. The Company’s operations consist of the production and sale of methanol, a commodity chemical. The Company is the world’s largest producer and supplier of methanol to the major international markets of Asia Pacific, North America, Europe and South America.

Significant accounting policies

Significant accounting policies	12 Months Ended
	Dec. 31, 2020
Corporate Information And Statement Of IFRS Compliance [Abstract]
Significant accounting policies	Significant accounting policies: a) Statement of compliance: These consolidated financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB"). These consolidated financial statements were approved and authorized for issue by the Board of Directors on March 5, 2021. b) Basis of presentation and consolidation: These consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, less than wholly-owned entities for which it has a controlling interest and its equity-accounted joint venture. Wholly-owned subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. For less than wholly-owned entities for which the Company has a controlling interest, a non-controlling interest is included in the Company’s consolidated financial statements and represents the non-controlling shareholders’ interest in the net assets of the entity. All significant intercompany transactions and balances have been eliminated. Preparation of these consolidated financial statements requires estimates, judgments and assumptions that affect the amounts reported and disclosed in the financial statements and related notes. The areas of estimation and judgment that management considers most significant are property, plant and equipment (note 2(g)), financial instruments (note 2(o)), fair value measurements (note 2(p)), leases (note 2(i)), and income taxes (note 2(q)). Actual results could differ from those estimates. c) Reporting currency and foreign currency translation: Functional currency is the currency of the primary economic environment in which an entity operates. The majority of the Company’s business in all jurisdictions is transacted in United States dollars and, accordingly, these consolidated financial statements have been measured and expressed in that currency. The Company translates foreign currency denominated monetary items at the period-end exchange rates, foreign currency denominated non-monetary items at historic rates and revenues and expenditures at the exchange rates at the dates of the transactions. Foreign exchange gains and losses are included in earnings. d) Cash and cash equivalents: Cash and cash equivalents include securities with maturities of three months or less when purchased. e) Receivables: The Company provides credit to its customers in the normal course of business. The Company performs ongoing credit evaluations of its customers and records provisions for expected credit losses for receivables measured at amortized cost. The Company records an allowance for doubtful accounts or writes down the receivable to estimated net realizable value, if not collectible in full, based on expected credit losses. Expected credit losses are based on historic and forward looking customer specific factors including historic credit losses incurred. f) Inventories: Inventories are valued at the lower of cost and estimated net realizable value. Cost is determined on a first-in, first-out basis and includes direct purchase costs, cost of production, allocation of production overhead and depreciation based on normal operating capacity and transportation. g) Property, plant and equipment: Initial recognition Property, plant and equipment are initially recorded at cost. The cost of purchased equipment includes expenditures that are directly attributable to the purchase price, delivery and installation. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to the location and condition for their intended use, the costs of dismantling and removing the items and restoring the site on which they are located, and borrowing costs on self-constructed assets that meet certain criteria. Borrowing costs incurred during construction and commissioning are capitalized until the plant is operating in the manner intended by management. Subsequent costs Routine repairs and maintenance costs are expensed as incurred. At regular intervals, the Company conducts a planned shutdown and inspection (turnaround) at its plants to perform major maintenance and replacement of catalysts. Costs associated with these shutdowns are capitalized and amortized over the period until the next planned turnaround and the carrying amounts of replaced components are derecognized and included in earnings. Depreciation Depreciation and amortization is generally provided on a straight-line basis at rates calculated to amortize the cost of property, plant and equipment from the commencement of commercial operations over their estimated useful lives to estimated residual value. The estimated useful lives of the Company’s buildings, plant installations and machinery at installation, excluding costs related to turnarounds, initially ranges from 10 to 25 years depending on the specific asset component and the production facility to which it is related. The Company determines the estimated useful lives of individual asset components based on the shorter of its physical life or economic life. The physical life of these assets is generally longer than the economic life. The economic life is primarily determined by the nature of the natural gas feedstock available to the various production facilities. The estimated useful life of production facilities may be adjusted from time-to-time based on turnarounds, plant refurbishments and gas availability. Factors that influence the nature of natural gas feedstock availability include the terms of individual natural gas supply contracts, access to natural gas supply through open markets, regional factors influencing the exploration and development of natural gas and the expected price of securing natural gas supply. The Company reviews the factors related to each production facility on an annual basis to determine if changes are required to the estimated useful lives. Recoverability of Asset Carrying Values Long-lived assets are tested for recoverability whenever events or changes in circumstances, either internal or external, indicate that the carrying amount may not be recoverable (“triggering events”). Examples of such triggering events related to our long-lived assets may include, but are not restricted to: a significant adverse change in the extent or manner in which the asset is being used or in its physical condition; a change in management’s intention or strategy for the asset, which includes a plan to dispose of the asset or idle the asset for a significant period of time; a significant adverse change in our long-term methanol price assumption or in the price or availability of natural gas feedstock required to manufacture methanol; a significant adverse change in legal factors or in the business climate that could affect the asset’s value, including an adverse action or assessment by a foreign government that impacts the use of the asset; or a current period operating or cash flow loss combined with a history of operating or cash flow losses, or a projection or forecast that demonstrates continuing losses associated with the asset’s use. When a triggering event is identified, recoverability of long-lived assets is measured by comparing the carrying value of an asset or cash-generating unit to the estimated recoverable amount, which is the higher of its estimated fair value less costs to sell or its value in use. Fair value less costs of disposal is determined by estimating the price that would be received to sell an asset in an orderly transaction between market participants under current market conditions, less incremental costs directly attributable to the disposal, excluding finance costs and income tax expense. Value in use is determined by measuring the pre-tax cash flows expected to be generated from the cash-generating unit over its estimated useful life discounted by a pre-tax discount rate. An impairment writedown is recorded if the carrying value exceeds the estimated recoverable amount. An impairment writedown recognized in prior periods for an asset or cash-generating unit is reversed if there has been a subsequent recovery in the value of the asset or cash-generating unit due to changes in events and circumstances. For the purposes of recognition and measurement of an impairment writedown or reversal, we group our long-lived assets with other assets and liabilities to form a “cash-generating unit” at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. To the extent that our methanol facilities in a particular location are interdependent as a result of common infrastructure and/or feedstock from shared sources that can be shared within a facility location, we group our assets based on site locations for the purpose of determining impairment. There are two key variables that impact our estimate of future cash flows from producing assets: (1) the methanol price and (2) the price and availability of natural gas feedstock. Short-term methanol price estimates are based on current supply and demand fundamentals and current methanol prices. Long-term methanol price estimates are based on our view of long-term supply and demand, incorporating third-party assumptions, forecasts and market observable prices when appropriate. Consideration is given to many factors, including, but not limited to, estimates of global industrial production rates, energy prices, changes in general economic conditions, the ability for the industry to add further global methanol production capacity and earn an appropriate return on capital, industry operating rates and the global industry cost structure. Our estimate of the price and availability of natural gas takes into consideration the current contracted terms, as well as factors that we believe are relevant to supply under these contracts and supplemental natural gas sources. Other assumptions included in our estimate of future cash flows include the estimated cost incurred to maintain the facilities, estimates of transportation costs and other variable costs incurred in producing methanol in each period. Changes in these assumptions will impact our estimates of future cash flows and could impact our estimates of the useful lives of property, plant and equipment. Consequently, it is possible that our future operating results could be adversely affected by further asset impairment charges or by changes in depreciation and amortization rates related to property, plant and equipment. In relation to previous impairment charges, we do not believe that there are significant changes in events or circumstances that would support their reversal. h) Other assets: Intangible assets are capitalized to other assets and amortized to depreciation and amortization expense on an appropriate basis to charge the cost of the assets against earnings. Financing fees related to undrawn credit facilities are capitalized to other assets and amortized to finance costs over the term of the credit facility. i) Leases: At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: • the contract involves the use of an identified asset - this may be specified explicitly or implicitly and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive substitution right, then the asset is not identified; • the Company has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and • the Company has the right to direct the use of the asset. The Company has the right when it has the decision-making rights that are most relevant to changing how and for what purpose the asset is used. For contracts that contain a lease, the Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of property, plant and equipment. In addition, the right-of-use asset is assessed for impairment losses, should a trigger be identified and adjusted for impairment if required. Lease terms range up to 18 years for vessels, terminals, equipment, and other items. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Company’s estimate of the amount expected to be payable under a residual value guarantee or if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. The assessment is reviewed upon a trigger by an event or a significant change in circumstances. Certain leases contain non-lease components, excluded from the right-of-use asset and lease liability, related to operating charges for ocean vessels and terminal facilities. Judgment is applied in the determination of the stand-alone price of the lease and non-lease components. The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets, except for terminal and vessel leases. The Company recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. j) Site restoration costs: The Company recognizes a liability to dismantle and remove assets or to restore a site upon which the assets are located. The Company estimates the present value of the expenditures required to settle the liability by determining the current market cost required to settle the site restoration costs, adjusts for inflation through to the expected date of the expenditures and then discounts this amount back to the date when the obligation was originally incurred. As the liability is initially recorded on a discounted basis, it is increased each period until the estimated date of settlement. The resulting expense is referred to as accretion expense and is included in finance costs. The Company reviews asset retirement obligations and adjusts the liability and corresponding asset as necessary to reflect changes in the estimated future cash flows, timing, inflation and discount rates underlying the measurement of the obligation. k) Employee future benefits: The Company has non-contributory defined benefit pension plans covering certain employees and defined contribution pension plans. The Company does not provide any significant post-retirement benefits other than pension plan benefits. For defined benefit pension plans, the net of the present value of the defined benefit obligation and the fair value of plan assets is recorded to the consolidated statements of financial position. The determination of the defined benefit obligation and associated pension cost is based on certain actuarial assumptions including inflation rates, mortality, plan expenses, salary growth and discount rates. The present value of the net defined benefit obligation (asset) is determined by discounting the net estimated future cash flows using current market bond yields that have terms to maturity approximating the terms of the net obligation. Actuarial gains and losses arising from differences between these assumptions and actual results are recognized in other comprehensive income and recorded in retained earnings. The Company recognizes gains and losses on the settlement of a defined benefit plan in income when the settlement occurs. The cost for defined contribution benefit plans is recognized in net income (loss) as earned by the employees. l) Share-based compensation: The Company grants share-based awards as an element of compensation. Share-based awards granted by the Company can include stock options, tandem share appreciation rights, share appreciation rights, deferred share units, restricted share units or performance share units. For stock options granted by the Company, the cost of the service received is measured based on an estimate of the fair value at the date of grant. The grant-date fair value is recognized as compensation expense over the vesting period with a corresponding increase in contributed surplus. On the exercise of stock options, consideration received, together with the compensation expense previously recorded to contributed surplus, is credited to share capital. The Company uses the Black-Scholes option pricing model to estimate the fair value of each stock option tranche at the date of grant. Share appreciation rights ("SARs") are units that grant the holder the right to receive a cash payment upon exercise for the difference between the market price of the Company’s common shares and the exercise price that is determined at the date of grant. Tandem share appreciation rights ("TSARs") give the holder the choice between exercising a regular stock option or a SAR. For SARs and TSARs, the cost of the service received is initially measured based on an estimate of the fair value at the date of grant. The grant-date fair value is recognized as compensation expense over the vesting period with a corresponding increase in liabilities. For SARs and TSARs, the liability is re-measured at each reporting date based on an estimate of the fair value with changes in fair value recognized as compensation expense for the proportion of the service that has been rendered at that date. The Company uses the Black-Scholes option pricing model to estimate the fair value for SARs and TSARs. Deferred, restricted and performance share units are grants of notional common shares that are redeemable for cash based on the market value of the Company’s common shares and are non-dilutive to shareholders. Performance share units granted prior to 2019 have an additional feature where the ultimate number of units that vest will be determined by the Company’s total shareholder return in relation to a predetermined target over the period to vesting. The number of units that will ultimately vest will be in the range 25% to 150% based on the weighted-average closing share price for the 90 calendar days on the NASDAQ Global Select Market immediately preceding the year end date that the performance share units vest. Performance share units granted in 2019 onwards reflect a new long-term incentive plan. The performance share units granted under the new plan are redeemable for cash based on the market value of the Company's common shares and are non-dilutive to shareholders. They vest over three years and include two performance factors: (i) relative total shareholder return of Methanex shares versus a specific market index (the market performance factor) and (ii) three year average Return on Capital Employed ("ROCE") (the non-market performance factor). The market performance factor is measured by the Company at the grant date and reporting date using a Monte-Carlo simulation model to determine fair value. The non-market performance factor reflects management's best estimate of ROCE over the performance period (using actual ROCE as applicable) to determine the expected number of units to vest. Based on these performance factors the performance share unit payout will range between 0% to 200%. For deferred, restricted and performance share units, the cost of the service received as consideration is initially measured based on the market value of the Company’s common shares at the date of grant. The grant-date fair value is recognized as compensation expense over the vesting period with a corresponding increase in liabilities. Deferred, restricted and performance share units are re-measured at each reporting date based on the market value of the Company’s common shares with changes in fair value recognized as compensation expense for the proportion of the service that has been rendered at that date. Additional information related to the stock option plan, TSARs, SARs and the deferred, restricted and performance share units is described in note 14. m) Net income (loss) per common share: The Company calculates basic net income (loss) per common share by dividing net income (loss) attributable to Methanex shareholders by the weighted average number of common shares outstanding and calculates diluted net income (loss) per common share under the treasury stock method. Under the treasury stock method, diluted net income (loss) per common share is calculated by considering the potential dilution that would occur if outstanding stock options and, under certain circumstances, TSARs were exercised or converted to common shares. Stock options and TSARs are considered dilutive when the average market price of the Company’s common shares during the period disclosed exceeds the exercise price of the stock option or TSAR. Outstanding TSARs may be settled in cash or common shares at the holder’s option. For the purposes of calculating diluted net income (loss) per common share, the more dilutive of the cash-settled or equity-settled method is used, regardless of how the plan is accounted for. Accordingly, TSARs that are accounted for using the cash-settled method will require adjustments to the numerator and denominator if the equity-settled method is determined to have a dilutive effect on diluted net income (loss) per common share. The calculation of basic net income (loss) per common share and a reconciliation to diluted net income (loss) per common share is presented in note 13. n) Revenue recognition: Revenue is recognized based on individual contract terms at the point in time when control of the product transfers to the customer, which usually occurs at the time shipment is made. Revenue is recognized at the time of delivery to the customer’s location if the contractual performance obligation has not been met during shipment. For methanol sold on a consignment basis, revenue is recognized at the point in time the customer draws down the consigned methanol. Revenue is measured and recorded at the most likely amount of consideration the Company expects to receive. By contract, the Company sells all the methanol produced by the Atlas Joint Venture and earns a commission on the sale of the methanol. As the Company obtains title and control of the methanol from the Atlas facility and directs the sale of the methanol to the Company's customers, the Company recognizes the revenue on these sales to customers at the gross amount receivable from the customers based on the Company's revenue recognition policy noted above. Cost of sales is recognized for these sales as the amount due to the Atlas Joint Venture which is the gross amount receivable less the commission earned by the Company. o) Financial instruments: All financial instruments are measured at fair value on initial recognition. Measurement in subsequent periods is dependent on the classification of the respective financial instrument. Financial instruments are classified into one of three categories and, depending on the category, will either be measured at amortized cost or fair value with fair value changes either recorded through profit or loss or other comprehensive income. All non-derivative financial instruments held by the Company are classified and measured at amortized cost. The Company enters into derivative financial instruments to manage certain exposures to commodity price and foreign exchange volatility. Under these standards, derivative financial instruments, including embedded derivatives, are classified as fair value through profit or loss and are recorded in the consolidated statements of financial position at fair value unless they are in accordance with the Company’s normal purchase, sale or usage requirements. The valuation of derivative financial instruments is a critical accounting estimate due to the complex nature of these instruments, the degree of judgment required to appropriately value these instruments and the potential impact of such valuation on the Company’s financial statements. The Company records all changes in fair value of derivative financial instruments in profit or loss unless the instruments are designated as cash flow hedges. The Company enters into and designates as cash flow hedges certain forward contracts to hedge its highly probable forecast natural gas purchases and certain forward exchange purchase and sales contracts to hedge foreign exchange exposure on anticipated purchases or sales. The Company assesses at inception and on an ongoing basis whether the hedges are and continue to be effective in offsetting changes in the cash flows of the hedged transactions. The effective portion of changes in the fair value of these hedging instruments is recognized in other comprehensive income. Any gain or loss in fair value relating to the ineffective portion is recognized immediately in profit or loss. Until settled, the fair value of the derivative financial instruments will fluctuate based on changes in commodity prices, foreign currency exchange rates or variable interest rates. Assessment of contracts as derivative instruments, applicability of the own use exemption, determination of whether hybrid instruments contain embedded derivatives to be separated, the valuation of financial instruments and derivatives and hedge effectiveness assessments require a high degree of judgment and are considered critical accounting estimates due to the complex nature of these products and the potential impact on our financial statements. p) Fair value measurements: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements within the scope of IFRS 13 are categorized into Level 1, 2 or 3 based on the degree to which the inputs are observable and the significance of the inputs to the fair value measurement in its entirety. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Financial instruments measured at fair value and categorized within the fair value hierarchy are disclosed in note 19. q) Income taxes: Income tax expense represents current tax and deferred tax. The Company records current tax based on the taxable profits for the period calculated using tax rates that have been enacted or substantively enacted by the reporting date. Income taxes relating to uncertain tax positions are provided for based on the Company’s best estimate. Deferred income taxes are accounted for using the liability method. The liability method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities and their tax bases. Deferred income tax assets and liabilities are determined for each temporary difference based on currently enacted or substantially enacted tax rates that are expected to be in effect when the underlying items are expected to be realized. The effect of a change in tax rates or tax legislation is recognized in the period of substantive enactment. Deferred tax assets, such as non-capital loss carryforwards, are recognized to the extent it is probable that taxable profit will be available against which the asset can be utilized. The Company accrues for taxes that will be incurred upon distributions from its subsidiaries when it is probable that the earnings will be repatriated. Uncertain tax positions, including interest and penalties, are recognized and measured applying management estimates. Given the complexity, management engages third-party experts as required, for the interpretation of tax law, transfer pricing regulations and determination of the ultimate resolution of its tax positions. The Company is subject to various taxation authorities who may interpret tax legislation differently, and resolve matters over longer-periods of time. The differences in judgement in assessing uncertain tax positions may result in material differences in the final amount or timing of the payment of taxes or settlement of tax assessments. r) Provisions: Provisions are recognized where a legal or constructive obligation has been incurred as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation. s) Segmented information: The Company’s operations consist of the production and sale of methanol, which constitutes a single operating segment. t) Application of new and revised accounting standards: We have adopted the amendments to IFRS 16, Leases regarding Covid-19 - Related Rent Concessions, which were effective retrospectively for annual periods beginning on or after January 1, 2020. The amendments did not have a material impact on the Company's consolidated financial statements. u) Anticipated changes to International Financial Reporting Standards: The Company does not expect that any new or amended standards or interpretations that are effective for annual periods beginning on or after January 1, 2021 will have a significant impact on the Company’s results of operations or financial position. The Company does not expect the implementation of amendments to IAS 16, Property, Plant, and Equipment, regarding the accounting for proceeds before intended use, effective for annual periods beginning on or after January 1, 2022 to have a significant impact on the Company's results of operations or financial position.

Trade and other receivables

Trade and other receivables	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Trade and other receivables	Trade and other receivables: As at Dec 31 Dec 31 Trade 335,988 $ 343,959 Egypt insurance recovery(a) — 50,000 Value-added and other tax receivables 22,903 44,408 Other 53,109 50,354 $ 412,000 $ 488,721 Egypt insurance recovery: We experienced an outage at the Egypt plant from April to August 2019. As at December 31, 2019, the insurance recovery of $50 million ($25 million our share), which partially offsets repair costs charged to earnings and lost margins incurred in the second and third quarters of 2019, had not yet been collected from our insurers. The final recovery of $60 million ($30 million our share) was collected in March 2020, leaving nil outstanding as at December 31, 2020.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventories [Abstract]
Inventories	Inventories: Inventories are valued at the lower of cost, determined on a first-in first-out basis, and estimated net realizable value. The amount of inventories recognized as an expense in cost of sales and operating expenses and depreciation and amortization for the year ended December 31, 2020 is $2,189 million (2019 - $2,742 million).

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
Property, plant and equipment	Property, plant and equipment: Owned Assets Right-of-use assets Total Net book value at December 31, 2020 $ 3,052,060 $ 624,996 $ 3,677,056 Net book value at December 31, 2019 $ 2,940,777 $ 635,418 $ 3,576,195 a) Owned assets: Buildings, plant installations and machinery Plants under construction Ocean going vessels Other TOTAL Cost at January 1, 2020 $ 4,787,515 $ 155,871 $ 201,947 $ 154,468 $ 5,299,801 Additions 116,850 231,034 20,838 1,414 370,136 Disposals and other (42,453) — (12,686) — (55,139) Cost at December 31, 2020 4,861,912 386,905 210,099 155,882 5,614,798 Accumulated depreciation at January 1, 2020 2,215,060 — 25,448 118,516 2,359,024 Disposals and other (31,058) — (8,601) (29) (39,688) Depreciation 229,174 — 11,079 3,149 243,402 Accumulated depreciation at December 31, 2020 2,413,176 — 27,926 121,636 2,562,738 Net book value at December 31, 2020 $ 2,448,736 $ 386,905 $ 182,173 $ 34,246 $ 3,052,060 Buildings, plant installations and machinery Plants under construction Ocean going vessels Other TOTAL Cost at January 1, 2019 $ 4,698,142 $ — $ 183,419 $ 189,058 $ 5,070,619 Additions 150,570 118,249 57,479 4,338 330,636 Disposals and other (61,197) — (38,951) (1,306) (101,454) Transfers 1 — 37,622 — (37,622) — Cost at December 31, 2019 4,787,515 155,871 201,947 154,468 5,299,801 Accumulated depreciation at January 1, 2019 2,047,735 — 48,426 117,192 2,213,353 Disposals and other (63,169) — (31,620) (1,597) (96,386) Depreciation 230,494 — 8,642 2,921 242,057 Accumulated depreciation at December 31, 2019 2,215,060 — $ 25,448 118,516 2,359,024 Net book value at December 31, 2019 $ 2,572,455 $ 155,871 $ 176,499 $ 35,952 $ 2,940,777 1 During 2019, the Company reclassified $38 million of assets, including $19 million of land, relating to the construction of Geismar 3 from Other to Plants under construction. In Trinidad we have indefinitely idled the Titan plant, because we have not been successful in securing a commercially acceptable long-term gas supply agreement. This led to the decision to restructure our operations in Trinidad to support a one-plant operation dedicated to the operation of our Atlas plant. As a result, we have identified an impairment indicator in our Titan cash generating unit ("Titan CGU"). The impairment test performed on the Titan CGU resulted in no impairment as the estimated recoverable value, determined on a fair value less costs of disposal methodology, exceeded the carrying value. The estimated recoverable value was based on an operating period for Titan aligned to natural gas reserves estimates in Trinidad with no terminal value, discounted at an after-tax rate of 13%. The following table indicates the percentages by which key assumptions would need to change individually for the estimated Titan CGU recoverable value to be equal to the carrying value: Key Assumptions Change Required for Carrying Value to Equal Recoverable Value Long-term average realized price 3 percent decrease Production volumes 11 percent decrease Gas price 7 percent increase Discount rate (after-tax) 330 basis points increase The sensitivity above has been prepared considering each variable independently. Historically, our natural gas contracts in Trinidad have included terms whereby a change in methanol price results in a change in natural gas price, protecting margins should revenue decrease. b) Right-of-use (leased) assets: Ocean going vessels Terminals and tanks Plant installations and machinery Other TOTAL Cost at January 1, 2020 $ 514,661 $ 221,303 $ 23,613 $ 38,520 $ 798,097 Additions 86,214 25,758 148 1,885 114,005 Disposals and other (18,803) (508) — (735) (20,046) Cost at December 31, 2020 582,072 246,553 23,761 39,670 892,056 Accumulated depreciation at January 1, 2020 89,643 59,240 7,867 5,929 162,679 Disposals and other (13,727) — — (299) (14,026) Depreciation 76,700 32,594 2,541 6,572 118,407 Accumulated depreciation at December 31, 2020 152,616 91,834 10,408 12,202 267,060 Net book value at December 31, 2020 $ 429,456 $ 154,719 $ 13,353 $ 27,468 $ 624,996 Ocean going vessels Terminals and tanks Plant installations and machinery Other TOTAL Cost at January 1, 2019 $ 370,654 $ 207,721 $ 19,705 $ 30,399 $ 628,479 Additions 144,764 13,582 3,908 9,738 171,992 Disposals and other (757) — — (1,617) (2,374) Cost at December 31, 2019 514,661 221,303 23,613 38,520 798,097 Accumulated depreciation at January 1, 2019 15,204 29,333 5,444 — 49,981 Disposals and other — — — — — Depreciation 74,439 29,907 2,423 5,929 112,698 Accumulated depreciation at December 31, 2019 89,643 59,240 7,867 5,929 162,679 Net book value at December 31, 2019 $ 425,018 $ 162,063 $ 15,746 $ 32,591 $ 635,418

Investment in associate

Investment in associate	12 Months Ended
	Dec. 31, 2020
Interests In Other Entities [Abstract]
Investment in associate	Investment in associate: a) The Company has a 63.1% equity interest in Atlas Methanol Company Unlimited ("Atlas"). Atlas owns a 1.8 million tonne per year methanol production facility in Trinidad. The Company accounts for its interest in Atlas using the equity method. Summarized financial information of Atlas (100% basis) is as follows: Consolidated statements of financial position as at Dec 31 Dec 31 Cash and cash equivalents $ 40,815 $ 50,149 Other current assets 1 65,434 60,709 Non-current assets 256,421 241,860 Current liabilities 1 (43,057) (28,191) Other long-term liabilities, including current maturities (133,079) (138,866) Net assets at 100% $ 186,534 $ 185,661 Net assets at 63.1% $ 117,703 $ 117,152 Long-term receivable from Atlas 1 76,322 76,322 Investment in associate $ 194,025 $ 193,474 Consolidated statements of income for the years ended December 31 2020 2019 Revenue 1 $ 250,996 $ 359,425 Cost of sales and depreciation and amortization (170,714) (217,333) Operating income 80,282 142,092 Finance costs, finance income and other expenses (10,297) (11,381) Income tax expense (23,112) (47,957) Net earnings at 100% $ 46,873 $ 82,754 Earnings of associate at 63.1% $ 29,577 $ 52,218 Dividends received from associate $ 29,026 $ 56,159 1 Includes related party transactions between Atlas and the Company (see note 23). b) Atlas Tax Assessments: The Board of Inland Revenue of Trinidad and Tobago ("the BIR") has audited and issued assessments against Atlas in respect of the 2005 to 2014 financial years. All subsequent tax years remain open to assessment. The assessments relate to the pricing arrangements of certain long-term fixed-price sales contracts with affiliates that commenced in 2005 and continued with affiliates through 2019. The long-term fixed-price sales contracts with affiliates were established as part of the formation of Atlas and management believes were reflective of market considerations at that time. During the periods under assessment and continuing through 2014, approximately 50% of Atlas-produced methanol was sold under these fixed-price contracts. From late 2014 through 2019 fixed-price sales represented approximately 10% of Atlas produced methanol. Atlas had partial relief from corporation income tax until late July 2014. The Company believes it is impractical to disclose a reasonable estimate of the potential contingent liability due to the wide range of assumptions and interpretations implicit in the assessments. The Company has lodged objections to the assessments. No deposits have been required to lodge objections. Based on the merits of the cases and advice from legal counsel, the Company believes its position should be sustained, that Atlas has filed its tax returns and paid applicable taxes in compliance with Trinidadian tax law, and as such has not accrued for any amounts relating to these assessments. Contingencies inherently involve the exercise of significant judgment, and as such the outcomes of these assessments and the financial impact to the Company could be material. The Company anticipates the resolution of this matter in the court system to be lengthy and, at this time, cannot predict a date as to when this matter is expected to be ultimately resolved.

Other assets

Other assets	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Other assets	Other assets: As at Dec 31 Dec 31 Restricted cash for debt service (a) $ 26,915 $ 22,648 Restricted cash for debt service and major maintenance of vessels (a) 15,064 13,505 Restricted cash relating to government grants — 3,260 Chile VAT receivable 22,118 20,874 Deferred financing fees 8,813 3,010 Investment in Carbon Recycling International 4,620 4,620 Defined benefit pension plans (note 21) 4,794 5,856 Other 16,839 17,218 Total other assets $ 99,163 $ 90,991 Less current portion (b) (6,634) (8,180) $ 92,529 $ 82,811 a) Restricted cash The Company hol ds $42.0 million (2019 - $39.4 million) of restricted cash for the funding of debt service and major maintenance accounts. b) Current portion of other assets Other assets presented as cu rrent assets as at December 31, 2020 includes $6.2 million of restricted cash for major maintenance, in particular the anticipated dry docking of two vessels, as well as $0.4 million for the current portion of the North A merica gas hedge (see note 19).

Long-term debt

Long-term debt	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Long-term debt	Long-term debt: As at Dec 31 Dec 31 Unsecured notes (i) $250 million at 5.25% due March 1, 2022 — 248,912 (ii) $300 million at 4.25% due December 1, 2024 297,999 297,607 (iii) $700 million at 5.125% due October 15, 2027 691,434 — (iv) $700 million at 5.25% due December 15, 2029 694,282 693,822 (v) $300 million at 5.65% due December 1, 2044 295,410 295,321 1,979,125 1,535,662 Geismar 3 construction facility at LIBOR+3% 176,335 — Egypt limited recourse debt facilities 46,948 75,165 Other limited recourse debt facilities (i) LIBOR+0.75% to LIBOR+2.5% due through 2019 to 2021 — 1,526 (ii) 5.58% due through June 30, 2031 69,734 73,700 (iii) 5.35% due through September 30, 2033 78,391 82,800 (iv) 5.08% due through September 15, 2036 12,839 — 160,964 158,026 Total long-term debt 1 2,363,372 1,768,853 Less current maturities 1 (39,771) (38,420) $ 2,323,601 $ 1,730,433 1 Long-term debt and current maturities are presented net of discounts and deferred financing fees of $25.4 million as at December 31, 2020 (2019 - $20.4 million). The Egypt limited recourse debt facilities have interest payable semi-annually with rates based on LIBOR plus a spread ranging from 1.6% to 1.9% per annum. Principal is paid in 24 semi-annual payments, which commenced in September 2010. Other limited recourse debt facilities relate to financing for certain ocean going vessels which we own through less than wholly-owned entities under the Company's control. During 2020, the Company, through 50% owned entities, issued other limited recourse debt for $13 million bearing an interest rate of 5.08% with principal repayments due through September 2036. The debt will be used to acquire one ocean going vessel with expected delivery in in 2021. For the year ended December 31, 2020, non-cash accretion, on an effective interest basis, of deferred financing costs included in finance costs was $3.6 million (2019 - $3.6 million). The gross minimum principal payments for long-term debt in aggregate and for each of the five succeeding years are as follows: Egypt limited recourse debt facilities Other limited recourse debt facilities Unsecured Construction Facility 1 Total 2021 $ 31,552 $ 8,824 $ — $ — $ 40,376 2022 16,606 11,778 — — 28,384 2023 — 12,424 — — 12,424 2024 — 12,576 300,000 173,000 485,576 2025 — 13,654 — — 13,654 Thereafter — 105,002 1,700,000 — 1,805,002 $ 48,158 $ 164,258 $ 2,000,000 $ 173,000 $ 2,385,416 1 Balance in long-term debt exceeds the principal payments by $3.3 million due the treatment for modification of interest terms. During the year ended December 31, 2020, the Company issued $700 million of senior unsecured notes bearing a coupon of 5.125%, due October 15, 2027 and repaid $250 million of unsecured notes due March 1, 2022. Additionally, the Company drew down $173 million of the $800 million non-revolving construction facility for the Geismar 3 project. The Company also has access to a $300 million committed revolving credit facility which is undrawn as at December 31, 2020. Both facilities are with a syndicate of highly rated financial institutions and expire in July 2024. The covenants governing the Company’s unsecured notes, which are specified in an indenture, apply to the Company and its subsidiaries, excluding entities which we control but do not fully own, and include restrictions on liens, sale and lease-back transactions, a merger or consolidation with another corporation or sale of all or substantially all of the Company’s assets. The indenture also contains customary default provisions. Significant covenants and default provisions under both facilities include: i) the obligation to maintain an EBITDA to interest coverage ratio of not less than or equal to 2:1 calculated on a four-quarter trailing basis where for only one quarter during the term of the credit facility the ratio can be as low as, but not less than 1.25:1, and a debt to capitalization ratio of less than or equal to 57.5%, both ratios calculated in accordance with definitions in the credit agreement that include adjustments related to the limited recourse subsidiaries, ii) a default if payment is accelerated by a creditor on any indebtedness of $50 million or more of the Company and its subsidiaries, except for the limited recourse subsidiaries, and iii) a default if a default occurs that permits a creditor to demand repayment on any other indebtedness of $50 million or more of the Company and its subsidiaries, except for the limited recourse subsidiaries. The credit facilities are secured by certain assets of the Company, and also include other customary covenants including restrictions on the incurrence of additional indebtedness, restrictions against the sale or abandonment of the Geismar 3 project, as well as requirements associated with completion of plant construction and commissioning. During the year ended December 31, 2020, the Company amended the terms of the committed revolving credit facility and the non-revolving construction facility for the Geismar 3 project, with the lenders modifying and waiving certain covenants. As part of the amendments, the debt to capitalization ratio has been increased to 60% for all the measurement periods starting on June 30, 2020 and ending on June 30, 2023. Additionally, the minimum interest coverage ratio threshold was lowered or waived for each of the measurement periods starting June 30, 2020 and ending on December 31, 2021. The impact on the remaining periods for which the waivers apply is as follows: Four quarters ended Minimum interest coverage ratio 2 Minimum EBITDA 1 2 Q4 2020 not applicable $25 million Q1 2021 not applicable $30 million Q2 2021 not applicable $70 million Q3 2021 1.00x not applicable Q4 2021 1.25x not applicable Q1 2022 & thereafter 2.00x not applicable 1 EBITDA is defined under the terms of the credit facilities. 2 The minimum EBITDA or minimum interest coverage ratio provision may be fully waived for any two of the remaining measurement periods until Q4 2021. The limited recourse debt facilities are described as limited recourse as they are secured only by the assets of the entity that carries the debt. Accordingly, the lenders to the limited recourse debt facilities have no recourse to the Company or its other subsidiaries. The Egypt limited recourse debt facilities have covenants and default provisions that apply only to the Egypt entity, including restrictions on the incurrence of additional indebtedness and a requirement to fulfill certain conditions before the payment of cash or other shareholder distributions. Shareholder distributions are not permitted unless the average gas deliveries over the prior 12 months are greater than 70% of gas nominations. Failure to comply with any of the covenants or default provisions of the long-term debt facilities described above could result in a default under the applicable credit agreement that would allow the lenders to not fund future loan requests, accelerate the due date of the principal and accrued interest on any outstanding loans or restrict the payment of cash or other distributions.

Lease obligations

Lease obligations	12 Months Ended
	Dec. 31, 2020
Disclosure of leases [Abstract]
Lease obligations	Lease obligations: 2020 2019 Opening lease obligations 718,505 652,642 Additions, net of disposals 108,763 168,216 Interest expense 47,871 43,288 Lease payments (154,727) (145,100) Effect of movements in exchange rates and other 1,822 (541) Lease obligations at December 31 722,234 718,505 Less: current portion (97,516) (89,820) Lease obligations - non current portion $ 624,718 $ 628,685 The Company incurs lease payments related to ocean vessels, terminal facilities, rail cars, vehicles and equipment, and office facilities. Leases are entered into and exited in coordination with specific business requirements which includes the assessment of the appropriate durations for the related leased assets. The following table presents the contractual undiscounted cash flows for lease obligations as at December 31, 2020: Lease Interest Lease obligations 2021 $ 142,096 $ 44,580 $ 97,516 2022 118,139 40,075 78,064 2023 110,354 35,760 74,594 2024 101,467 31,622 69,845 2025 90,875 27,370 63,505 Thereafter 419,456 80,746 338,710 $ 982,387 $ 260,153 $ 722,234 Variable lease payments and short-term and low value leases Certain leases contain non-lease components, excluded from the right-of-use asset and lease liability, related to operating charges for ocean vessels and terminal facilities. The total expense recognized in cost of sales relating to operating charges for 2020 was $91.8 million (2019 - $83.7 million). Short-term leases are leases with a lease term of twelve months or less while low-value leases comprised of information technology and miscellaneous equipment. Such items recognized within cost of sales in 2020 were $0.3 million (2019 - $0.5 million). Extension options Some leases contain extension options exercisable by the Company. Where practicable, the Company seeks to include extension options in new leases to provide operational flexibility. The extension options held are exercisable only by the Company and not by the lessors. The Company assesses, at lease commencement, whether it is reasonably certain to exercise the extension options. The Company reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant change in circumstances within its control. Total potential future lease payments not included in the lease liabilities should the Company exercise these extension options totals $53.4 million (2019 - $70.6 million). Lease liabilities recognized (discounted) Potential future lease payments not included in lease liabilities (undiscounted) Ocean going vessels $ 472,322 $ 5,994 Terminals and tanks 194,938 30,161 Other 54,974 17,209 Total $ 722,234 $ 53,364 Leases not yet commenced As at December 31, 2020, the Company has entered into lease agreements for which the leases have not yet commenced. Total exposure to undiscounted future cash outflows not reflected in lease liabilities is $550.8 million (2019 - $6.6 million). The leases not yet commenced as at December 31, 2020 related solely to ocean vessels, with the majority comprised of the addition of 8 new dual-fuel ocean going vessels from 2021 to 2023 with 15-year terms, replacing expiring time charter vessels. The leases not yet commenced as at December 31, 2019 related to storage tank agreements now in place.

Other long-term liabilities

Other long-term liabilities	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Other long-term liabilities	Other long-term liabilities: As at Dec 31 Dec 31 Cash flow hedges (note 19) $ 180,798 $ 195,124 Share-based compensation liability (note 14) 71,913 18,382 Defined benefit pension plans (note 21) 36,646 28,121 Site restoration costs 31,941 31,092 Land mortgage 29,430 29,849 Government grant construction obligation — 3,173 Other 3,915 6,582 354,643 312,323 Less current maturities (27,152) (26,252) $ 327,491 $ 286,071 Site restoration costs: The Company has accrued liabilities related to the decommissioning and reclamation of its methanol production sites and oil and gas properties. Because of uncertainties in estimating the amount and timing of the expenditures related to the sites, actual results could differ from the amounts estimated. As at December 31, 2020, the total undiscounted amount of estimated cash flows required to settle the liabilities was $35.5 million (2019 - $38.1 million). The movement in the provision during the year is explained as follows: 2020 2019 Balance at January 1 $ 31,092 $ 27,638 New or revised provisions 423 2,638 Accretion expense 426 816 Balance at December 31 $ 31,941 $ 31,092

Expenses

Expenses	12 Months Ended
	Dec. 31, 2020
Analysis of income and expense [abstract]
Expenses	Expenses: For the years ended December 31 2020 2019 Cost of sales $ 2,107,533 $ 2,570,840 Selling and distribution 498,126 498,738 Administrative expenses 106,593 74,486 Total expenses by function $ 2,712,252 $ 3,144,064 Cost of raw materials and purchased methanol 1,705,387 2,169,027 Ocean freight and other logistics 328,635 334,650 Employee expenses, including share-based compensation 246,779 184,171 Other expenses 74,322 112,089 Cost of sales and operating expenses 2,355,123 2,799,937 Depreciation and amortization 357,129 344,127 Total expenses by nature $ 2,712,252 $ 3,144,064 For the year ended December 31, 2020 we recorded a share-based compensation expense of $55.3 million (2019 - recovery of $4.0 million), the majority of which is included in administrative expenses for the total expenses by function presentation above. Included in cost of sales is $251 million (2019 - $359 million) of cost of sales which are recognized as sales to Methanex in our Atlas equity investee’s statements of income.

Finance costs

Finance costs	12 Months Ended
	Dec. 31, 2020
Borrowing costs [abstract]
Finance cost	Finance costs: For the years ended December 31 2020 2019 Finance costs before capitalized interest $ 182,841 $ 127,282 Less capitalized interest (18,004) (2,856) Finance costs $ 164,837 $ 124,426

Net income (loss) per common sh

Net income (loss) per common share	12 Months Ended
	Dec. 31, 2020
Earnings per share [abstract]
Net income (loss) per common share	Net income (loss) per common share: Diluted net income (loss) per common share is calculated by considering the potential dilution that would occur if outstanding stock options and, under certain circumstances, TSARs were exercised or converted to common shares. Outstanding TSARs may be settled in cash or common shares at the holder’s option and for purposes of calculating diluted net income (loss) per common share, the more dilutive of the cash-settled and equity-settled method is used, regardless of how the plan is accounted for. Accordingly, TSARs that are accounted for using the cash-settled method will require adjustments to the numerator and denominator if the equity-settled method is determined to have a dilutive effect on diluted net income (loss) per common share as compared to the cash-settled method. The cash-settled method was more dilutive for the year ended December 31, 2020, and no adjustment was required for both the numerator and denominator. The equity-settled method was more dilutive for the year ended December 31, 2019, and an adjustment was required for both the numerator and denominator. Stock options and, if calculated using the equity-settled method, TSARs are considered dilutive when the average market price of the Company’s common shares during the period disclosed exceeds the exercise price of the stock option or TSAR. For the year ended December 31, 2020 stock options were not dilutive, resulting in no adjustment to the denominator. For the year ended December 31, 2019, stock options were considered dilutive, resulting in an adjustment to the denominator. A reconciliation of the numerator used for the purposes of calculating diluted net income (loss) per common share is as follows: For the years ended December 31 2020 2019 Numerator for basic net income (loss) per common share (156,678) $ 87,767 Adjustment for the effect of TSARs: Cash-settled recovery included in net income — (5,433) Equity-settled expense — (4,807) Numerator for diluted net income (loss) per common share (156,678) $ 77,527 A reconciliation of the denominator used for the purposes of calculating basic and diluted net income (loss) per common share is as follows: For the years ended December 31 2020 2019 Denominator for basic net income (loss) per common share 76,196,395 76,592,413 Effect of dilutive stock options — 17,325 Effect of dilutive TSARS — 82,756 Denominator for diluted net income (loss) per common share 76,196,395 76,692,494 For the years ended December 31, 2020 and 2019, basic and diluted net income (loss) per common share attributable to Methanex shareholders were as follows: For the years ended December 31 2020 2019 Basic net income (loss) per common share $ (2.06) $ 1.15 Diluted net income (loss) per common share $ (2.06) $ 1.01

Share-based compensation

Share-based compensation	12 Months Ended
	Dec. 31, 2020
Share-Based Payment Arrangements [Abstract]
Share-based compensation	Share-based compensation: The Company provides share-based compensation to its directors and certain employees through grants of stock options, TSARs, SARs and deferred, restricted or performance share units. As at December 31, 2020, the Company had 3,654,046 common shares reserved for future grants of stock options and tandem share appreciation rights under the Company’s stock option plan. a) Share appreciation rights and tandem share appreciation rights: All SARs and TSARs granted have a maximum term of seven years with one-third vesting each year from the date of grant. SARs and TSARs units outstanding at December 31, 2020 and 2019 are as follows: SARs TSARs Number of Exercise Number of Exercise Outstanding at December 31, 2018 896,883 $ 51.27 1,447,301 $ 51.24 Granted 29,320 57.60 294,680 56.70 Exercised (39,662) 37.25 (45,769) 37.08 Cancelled (29,134) 54.72 (34,885) 53.38 Outstanding at December 31, 2019 857,407 $ 52.02 1,661,327 $ 52.55 Granted 96,160 29.27 761,050 29.27 Exercised (20,635) 34.59 (1,900) 34.59 Cancelled (31,660) 58.13 (5,967) 58.38 Expired (60,500) 38.24 (74,020) 38.24 Outstanding at December 31, 2020 840,772 $ 50.61 2,340,490 $ 45.43 Information regarding the SARs and TSARs outstanding as at December 31, 2020 is as follows: Units outstanding at December 31, 2020 Units exercisable at December 31, 2020 Range of exercise prices Weighted average remaining contractual life (years) Number of units outstanding Weighted average exercise price Number of units exercisable Weighted average exercise price SARs $29.27 to $35.51 3.62 260,071 $ 32.62 163,911 $ 34.59 $45.40 to $50.17 3.11 125,784 50.15 125,784 50.15 $54.65 to $78.59 1.86 454,917 61.01 397,516 61.77 2.59 840,772 $ 50.61 687,211 $ 53.16 TSARs $29.27 to $35.51 5.02 1,067,987 $ 30.80 306,937 $ 34.59 $45.40 to $50.17 3.33 311,184 49.84 296,637 50.05 $54.65 to $78.59 3.06 961,319 60.27 674,907 61.74 3.99 2,340,490 $ 45.43 1,278,481 $ 52.51 The fair value of each outstanding SARs and TSARs grant was estimated on December 31, 2020 and 2019 using the Black-Scholes option pricing model with the following weighted average assumptions: 2020 2019 Risk-free interest rate 0.1% 1.6% Expected dividend yield 0.3% 3.7% Expected life of SARs and TSARs (years) 1.6 1.2 Expected volatility 60% 38% Expected forfeitures 0.0% 0.1% Weighted average fair value (USD per share) $ 13.36 $ 3.03 Compensation expense for SARs and TSARs is measured based on their fair value and is recognized over the vesting period. Changes in fair value in each period are recognized in net income for the proportion of the service that has been rendered at each reporting date. The fair value as at December 31, 2020 was $44.6 million compared with the recorded liability of $40.4 million. The difference between the fair value and the recorded liability of $4.2 million will be recognized over the weighted average remaining vesting period of approximately 1.7 years. For the year ended December 31, 2020, compensation expense related to SARs and TSARs included an expense in cost of sales and operating expenses of $33.1 million (2019 - recovery of $8.7 million). This included an expense of $27.2 million (2019 - recovery of $13.7 million) related to the effect of the change in the Company’s share price. b) Deferred, restricted and performance share units (old plan and new plan): Deferred, restricted and performance share units (old plan and new plan) outstanding as at December 31, 2020 and 2019 are as follows: Number of deferred share units Number of restricted share units Number of performance share units (old plan) Number of performance share units (new plan) Outstanding at December 31, 2018 209,092 17,361 579,778 — Granted 14,158 79,240 — 134,930 Performance factor impact on redemption 1 — — 132,215 — Granted in lieu of dividends 4,031 2,840 9,909 4,464 Redeemed (137,515) (15,428) (396,635) — Cancelled — (845) (21,822) (1,356) Outstanding at December 31, 2019 89,766 83,168 303,445 138,038 Granted 29,393 154,460 — 301,090 Performance factor impact on redemption 1 — — (117,674) — Granted in lieu of dividends 3,788 7,326 4,529 13,597 Redeemed — (7,713) (39,612) (1,842) Cancelled — (8,369) (3,887) (7,713) Outstanding at December 31, 2020 122,947 228,872 146,801 443,170 1 Performance share units granted prior to 2019 have a feature where the ultimate number of units that vest are adjusted by a performance factor of the original grant as determined by the Company's total shareholder return in relation to a predetermined target over the period to vesting. These units relate to performance share units redeemed in the quarter ended March 31, 2019, and the quarter ended March 31, 2020. Performance share units granted since 2019 reflect a new long-term incentive plan. The performance share units granted under the new plan are redeemable for cash based on the market value of the Company's common shares and are non-dilutive to shareholders. They vest over three years and include two performance factors: (i) relative total shareholder return of Methanex shares versus a specific market index (the market performance factor) and (ii) three year average Return on Capital Employed (the non-market performance factor). The market performance factor is measured by the Company at the grant date and reporting date using a Monte-Carlo simulation model to determine fair value. The non-market performance factor reflects management's best estimate to determine the expected number of units to vest. Based on these performance factors the performance share unit payout will range between 0% to 200%, with the first payout of the new performance share units in 2022. Compensation expense for deferred, restricted and performance share units is measured at fair value based on the market value of the Company’s common shares and is recognized over the vesting period. Changes in fair value are recognized in net income for the proportion of the service that has been rendered at each reporting date. The fair value of deferred, restricted and performance share units as at December 31, 2020 was $46.9 million compared with the recorded liability of $31.5 million. The difference between the fair value and the recorded liability of $15.4 million will be recognized over the weighted average remaining vesting period of approximately 1.7 years. For the year ended December 31, 2020, compensation expense related to deferred, restricted and performance share units included in cost of sales and operating expenses was an expense of $22.0 million (2019 - expense of $4.5 million). This included an expense of $11.4 million (2019 - recovery of $4.9 million) related to the effect of the change in the Company’s share price. c) Stock options: The exercise price of each stock option is equal to the quoted market price of the Company’s common shares at the date of the grant. Options granted have a maximum term of seven years with one-third of the options vesting each year after the date of grant. Common shares reserved for outstanding incentive stock options as at December 31, 2020 and 2019 are as follows: Number of stock options Weighted average exercise price Outstanding at December 31, 2018 198,221 $ 48.55 Granted 7,410 57.60 Exercised (2,700) 31.73 Cancelled (2,300) 52.31 Outstanding at December 31, 2019 200,631 $ 49.07 Granted 15,440 $ 29.27 Exercised (5,900) 34.59 Cancelled (5,600) 58.96 Expired (31,320) 38.24 Outstanding at December 31, 2020 173,251 $ 49.44 Information regarding the stock options outstanding as at December 31, 2020 is as follows: Options outstanding at December 31, 2020 Options exercisable at December 31, 2020 Range of exercise prices Weighted average remaining contractual life (years) Number of stock options outstanding Weighted average exercise price Number of stock options exercisable Weighted average exercise price Options $29.27 to $35.51 3.14 63,307 $ 33.29 47,867 $ 34.59 $45.40 to $50.17 3.17 24,034 50.17 24,034 50.17 $54.65 to $78.59 1.89 85,910 61.13 74,402 61.94 2.53 173,251 $ 49.44 146,303 $ 51.06

Segmented information

Segmented information	12 Months Ended
	Dec. 31, 2020
Operating Segments [Abstract]
Segmented information	Segmented information: The Company’s operations consist of the production and sale of methanol, which constitutes a single operating segment. During the years ended December 31, 2020 and 2019, revenues attributed to geographic regions, based on the location of customers, were as follows: Revenue China Europe United States South Korea South America Canada Other Asia TOTAL 2020 $ 828,277 $ 488,955 $ 419,461 $ 284,461 $ 269,853 $ 117,480 $ 241,476 $ 2,649,963 31 % 18 % 16 % 12 % 10 % 4 % 9 % 100 % 2019 $ 998,302 $ 634,647 $ 581,631 $ 320,394 $ 307,706 $ 145,386 $ 295,448 $ 3,283,514 30 % 19 % 18 % 11 % 9 % 4 % 9 % 100 % As at December 31, 2020 and 2019, the net book value of property, plant and equipment by country was as follows: Property, plant and equipment 1 United States Egypt New Zealand Trinidad Canada Chile Waterfront Shipping Other TOTAL December 31, 2020 $ 1,727,982 $ 617,017 $ 241,581 $ 120,130 $ 191,010 $ 124,271 $ 610,843 $ 44,222 $ 3,677,056 December 31, 2019 $ 1,548,165 $ 657,961 $ 282,493 $ 146,273 $ 127,075 $ 145,892 $ 602,344 $ 65,992 $ 3,576,195 1 Includes right-of-use (leased) assets.

Income and other taxes

Income and other taxes	12 Months Ended
	Dec. 31, 2020
Income Taxes [Abstract]
Income and other taxes	Income and other taxes: a) Income tax recovery (expense): For the years ended December 31 2020 2019 Current tax recovery (expense): Current period before undernoted items $ (27,759) $ (38,953) Adjustments to prior years 2,563 144 (25,196) (38,809) Deferred tax recovery (expense): Origination and reversal of temporary differences 89,301 31,389 Adjustments to prior years (1,067) (138) Changes in tax rates (5,031) 2,141 Other 4,098 943 87,301 34,335 Total income tax recovery (expense) $ 62,105 $ (4,474) b) Reconciliation of the effective tax rate: The Company operates in several tax jurisdictions and therefore its income is subject to various rates of taxation. Income tax expense differs from the amounts that would be obtained by applying the Canadian statutory income tax rate to net income before income taxes as follows: For the years ended December 31 2020 2019 Income (loss) before income taxes $ (187,432) $ 120,840 Deduct earnings of associate (29,577) (52,218) (217,009) 68,622 Canadian statutory tax rate 25.6 % 26.8 % Income tax recovery (expense) calculated at Canadian statutory tax rate 55,554 (18,411) Decrease (increase) in income tax expense resulting from: Impact of income and losses taxed in foreign jurisdictions 3,771 7,001 Utilization of unrecognised loss carryforwards and temporary differences 7,013 6,945 Impact of tax rate changes (5,031) 2,141 Impact of foreign exchange 3,748 (484) Other business taxes (3,081) (2,798) Impact of recovery items (expenses) not taxable (deductible) for tax purposes (5,461) 1,826 Adjustments to prior years 1,496 6 Other 4,096 (700) Total income tax recovery (expense) 62,105 $ (4,474) Effective from July 1, 2020 changes in Alberta provincial corporate income tax rates resulted in a lower statutory tax rate applicable to Methanex in Canada in 2020 when compared to 2019. c) Net deferred income tax assets and liabilities: (i) The tax effect of temporary differences that give rise to deferred income tax liabilities and deferred income tax assets is as follows: As at Dec 31, 2020 Dec 31, 2019 Net Deferred tax assets Deferred tax liabilities Net Deferred tax assets Deferred tax liabilities Property, plant and equipment (owned) $ (448,533) $ (262,020) $ (186,513) $ (447,077) $ (250,890) $ (196,187) Right-of-use assets (43,386) (35,297) (8,089) (45,501) (26,725) (18,776) Repatriation taxes (102,370) — (102,370) (93,363) — (93,363) Other (15,205) — (15,205) (10,424) (48) (10,376) (609,494) (297,317) (312,177) (596,365) (277,663) (318,702) Non-capital loss carryforwards 391,132 339,396 51,736 286,004 286,004 — Lease obligations 56,894 44,455 12,439 56,802 33,979 22,823 Share-based compensation 14,669 1,758 12,911 3,075 — 3,075 Other 70,931 49,232 21,699 89,278 69,294 19,984 533,626 434,841 98,785 435,159 389,277 45,882 Net deferred income tax assets (liabilities) $ (75,868) $ 137,524 $ (213,392) $ (161,206) $ 111,614 $ (272,820) As at December 31, 2020, deferred income tax assets have been recognized in respect of non-capital loss carryforwards generated in the United States. These loss carryforwards expire as follows: Dec 31 2020 Gross amount Tax effect Expire Losses generated in 2014 (expires 2034) $ 33,252 $ 7,648 Losses generated in 2015 (expires 2035) 351,625 80,874 Losses generated in 2016 (expires 2036) 432,581 99,494 Losses generated in 2017 (expires 2037) 234,941 54,036 1,052,399 242,052 No expiry Losses generated in 2019 232,163 53,397 Losses generated in 2020 140,021 32,205 Total non-capital loss carryforwards $ 1,424,583 $ 327,654 Losses generated in the United States on or after January 1, 2018 may be carried forward indefinitely against future taxable income. Tax losses generated before December 31, 2017 may be carried forward for a 20 year period. As at December 31, 2020 the Company had $292 million (2019 - $ 323 million) of deductible temporary differences in the United States that have not been recognized. (ii) Analysis of the change in deferred income tax assets and liabilities: 2020 2019 Net Deferred tax assets Deferred tax liabilities Net Deferred tax assets Deferred tax liabilities Balance, January 1 $ (161,206) $ 111,614 $ (272,820) $ (221,682) $ 59,532 $ (281,214) Adjustment on adoption of IFRS 16 — — — 4,529 533 3,996 Balance, January 1 (restated) (161,206) 111,614 (272,820) (217,153) 60,065 (277,218) Deferred income tax recovery included in net income 87,301 28,243 59,058 34,335 28,875 5,460 Deferred income tax recovery (expense) included in other comprehensive income (2,325) (2,333) 8 22,049 21,871 178 Other 362 — 362 (437) 803 (1,240) Balance, December 31 $ (75,868) $ 137,524 $ (213,392) $ (161,206) $ 111,614 $ (272,820)

Supplemental cash flow informat

Supplemental cash flow information	12 Months Ended
	Dec. 31, 2020
Cash Flow Statement [Abstract]
Supplemental cash flow information	Supplemental cash flow information: a) Changes in non-cash working capital: Changes in non-cash working capital for the years ended December 31, 2020 and 2019 are as follows: For the years ended December 31 2020 2019 Changes in non-cash working capital: Trade and other receivables $ 76,721 $ 25,847 Inventories (27,644) 106,907 Prepaid expenses 4,059 (5,264) Trade, other payables and accrued liabilities, including long-term payables included in other long-term liabilities 107,199 (123,660) 160,335 3,830 Adjustments for items not having a cash effect and working capital changes relating to taxes and interest paid (43,259) 17,107 Changes in non-cash working capital $ 117,076 $ 20,937 These changes relate to the following activities: Operating $ 64,923 $ 9,426 Investing 52,153 11,511 Changes in non-cash working capital $ 117,076 $ 20,937 b) Reconciliation of movements in liabilities to cash flows arising from financing activities: Long term debt (note 8) Lease obligations (note 9) Balance at December 31, 2019 $ 1,768,853 $ 718,505 Changes from financing cash flows Repayment of long-term debt and financing fees (289,698) — Net proceeds on issue of long-term debt 865,415 — Draw on revolving credit facility 300,000 — Repayment of revolving credit facility (300,000) — Payment of lease obligations — (106,834) Proceeds from other limited recourse debt 12,839 Total changes from financing cash flows 588,556 (106,834) Liability-related other changes Finance costs 2,562 — New lease obligations — 108,763 Other 3,401 1,800 Total liability-related other changes 5,963 110,563 Balance at December 31, 2020 $ 2,363,372 $ 722,234

Capital disclosures

Capital disclosures	12 Months Ended
	Dec. 31, 2020
Corporate Information And Statement Of IFRS Compliance [Abstract]
Capital disclosures	Capital disclosures: The Company’s objective in managing liquidity and capital is to safeguard the Company’s ability to continue as a going concern and to provide financial capacity and flexibility to meet its strategic objectives, with a focus on cash preservation and liquidity. As at Dec 31 Dec 31 Liquidity: Cash and cash equivalents $ 833,841 $ 416,763 Undrawn credit facilities 300,000 300,000 Undrawn G3 construction facilities 627,000 800,000 Total liquidity $ 1,760,841 $ 1,516,763 Capitalization: G3 construction facility $ 176,335 $ — Unsecured notes, including current portion 1,979,125 1,535,662 Egypt limited recourse debt facilities, including current portion 46,948 75,165 Other limited recourse debt facilities, including current portion 160,964 158,026 Total debt 2,363,372 1,768,853 Non-controlling interests 292,357 298,675 Shareholders’ equity 1,149,100 1,331,685 Total capitalization $ 3,804,829 $ 3,399,213 Total debt to capitalization 1 62% 52% Net debt to capitalization 2 51% 45% 1 Total debt (including 100% of Egypt and Other limited recourse debt facilities) divided by total capitalization. 2 Total debt (including 100% of Egypt and Other limited recourse debt facilities) less cash and cash equivalents divided by total capitalization less cash and cash equivalents. The Company manages its liquidity and capital structure and makes adjustments to it in light of changes to economic conditions, the underlying risks inherent in its operations and capital requirements to maintain and grow its operations. The strategies employed by the Company may include the issue or repayment of general corporate debt, the issue of project debt, private placements by limited recourse subsidiaries, the issue of equity, the payment of dividends and the repurchase of shares. The Company is not subject to any statutory capital requirements and has no commitments to sell or otherwise issue common shares except pursuant to outstanding employee stock options.

Financial instruments

Financial instruments	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Financial instruments	Financial instruments: Financial instruments are either measured at amortized cost or fair value. In the normal course of business, the Company's assets, liabilities and forecasted transactions, as reported in U.S. dollars, are impacted by various market risks including, but not limited to, natural gas prices and currency exchange rates. The time frame and manner in which the Company manages those risks varies for each item based on the Company's assessment of the risk and the available alternatives for mitigating risks. The Company uses derivatives as part of its risk management program to mitigate variability associated with changing market values. Changes in fair value of derivative financial instruments are recorded in earnings unless the instruments are designated as cash flow hedges, in which case the changes in fair value are recorded in other comprehensive income and are reclassified to profit or loss when the underlying hedged transaction is recognized in earnings. The Company designates as cash flow hedges certain derivative financial instruments to hedge its risk exposure to fluctuations in natural gas prices and to hedge its risk exposure to fluctuations on certain foreign currency denominated transactions. The following table provides the carrying value of each category of financial assets and liabilities and the related balance sheet item: As at Dec 31 Dec 31 Financial assets: Financial assets measured at fair value: Derivative instruments designated as cash flow hedges 1 $ 3,371 $ 10 Financial assets not measured at fair value: Cash and cash equivalents 833,841 416,763 Trade and other receivables, excluding tax receivable 406,392 473,980 Restricted cash included in other assets 41,979 39,413 Total financial assets 2 $ 1,285,583 $ 930,166 Financial liabilities: Financial liabilities measured at fair value: Derivative instruments designated as cash flow hedges 1 $ 181,372 $ 195,504 Financial liabilities not measured at fair value: Trade, other payables and accrued liabilities, excluding tax payable 500,056 406,260 Long-term debt, including current portion 2,363,372 1,768,853 Total financial liabilities $ 3,044,800 $ 2,370,617 1 The Geismar and Medicine Hat natural gas hedges and euro foreign currency hedges designated as cash flow hedges are measured at fair value based on industry accepted valuation models and inputs obtained from active markets. 2 The carrying amount of the financial assets represents the maximum exposure to credit risk at the respective reporting periods. As at December 31, 2020, all of the financial instruments were recorded on the consolidated statements of financial position at amortized cost with the exception of derivative financial instruments, which were recorded at fair value unless exempted. The fair value of derivative instruments is determined based on industry-accepted valuation models using market observable inputs and are classified within Level 2 of the fair value hierarchy. The fair value of all of the Company's derivative contracts as presented in the consolidated statements of financial position are determined based on present values and the discount rates used are adjusted for credit risk. The effective portion of the changes in fair value of derivative financial instruments designated as cash flow hedges is recorded in other comprehensive income. The spot element of forward contracts in the hedging relationships is recorded in other comprehensive income as the change in fair value of cash flow hedges. The change in the fair value of the forward element of forward contracts is recorded separately in other comprehensive income as the forward element excluded from the hedging relationships. Once a commodity hedge settles, the amount realized during the period and not recognized immediately in the statement of income is reclassified from accumulated other comprehensive income (equity) to inventory and ultimately through cost of goods sold. Settled foreign currency hedges, are realized during the period directly to the statement of income reclassified from the statement of other comprehensive income. Until settled, the fair value of the derivative financial instruments will fluctuate based on changes in commodity prices or foreign currency exchange rates. Natural gas forward contracts The Company has elected to manage its exposure to changes in natural gas prices for a portion of its North American natural gas requirements by executing a number of fixed price forward contracts: both financial and physical. The Company has entered into forward contracts to manage its exposure to changes in natural gas prices for the Geismar site including (i) 40,000 mmbtu per day over the remaining term of 2021-2025, (ii) 50,000 mmbtu per day for 2023 to 2032, and (iii) 30,000 mmbtu per day from 2027-2029, which have been designated as cash flow hedges. Natural gas is fungible across the Geismar site. The Company has also entered into physical forward contracts to manage its exposure to changes in natural gas prices for the Medicine Hat facility. The Company has designated contracts for the 2021 and 2022 periods as cash flow hedges. Other costs incurred to transport natural gas from the contracted delivery point, either Henry Hub or AECO, to the relevant production facility represent an insignificant portion of the overall underlying risk and are recognized as incurred outside of the hedging relationship. No hedge ineffectiveness has been recognized in 2020. For the year ended December 31, 2020, the Company reclassified $20.3 million of natural gas hedge settlements from accumulated other comprehensive income. As at December 31, 2020, the Company had outstanding forward contracts designated as cash flow hedges with a notional amount of $1,005.6 million (2019 - $969.6 million) and a net negative fair value of $177.4 million (2019 - negative fair value of $195.1 million), of which $14.8 million is included in other current liabilities, $166.0 million is included in other long term liabilities, $0.4 million is included in other current assets, and $3.0 million is included in other non-current assets. As at December 31, 2020, the forward contracts for the Geismar facility had a weighted average contract price of $3.36 per mmbtu (2019 - $3.45 per mmbtu). The forward contracts for the Medicine Hat facility had an average contract price of $1.96 per mmbtu (2019 - $1.96 per mmbtu). Forward exchange contracts The Company also designates as cash flow hedges forward exchange contracts to sell certain foreign currencies at a fixed U.S. dollar exchange rate to hedge its exposure to exchange rate fluctuations on certain foreign currency denominated transactions. The Company has elected to designate the spot element of the forward contracts as cash flow hedges. The forward element of the forward contracts are excluded from the designation and only the spot element is considered for the purpose of assessing effectiveness and measuring ineffectiveness. The excluded forward element of the swap contracts will be accounted for as a cost of hedging (transaction cost) to be recognized in profit or loss over the term of the hedging relationships. Ineffectiveness may arise in the hedging relationship due to changes in the timing of the anticipated transactions and/or due to changes in credit risk of the hedging instrument not replicated in the hedged item. No hedge ineffectiveness has been recognized in 2020. As at December 31, 2020, the Company had outstanding forward exchange contracts designated as cash flow hedges to sell euros at a fixed U.S. dollar exchange rate with a notional amount of 12.2 million euros (2019 - 18.4 million euros) and a negative fair value of $0.6 million included in current liabilities (2019 - negative fair value of $0.4 million included in current liabilities). Fair value liabilities The table below shows the nominal net cash outflows for derivative hedging instruments including natural gas forward contracts and forward exchange contracts, excluding credit risk adjustments, based upon contracted settlement dates. The amounts reflect the maturity profile of the hedging instruments and are subject to change based on the prevailing market rate at each of the future settlement dates. Financial asset derivative positions, if any, are held with investment-grade counterparties and therefore the settlement day risk exposure is considered to be negligible. As at Dec 31 Dec 31 Within one year $ 15,047 $ 17,620 1-3 years 44,841 45,432 3-5 years 63,002 56,887 More than 5 years 91,732 124,365 $ 214,622 $ 244,304 The fair value of the Company’s derivative financial instruments as disclosed above are determined based on Bloomberg quoted market prices and confirmations received from counterparties, which are adjusted for credit risk. The Company is exposed to credit-related losses in the event of non-performance by counterparties to derivative financial instruments but does not expect any counterparties to fail to meet their obligations. The Company deals with only highly rated counterparties, normally major financial institutions. The Company is exposed to credit risk when there is a positive fair value of derivative financial instruments at a reporting date. The maximum amount that would be at risk if the counterparties to derivative financial instruments with positive fair values failed completely to perform under the contracts was $3.4 million as at December 31, 2020 (2019 - nil). The carrying values of the Company’s financial instruments approximate their fair values, except as follows: As at December 31, 2020 December 31, 2019 Carrying value Fair value Carrying value Fair value Long-term debt excluding deferred financing fees $ 2,382,699 $ 2,559,771 $ 1,786,025 $ 1,831,292

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Financial risk management	Financial risk management: a) Market risks: The Company’s operations consist of the production and sale of methanol. Market fluctuations may result in significant cash flow and profit volatility risk for the Company. Its worldwide operating business as well as its investment and financing activities are affected by changes in methanol and natural gas prices and interest and foreign exchange rates. The Company seeks to manage and control these risks primarily through its regular operating and financing activities and uses derivative instruments to hedge these risks when deemed appropriate. This is not an exhaustive list of all risks, nor will the risk management strategies eliminate these risks. Methanol price risk The methanol industry is a highly competitive commodity industry and methanol prices fluctuate based on supply and demand fundamentals and other factors. The profitability of the Company is directly related to the market price of methanol. A decline in the market price of methanol could negatively impact the Company's future operations. The Company does not hedge its methanol sales through derivative contracts. The Company manages its methanol price risk, to a certain degree, through natural gas supply contracts that include a variable price component linked to methanol prices, as described below. Natural gas price risk Natural gas is the primary feedstock for the production of methanol. The Company has entered into multi-year natural gas supply contracts for its production facilities in New Zealand, Trinidad, Egypt and certain contracts in Chile that include base and variable price components to reduce the commodity price risk exposure. The variable price component is adjusted by formulas related to methanol prices above a certain level. The Company also has multi-year fixed price natural gas contracts to supply its production facilities in Geismar, Medicine Hat and Chile and natural gas hedges in Geismar and Medicine Hat to manage its exposure to natural gas price risk. Interest rate risk Interest rate risk is the risk that the Company suffers financial loss due to changes in the value of an asset or liability or in the value of future cash flows due to movements in interest rates. The Company’s interest rate risk exposure is mainly related to long-term debt obligations. As at Dec 31 Dec 31 Fixed interest rate debt: Unsecured notes $ 1,979,125 $ 1,535,662 Other limited recourse debt facilities 160,964 156,500 $ 2,140,089 $ 1,692,162 Variable interest rate debt: Geismar 3 construction facility $ 176,335 $ — Egypt limited recourse debt facilities 46,948 75,165 Other limited recourse debt facilities — 1,526 $ 223,283 $ 76,691 For fixed interest rate debt, a 1% change in interest rates would result in a change in the fair value of the debt (disclosed in note 19) of approximately $185.2 million as of December 31, 2020 (2019 - $130.6 million). The fair value of variable interest rate debt fluctuates primarily with changes in credit spreads. For the variable interest rate debt, a 1% change in LIBOR would result in a change in annual interest payments of $2.2 million as of December 31, 2020 (2019 - $0.8 million). Foreign currency risk The Company’s international operations expose the Company to foreign currency exchange risks in the ordinary course of business. Accordingly, the Company has established a policy that provides a framework for foreign currency management and hedging strategies and defines the approved hedging instruments. The Company reviews all significant exposures to foreign currencies arising from operating and investing activities and hedges exposures if deemed appropriate. The dominant currency in which the Company conducts business is the United States dollar, which is also the reporting currency. Methanol is a global commodity chemical that is priced in United States dollars. In certain jurisdictions, however, the transaction price is set either quarterly or monthly in the local currency. Accordingly, a portion of the Company’s revenue is transacted in Canadian dollars, euros, Chinese yuan and, to a lesser extent, other currencies. For the period from when the price is set in local currency to when the amount due is collected, the Company is exposed to declines in the value of these currencies compared to the United States dollar. The Company also purchases varying quantities of methanol for which the transaction currency is the euro, Chinese yuan and, to a lesser extent, other currencies. In addition, some of the Company’s underlying operating costs and capital expenditures are incurred in other currencies. The Company is exposed to increases in the value of these currencies that could have the effect of increasing the United States dollar equivalent of cost of sales and operating expenses and capital expenditures. The Company has elected not to actively manage these exposures at this time except for a portion of the net exposure to euro revenues, which is hedged through forward exchange contracts each quarter when the euro price for methanol is established. As at December 31, 2020, the Company had a net working capital asset of $123.9 million in non U.S. dollar currencies (2019 - $74.2 million). Each 10% strengthening (weakening) of the U.S. dollar against these currencies would decrease (increase) the value of net working capital and pre-tax cash flows and earnings by approximately $12.4 million (2019 - $7.4 million). b) Liquidity risks: Liquidity risk is the risk that the Company will not have sufficient funds to meet its liabilities, such as the settlement of financial debt and lease obligations and payment to its suppliers. The Company maintains liquidity and makes adjustments to it in light of changes to economic conditions, underlying risks inherent in its operations and capital requirements to maintain and grow its operations. As at December 31, 2020, the Company had $834 million of cash and cash equivalents. In addition, the Company has an undrawn credit facility of $300 million provided by a syndicate of highly rated financial institutions that expires in July 2024. The Company has drawn $173 million of its $800 million construction credit facility for the Geismar 3 project that expires in July 2024. In addition to the above-mentioned sources of liquidity, the Company monitors funding options available in the capital markets, as well as trends in the availability and costs of such funding, with a view to maintaining financial flexibility and limiting refinancing risks. The expected cash flows of financial liabilities from the date of the balance sheet to the contractual maturity date are as follows: As at December 31, 2020 Carrying amount Contractual cash flows 1 year or less 1-3 years 3-5 years More than 5 years Trade and other payables 1 $ 485,545 $ 485,545 $ 485,545 $ — $ — $ — Lease obligations 2 722,234 982,387 142,096 228,493 192,342 419,456 Long-term debt 2 2,363,372 3,509,538 158,063 274,599 708,577 2,368,299 Cash flow hedges 3 181,372 214,622 15,047 44,841 63,002 91,732 $ 3,752,523 $ 5,192,092 $ 800,751 $ 547,933 $ 963,921 $ 2,879,487 1 Excludes tax and accrued interest. 2 Contractual cash flows include contractual interest payments related to debt obligations and lease obligations. Interest rates on variable rate debt are based on prevailing rates as at December 31, 2020. 3 Cash flow hedges includes the impact of discounting and credit valuation adjustments c) Credit risks: Counterparty credit risk is the risk that the financial benefits of contracts with a specific counterparty will be lost if a counterparty defaults on its obligations under the contract. This includes any cash amounts owed to the Company by those counterparties, less any amounts owed to the counterparty by the Company where a legal right of offset exists and also includes the fair values of contracts with individual counterparties that are recorded in the financial statements. Trade credit risk Trade credit risk is defined as an unexpected loss in cash and earnings if the customer is unable to pay its obligations in due time or if the value of the security provided declines. The Company has implemented a credit policy that includes approvals for new customers, annual credit evaluations of all customers and specific approval for any exposures beyond approved limits. The Company employs a variety of risk-mitigation alternatives, including credit insurance, certain contractual rights in the event of deterioration in customer credit quality and various forms of bank and parent company guarantees and letters of credit to upgrade the credit risk to a credit rating equivalent or better than the stand-alone rating of the counterparty. Trade credit losses have historically been minimal and as at December 31, 2020 substantially all of the trade receivables were classified as current. Cash and cash equivalents To manage credit and liquidity risk, the Company’s investment policy specifies eligible types of investments, maximum counterparty exposure and minimum credit ratings. Therefore, the Company invests only in highly rated investment-grade instruments that have maturities of three months or less. Derivative financial instruments The Company’s hedging policies specify risk management objectives and strategies for undertaking hedge transactions. The policies also include eligible types of derivatives and required transaction approvals, as well as maximum counterparty exposures and minimum credit ratings. The Company does not use derivative financial instruments for trading or speculative purposes. To manage credit risk, the Company only enters into derivative financial instruments with highly rated investment-grade counterparties. Hedge transactions are reviewed, approved and appropriately documented in accordance with Company policies.

Retirement plans

Retirement plans	12 Months Ended
	Dec. 31, 2020
Employee Benefits [Abstract]
Retirement plans	Retirement plans: a) Defined benefit pension plans: The Company has non-contributory defined benefit pension plans covering certain employees. The Company does not provide any significant post-retirement benefits other than pension plan benefits. Information concerning the Company’s defined benefit pension plans, in aggregate, is as follows: As at Dec 31 Dec 31 Accrued benefit obligations: Balance, beginning of year $ 66,061 $ 60,618 Current service cost 3,016 2,639 Interest cost on accrued benefit obligations 1,794 2,196 Benefit payments (2,227) (7,092) Actuarial loss 7,120 8,041 Foreign exchange (gain) loss 3,046 (341) Balance, end of year 78,810 66,061 Fair values of plan assets: Balance, beginning of year 43,891 40,955 Interest income on assets 1,260 1,396 Contributions 1,182 4,056 Benefit payments (2,227) (7,092) Return on plan assets 1,940 2,500 Foreign exchange gain 912 2,076 Balance, end of year 46,958 43,891 Unfunded status 31,852 22,170 Minimum funding requirement — — Defined benefit obligation, net $ 31,852 $ 22,170 The net defined benefit obligation above is comprised of unfunded retirement obligations and funded retirement net assets from defined benefit pension plans, as follows: The Company has an unfunded retirement obligation of $35.3 million as at December 31, 2020 (2019 - $28.1 million) for its employees in Chile that will be funded at retirement in accordance with Chilean law. The accrued benefit for the unfunded retirement arrangement in Chile is paid when an employee leaves the Company in accordance with plan terms and Chilean regulations. The Company estimates that it may make benefit payments based on actuarial assumptions related to the unfunded retirement obligation in Chile of $9.5 million in 2021. Actual benefit payments in future periods will fluctuate based on employee retirements. The Company has a net funded retirement asset of $4.8 million as at December 31, 2020 (2019 - $5.7 million) for certain employees and retirees in Canada and a net funded retirement obligation of $1.4 million as at December 31, 2020 (2019 - asset of $0.2 million) in Europe. The Company estimates that it will make no additional contributions relating to its defined benefit pension plan in Canada that it will make additional contributions relating to its defined benefit pension plan in Europe of $0.5 million in 2021. These defined benefit plans expose the Company to actuarial risks, such as longevity risk, currency risk, interest rate risk and market risk on the funded plans. Additionally, as the plans provide benefits to plan members predominantly in Canada and Chile, the plans expose the Company to foreign currency risk for funding requirements. The primary long-term risk is that the Company will not have sufficient plan assets and liquidity to meet obligations when they fall due. The weighted average duration of the net defined benefit obligation is 8 years. The Company’s net defined benefit pension plan expense charged to the consolidated statements of income (loss) for the years ended December 31, 2020 and 2019 is as follows: For the years ended December 31 2020 2019 Net defined benefit pension plan expense: Current service cost $ 3,016 $ 2,639 Net interest cost 534 800 Total net defined benefit pension plan expense $ 3,550 $ 3,439 The Company’s current year actuarial losses, recognized in the consolidated statements of comprehensive income (loss) for the years ended December 31, 2020 and 2019, are as follows: For the years ended December 31 2020 2019 Actuarial loss $ (5,413) $ (4,479) The Company had no minimum funding requirement for the years ended December 31, 2020 and 2019. The Company uses a December 31 measurement date for its defined benefit pension plans. Actuarial reports for the Company’s defined benefit pension plans were prepared by independent actuaries for funding purposes as of December 31, 2019 in Canada. The next actuarial reports for funding purposes for the Company’s Canadian defined benefit pension plans are scheduled to be completed as of December 31, 2022. The discount rate is the most significant actuarial assumption used in accounting for the defined benefit pension plans. As at December 31, 2020, the weighted average discount rate for the defined benefit obligation was 2.3% (2019 - 3.0%). A decrease of 1% in the weighted average discount rate at the end of the reporting period, while holding all other assumptions constant, would result in an increase to the defined benefit obligation of approximately $6.9 million. The asset allocation for the defined benefit pension plan assets as at December 31, 2020 and 2019 is as follows: As at Dec 31 Dec 31 Equity securities 18% 18% Debt securities 57% 57% Cash and other short-term securities 25% 25% Total 100% 100% The fair values of the above equity and debt instruments are determined based on quoted market prices in active markets whereas the fair values of cash and other short-term securities are not based on quoted market prices in active markets. The plan assets are held separately from those of the Company in funds under the control of trustees. b) Defined contribution pension plans:

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies [Abstract]
Commitments and contingencies	Commitments and contingencies: a) Take-or-pay purchase contracts and related commitments: The Company has commitments under take-or-pay contracts to purchase natural gas, to pay for transportation capacity related to the delivery of natural gas and to purchase oxygen and other feedstock requirements for our operating plants and Geismar 3 project up to 2042. The minimum estimated commitment under these contracts, except as noted below, is as follows: As at December 31, 2020 2021 2022 2023 2024 2025 Thereafter $ 397,515 $ 397,346 $ 431,060 $ 447,165 $ 447,017 $ 1,560,734 In the above table, the Company has included natural gas commitments at the contractual volume and prices. b) Other commitments: The Company has future minimum payments relating primarily to short-term vessel charters, terminal facilities, and other commitments that are not leases, as follows: As at December 31, 2020 2021 2022 2023 2024 2025 Thereafter $ 64,768 $ 3,304 $ 539 $ 539 $ 539 $ 2,571 c) Purchased methanol:

Related parties

Related parties	12 Months Ended
	Dec. 31, 2020
Related Party [Abstract]
Related parties	Related parties: The Company has interests in significant subsidiaries and joint ventures as follows: Name Country of incorporation Principal activities Interest % Dec 31 Dec 31 Significant subsidiaries: Methanex Asia Pacific Limited Hong Kong Marketing & distribution 100% 100% Methanex Services (Shanghai) Co., Ltd. China Marketing & distribution 100% 100% Methanex Europe NV Belgium Marketing & distribution 100% 100% Methanex Methanol Company, LLC United States Marketing & distribution 100% 100% Egyptian Methanex Methanol Company S.A.E. ("Methanex Egypt") Egypt Production 50% 50% Methanex Chile SpA Chile Production 100% 100% Methanex New Zealand Limited New Zealand Production 100% 100% Methanex Trinidad (Titan) Unlimited Trinidad Production 100% 100% Methanex USA LLC United States Production 100% 100% Methanex Louisiana LLC United States Production 100% 100% Waterfront Shipping Company Limited 1 Cayman Islands Shipping 100% 100% Significant joint ventures: Atlas Methanol Company Unlimited 2 Trinidad Production 63.1% 63.1% 1 Waterfront Shipping Company Limited has a controlling interest in multiple ocean going vessels owned through less than wholly-owned entities as disclosed in note 24. 2 Summarized financial information for the group's investment in Atlas is disclosed in note 6. Transactions between the Company and Atlas are considered related party transactions and are included within the summarized financial information in note 6. Atlas revenue for the year ended December 31, 2020 of $251 million (2019 - $359 million) is a related party transaction included in cost of sales of the Company as Methanex has marketing rights for 100% of the methanol produced by Atlas. Balances outstanding with Atlas as at December 31, 2020 and provided in the summarized financial information in note 6 include receivables owing from Atlas to the Company of $16 million (2019 - $17 million), and payables to Atlas of $70 million (2019 - $69 million). The Company has total loans outstanding to Atlas as at December 31, 2020 of $76 million (2019 - $76 million) which are unsecured and due at maturity. Remuneration received by non-management directors and senior management, which includes the members of the executive leadership team, is as follows: For the years ended December 31 2020 2019 Short-term employee benefits $ 6,272 $ 9,097 Post-employment benefits 944 767 Other long-term employee benefits 50 50 Share-based compensation expense 1 26,481 127 Total $ 33,747 $ 10,041 1 Balance includes realized and unrealized gains from share-based compensation awards granted.

Non-controlling interests

Non-controlling interests	12 Months Ended
	Dec. 31, 2020
Interest In Other Entities [Abstract]
Non-controlling interests	Non-controlling interests: Set out below is summarized financial information for each of our subsidiaries that have non-controlling interests. The amounts disclosed are before inter-company eliminations. As at Dec 31, 2020 Dec 31, 2019 Methanex Vessels 1 Total Methanex Vessels 1 Total Current assets $ 155,339 $ 10,628 $ 165,967 $ 158,436 $ 25,471 $ 183,907 Non-current assets 618,797 197,223 816,020 653,495 182,248 835,743 Current liabilities (87,907) (18,960) (106,867) (74,498) (22,326) (96,824) Non-current liabilities (127,144) (174,309) (301,453) (156,058) (153,842) (309,900) Net assets 559,085 14,582 573,667 581,375 31,551 612,926 Carrying amount of Methanex non-controlling interests $ 272,449 $ 19,908 $ 292,357 $ 278,780 $ 19,895 $ 298,675 For the years ended December 31 2020 2019 Methanex Vessels 1 Total Methanex Vessels 1 Total Revenue $ 192,575 $ 40,118 $ 232,693 $ 171,532 $ 36,500 $ 208,032 Net and total comprehensive income 18,566 9,474 28,040 4,182 7,834 12,016 Net and total comprehensive income attributable to Methanex non-controlling interests 26,578 4,773 31,351 24,697 3,902 28,599 Equity contributions by non-controlling interests $ — $ 5,500 $ 5,500 $ — $ — $ — Acquisition of non-controlling interests — (6,714) (6,714) — (2,219) (2,219) Impact of adoption of IFRS 16 — — — (3,355) — (3,355) Distributions paid and accrued to non-controlling interests $ (32,909) $ (3,546) $ (36,455) $ (17,865) $ (3,113) $ (20,978) For the years ended December 31 2020 2019 Methanex Vessels 1 Total Methanex Vessels 1 Total Cash flows from (used in) operating activities $ 145,672 $ 24,951 $ 170,623 $ 68,022 $ 24,267 $ 92,289 Cash flows from (used in) financing activities (96,052) (17,344) (113,396) (74,675) (21,606) (96,281) Cash flows from (used in) investing activities $ (5,309) $ (7,788) $ (13,097) $ (8,859) $ (3,723) $ (12,582)

Significant accounting polici_2

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Corporate Information And Statement Of IFRS Compliance [Abstract]
Basis of presentation and consolidation	Basis of presentation and consolidation: These consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, less than wholly-owned entities for which it has a controlling interest and its equity-accounted joint venture. Wholly-owned subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. For less than wholly-owned entities for which the Company has a controlling interest, a non-controlling interest is included in the Company’s consolidated financial statements and represents the non-controlling shareholders’ interest in the net assets of the entity. All significant intercompany transactions and balances have been eliminated.
Use of estimates	Preparation of these consolidated financial statements requires estimates, judgments and assumptions that affect the amounts reported and disclosed in the financial statements and related notes. The areas of estimation and judgment that management considers most significant are property, plant and equipment (note 2(g)), financial instruments (note 2(o)), fair value measurements (note 2(p)), leases (note 2(i)), and income taxes (note 2(q)). Actual results could differ from those estimates.
Reporting currency	Reporting currency and foreign currency translation: Functional currency is the currency of the primary economic environment in which an entity operates. The majority of the Company’s business in all jurisdictions is transacted in United States dollars and, accordingly, these consolidated financial statements have been measured and expressed in that currency. The Company translates foreign currency denominated monetary items at the period-end exchange rates, foreign currency denominated non-monetary items at historic rates and revenues and expenditures at the exchange rates at the dates of the transactions. Foreign exchange gains and losses are included in earnings.
Foreign currency translation	Reporting currency and foreign currency translation: Functional currency is the currency of the primary economic environment in which an entity operates. The majority of the Company’s business in all jurisdictions is transacted in United States dollars and, accordingly, these consolidated financial statements have been measured and expressed in that currency. The Company translates foreign currency denominated monetary items at the period-end exchange rates, foreign currency denominated non-monetary items at historic rates and revenues and expenditures at the exchange rates at the dates of the transactions. Foreign exchange gains and losses are included in earnings.
Cash and cash equivalents	Cash and cash equivalents: Cash and cash equivalents include securities with maturities of three months or less when purchased.
Receivables	Receivables: The Company provides credit to its customers in the normal course of business. The Company performs ongoing credit evaluations of its customers and records provisions for expected credit losses for receivables measured at amortized cost. The Company records an allowance for doubtful accounts or writes down the receivable to estimated net realizable value, if not collectible in full, based on expected credit losses. Expected credit losses are based on historic and forward looking customer specific factors including historic credit losses incurred.
Inventories	Inventories: Inventories are valued at the lower of cost and estimated net realizable value. Cost is determined on a first-in, first-out basis and includes direct purchase costs, cost of production, allocation of production overhead and depreciation based on normal operating capacity and transportation.
Property, plant and equipment	Property, plant and equipment: Initial recognition Property, plant and equipment are initially recorded at cost. The cost of purchased equipment includes expenditures that are directly attributable to the purchase price, delivery and installation. The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to the location and condition for their intended use, the costs of dismantling and removing the items and restoring the site on which they are located, and borrowing costs on self-constructed assets that meet certain criteria. Borrowing costs incurred during construction and commissioning are capitalized until the plant is operating in the manner intended by management. Subsequent costs Routine repairs and maintenance costs are expensed as incurred. At regular intervals, the Company conducts a planned shutdown and inspection (turnaround) at its plants to perform major maintenance and replacement of catalysts. Costs associated with these shutdowns are capitalized and amortized over the period until the next planned turnaround and the carrying amounts of replaced components are derecognized and included in earnings. Depreciation Depreciation and amortization is generally provided on a straight-line basis at rates calculated to amortize the cost of property, plant and equipment from the commencement of commercial operations over their estimated useful lives to estimated residual value. The estimated useful lives of the Company’s buildings, plant installations and machinery at installation, excluding costs related to turnarounds, initially ranges from 10 to 25 years depending on the specific asset component and the production facility to which it is related. The Company determines the estimated useful lives of individual asset components based on the shorter of its physical life or economic life. The physical life of these assets is generally longer than the economic life. The economic life is primarily determined by the nature of the natural gas feedstock available to the various production facilities. The estimated useful life of production facilities may be adjusted from time-to-time based on turnarounds, plant refurbishments and gas availability. Factors that influence the nature of natural gas feedstock availability include the terms of individual natural gas supply contracts, access to natural gas supply through open markets, regional factors influencing the exploration and development of natural gas and the expected price of securing natural gas supply. The Company reviews the factors related to each production facility on an annual basis to determine if changes are required to the estimated useful lives. Recoverability of Asset Carrying Values Long-lived assets are tested for recoverability whenever events or changes in circumstances, either internal or external, indicate that the carrying amount may not be recoverable (“triggering events”). Examples of such triggering events related to our long-lived assets may include, but are not restricted to: a significant adverse change in the extent or manner in which the asset is being used or in its physical condition; a change in management’s intention or strategy for the asset, which includes a plan to dispose of the asset or idle the asset for a significant period of time; a significant adverse change in our long-term methanol price assumption or in the price or availability of natural gas feedstock required to manufacture methanol; a significant adverse change in legal factors or in the business climate that could affect the asset’s value, including an adverse action or assessment by a foreign government that impacts the use of the asset; or a current period operating or cash flow loss combined with a history of operating or cash flow losses, or a projection or forecast that demonstrates continuing losses associated with the asset’s use. When a triggering event is identified, recoverability of long-lived assets is measured by comparing the carrying value of an asset or cash-generating unit to the estimated recoverable amount, which is the higher of its estimated fair value less costs to sell or its value in use. Fair value less costs of disposal is determined by estimating the price that would be received to sell an asset in an orderly transaction between market participants under current market conditions, less incremental costs directly attributable to the disposal, excluding finance costs and income tax expense. Value in use is determined by measuring the pre-tax cash flows expected to be generated from the cash-generating unit over its estimated useful life discounted by a pre-tax discount rate. An impairment writedown is recorded if the carrying value exceeds the estimated recoverable amount. An impairment writedown recognized in prior periods for an asset or cash-generating unit is reversed if there has been a subsequent recovery in the value of the asset or cash-generating unit due to changes in events and circumstances. For the purposes of recognition and measurement of an impairment writedown or reversal, we group our long-lived assets with other assets and liabilities to form a “cash-generating unit” at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. To the extent that our methanol facilities in a particular location are interdependent as a result of common infrastructure and/or feedstock from shared sources that can be shared within a facility location, we group our assets based on site locations for the purpose of determining impairment. There are two key variables that impact our estimate of future cash flows from producing assets: (1) the methanol price and (2) the price and availability of natural gas feedstock. Short-term methanol price estimates are based on current supply and demand fundamentals and current methanol prices. Long-term methanol price estimates are based on our view of long-term supply and demand, incorporating third-party assumptions, forecasts and market observable prices when appropriate. Consideration is given to many factors, including, but not limited to, estimates of global industrial production rates, energy prices, changes in general economic conditions, the ability for the industry to add further global methanol production capacity and earn an appropriate return on capital, industry operating rates and the global industry cost structure. Our estimate of the price and availability of natural gas takes into consideration the current contracted terms, as well as factors that we believe are relevant to supply under these contracts and supplemental natural gas sources. Other assumptions included in our estimate of future cash flows include the estimated cost incurred to maintain the facilities, estimates of transportation costs and other variable costs incurred in producing methanol in each period. Changes in these assumptions will impact our estimates of future cash flows and could impact our estimates of the useful lives of property, plant and equipment. Consequently, it is possible that our future operating results could be adversely affected by further asset impairment charges or by changes in depreciation and amortization rates related to property, plant and equipment. In relation to previous impairment charges, we do not believe that there are significant changes in events or circumstances that would support their reversal.
Other assets	Other assets: Intangible assets are capitalized to other assets and amortized to depreciation and amortization expense on an appropriate basis to charge the cost of the assets against earnings.
Financing fees	Financing fees related to undrawn credit facilities are capitalized to other assets and amortized to finance costs over the term of the credit facility.
Leases	Leases: At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: • the contract involves the use of an identified asset - this may be specified explicitly or implicitly and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive substitution right, then the asset is not identified; • the Company has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and • the Company has the right to direct the use of the asset. The Company has the right when it has the decision-making rights that are most relevant to changing how and for what purpose the asset is used. For contracts that contain a lease, the Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of property, plant and equipment. In addition, the right-of-use asset is assessed for impairment losses, should a trigger be identified and adjusted for impairment if required. Lease terms range up to 18 years for vessels, terminals, equipment, and other items. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Company’s estimate of the amount expected to be payable under a residual value guarantee or if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. The assessment is reviewed upon a trigger by an event or a significant change in circumstances. Certain leases contain non-lease components, excluded from the right-of-use asset and lease liability, related to operating charges for ocean vessels and terminal facilities. Judgment is applied in the determination of the stand-alone price of the lease and non-lease components. The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets, except for terminal and vessel leases. The Company recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.
Site restoration costs	Site restoration costs: The Company recognizes a liability to dismantle and remove assets or to restore a site upon which the assets are located. The Company estimates the present value of the expenditures required to settle the liability by determining the current market cost required to settle the site restoration costs, adjusts for inflation through to the expected date of the expenditures and then discounts this amount back to the date when the obligation was originally incurred. As the liability is initially recorded on a discounted basis, it is increased each period until the estimated date of settlement. The resulting expense is referred to as accretion expense and is included in finance costs. The Company reviews asset retirement obligations and adjusts the liability and corresponding asset as necessary to reflect changes in the estimated future cash flows, timing, inflation and discount rates underlying the measurement of the obligation.
Employee future benefits	Employee future benefits: The Company has non-contributory defined benefit pension plans covering certain employees and defined contribution pension plans. The Company does not provide any significant post-retirement benefits other than pension plan benefits. For defined benefit pension plans, the net of the present value of the defined benefit obligation and the fair value of plan assets is recorded to the consolidated statements of financial position. The determination of the defined benefit obligation and associated pension cost is based on certain actuarial assumptions including inflation rates, mortality, plan expenses, salary growth and discount rates. The present value of the net defined benefit obligation (asset) is determined by discounting the net estimated future cash flows using current market bond yields that have terms to maturity approximating the terms of the net obligation. Actuarial gains and losses arising from differences between these assumptions and actual results are recognized in other comprehensive income and recorded in retained earnings. The Company recognizes gains and losses on the settlement of a defined benefit plan in income when the settlement occurs. The cost for defined contribution benefit plans is recognized in net income (loss) as earned by the employees.
Share-based compensation	Share-based compensation: The Company grants share-based awards as an element of compensation. Share-based awards granted by the Company can include stock options, tandem share appreciation rights, share appreciation rights, deferred share units, restricted share units or performance share units. For stock options granted by the Company, the cost of the service received is measured based on an estimate of the fair value at the date of grant. The grant-date fair value is recognized as compensation expense over the vesting period with a corresponding increase in contributed surplus. On the exercise of stock options, consideration received, together with the compensation expense previously recorded to contributed surplus, is credited to share capital. The Company uses the Black-Scholes option pricing model to estimate the fair value of each stock option tranche at the date of grant. Share appreciation rights ("SARs") are units that grant the holder the right to receive a cash payment upon exercise for the difference between the market price of the Company’s common shares and the exercise price that is determined at the date of grant. Tandem share appreciation rights ("TSARs") give the holder the choice between exercising a regular stock option or a SAR. For SARs and TSARs, the cost of the service received is initially measured based on an estimate of the fair value at the date of grant. The grant-date fair value is recognized as compensation expense over the vesting period with a corresponding increase in liabilities. For SARs and TSARs, the liability is re-measured at each reporting date based on an estimate of the fair value with changes in fair value recognized as compensation expense for the proportion of the service that has been rendered at that date. The Company uses the Black-Scholes option pricing model to estimate the fair value for SARs and TSARs. Deferred, restricted and performance share units are grants of notional common shares that are redeemable for cash based on the market value of the Company’s common shares and are non-dilutive to shareholders. Performance share units granted prior to 2019 have an additional feature where the ultimate number of units that vest will be determined by the Company’s total shareholder return in relation to a predetermined target over the period to vesting. The number of units that will ultimately vest will be in the range 25% to 150% based on the weighted-average closing share price for the 90 calendar days on the NASDAQ Global Select Market immediately preceding the year end date that the performance share units vest. Performance share units granted in 2019 onwards reflect a new long-term incentive plan. The performance share units granted under the new plan are redeemable for cash based on the market value of the Company's common shares and are non-dilutive to shareholders. They vest over three years and include two performance factors: (i) relative total shareholder return of Methanex shares versus a specific market index (the market performance factor) and (ii) three year average Return on Capital Employed ("ROCE") (the non-market performance factor). The market performance factor is measured by the Company at the grant date and reporting date using a Monte-Carlo simulation model to determine fair value. The non-market performance factor reflects management's best estimate of ROCE over the performance period (using actual ROCE as applicable) to determine the expected number of units to vest. Based on these performance factors the performance share unit payout will range between 0% to 200%. For deferred, restricted and performance share units, the cost of the service received as consideration is initially measured based on the market value of the Company’s common shares at the date of grant. The grant-date fair value is recognized as compensation expense over the vesting period with a corresponding increase in liabilities. Deferred, restricted and performance share units are re-measured at each reporting date based on the market value of the Company’s common shares with changes in fair value recognized as compensation expense for the proportion of the service that has been rendered at that date.
Net income (loss) per common per share	Net income (loss) per common share: The Company calculates basic net income (loss) per common share by dividing net income (loss) attributable to Methanex shareholders by the weighted average number of common shares outstanding and calculates diluted net income (loss) per common share under the treasury stock method. Under the treasury stock method, diluted net income (loss) per common share is calculated by considering the potential dilution that would occur if outstanding stock options and, under certain circumstances, TSARs were exercised or converted to common shares. Stock options and TSARs are considered dilutive when the average market price of the Company’s common shares during the period disclosed exceeds the exercise price of the stock option or TSAR. Outstanding TSARs may be settled in cash or common shares at the holder’s option. For the purposes of calculating diluted net income (loss) per common share, the more dilutive of the cash-settled or equity-settled method is used, regardless of how the plan is accounted for. Accordingly, TSARs that are accounted for using the cash-settled method will require adjustments to the numerator and denominator if the equity-settled method is determined to have a dilutive effect on diluted net income (loss) per common share.
Revenue recognition	Revenue recognition: Revenue is recognized based on individual contract terms at the point in time when control of the product transfers to the customer, which usually occurs at the time shipment is made. Revenue is recognized at the time of delivery to the customer’s location if the contractual performance obligation has not been met during shipment. For methanol sold on a consignment basis, revenue is recognized at the point in time the customer draws down the consigned methanol. Revenue is measured and recorded at the most likely amount of consideration the Company expects to receive.By contract, the Company sells all the methanol produced by the Atlas Joint Venture and earns a commission on the sale of the methanol. As the Company obtains title and control of the methanol from the Atlas facility and directs the sale of the methanol to the Company's customers, the Company recognizes the revenue on these sales to customers at the gross amount receivable from the customers based on the Company's revenue recognition policy noted above. Cost of sales is recognized for these sales as the amount due to the Atlas Joint Venture which is the gross amount receivable less the commission earned by the Company.
Financial instruments	Financial instruments: All financial instruments are measured at fair value on initial recognition. Measurement in subsequent periods is dependent on the classification of the respective financial instrument. Financial instruments are classified into one of three categories and, depending on the category, will either be measured at amortized cost or fair value with fair value changes either recorded through profit or loss or other comprehensive income. All non-derivative financial instruments held by the Company are classified and measured at amortized cost. The Company enters into derivative financial instruments to manage certain exposures to commodity price and foreign exchange volatility. Under these standards, derivative financial instruments, including embedded derivatives, are classified as fair value through profit or loss and are recorded in the consolidated statements of financial position at fair value unless they are in accordance with the Company’s normal purchase, sale or usage requirements. The valuation of derivative financial instruments is a critical accounting estimate due to the complex nature of these instruments, the degree of judgment required to appropriately value these instruments and the potential impact of such valuation on the Company’s financial statements. The Company records all changes in fair value of derivative financial instruments in profit or loss unless the instruments are designated as cash flow hedges. The Company enters into and designates as cash flow hedges certain forward contracts to hedge its highly probable forecast natural gas purchases and certain forward exchange purchase and sales contracts to hedge foreign exchange exposure on anticipated purchases or sales. The Company assesses at inception and on an ongoing basis whether the hedges are and continue to be effective in offsetting changes in the cash flows of the hedged transactions. The effective portion of changes in the fair value of these hedging instruments is recognized in other comprehensive income. Any gain or loss in fair value relating to the ineffective portion is recognized immediately in profit or loss. Until settled, the fair value of the derivative financial instruments will fluctuate based on changes in commodity prices, foreign currency exchange rates or variable interest rates. Assessment of contracts as derivative instruments, applicability of the own use exemption, determination of whether hybrid instruments contain embedded derivatives to be separated, the valuation of financial instruments and derivatives and hedge effectiveness assessments require a high degree of judgment and are considered critical accounting estimates due to the complex nature of these products and the potential impact on our financial statements.
Fair value measurements	Fair value measurements: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements within the scope of IFRS 13 are categorized into Level 1, 2 or 3 based on the degree to which the inputs are observable and the significance of the inputs to the fair value measurement in its entirety. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Financial instruments measured at fair value and categorized within the fair value hierarchy are disclosed in note 19.
Income taxes	Income taxes: Income tax expense represents current tax and deferred tax. The Company records current tax based on the taxable profits for the period calculated using tax rates that have been enacted or substantively enacted by the reporting date. Income taxes relating to uncertain tax positions are provided for based on the Company’s best estimate. Deferred income taxes are accounted for using the liability method. The liability method requires that income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities and their tax bases. Deferred income tax assets and liabilities are determined for each temporary difference based on currently enacted or substantially enacted tax rates that are expected to be in effect when the underlying items are expected to be realized. The effect of a change in tax rates or tax legislation is recognized in the period of substantive enactment. Deferred tax assets, such as non-capital loss carryforwards, are recognized to the extent it is probable that taxable profit will be available against which the asset can be utilized. The Company accrues for taxes that will be incurred upon distributions from its subsidiaries when it is probable that the earnings will be repatriated. Uncertain tax positions, including interest and penalties, are recognized and measured applying management estimates. Given the complexity, management engages third-party experts as required, for the interpretation of tax law, transfer pricing regulations and determination of the ultimate resolution of its tax positions. The Company is subject to various taxation authorities who may interpret tax legislation differently, and resolve matters over longer-periods of time. The differences in judgement in assessing uncertain tax positions may result in material differences in the final amount or timing of the payment of taxes or settlement of tax assessments.
Provisions	Provisions: Provisions are recognized where a legal or constructive obligation has been incurred as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation.
Segmented information	Segmented information: The Company’s operations consist of the production and sale of methanol, which constitutes a single operating segment.
Application of new and revised accounting standards and anticipated changes to International Financial Reporting Standards:	Application of new and revised accounting standards:We have adopted the amendments to IFRS 16, Leases regarding Covid-19 - Related Rent Concessions, which were effective retrospectively for annual periods beginning on or after January 1, 2020. The amendments did not have a material impact on the Company's consolidated financial statements.Anticipated changes to International Financial Reporting Standards: The Company does not expect that any new or amended standards or interpretations that are effective for annual periods beginning on or after January 1, 2021 will have a significant impact on the Company’s results of operations or financial position. The Company does not expect the implementation of amendments to IAS 16, Property, Plant, and Equipment, regarding the accounting for proceeds before intended use, effective for annual periods beginning on or after January 1, 2022 to have a significant impact on the Company's results of operations or financial position.

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Schedule of trade and other receivables	As at Dec 31 Dec 31 Trade 335,988 $ 343,959 Egypt insurance recovery(a) — 50,000 Value-added and other tax receivables 22,903 44,408 Other 53,109 50,354 $ 412,000 $ 488,721

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
Schedule of property, plant and equipment	Owned Assets Right-of-use assets Total Net book value at December 31, 2020 $ 3,052,060 $ 624,996 $ 3,677,056 Net book value at December 31, 2019 $ 2,940,777 $ 635,418 $ 3,576,195 Buildings, plant installations and machinery Plants under construction Ocean going vessels Other TOTAL Cost at January 1, 2020 $ 4,787,515 $ 155,871 $ 201,947 $ 154,468 $ 5,299,801 Additions 116,850 231,034 20,838 1,414 370,136 Disposals and other (42,453) — (12,686) — (55,139) Cost at December 31, 2020 4,861,912 386,905 210,099 155,882 5,614,798 Accumulated depreciation at January 1, 2020 2,215,060 — 25,448 118,516 2,359,024 Disposals and other (31,058) — (8,601) (29) (39,688) Depreciation 229,174 — 11,079 3,149 243,402 Accumulated depreciation at December 31, 2020 2,413,176 — 27,926 121,636 2,562,738 Net book value at December 31, 2020 $ 2,448,736 $ 386,905 $ 182,173 $ 34,246 $ 3,052,060 Buildings, plant installations and machinery Plants under construction Ocean going vessels Other TOTAL Cost at January 1, 2019 $ 4,698,142 $ — $ 183,419 $ 189,058 $ 5,070,619 Additions 150,570 118,249 57,479 4,338 330,636 Disposals and other (61,197) — (38,951) (1,306) (101,454) Transfers 1 — 37,622 — (37,622) — Cost at December 31, 2019 4,787,515 155,871 201,947 154,468 5,299,801 Accumulated depreciation at January 1, 2019 2,047,735 — 48,426 117,192 2,213,353 Disposals and other (63,169) — (31,620) (1,597) (96,386) Depreciation 230,494 — 8,642 2,921 242,057 Accumulated depreciation at December 31, 2019 2,215,060 — $ 25,448 118,516 2,359,024 Net book value at December 31, 2019 $ 2,572,455 $ 155,871 $ 176,499 $ 35,952 $ 2,940,777 1 During 2019, the Company reclassified $38 million of assets, including $19 million of land, relating to the construction of Geismar 3 from Other to Plants under construction.
Key assumptions for property, plant and equipment	The following table indicates the percentages by which key assumptions would need to change individually for the estimated Titan CGU recoverable value to be equal to the carrying value: Key Assumptions Change Required for Carrying Value to Equal Recoverable Value Long-term average realized price 3 percent decrease Production volumes 11 percent decrease Gas price 7 percent increase Discount rate (after-tax) 330 basis points increase
Right-of-use assets	Ocean going vessels Terminals and tanks Plant installations and machinery Other TOTAL Cost at January 1, 2020 $ 514,661 $ 221,303 $ 23,613 $ 38,520 $ 798,097 Additions 86,214 25,758 148 1,885 114,005 Disposals and other (18,803) (508) — (735) (20,046) Cost at December 31, 2020 582,072 246,553 23,761 39,670 892,056 Accumulated depreciation at January 1, 2020 89,643 59,240 7,867 5,929 162,679 Disposals and other (13,727) — — (299) (14,026) Depreciation 76,700 32,594 2,541 6,572 118,407 Accumulated depreciation at December 31, 2020 152,616 91,834 10,408 12,202 267,060 Net book value at December 31, 2020 $ 429,456 $ 154,719 $ 13,353 $ 27,468 $ 624,996 Ocean going vessels Terminals and tanks Plant installations and machinery Other TOTAL Cost at January 1, 2019 $ 370,654 $ 207,721 $ 19,705 $ 30,399 $ 628,479 Additions 144,764 13,582 3,908 9,738 171,992 Disposals and other (757) — — (1,617) (2,374) Cost at December 31, 2019 514,661 221,303 23,613 38,520 798,097 Accumulated depreciation at January 1, 2019 15,204 29,333 5,444 — 49,981 Disposals and other — — — — — Depreciation 74,439 29,907 2,423 5,929 112,698 Accumulated depreciation at December 31, 2019 89,643 59,240 7,867 5,929 162,679 Net book value at December 31, 2019 $ 425,018 $ 162,063 $ 15,746 $ 32,591 $ 635,418

Investment in associate (Tables

Investment in associate (Tables)	12 Months Ended
	Dec. 31, 2020
Interests In Other Entities [Abstract]
Summarized financial information in associate	Summarized financial information of Atlas (100% basis) is as follows: Consolidated statements of financial position as at Dec 31 Dec 31 Cash and cash equivalents $ 40,815 $ 50,149 Other current assets 1 65,434 60,709 Non-current assets 256,421 241,860 Current liabilities 1 (43,057) (28,191) Other long-term liabilities, including current maturities (133,079) (138,866) Net assets at 100% $ 186,534 $ 185,661 Net assets at 63.1% $ 117,703 $ 117,152 Long-term receivable from Atlas 1 76,322 76,322 Investment in associate $ 194,025 $ 193,474 Consolidated statements of income for the years ended December 31 2020 2019 Revenue 1 $ 250,996 $ 359,425 Cost of sales and depreciation and amortization (170,714) (217,333) Operating income 80,282 142,092 Finance costs, finance income and other expenses (10,297) (11,381) Income tax expense (23,112) (47,957) Net earnings at 100% $ 46,873 $ 82,754 Earnings of associate at 63.1% $ 29,577 $ 52,218 Dividends received from associate $ 29,026 $ 56,159

Other assets (Tables)

Other assets (Tables)	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Schedule of other assets	As at Dec 31 Dec 31 Restricted cash for debt service (a) $ 26,915 $ 22,648 Restricted cash for debt service and major maintenance of vessels (a) 15,064 13,505 Restricted cash relating to government grants — 3,260 Chile VAT receivable 22,118 20,874 Deferred financing fees 8,813 3,010 Investment in Carbon Recycling International 4,620 4,620 Defined benefit pension plans (note 21) 4,794 5,856 Other 16,839 17,218 Total other assets $ 99,163 $ 90,991 Less current portion (b) (6,634) (8,180) $ 92,529 $ 82,811

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Schedule of long-term debt	As at Dec 31 Dec 31 Unsecured notes (i) $250 million at 5.25% due March 1, 2022 — 248,912 (ii) $300 million at 4.25% due December 1, 2024 297,999 297,607 (iii) $700 million at 5.125% due October 15, 2027 691,434 — (iv) $700 million at 5.25% due December 15, 2029 694,282 693,822 (v) $300 million at 5.65% due December 1, 2044 295,410 295,321 1,979,125 1,535,662 Geismar 3 construction facility at LIBOR+3% 176,335 — Egypt limited recourse debt facilities 46,948 75,165 Other limited recourse debt facilities (i) LIBOR+0.75% to LIBOR+2.5% due through 2019 to 2021 — 1,526 (ii) 5.58% due through June 30, 2031 69,734 73,700 (iii) 5.35% due through September 30, 2033 78,391 82,800 (iv) 5.08% due through September 15, 2036 12,839 — 160,964 158,026 Total long-term debt 1 2,363,372 1,768,853 Less current maturities 1 (39,771) (38,420) $ 2,323,601 $ 1,730,433
Schedule of minimum principal payments for long-term debt	The gross minimum principal payments for long-term debt in aggregate and for each of the five succeeding years are as follows: Egypt limited recourse debt facilities Other limited recourse debt facilities Unsecured Construction Facility 1 Total 2021 $ 31,552 $ 8,824 $ — $ — $ 40,376 2022 16,606 11,778 — — 28,384 2023 — 12,424 — — 12,424 2024 — 12,576 300,000 173,000 485,576 2025 — 13,654 — — 13,654 Thereafter — 105,002 1,700,000 — 1,805,002 $ 48,158 $ 164,258 $ 2,000,000 $ 173,000 $ 2,385,416 1 Balance in long-term debt exceeds the principal payments by $3.3 million due the treatment for modification of interest terms.
Disclosure of debt covenants	The impact on the remaining periods for which the waivers apply is as follows: Four quarters ended Minimum interest coverage ratio 2 Minimum EBITDA 1 2 Q4 2020 not applicable $25 million Q1 2021 not applicable $30 million Q2 2021 not applicable $70 million Q3 2021 1.00x not applicable Q4 2021 1.25x not applicable Q1 2022 & thereafter 2.00x not applicable 1 EBITDA is defined under the terms of the credit facilities. 2 The minimum EBITDA or minimum interest coverage ratio provision may be fully waived for any two of the remaining measurement periods until Q4 2021.

Lease obligations (Tables)

Lease obligations (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of leases [Abstract]
Disclosure of additional information about leasing activities for lessee	2020 2019 Opening lease obligations 718,505 652,642 Additions, net of disposals 108,763 168,216 Interest expense 47,871 43,288 Lease payments (154,727) (145,100) Effect of movements in exchange rates and other 1,822 (541) Lease obligations at December 31 722,234 718,505 Less: current portion (97,516) (89,820) Lease obligations - non current portion $ 624,718 $ 628,685
Disclosure of maturity analysis of lease payments	The following table presents the contractual undiscounted cash flows for lease obligations as at December 31, 2020: Lease Interest Lease obligations 2021 $ 142,096 $ 44,580 $ 97,516 2022 118,139 40,075 78,064 2023 110,354 35,760 74,594 2024 101,467 31,622 69,845 2025 90,875 27,370 63,505 Thereafter 419,456 80,746 338,710 $ 982,387 $ 260,153 $ 722,234
Disclosure of potential lease options	Lease liabilities recognized (discounted) Potential future lease payments not included in lease liabilities (undiscounted) Ocean going vessels $ 472,322 $ 5,994 Terminals and tanks 194,938 30,161 Other 54,974 17,209 Total $ 722,234 $ 53,364

Other long-term liabilities (Ta

Other long-term liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Composition of other liabilities	As at Dec 31 Dec 31 Cash flow hedges (note 19) $ 180,798 $ 195,124 Share-based compensation liability (note 14) 71,913 18,382 Defined benefit pension plans (note 21) 36,646 28,121 Site restoration costs 31,941 31,092 Land mortgage 29,430 29,849 Government grant construction obligation — 3,173 Other 3,915 6,582 354,643 312,323 Less current maturities (27,152) (26,252) $ 327,491 $ 286,071
Provision for site restoration costs	The movement in the provision during the year is explained as follows: 2020 2019 Balance at January 1 $ 31,092 $ 27,638 New or revised provisions 423 2,638 Accretion expense 426 816 Balance at December 31 $ 31,941 $ 31,092

Expenses (Tables)

Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Analysis of income and expense [abstract]
Schedule of expenses	For the years ended December 31 2020 2019 Cost of sales $ 2,107,533 $ 2,570,840 Selling and distribution 498,126 498,738 Administrative expenses 106,593 74,486 Total expenses by function $ 2,712,252 $ 3,144,064 Cost of raw materials and purchased methanol 1,705,387 2,169,027 Ocean freight and other logistics 328,635 334,650 Employee expenses, including share-based compensation 246,779 184,171 Other expenses 74,322 112,089 Cost of sales and operating expenses 2,355,123 2,799,937 Depreciation and amortization 357,129 344,127 Total expenses by nature $ 2,712,252 $ 3,144,064

Finance costs (Tables)

Finance costs (Tables)	12 Months Ended
	Dec. 31, 2020
Borrowing costs [abstract]
Schedule of finance costs	For the years ended December 31 2020 2019 Finance costs before capitalized interest $ 182,841 $ 127,282 Less capitalized interest (18,004) (2,856) Finance costs $ 164,837 $ 124,426

Net income (loss) per common _2

Net income (loss) per common share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings per share [abstract]
Earnings per share reconciliation	A reconciliation of the numerator used for the purposes of calculating diluted net income (loss) per common share is as follows: For the years ended December 31 2020 2019 Numerator for basic net income (loss) per common share (156,678) $ 87,767 Adjustment for the effect of TSARs: Cash-settled recovery included in net income — (5,433) Equity-settled expense — (4,807) Numerator for diluted net income (loss) per common share (156,678) $ 77,527 A reconciliation of the denominator used for the purposes of calculating basic and diluted net income (loss) per common share is as follows: For the years ended December 31 2020 2019 Denominator for basic net income (loss) per common share 76,196,395 76,592,413 Effect of dilutive stock options — 17,325 Effect of dilutive TSARS — 82,756 Denominator for diluted net income (loss) per common share 76,196,395 76,692,494 For the years ended December 31, 2020 and 2019, basic and diluted net income (loss) per common share attributable to Methanex shareholders were as follows: For the years ended December 31 2020 2019 Basic net income (loss) per common share $ (2.06) $ 1.15 Diluted net income (loss) per common share $ (2.06) $ 1.01

Share-based compensation (Table

Share-based compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-Based Payment Arrangements [Abstract]
Changes in number and exercise prices of other equity instruments	SARs and TSARs units outstanding at December 31, 2020 and 2019 are as follows: SARs TSARs Number of Exercise Number of Exercise Outstanding at December 31, 2018 896,883 $ 51.27 1,447,301 $ 51.24 Granted 29,320 57.60 294,680 56.70 Exercised (39,662) 37.25 (45,769) 37.08 Cancelled (29,134) 54.72 (34,885) 53.38 Outstanding at December 31, 2019 857,407 $ 52.02 1,661,327 $ 52.55 Granted 96,160 29.27 761,050 29.27 Exercised (20,635) 34.59 (1,900) 34.59 Cancelled (31,660) 58.13 (5,967) 58.38 Expired (60,500) 38.24 (74,020) 38.24 Outstanding at December 31, 2020 840,772 $ 50.61 2,340,490 $ 45.43 Deferred, restricted and performance share units (old plan and new plan) outstanding as at December 31, 2020 and 2019 are as follows: Number of deferred share units Number of restricted share units Number of performance share units (old plan) Number of performance share units (new plan) Outstanding at December 31, 2018 209,092 17,361 579,778 — Granted 14,158 79,240 — 134,930 Performance factor impact on redemption 1 — — 132,215 — Granted in lieu of dividends 4,031 2,840 9,909 4,464 Redeemed (137,515) (15,428) (396,635) — Cancelled — (845) (21,822) (1,356) Outstanding at December 31, 2019 89,766 83,168 303,445 138,038 Granted 29,393 154,460 — 301,090 Performance factor impact on redemption 1 — — (117,674) — Granted in lieu of dividends 3,788 7,326 4,529 13,597 Redeemed — (7,713) (39,612) (1,842) Cancelled — (8,369) (3,887) (7,713) Outstanding at December 31, 2020 122,947 228,872 146,801 443,170 1 Performance share units granted prior to 2019 have a feature where the ultimate number of units that vest are adjusted by a performance factor of the original grant as determined by the Company's total shareholder return in relation to a predetermined target over the period to vesting. These units relate to performance share units redeemed in the quarter ended March 31, 2019, and the quarter ended March 31, 2020.
Number and weighted average remaining contractual life of SARs and TSARs outstanding and exercisable	Information regarding the SARs and TSARs outstanding as at December 31, 2020 is as follows: Units outstanding at December 31, 2020 Units exercisable at December 31, 2020 Range of exercise prices Weighted average remaining contractual life (years) Number of units outstanding Weighted average exercise price Number of units exercisable Weighted average exercise price SARs $29.27 to $35.51 3.62 260,071 $ 32.62 163,911 $ 34.59 $45.40 to $50.17 3.11 125,784 50.15 125,784 50.15 $54.65 to $78.59 1.86 454,917 61.01 397,516 61.77 2.59 840,772 $ 50.61 687,211 $ 53.16 TSARs $29.27 to $35.51 5.02 1,067,987 $ 30.80 306,937 $ 34.59 $45.40 to $50.17 3.33 311,184 49.84 296,637 50.05 $54.65 to $78.59 3.06 961,319 60.27 674,907 61.74 3.99 2,340,490 $ 45.43 1,278,481 $ 52.51
SARs and TSARs outstanding and exercisable by range of exercise prices	Information regarding the SARs and TSARs outstanding as at December 31, 2020 is as follows: Units outstanding at December 31, 2020 Units exercisable at December 31, 2020 Range of exercise prices Weighted average remaining contractual life (years) Number of units outstanding Weighted average exercise price Number of units exercisable Weighted average exercise price SARs $29.27 to $35.51 3.62 260,071 $ 32.62 163,911 $ 34.59 $45.40 to $50.17 3.11 125,784 50.15 125,784 50.15 $54.65 to $78.59 1.86 454,917 61.01 397,516 61.77 2.59 840,772 $ 50.61 687,211 $ 53.16 TSARs $29.27 to $35.51 5.02 1,067,987 $ 30.80 306,937 $ 34.59 $45.40 to $50.17 3.33 311,184 49.84 296,637 50.05 $54.65 to $78.59 3.06 961,319 60.27 674,907 61.74 3.99 2,340,490 $ 45.43 1,278,481 $ 52.51
Weighted average assumptions of outstanding SARs and TSARs	The fair value of each outstanding SARs and TSARs grant was estimated on December 31, 2020 and 2019 using the Black-Scholes option pricing model with the following weighted average assumptions: 2020 2019 Risk-free interest rate 0.1% 1.6% Expected dividend yield 0.3% 3.7% Expected life of SARs and TSARs (years) 1.6 1.2 Expected volatility 60% 38% Expected forfeitures 0.0% 0.1% Weighted average fair value (USD per share) $ 13.36 $ 3.03
Changes in stock options issued	Common shares reserved for outstanding incentive stock options as at December 31, 2020 and 2019 are as follows: Number of stock options Weighted average exercise price Outstanding at December 31, 2018 198,221 $ 48.55 Granted 7,410 57.60 Exercised (2,700) 31.73 Cancelled (2,300) 52.31 Outstanding at December 31, 2019 200,631 $ 49.07 Granted 15,440 $ 29.27 Exercised (5,900) 34.59 Cancelled (5,600) 58.96 Expired (31,320) 38.24 Outstanding at December 31, 2020 173,251 $ 49.44
Stock options outstanding and exercisable by range of exercise prices	Information regarding the stock options outstanding as at December 31, 2020 is as follows: Options outstanding at December 31, 2020 Options exercisable at December 31, 2020 Range of exercise prices Weighted average remaining contractual life (years) Number of stock options outstanding Weighted average exercise price Number of stock options exercisable Weighted average exercise price Options $29.27 to $35.51 3.14 63,307 $ 33.29 47,867 $ 34.59 $45.40 to $50.17 3.17 24,034 50.17 24,034 50.17 $54.65 to $78.59 1.89 85,910 61.13 74,402 61.94 2.53 173,251 $ 49.44 146,303 $ 51.06
Number and weighted average remaining contractual life of stock options outstanding and exercisable	Information regarding the stock options outstanding as at December 31, 2020 is as follows: Options outstanding at December 31, 2020 Options exercisable at December 31, 2020 Range of exercise prices Weighted average remaining contractual life (years) Number of stock options outstanding Weighted average exercise price Number of stock options exercisable Weighted average exercise price Options $29.27 to $35.51 3.14 63,307 $ 33.29 47,867 $ 34.59 $45.40 to $50.17 3.17 24,034 50.17 24,034 50.17 $54.65 to $78.59 1.89 85,910 61.13 74,402 61.94 2.53 173,251 $ 49.44 146,303 $ 51.06

Segmented information (Tables)

Segmented information (Tables)	12 Months Ended
	Dec. 31, 2020
Operating Segments [Abstract]
Revenue attributed to geographic regions	During the years ended December 31, 2020 and 2019, revenues attributed to geographic regions, based on the location of customers, were as follows: Revenue China Europe United States South Korea South America Canada Other Asia TOTAL 2020 $ 828,277 $ 488,955 $ 419,461 $ 284,461 $ 269,853 $ 117,480 $ 241,476 $ 2,649,963 31 % 18 % 16 % 12 % 10 % 4 % 9 % 100 % 2019 $ 998,302 $ 634,647 $ 581,631 $ 320,394 $ 307,706 $ 145,386 $ 295,448 $ 3,283,514 30 % 19 % 18 % 11 % 9 % 4 % 9 % 100 % As at December 31, 2020 and 2019, the net book value of property, plant and equipment by country was as follows: Property, plant and equipment 1 United States Egypt New Zealand Trinidad Canada Chile Waterfront Shipping Other TOTAL December 31, 2020 $ 1,727,982 $ 617,017 $ 241,581 $ 120,130 $ 191,010 $ 124,271 $ 610,843 $ 44,222 $ 3,677,056 December 31, 2019 $ 1,548,165 $ 657,961 $ 282,493 $ 146,273 $ 127,075 $ 145,892 $ 602,344 $ 65,992 $ 3,576,195 1 Includes right-of-use (leased) assets.

Income and other taxes (Tables)

Income and other taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Taxes [Abstract]
Components of income tax expense	Income tax recovery (expense): For the years ended December 31 2020 2019 Current tax recovery (expense): Current period before undernoted items $ (27,759) $ (38,953) Adjustments to prior years 2,563 144 (25,196) (38,809) Deferred tax recovery (expense): Origination and reversal of temporary differences 89,301 31,389 Adjustments to prior years (1,067) (138) Changes in tax rates (5,031) 2,141 Other 4,098 943 87,301 34,335 Total income tax recovery (expense) $ 62,105 $ (4,474)
Reconciliation of accounting profit multiplied by applicable tax rates	Income tax expense differs from the amounts that would be obtained by applying the Canadian statutory income tax rate to net income before income taxes as follows: For the years ended December 31 2020 2019 Income (loss) before income taxes $ (187,432) $ 120,840 Deduct earnings of associate (29,577) (52,218) (217,009) 68,622 Canadian statutory tax rate 25.6 % 26.8 % Income tax recovery (expense) calculated at Canadian statutory tax rate 55,554 (18,411) Decrease (increase) in income tax expense resulting from: Impact of income and losses taxed in foreign jurisdictions 3,771 7,001 Utilization of unrecognised loss carryforwards and temporary differences 7,013 6,945 Impact of tax rate changes (5,031) 2,141 Impact of foreign exchange 3,748 (484) Other business taxes (3,081) (2,798) Impact of recovery items (expenses) not taxable (deductible) for tax purposes (5,461) 1,826 Adjustments to prior years 1,496 6 Other 4,096 (700) Total income tax recovery (expense) 62,105 $ (4,474)
Effect of temporary difference, unused tax losses and unused tax credits and analysis of change in deferred income tax liabilities	The tax effect of temporary differences that give rise to deferred income tax liabilities and deferred income tax assets is as follows: As at Dec 31, 2020 Dec 31, 2019 Net Deferred tax assets Deferred tax liabilities Net Deferred tax assets Deferred tax liabilities Property, plant and equipment (owned) $ (448,533) $ (262,020) $ (186,513) $ (447,077) $ (250,890) $ (196,187) Right-of-use assets (43,386) (35,297) (8,089) (45,501) (26,725) (18,776) Repatriation taxes (102,370) — (102,370) (93,363) — (93,363) Other (15,205) — (15,205) (10,424) (48) (10,376) (609,494) (297,317) (312,177) (596,365) (277,663) (318,702) Non-capital loss carryforwards 391,132 339,396 51,736 286,004 286,004 — Lease obligations 56,894 44,455 12,439 56,802 33,979 22,823 Share-based compensation 14,669 1,758 12,911 3,075 — 3,075 Other 70,931 49,232 21,699 89,278 69,294 19,984 533,626 434,841 98,785 435,159 389,277 45,882 Net deferred income tax assets (liabilities) $ (75,868) $ 137,524 $ (213,392) $ (161,206) $ 111,614 $ (272,820) As at December 31, 2020, deferred income tax assets have been recognized in respect of non-capital loss carryforwards generated in the United States. These loss carryforwards expire as follows: Dec 31 2020 Gross amount Tax effect Expire Losses generated in 2014 (expires 2034) $ 33,252 $ 7,648 Losses generated in 2015 (expires 2035) 351,625 80,874 Losses generated in 2016 (expires 2036) 432,581 99,494 Losses generated in 2017 (expires 2037) 234,941 54,036 1,052,399 242,052 No expiry Losses generated in 2019 232,163 53,397 Losses generated in 2020 140,021 32,205 Total non-capital loss carryforwards $ 1,424,583 $ 327,654 2020 2019 Net Deferred tax assets Deferred tax liabilities Net Deferred tax assets Deferred tax liabilities Balance, January 1 $ (161,206) $ 111,614 $ (272,820) $ (221,682) $ 59,532 $ (281,214) Adjustment on adoption of IFRS 16 — — — 4,529 533 3,996 Balance, January 1 (restated) (161,206) 111,614 (272,820) (217,153) 60,065 (277,218) Deferred income tax recovery included in net income 87,301 28,243 59,058 34,335 28,875 5,460 Deferred income tax recovery (expense) included in other comprehensive income (2,325) (2,333) 8 22,049 21,871 178 Other 362 — 362 (437) 803 (1,240) Balance, December 31 $ (75,868) $ 137,524 $ (213,392) $ (161,206) $ 111,614 $ (272,820)

Supplemental cash flow inform_2

Supplemental cash flow information (Tables)	12 Months Ended
	Dec. 31, 2020
Cash Flow Statement [Abstract]
Changes in non-cash working capital	Changes in non-cash working capital for the years ended December 31, 2020 and 2019 are as follows: For the years ended December 31 2020 2019 Changes in non-cash working capital: Trade and other receivables $ 76,721 $ 25,847 Inventories (27,644) 106,907 Prepaid expenses 4,059 (5,264) Trade, other payables and accrued liabilities, including long-term payables included in other long-term liabilities 107,199 (123,660) 160,335 3,830 Adjustments for items not having a cash effect and working capital changes relating to taxes and interest paid (43,259) 17,107 Changes in non-cash working capital $ 117,076 $ 20,937 These changes relate to the following activities: Operating $ 64,923 $ 9,426 Investing 52,153 11,511 Changes in non-cash working capital $ 117,076 $ 20,937
Reconciliation of liabilities arising from financing activities	Reconciliation of movements in liabilities to cash flows arising from financing activities: Long term debt (note 8) Lease obligations (note 9) Balance at December 31, 2019 $ 1,768,853 $ 718,505 Changes from financing cash flows Repayment of long-term debt and financing fees (289,698) — Net proceeds on issue of long-term debt 865,415 — Draw on revolving credit facility 300,000 — Repayment of revolving credit facility (300,000) — Payment of lease obligations — (106,834) Proceeds from other limited recourse debt 12,839 Total changes from financing cash flows 588,556 (106,834) Liability-related other changes Finance costs 2,562 — New lease obligations — 108,763 Other 3,401 1,800 Total liability-related other changes 5,963 110,563 Balance at December 31, 2020 $ 2,363,372 $ 722,234

Capital disclosures (Tables)

Capital disclosures (Tables)	12 Months Ended
	Dec. 31, 2020
Corporate Information And Statement Of IFRS Compliance [Abstract]
Schedule of liquidity and capitalization	As at Dec 31 Dec 31 Liquidity: Cash and cash equivalents $ 833,841 $ 416,763 Undrawn credit facilities 300,000 300,000 Undrawn G3 construction facilities 627,000 800,000 Total liquidity $ 1,760,841 $ 1,516,763 Capitalization: G3 construction facility $ 176,335 $ — Unsecured notes, including current portion 1,979,125 1,535,662 Egypt limited recourse debt facilities, including current portion 46,948 75,165 Other limited recourse debt facilities, including current portion 160,964 158,026 Total debt 2,363,372 1,768,853 Non-controlling interests 292,357 298,675 Shareholders’ equity 1,149,100 1,331,685 Total capitalization $ 3,804,829 $ 3,399,213 Total debt to capitalization 1 62% 52% Net debt to capitalization 2 51% 45% 1 Total debt (including 100% of Egypt and Other limited recourse debt facilities) divided by total capitalization.

Financial instruments (Tables)

Financial instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Fair value measurement of assets	The following table provides the carrying value of each category of financial assets and liabilities and the related balance sheet item: As at Dec 31 Dec 31 Financial assets: Financial assets measured at fair value: Derivative instruments designated as cash flow hedges 1 $ 3,371 $ 10 Financial assets not measured at fair value: Cash and cash equivalents 833,841 416,763 Trade and other receivables, excluding tax receivable 406,392 473,980 Restricted cash included in other assets 41,979 39,413 Total financial assets 2 $ 1,285,583 $ 930,166 Financial liabilities: Financial liabilities measured at fair value: Derivative instruments designated as cash flow hedges 1 $ 181,372 $ 195,504 Financial liabilities not measured at fair value: Trade, other payables and accrued liabilities, excluding tax payable 500,056 406,260 Long-term debt, including current portion 2,363,372 1,768,853 Total financial liabilities $ 3,044,800 $ 2,370,617 1 The Geismar and Medicine Hat natural gas hedges and euro foreign currency hedges designated as cash flow hedges are measured at fair value based on industry accepted valuation models and inputs obtained from active markets.
Maturity profile of fair value liabilities	The table below shows the nominal net cash outflows for derivative hedging instruments including natural gas forward contracts and forward exchange contracts, excluding credit risk adjustments, based upon contracted settlement dates. The amounts reflect the maturity profile of the hedging instruments and are subject to change based on the prevailing market rate at each of the future settlement dates. Financial asset derivative positions, if any, are held with investment-grade counterparties and therefore the settlement day risk exposure is considered to be negligible. As at Dec 31 Dec 31 Within one year $ 15,047 $ 17,620 1-3 years 44,841 45,432 3-5 years 63,002 56,887 More than 5 years 91,732 124,365 $ 214,622 $ 244,304
Fair value measurement of liabilities	The following table provides the carrying value of each category of financial assets and liabilities and the related balance sheet item: As at Dec 31 Dec 31 Financial assets: Financial assets measured at fair value: Derivative instruments designated as cash flow hedges 1 $ 3,371 $ 10 Financial assets not measured at fair value: Cash and cash equivalents 833,841 416,763 Trade and other receivables, excluding tax receivable 406,392 473,980 Restricted cash included in other assets 41,979 39,413 Total financial assets 2 $ 1,285,583 $ 930,166 Financial liabilities: Financial liabilities measured at fair value: Derivative instruments designated as cash flow hedges 1 $ 181,372 $ 195,504 Financial liabilities not measured at fair value: Trade, other payables and accrued liabilities, excluding tax payable 500,056 406,260 Long-term debt, including current portion 2,363,372 1,768,853 Total financial liabilities $ 3,044,800 $ 2,370,617 1 The Geismar and Medicine Hat natural gas hedges and euro foreign currency hedges designated as cash flow hedges are measured at fair value based on industry accepted valuation models and inputs obtained from active markets. 2 The carrying amount of the financial assets represents the maximum exposure to credit risk at the respective reporting periods. The carrying values of the Company’s financial instruments approximate their fair values, except as follows: As at December 31, 2020 December 31, 2019 Carrying value Fair value Carrying value Fair value Long-term debt excluding deferred financing fees $ 2,382,699 $ 2,559,771 $ 1,786,025 $ 1,831,292

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Schedule of interest rate risk exposure	The Company’s interest rate risk exposure is mainly related to long-term debt obligations. As at Dec 31 Dec 31 Fixed interest rate debt: Unsecured notes $ 1,979,125 $ 1,535,662 Other limited recourse debt facilities 160,964 156,500 $ 2,140,089 $ 1,692,162 Variable interest rate debt: Geismar 3 construction facility $ 176,335 $ — Egypt limited recourse debt facilities 46,948 75,165 Other limited recourse debt facilities — 1,526 $ 223,283 $ 76,691
Expected cash flows of financial liabilities by maturity date	The expected cash flows of financial liabilities from the date of the balance sheet to the contractual maturity date are as follows: As at December 31, 2020 Carrying amount Contractual cash flows 1 year or less 1-3 years 3-5 years More than 5 years Trade and other payables 1 $ 485,545 $ 485,545 $ 485,545 $ — $ — $ — Lease obligations 2 722,234 982,387 142,096 228,493 192,342 419,456 Long-term debt 2 2,363,372 3,509,538 158,063 274,599 708,577 2,368,299 Cash flow hedges 3 181,372 214,622 15,047 44,841 63,002 91,732 $ 3,752,523 $ 5,192,092 $ 800,751 $ 547,933 $ 963,921 $ 2,879,487 1 Excludes tax and accrued interest. 2 Contractual cash flows include contractual interest payments related to debt obligations and lease obligations. Interest rates on variable rate debt are based on prevailing rates as at December 31, 2020. 3 Cash flow hedges includes the impact of discounting and credit valuation adjustments

Retirement plans (Tables)

Retirement plans (Tables)	12 Months Ended
	Dec. 31, 2020
Employee Benefits [Abstract]
Disclosure of net defined benefit liability (asset)	Information concerning the Company’s defined benefit pension plans, in aggregate, is as follows: As at Dec 31 Dec 31 Accrued benefit obligations: Balance, beginning of year $ 66,061 $ 60,618 Current service cost 3,016 2,639 Interest cost on accrued benefit obligations 1,794 2,196 Benefit payments (2,227) (7,092) Actuarial loss 7,120 8,041 Foreign exchange (gain) loss 3,046 (341) Balance, end of year 78,810 66,061 Fair values of plan assets: Balance, beginning of year 43,891 40,955 Interest income on assets 1,260 1,396 Contributions 1,182 4,056 Benefit payments (2,227) (7,092) Return on plan assets 1,940 2,500 Foreign exchange gain 912 2,076 Balance, end of year 46,958 43,891 Unfunded status 31,852 22,170 Minimum funding requirement — — Defined benefit obligation, net $ 31,852 $ 22,170
Expense recognized in the income statement	The Company’s net defined benefit pension plan expense charged to the consolidated statements of income (loss) for the years ended December 31, 2020 and 2019 is as follows: For the years ended December 31 2020 2019 Net defined benefit pension plan expense: Current service cost $ 3,016 $ 2,639 Net interest cost 534 800 Total net defined benefit pension plan expense $ 3,550 $ 3,439
Expense recognized in other comprehensive income	The Company’s current year actuarial losses, recognized in the consolidated statements of comprehensive income (loss) for the years ended December 31, 2020 and 2019, are as follows: For the years ended December 31 2020 2019 Actuarial loss $ (5,413) $ (4,479)
Disclosure of fair value of plan assets	The asset allocation for the defined benefit pension plan assets as at December 31, 2020 and 2019 is as follows: As at Dec 31 Dec 31 Equity securities 18% 18% Debt securities 57% 57% Cash and other short-term securities 25% 25% Total 100% 100%

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies [Abstract]
Schedule of minimum estimated commitment under purchase contracts	The minimum estimated commitment under these contracts, except as noted below, is as follows: As at December 31, 2020 2021 2022 2023 2024 2025 Thereafter $ 397,515 $ 397,346 $ 431,060 $ 447,165 $ 447,017 $ 1,560,734
Contractual obligations	The Company has future minimum payments relating primarily to short-term vessel charters, terminal facilities, and other commitments that are not leases, as follows: As at December 31, 2020 2021 2022 2023 2024 2025 Thereafter $ 64,768 $ 3,304 $ 539 $ 539 $ 539 $ 2,571

Related parties (Tables)

Related parties (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party [Abstract]
Disclosure of interests in subsidiaries and joint ventures	The Company has interests in significant subsidiaries and joint ventures as follows: Name Country of incorporation Principal activities Interest % Dec 31 Dec 31 Significant subsidiaries: Methanex Asia Pacific Limited Hong Kong Marketing & distribution 100% 100% Methanex Services (Shanghai) Co., Ltd. China Marketing & distribution 100% 100% Methanex Europe NV Belgium Marketing & distribution 100% 100% Methanex Methanol Company, LLC United States Marketing & distribution 100% 100% Egyptian Methanex Methanol Company S.A.E. ("Methanex Egypt") Egypt Production 50% 50% Methanex Chile SpA Chile Production 100% 100% Methanex New Zealand Limited New Zealand Production 100% 100% Methanex Trinidad (Titan) Unlimited Trinidad Production 100% 100% Methanex USA LLC United States Production 100% 100% Methanex Louisiana LLC United States Production 100% 100% Waterfront Shipping Company Limited 1 Cayman Islands Shipping 100% 100% Significant joint ventures: Atlas Methanol Company Unlimited 2 Trinidad Production 63.1% 63.1% 1 Waterfront Shipping Company Limited has a controlling interest in multiple ocean going vessels owned through less than wholly-owned entities as disclosed in note 24. 2 Summarized financial information for the group's investment in Atlas is disclosed in note 6.
Disclosure of transactions between related parties	Remuneration received by non-management directors and senior management, which includes the members of the executive leadership team, is as follows: For the years ended December 31 2020 2019 Short-term employee benefits $ 6,272 $ 9,097 Post-employment benefits 944 767 Other long-term employee benefits 50 50 Share-based compensation expense 1 26,481 127 Total $ 33,747 $ 10,041 1 Balance includes realized and unrealized gains from share-based compensation awards granted.

Non-controlling interests (Tabl

Non-controlling interests (Tables)	12 Months Ended
	Dec. 31, 2020
Interest In Other Entities [Abstract]
Summary of financial information for each subsidiary with non-controlling interests	Set out below is summarized financial information for each of our subsidiaries that have non-controlling interests. The amounts disclosed are before inter-company eliminations. As at Dec 31, 2020 Dec 31, 2019 Methanex Vessels 1 Total Methanex Vessels 1 Total Current assets $ 155,339 $ 10,628 $ 165,967 $ 158,436 $ 25,471 $ 183,907 Non-current assets 618,797 197,223 816,020 653,495 182,248 835,743 Current liabilities (87,907) (18,960) (106,867) (74,498) (22,326) (96,824) Non-current liabilities (127,144) (174,309) (301,453) (156,058) (153,842) (309,900) Net assets 559,085 14,582 573,667 581,375 31,551 612,926 Carrying amount of Methanex non-controlling interests $ 272,449 $ 19,908 $ 292,357 $ 278,780 $ 19,895 $ 298,675 For the years ended December 31 2020 2019 Methanex Vessels 1 Total Methanex Vessels 1 Total Revenue $ 192,575 $ 40,118 $ 232,693 $ 171,532 $ 36,500 $ 208,032 Net and total comprehensive income 18,566 9,474 28,040 4,182 7,834 12,016 Net and total comprehensive income attributable to Methanex non-controlling interests 26,578 4,773 31,351 24,697 3,902 28,599 Equity contributions by non-controlling interests $ — $ 5,500 $ 5,500 $ — $ — $ — Acquisition of non-controlling interests — (6,714) (6,714) — (2,219) (2,219) Impact of adoption of IFRS 16 — — — (3,355) — (3,355) Distributions paid and accrued to non-controlling interests $ (32,909) $ (3,546) $ (36,455) $ (17,865) $ (3,113) $ (20,978) For the years ended December 31 2020 2019 Methanex Vessels 1 Total Methanex Vessels 1 Total Cash flows from (used in) operating activities $ 145,672 $ 24,951 $ 170,623 $ 68,022 $ 24,267 $ 92,289 Cash flows from (used in) financing activities (96,052) (17,344) (113,396) (74,675) (21,606) (96,281) Cash flows from (used in) investing activities $ (5,309) $ (7,788) $ (13,097) $ (8,859) $ (3,723) $ (12,582)

Significant accounting polici_3

Significant accounting policies - Property plant and equipment (Details) - Buildings, plant installations and machinery	12 Months Ended
	Dec. 31, 2020
Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	10 years
Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives	25 years

Significant accounting polici_4

Significant accounting policies - Leases (Details)	12 Months Ended
	Dec. 31, 2020
Maximum
Disclosure of Finance Leases [Line Items]
Lease term	18 years

Significant accounting polici_5

Significant accounting policies - Share-based compensation (Details)	12 Months Ended
	Dec. 31, 2020performanceFactor
Performance shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based Compensation Arrangement by Share-based Payment Award, Weighted-average Closing Share Price, duration	90 days
Performance shares | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation arrangement vesting rights, percentage	25.00%
Performance shares | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation arrangement vesting rights, percentage	150.00%
Performance Share Units (PSU) New Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	3 years
Number of performance factors	2
Performance Share Units (PSU) New Plan | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation arrangement vesting rights, percentage	0.00%
Performance Share Units (PSU) New Plan | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation arrangement vesting rights, percentage	200.00%

Significant accounting polici_6

Significant accounting policies - Segmented information (Details)	12 Months Ended
	Dec. 31, 2020segment
Corporate Information And Statement Of IFRS Compliance [Abstract]
Number of operating segments	1

Trade and other receivables (De

Trade and other receivables (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Assets [Line Items]
Trade	$ 335,988,000		$ 343,959,000
Egypt insurance recovery	0	$ 60,000,000	50,000,000
Value-added and other tax receivables	22,903,000		44,408,000
Other	53,109,000		50,354,000
Trade and other receivables	$ 412,000,000		488,721,000
Methanex
Assets [Line Items]
Egypt insurance recovery		$ 30,000,000	$ 25,000,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Inventories [Abstract]
Cost of inventories recognized as expense	$ 2,189	$ 2,742

Property, plant and equipment -

Property, plant and equipment - Book Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [abstract]
Owned assets	$ 3,052,060	$ 2,940,777
Right-of-use assets	624,996	635,418
Total	$ 3,677,056	$ 3,576,195

Property, plant and equipment_2

Property, plant and equipment - Owned Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	$ 2,940,777
Value at end of period	3,052,060	$ 2,940,777
Buildings, plant installations and machinery
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	2,572,455
Value at end of period	2,448,736	2,572,455
Plants under construction
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	155,871
Value at end of period	386,905	155,871
Ocean going vessels
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	176,499
Value at end of period	182,173	176,499
Other
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	35,952
Value at end of period	34,246	35,952
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	5,299,801	5,070,619
Additions	370,136	330,636
Disposals and other	55,139	101,454
Transfers		0
Value at end of period	5,614,798	5,299,801
Cost | Buildings, plant installations and machinery
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	4,787,515	4,698,142
Additions	116,850	150,570
Disposals and other	42,453	61,197
Transfers		0
Value at end of period	4,861,912	4,787,515
Cost | Plants under construction
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	155,871	0
Additions	231,034	118,249
Disposals and other	0	0
Transfers		37,622
Value at end of period	386,905	155,871
Cost | Plants under construction | Geismar 3 Facility
Reconciliation of changes in property, plant and equipment [abstract]
Transfers		19,000
Cost | Ocean going vessels
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	201,947	183,419
Additions	20,838	57,479
Disposals and other	12,686	38,951
Transfers		0
Value at end of period	210,099	201,947
Cost | Other
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	154,468	189,058
Additions	1,414	4,338
Disposals and other	0	1,306
Transfers		(37,622)
Value at end of period	155,882	154,468
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	(2,359,024)	(2,213,353)
Disposals and other	(39,688)	(96,386)
Depreciation	243,402	242,057
Value at end of period	(2,562,738)	(2,359,024)
Accumulated depreciation | Buildings, plant installations and machinery
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	(2,215,060)	(2,047,735)
Disposals and other	(31,058)	(63,169)
Depreciation	229,174	230,494
Value at end of period	(2,413,176)	(2,215,060)
Accumulated depreciation | Plants under construction
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	0	0
Disposals and other	0	0
Depreciation	0	0
Value at end of period	0	0
Accumulated depreciation | Ocean going vessels
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	(25,448)	(48,426)
Disposals and other	(8,601)	(31,620)
Depreciation	11,079	8,642
Value at end of period	(27,926)	(25,448)
Accumulated depreciation | Other
Reconciliation of changes in property, plant and equipment [abstract]
Value at beginning of period	(118,516)	(117,192)
Disposals and other	(29)	(1,597)
Depreciation	3,149	2,921
Value at end of period	$ (121,636)	$ (118,516)

Property, plant and equipment_3

Property, plant and equipment - Key Assumptions (Details) - Titian CGU	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Discount rate used in current estimate of value in use	13.00%
Long-term average realized price
Disclosure of detailed information about property, plant and equipment [line items]
Change Required for Carrying Value to Equal Recoverable Value	0.03
Production volumes
Disclosure of detailed information about property, plant and equipment [line items]
Change Required for Carrying Value to Equal Recoverable Value	0.11
Gas price
Disclosure of detailed information about property, plant and equipment [line items]
Change Required for Carrying Value to Equal Recoverable Value	0.07
Discount rate (after-tax)
Disclosure of detailed information about property, plant and equipment [line items]
Change Required for Carrying Value to Equal Recoverable Value	0.0330

Property, plant and equipment_4

Property, plant and equipment - Right of use assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	$ 635,418
Right-of-use assets, ending balance	624,996	$ 635,418
Cost
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	798,097	628,479
Additions	114,005	171,992
Disposals and other	(20,046)	(2,374)
Right-of-use assets, ending balance	892,056	798,097
Accumulated depreciation
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	(162,679)	(49,981)
Disposals and other	14,026	0
Depreciation	118,407	112,698
Right-of-use assets, ending balance	(267,060)	(162,679)
Ocean going vessels
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	425,018
Right-of-use assets, ending balance	429,456	425,018
Ocean going vessels | Cost
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	514,661	370,654
Additions	86,214	144,764
Disposals and other	(18,803)	(757)
Right-of-use assets, ending balance	582,072	514,661
Ocean going vessels | Accumulated depreciation
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	(89,643)	(15,204)
Disposals and other	13,727	0
Depreciation	76,700	74,439
Right-of-use assets, ending balance	(152,616)	(89,643)
Terminals and tanks
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	162,063
Right-of-use assets, ending balance	154,719	162,063
Terminals and tanks | Cost
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	221,303	207,721
Additions	25,758	13,582
Disposals and other	(508)	0
Right-of-use assets, ending balance	246,553	221,303
Terminals and tanks | Accumulated depreciation
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	(59,240)	(29,333)
Disposals and other	0	0
Depreciation	32,594	29,907
Right-of-use assets, ending balance	(91,834)	(59,240)
Buildings, plant installations and machinery
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	15,746
Right-of-use assets, ending balance	13,353	15,746
Buildings, plant installations and machinery | Cost
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	23,613	19,705
Additions	148	3,908
Disposals and other	0	0
Right-of-use assets, ending balance	23,761	23,613
Buildings, plant installations and machinery | Accumulated depreciation
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	(7,867)	(5,444)
Disposals and other	0	0
Depreciation	2,541	2,423
Right-of-use assets, ending balance	(10,408)	(7,867)
Other
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	32,591
Right-of-use assets, ending balance	27,468	32,591
Other | Cost
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	38,520	30,399
Additions	1,885	9,738
Disposals and other	(735)	(1,617)
Right-of-use assets, ending balance	39,670	38,520
Other | Accumulated depreciation
Reconciliation of Changes in Right of Use Assets [Roll Forward]
Right-of-use assets, beginning balance	(5,929)	0
Disposals and other	299	0
Depreciation	6,572	5,929
Right-of-use assets, ending balance	$ (12,202)	$ (5,929)

Investment in associate - Addit

Investment in associate - Additional information (Details) - t t in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of associates [line items]
Percentage of sales	100.00%	100.00%
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Annual methanol production facility owned (in tonnes)	1.8
Ownership rate	100.00%
Atlas Methanol Company Unlimited | Fixed-price contracts | Methanol | 2005 through 2014
Disclosure of associates [line items]
Percentage of sales	50.00%
Atlas Methanol Company Unlimited | Fixed-price contracts | Methanol | Late 2014 through 2019
Disclosure of associates [line items]
Percentage of sales	10.00%
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Percentage of ownership interest in associates	63.10%	63.10%

Investment in associate - State

Investment in associate - Statements of financial position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of associates [line items]
Cash and cash equivalents	$ 833,841	$ 416,763	$ 256,077
Other current assets	6,634	8,180
Non-current assets	4,101,134	3,964,094
Current liabilities	(765,392)	(648,246)
Investment in associate	194,025	193,474
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Net assets	117,703	117,152
Long-term receivable from Atlas	76,322	76,322
Investment in associate	$ 194,025	$ 193,474
Percentage of ownership interest in associates	63.10%	63.10%
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Cash and cash equivalents	$ 40,815	$ 50,149
Other current assets	65,434	60,709
Non-current assets	256,421	241,860
Current liabilities	(43,057)	(28,191)
Other long-term liabilities, including current maturities	(133,079)	(138,866)
Net assets	$ 186,534	$ 185,661
Ownership rate	100.00%

Investment in associate - Sta_2

Investment in associate - Statements of income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of associates [line items]
Revenue	$ 2,649,963	$ 3,283,514
Operating income (loss)	(52,450)	189,450
Income tax expense	62,105	(4,474)
Net income (loss)	(125,327)	116,366
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Net income (loss)	29,577	52,218
Dividends received from associate	$ 29,026	$ 56,159
Percentage of ownership interest in associates	63.10%	63.10%
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Revenue	$ 250,996	$ 359,425
Cost of sales and depreciation and amortization	(170,714)	(217,333)
Operating income (loss)	80,282	142,092
Finance costs, finance income and other expenses	(10,297)	(11,381)
Income tax expense	(23,112)	(47,957)
Net income (loss)	$ 46,873	$ 82,754
Ownership rate	100.00%

Other assets - Schedule (Detail

Other assets - Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Restricted cash for debt service	$ 26,915	$ 22,648
Restricted cash for debt service and major maintenance of vessels	15,064	13,505
Restricted cash relating to government grants	0	3,260
Chile VAT receivable	22,118	20,874
Deferred financing fees	8,813	3,010
Investment in Carbon Recycling International	4,620	4,620
Defined benefit pension plans	4,794	5,856
Other	16,839	17,218
Total other assets	99,163	90,991
Less current portion	(6,634)	(8,180)
Other assets	$ 92,529	$ 82,811

Other assets - Narrative (Detai

Other assets - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)vessel	Dec. 31, 2019USD ($)
Subclassifications of assets, liabilities and equities [abstract]
Restricted cash and cash equivalents	$ 42	$ 39.4
Restricted cash, major maintenance	$ 6.2
Restricted cash, number of vessels | vessel	2
Restricted cash, current hedge	$ 0.4

Long-term debt - Schedule (Deta

Long-term debt - Schedule (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 2,363,372,000	$ 1,768,853,000
Less current maturities	(39,771,000)	(38,420,000)
Non-current portion of long-term debt	2,323,601,000	1,730,433,000
Debt discounts and deferred financing fees	25,400,000	20,400,000
Unsecured notes
Disclosure of detailed information about borrowings [line items]
Total long-term debt	1,979,125,000	1,535,662,000
$250 million at 5.25% due March 1, 2022
Disclosure of detailed information about borrowings [line items]
Total long-term debt	0	248,912,000
Notional amount	$ 250,000,000
$250 million at 5.25% due March 1, 2022 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	5.25%
$300 million at 4.25% due December 1, 2024
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 297,999,000	297,607,000
Notional amount	$ 300,000,000
$300 million at 4.25% due December 1, 2024 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	4.25%
$700 million at 5.125% due October 15, 2027
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 691,434,000	0
Notional amount	$ 700,000,000
Interest rate	5.125%
$700 million at 5.125% due October 15, 2027 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	5.125%
$700 million at 5.25% due December 15, 2029
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 694,282,000	693,822,000
Notional amount	$ 700,000,000
$700 million at 5.25% due December 15, 2029 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	5.25%
$300 million at 5.65% due December 1, 2044
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 295,410,000	295,321,000
Notional amount	$ 300,000,000
$300 million at 5.65% due December 1, 2044 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	5.65%
Geismar 3 construction facility
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 176,335,000	0
Geismar 3 construction facility | LIBOR
Disclosure of detailed information about borrowings [line items]
Basis spread, percent	3.00%
Egypt limited recourse debt facilities
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 46,948,000	75,165,000
Egypt limited recourse debt facilities | LIBOR | Bottom of range
Disclosure of detailed information about borrowings [line items]
Basis spread, percent	1.60%
Egypt limited recourse debt facilities | LIBOR | Top of range
Disclosure of detailed information about borrowings [line items]
Basis spread, percent	1.90%
Other limited recourse debt facilities
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 160,964,000	158,026,000
LIBOR Plus 0.75% to LIBOR Plus 2.5% due 2019 to 2021
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 0	1,526,000
LIBOR Plus 0.75% to LIBOR Plus 2.5% due 2019 to 2021 | LIBOR | Bottom of range
Disclosure of detailed information about borrowings [line items]
Basis spread, percent	0.75%
LIBOR Plus 0.75% to LIBOR Plus 2.5% due 2019 to 2021 | LIBOR | Top of range
Disclosure of detailed information about borrowings [line items]
Basis spread, percent	2.50%
5.58% due June 30, 2031
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 69,734,000	73,700,000
5.58% due June 30, 2031 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	5.58%
5.35% due September 30, 2033
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 78,391,000	82,800,000
5.35% due September 30, 2033 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	5.35%
5.08% due September 15, 2036
Disclosure of detailed information about borrowings [line items]
Total long-term debt	$ 12,839,000	$ 0
5.08% due September 15, 2036 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate	5.08%

Long-term debt - Narrative (Det

Long-term debt - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)vesselsemi-annual_payment	Dec. 31, 2019USD ($)
Disclosure of detailed information about borrowings [line items]
Accretion of deferred financing costs	$ 3,600,000	$ 3,600,000
Debt instruments issued	29,430,000	29,849,000
Repayments of borrowings	295,917,000	388,216,000
Long-term debt	$ 2,363,372,000	1,768,853,000
Egypt limited recourse debt facilities
Disclosure of detailed information about borrowings [line items]
Number of semi-annual principal payments | semi-annual_payment	24
Long-term debt	$ 46,948,000	75,165,000
Egypt limited recourse debt facilities | Egypt entity
Disclosure of detailed information about borrowings [line items]
Percentage of gas requirements (greater than)	70.00%
Egypt limited recourse debt facilities | Bottom of range | LIBOR
Disclosure of detailed information about borrowings [line items]
Basis spread, percent	1.60%
Egypt limited recourse debt facilities | Top of range | LIBOR
Disclosure of detailed information about borrowings [line items]
Basis spread, percent	1.90%
Other limited recourse debt facilities
Disclosure of detailed information about borrowings [line items]
Long-term debt	$ 160,964,000	158,026,000
Other limited recourse debt facilities | 50% owned subsidiary
Disclosure of detailed information about borrowings [line items]
Ownership rate	50.00%
Other limited recourse debt facilities, 5.08% due 5.08% due September 15, 2036
Disclosure of detailed information about borrowings [line items]
Number of vessels to be acquired | vessel	1
Long-term debt	$ 12,839,000	0
Other limited recourse debt facilities, 5.08% due 5.08% due September 15, 2036 | 50% owned subsidiary
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 13,000,000
Other limited recourse debt facilities, 5.08% due 5.08% due September 15, 2036 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	5.08%
Unsecured debt due October 15, 2027
Disclosure of detailed information about borrowings [line items]
Notional amount	$ 700,000,000
Borrowings, interest rate	5.125%
Debt instruments issued	$ 700,000,000
Long-term debt	$ 691,434,000	0
Unsecured debt due October 15, 2027 | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	5.125%
Unsecured debt due March 1, 2022
Disclosure of detailed information about borrowings [line items]
Repayments of borrowings	$ 250,000,000
Construction facilities
Disclosure of detailed information about borrowings [line items]
Long-term debt	173,000,000
Undrawn borrowing facilities	$ 627,000,000	800,000,000
Debt covenant, debt to capitalization ratio	60.00%
Revolving credit facility
Disclosure of detailed information about borrowings [line items]
Undrawn borrowing facilities	$ 300,000,000	$ 300,000,000
Debt covenant, EBITDA to interest coverage ratio	2
Debt covenant, debt to capitalization ratio	57.50%
Default payment accelerated by a creditor, amount of indebtedness (or more)	$ 50,000,000
Default that permits a creditor to demand repayment, amount of indebtedness (or more)	$ 50,000,000
Revolving credit facility | Bottom of range
Disclosure of detailed information about borrowings [line items]
Debt covenant, EBITDA to interest coverage ratio	1.25
Amended revolving credit facility
Disclosure of detailed information about borrowings [line items]
Debt covenant, debt to capitalization ratio	60.00%

Long-term debt - Maturity (Deta

Long-term debt - Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	$ 2,363,372	$ 1,768,853
Egypt limited recourse debt facilities
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	46,948	75,165
Other limited recourse debt facilities
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	160,964	158,026
Unsecured notes
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	1,979,125	1,535,662
Construction Facility
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	176,335	$ 0
Carrying amount
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	2,385,416
Carrying amount | 2021
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	40,376
Carrying amount | 2022
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	28,384
Carrying amount | 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	12,424
Carrying amount | 2024
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	485,576
Carrying amount | 2025
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	13,654
Carrying amount | Thereafter
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	1,805,002
Carrying amount | Egypt limited recourse debt facilities
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	48,158
Carrying amount | Egypt limited recourse debt facilities | 2021
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	31,552
Carrying amount | Egypt limited recourse debt facilities | 2022
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	16,606
Carrying amount | Egypt limited recourse debt facilities | 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Egypt limited recourse debt facilities | 2024
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Egypt limited recourse debt facilities | 2025
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Egypt limited recourse debt facilities | Thereafter
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Other limited recourse debt facilities
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	164,258
Carrying amount | Other limited recourse debt facilities | 2021
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	8,824
Carrying amount | Other limited recourse debt facilities | 2022
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	11,778
Carrying amount | Other limited recourse debt facilities | 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	12,424
Carrying amount | Other limited recourse debt facilities | 2024
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	12,576
Carrying amount | Other limited recourse debt facilities | 2025
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	13,654
Carrying amount | Other limited recourse debt facilities | Thereafter
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	105,002
Carrying amount | Unsecured notes
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	2,000,000
Carrying amount | Unsecured notes | 2021
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Unsecured notes | 2022
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Unsecured notes | 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Unsecured notes | 2024
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	300,000
Carrying amount | Unsecured notes | 2025
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Unsecured notes | Thereafter
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	1,700,000
Carrying amount | Construction Facility
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	173,000
Long-term debt exceeding principal payment	3,300
Carrying amount | Construction Facility | 2021
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Construction Facility | 2022
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Construction Facility | 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Construction Facility | 2024
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	173,000
Carrying amount | Construction Facility | 2025
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	0
Carrying amount | Construction Facility | Thereafter
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Long-term debt	$ 0

Long-term debt - Covenants (Det

Long-term debt - Covenants (Details)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021USD ($)	Sep. 30, 2021	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)period
Disclosure of detailed information about borrowings [table]
Minimum interest coverage ratio	2	1.25	1
Minimum EBITDA | $		$ 30,000,000		$ 70,000,000	$ 25,000,000
Remaining periods eligible to be waived | period					2

Lease obligations - Lease activ

Lease obligations - Lease activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Lease Obligations [Roll Forward]
Lease liabilities, beginning balance	$ 718,505	$ 652,642
Additions, net of disposals	108,763	168,216
Interest expense	47,871	43,288
Lease payments	(154,727)	(145,100)
Effect of movements in exchange rates and other	1,822	(541)
Lease liabilities, ending balance	722,234	718,505
Less: current portion	(97,516)	(89,820)
Lease obligations - non current portion	$ 624,718	$ 628,685

Lease obligations - Lease payme

Lease obligations - Lease payments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Disclosure Of Maturity Analysis Of Lease Payments [Line Items]
Lease payments	$ 982,387
Interest component	260,153
Lease obligations	722,234
2021
Disclosure Of Maturity Analysis Of Lease Payments [Line Items]
Lease payments	142,096
Interest component	44,580
Lease obligations	97,516
2022
Disclosure Of Maturity Analysis Of Lease Payments [Line Items]
Lease payments	118,139
Interest component	40,075
Lease obligations	78,064
2023
Disclosure Of Maturity Analysis Of Lease Payments [Line Items]
Lease payments	110,354
Interest component	35,760
Lease obligations	74,594
2024
Disclosure Of Maturity Analysis Of Lease Payments [Line Items]
Lease payments	101,467
Interest component	31,622
Lease obligations	69,845
2025
Disclosure Of Maturity Analysis Of Lease Payments [Line Items]
Lease payments	90,875
Interest component	27,370
Lease obligations	63,505
Thereafter
Disclosure Of Maturity Analysis Of Lease Payments [Line Items]
Lease payments	419,456
Interest component	80,746
Lease obligations	$ 338,710

Lease obligations - Narrative (

Lease obligations - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)vessel	Dec. 31, 2019USD ($)
Disclosure of leases [Abstract]
Expense relating to variable lease payments not included in measurement of lease liabilities	$ 91,800	$ 83,700
Expense relating to short-term leases for which recognition exemption has been used	300	500
Potential future lease payments not included in lease liabilities (undiscounted)	53,364	70,600
Lease not yet commenced, amount	$ 550,800	$ 6,600
Lease not yet commenced, number of additions | vessel	8
Lease not yet commenced, term	15 years

Lease obligations - Extension o

Lease obligations - Extension options (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Finance Leases [Line Items]
Lease liabilities recognized (discounted)	$ 722,234
Potential future lease payments not included in lease liabilities (undiscounted)	53,364	$ 70,600
Ocean going vessels
Disclosure of Finance Leases [Line Items]
Lease liabilities recognized (discounted)	472,322
Potential future lease payments not included in lease liabilities (undiscounted)	5,994
Terminals and tanks
Disclosure of Finance Leases [Line Items]
Lease liabilities recognized (discounted)	194,938
Potential future lease payments not included in lease liabilities (undiscounted)	30,161
Other
Disclosure of Finance Leases [Line Items]
Lease liabilities recognized (discounted)	54,974
Potential future lease payments not included in lease liabilities (undiscounted)	$ 17,209

Other long-term liabilities - O

Other long-term liabilities - Other long-term liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Cash flow hedges	$ 180,798	$ 195,124
Share-based compensation liability	71,913	18,382
Defined benefit pension plans	36,646	28,121
Site restoration costs	31,941	31,092
Land mortgage	29,430	29,849
Government grant construction obligation	0	3,173
Other	3,915	6,582
Other long-term liabilities, total	354,643	312,323
Less current maturities	(27,152)	(26,252)
Other non-current liabilities	$ 327,491	$ 286,071

Other long-term liabilities - N

Other long-term liabilities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Undiscounted amount of estimated cash flows required to settle liabilities	$ 35.5	$ 38.1

Other long-term liabilities - P

Other long-term liabilities - Provision for site restoration costs (Details) - Provision for site restoration costs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	$ 31,092	$ 27,638
New or revised provisions	423	2,638
Accretion expense	426	816
Balance at end of period	$ 31,941	$ 31,092

Expenses (Details)

Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Cost of sales	$ 2,107,533	$ 2,570,840
Selling and distribution	498,126	498,738
Administrative expenses	106,593	74,486
Total expenses by function	2,712,252	3,144,064
Cost of raw materials and purchased methanol	1,705,387	2,169,027
Ocean freight and other logistics	328,635	334,650
Employee expenses, including share-based compensation	246,779	184,171
Other expenses	74,322	112,089
Cost of sales and operating expenses	2,355,123	2,799,937
Depreciation and amortization	357,129	344,127
Total expenses by nature	$ 2,712,252	$ 3,144,064

Expenses - Narrative (Details)

Expenses - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Expenses [Line Items]
Share-based compensation expense (recovery)	$ 55,253	$ (3,950)
Revenue	2,649,963	3,283,514
Atlas Methanol Company Unlimited
Expenses [Line Items]
Revenue	$ 250,996	$ 359,425

Finance costs (Details)

Finance costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Borrowing costs [abstract]
Finance costs before capitalized interest	$ 182,841,000	$ 127,282,000
Less capitalized interest	(18,004,000)	(2,856,000)
Finance costs	164,837,000	124,426,000
Disclosure of detailed information about borrowings [line items]
Long-term debt	2,363,372,000	$ 1,768,853,000
Unsecured notes due March 2020
Disclosure of detailed information about borrowings [line items]
Make-whole interest charge on borrowings	15,400,000
Long-term debt	$ 250,000,000

Net income (loss) per common _3

Net income (loss) per common share - Reconciliation of numerator used for calculation of diluted net income per common share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Numerator for basic net income (loss) per common share	$ (156,678)	$ 87,767
Adjustment for the effect of TSARs:
Cash-settled recovery included in net income	0	(5,433)
Equity-settled expense	0	(4,807)
Numerator for diluted net income (loss) per common share	$ (156,678)	$ 77,527

Net income (loss) per common _4

Net income (loss) per common share - Reconciliation of denominator used for calculation of basic and diluted net income per common share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Denominator for basic net income (loss) per common share (in shares)	76,196,395	76,592,413
Effect of dilutive stock options (in shares)	0	17,325
Effect of dilutive TSARS (in shares)	0	82,756
Denominator for diluted net income (loss) per common share (in shares)	76,196,395	76,692,494

Net income (loss) per common _5

Net income (loss) per common share - Basic and diluted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Basic net income (loss) per common share (in usd per share)	$ (2.06)	$ 1.15
Diluted net income (loss) per common share (in usd per share)	$ (2.06)	$ 1.01

Share-based compensation - Narr

Share-based compensation - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)performanceFactorshares	Dec. 31, 2019USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares reserved for future grants of stock options and share appreciation rights (in shares) | shares	3,654,046
Liabilities from share-based payment transactions	$ 71,913	$ 18,382
SARs and TSARs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Maximum term	7 years
Vesting rate	33.33%
Fair value of share-based payment transactions	$ 44,600
Liabilities from share-based payment transactions	40,400
Intrinsic value of liabilities from share-based payment transactions	$ 4,200
Weighted average remaining vesting period	1 year 8 months 12 days
Expense from share-based payment transactions with employees	$ 33,100	8,700
Expense from share-based payment transactions with employees, effect of change in share price	$ 27,200	13,700
Performance Share Units (PSU) New Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Maximum term	3 years
Number of performance factors | performanceFactor	2
Deferred, Restricted and Performance Share Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value of share-based payment transactions	$ 46,900
Liabilities from share-based payment transactions	31,500
Intrinsic value of liabilities from share-based payment transactions	$ 15,400
Weighted average remaining vesting period	1 year 8 months 12 days
Expense from share-based payment transactions with employees	$ 22,000	4,500
Expense from share-based payment transactions with employees, effect of change in share price	$ 11,400	4,900
Stock Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Maximum term	7 years
Vesting rate	33.33%
Expense from share-based payment transactions with employees	$ 100	$ 200
Bottom of range | Performance Share Units (PSU) New Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation arrangement vesting rights, percentage	0.00%
Top of range | Performance Share Units (PSU) New Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation arrangement vesting rights, percentage	200.00%

Share-based compensation - Chan

Share-based compensation - Changes in SARs and TSARs (Details)	12 Months Ended
	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares
SARs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of outstanding units, beginning of period (in shares) | shares	857,407	896,883
Number of outstanding units granted (in shares) | shares	96,160	29,320
Number of outstanding units exercised (in shares) | shares	(20,635)	(39,662)
Number of outstanding units cancelled (in shares) | shares	(31,660)	(29,134)
Number of outstanding units expired (in shares) | shares	(60,500)
Number of outstanding units, end of period (in shares) | shares	840,772	857,407
Exercise price of outstanding units, beginning of period (in usd per unit) | $ / shares	$ 52.02	$ 51.27
Exercise price of outstanding units granted (in usd per unit) | $ / shares	29.27	57.60
Exercise price of outstanding units exercised (in usd per unit) | $ / shares	34.59	37.25
Exercise price of outstanding units cancelled (in usd per unit) | $ / shares	58.13	54.72
Exercise price of outstanding units expired (in usd per unit) | $ / shares	38.24
Exercise price of outstanding units, end of period (in usd per unit) | $ / shares	$ 50.61	$ 52.02
TSARs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of outstanding units, beginning of period (in shares) | shares	1,661,327	1,447,301
Number of outstanding units granted (in shares) | shares	761,050	294,680
Number of outstanding units exercised (in shares) | shares	(1,900)	(45,769)
Number of outstanding units cancelled (in shares) | shares	(5,967)	(34,885)
Number of outstanding units expired (in shares) | shares	(74,020)
Number of outstanding units, end of period (in shares) | shares	2,340,490	1,661,327
Exercise price of outstanding units, beginning of period (in usd per unit) | $ / shares	$ 52.55	$ 51.24
Exercise price of outstanding units granted (in usd per unit) | $ / shares	29.27	56.70
Exercise price of outstanding units exercised (in usd per unit) | $ / shares	34.59	37.08
Exercise price of outstanding units cancelled (in usd per unit) | $ / shares	58.38	53.38
Exercise price of outstanding units expired (in usd per unit) | $ / shares	38.24
Exercise price of outstanding units, end of period (in usd per unit) | $ / shares	$ 45.43	$ 52.55

Share-based compensation - Rang

Share-based compensation - Range of exercise prices in SARs and TSARs (Details)	12 Months Ended
	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares
SARs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	2 years 7 months 2 days
Number of units outstanding (in shares) | shares	840,772	857,407	896,883
Weighted average exercise price of units outstanding (in usd per unit)	$ 50.61	$ 52.02	$ 51.27
Number of units exercisable (in shares) | shares	687,211
Weighted average exercise price of units exercisable (in usd per unit)	$ 53.16
SARs | $29.27 to $35.51
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	3 years 7 months 13 days
Number of units outstanding (in shares) | shares	260,071
Weighted average exercise price of units outstanding (in usd per unit)	$ 32.62
Number of units exercisable (in shares) | shares	163,911
Weighted average exercise price of units exercisable (in usd per unit)	$ 34.59
SARs | $29.27 to $35.51 | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	29.27
SARs | $29.27 to $35.51 | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	$ 35.51
SARs | $45.40 to $50.17
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	3 years 1 month 9 days
Number of units outstanding (in shares) | shares	125,784
Weighted average exercise price of units outstanding (in usd per unit)	$ 50.15
Number of units exercisable (in shares) | shares	125,784
Weighted average exercise price of units exercisable (in usd per unit)	$ 50.15
SARs | $45.40 to $50.17 | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	45.40
SARs | $45.40 to $50.17 | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	$ 50.17
SARs | $54.65 to $78.59
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	1 year 10 months 9 days
Number of units outstanding (in shares) | shares	454,917
Weighted average exercise price of units outstanding (in usd per unit)	$ 61.01
Number of units exercisable (in shares) | shares	397,516
Weighted average exercise price of units exercisable (in usd per unit)	$ 61.77
SARs | $54.65 to $78.59 | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	54.65
SARs | $54.65 to $78.59 | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	$ 78.59
TSARs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	3 years 11 months 26 days
Number of units outstanding (in shares) | shares	2,340,490	1,661,327	1,447,301
Weighted average exercise price of units outstanding (in usd per unit)	$ 45.43	$ 52.55	$ 51.24
Number of units exercisable (in shares) | shares	1,278,481
Weighted average exercise price of units exercisable (in usd per unit)	$ 52.51
TSARs | $29.27 to $35.51
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	5 years 7 days
Number of units outstanding (in shares) | shares	1,067,987
Weighted average exercise price of units outstanding (in usd per unit)	$ 30.80
Number of units exercisable (in shares) | shares	306,937
Weighted average exercise price of units exercisable (in usd per unit)	$ 34.59
TSARs | $29.27 to $35.51 | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	29.27
TSARs | $29.27 to $35.51 | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	$ 35.51
TSARs | $45.40 to $50.17
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	3 years 3 months 29 days
Number of units outstanding (in shares) | shares	311,184
Weighted average exercise price of units outstanding (in usd per unit)	$ 49.84
Number of units exercisable (in shares) | shares	296,637
Weighted average exercise price of units exercisable (in usd per unit)	$ 50.05
TSARs | $45.40 to $50.17 | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	45.40
TSARs | $45.40 to $50.17 | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	$ 50.17
TSARs | $54.65 to $78.59
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (years)	3 years 21 days
Number of units outstanding (in shares) | shares	961,319
Weighted average exercise price of units outstanding (in usd per unit)	$ 60.27
Number of units exercisable (in shares) | shares	674,907
Weighted average exercise price of units exercisable (in usd per unit)	$ 61.74
TSARs | $54.65 to $78.59 | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	54.65
TSARs | $54.65 to $78.59 | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of units outstanding (in usd per unit)	$ 78.59

Share-based compensation - Weig

Share-based compensation - Weighted average assumptions (Details) - SARs and TSARs	12 Months Ended
	Dec. 31, 2020USD ($)year	Dec. 31, 2019USD ($)year
Disclosure of terms and conditions of share-based payment arrangement [line items]
Risk-free interest rate	0.10%	1.60%
Expected dividend yield	0.30%	3.70%
Expected life of SARs and TSARs (years) | year	1.6	1.2
Expected volatility	60.00%	38.00%
Expected forfeitures	0.00%	0.10%
Weighted average fair value (USD per share) | $	$ 13.36	$ 3.03

Share-based compensation - Ch_2

Share-based compensation - Changes in other equity instruments (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Deferred share units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of outstanding units, beginning of period (in shares)	89,766	209,092
Number of outstanding units granted (in shares)	29,393	14,158
Number of outstanding units performance factor impact on redemption (in shares)	0	0
Number of outstanding units granted in lieu of dividends (in shares)	3,788	4,031
Number of outstanding units redeemed (in shares)	0	(137,515)
Number of outstanding units cancelled (in shares)	0	0
Number of outstanding units, end of period (in shares)	122,947	89,766
Restricted share units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of outstanding units, beginning of period (in shares)	83,168	17,361
Number of outstanding units granted (in shares)	154,460	79,240
Number of outstanding units performance factor impact on redemption (in shares)	0	0
Number of outstanding units granted in lieu of dividends (in shares)	7,326	2,840
Number of outstanding units redeemed (in shares)	(7,713)	(15,428)
Number of outstanding units cancelled (in shares)	(8,369)	(845)
Number of outstanding units, end of period (in shares)	228,872	83,168
Performance share units (PSU) Old Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of outstanding units, beginning of period (in shares)	303,445	579,778
Number of outstanding units granted (in shares)	0	0
Number of outstanding units performance factor impact on redemption (in shares)	(117,674)	132,215
Number of outstanding units granted in lieu of dividends (in shares)	4,529	9,909
Number of outstanding units redeemed (in shares)	(39,612)	(396,635)
Number of outstanding units cancelled (in shares)	(3,887)	(21,822)
Number of outstanding units, end of period (in shares)	146,801	303,445
Performance Share Units (PSU) New Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of outstanding units, beginning of period (in shares)	138,038	0
Number of outstanding units granted (in shares)	301,090	134,930
Number of outstanding units performance factor impact on redemption (in shares)	0	0
Number of outstanding units granted in lieu of dividends (in shares)	13,597	4,464
Number of outstanding units redeemed (in shares)	(1,842)	0
Number of outstanding units cancelled (in shares)	(7,713)	(1,356)
Number of outstanding units, end of period (in shares)	443,170	138,038

Share-based compensation - Ch_3

Share-based compensation - Changes in stock options (Details)	12 Months Ended
	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares
Share-Based Payment Arrangements [Abstract]
Number of stock options outstanding, beginning of period (in shares) | shares	200,631	198,221
Number of stock options granted (in shares) | shares	15,440	7,410
Number of stock options exercised (in shares) | shares	(5,900)	(2,700)
Number of stock options cancelled (in shares) | shares	(5,600)	(2,300)
Number of stock options expired (in shares) | shares	(31,320)
Number of stock options outstanding, end of period (in shares) | shares	173,251	200,631
Weighted average exercise price of stock options outstanding, beginning of period (in usd per option) | $ / shares	$ 49.07	$ 48.55
Weighted average exercise price of stock options granted (in usd per option) | $ / shares	29.27	57.60
Weighted average exercise price (in usd per option) | $ / shares	34.59	31.73
Weighted average exercise price of stock options cancelled (in usd per option) | $ / shares	58.96	52.31
Weighted average exercise price of stock options expired (in usd per option) | $ / shares	38.24
Weighted average exercise price of stock options outstanding, end of period (in usd per option) | $ / shares	$ 49.44	$ 49.07

Share-based compensation - Ra_2

Share-based compensation - Range of exercise prices in stock options (Details)	12 Months Ended
	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Weighted average remaining contractual life (years)	2 years 6 months 10 days
Number of stock options outstanding (in shares) | shares	173,251	200,631	198,221
Weighted average exercise price (in usd per option)	$ 49.44	$ 49.07	$ 48.55
Number of stock options exercisable (in shares) | shares	146,303
Weighted average exercise price, exercisable options (in usd per option)	$ 51.06
$29.27 to $35.51
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Weighted average remaining contractual life (years)	3 years 1 month 20 days
Number of stock options outstanding (in shares) | shares	63,307
Weighted average exercise price (in usd per option)	$ 33.29
Number of stock options exercisable (in shares) | shares	47,867
Weighted average exercise price, exercisable options (in usd per option)	$ 34.59
$29.27 to $35.51 | Bottom of range
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of outstanding share options (usd per share)	29.27
$29.27 to $35.51 | Top of range
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of outstanding share options (usd per share)	$ 35.51
$45.40 to $50.17
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Weighted average remaining contractual life (years)	3 years 2 months 1 day
Number of stock options outstanding (in shares) | shares	24,034
Weighted average exercise price (in usd per option)	$ 50.17
Number of stock options exercisable (in shares) | shares	24,034
Weighted average exercise price, exercisable options (in usd per option)	$ 50.17
$45.40 to $50.17 | Bottom of range
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of outstanding share options (usd per share)	45.40
$45.40 to $50.17 | Top of range
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of outstanding share options (usd per share)	$ 50.17
$54.65 to $78.59
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Weighted average remaining contractual life (years)	1 year 10 months 20 days
Number of stock options outstanding (in shares) | shares	85,910
Weighted average exercise price (in usd per option)	$ 61.13
Number of stock options exercisable (in shares) | shares	74,402
Weighted average exercise price, exercisable options (in usd per option)	$ 61.94
$54.65 to $78.59 | Bottom of range
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of outstanding share options (usd per share)	54.65
$54.65 to $78.59 | Top of range
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of outstanding share options (usd per share)	$ 78.59

Segmented information - Revenue

Segmented information - Revenue attributed to geographic location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of geographical areas [line items]
Revenue	$ 2,649,963	$ 3,283,514
Percentage of sales	100.00%	100.00%
China
Disclosure of geographical areas [line items]
Revenue	$ 828,277	$ 998,302
Percentage of sales	31.00%	30.00%
Europe
Disclosure of geographical areas [line items]
Revenue	$ 488,955	$ 634,647
Percentage of sales	18.00%	19.00%
United States
Disclosure of geographical areas [line items]
Revenue	$ 419,461	$ 581,631
Percentage of sales	16.00%	18.00%
South Korea
Disclosure of geographical areas [line items]
Revenue	$ 284,461	$ 320,394
Percentage of sales	12.00%	11.00%
South America
Disclosure of geographical areas [line items]
Revenue	$ 269,853	$ 307,706
Percentage of sales	10.00%	9.00%
Canada
Disclosure of geographical areas [line items]
Revenue	$ 117,480	$ 145,386
Percentage of sales	4.00%	4.00%
Other Asia
Disclosure of geographical areas [line items]
Revenue	$ 241,476	$ 295,448
Percentage of sales	9.00%	9.00%

Segmented information - Propert

Segmented information - Property, plant and equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of geographical areas [line items]
Property, plant and equipment	$ 3,677,056	$ 3,576,195
United States
Disclosure of geographical areas [line items]
Property, plant and equipment	1,727,982	1,548,165
Egypt
Disclosure of geographical areas [line items]
Property, plant and equipment	617,017	657,961
New Zealand
Disclosure of geographical areas [line items]
Property, plant and equipment	241,581	282,493
Trinidad
Disclosure of geographical areas [line items]
Property, plant and equipment	120,130	146,273
Canada
Disclosure of geographical areas [line items]
Property, plant and equipment	191,010	127,075
Chile
Disclosure of geographical areas [line items]
Property, plant and equipment	124,271	145,892
Waterfront Shipping
Disclosure of geographical areas [line items]
Property, plant and equipment	610,843	602,344
Other
Disclosure of geographical areas [line items]
Property, plant and equipment	$ 44,222	$ 65,992

Income and other taxes - Income

Income and other taxes - Income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current tax recovery (expense):
Current period before undernoted items	$ (27,759)	$ (38,953)
Adjustments to prior years	2,563	144
Current tax recovery (expense)	(25,196)	(38,809)
Deferred tax recovery (expense):
Origination and reversal of temporary differences	89,301	31,389
Adjustments to prior years	(1,067)	(138)
Changes in tax rates	(5,031)	2,141
Other	4,098	943
Deferred tax recovery (expense)	87,301	34,335
Tax (expense) recovery	$ 62,105	$ (4,474)

Income and other taxes - Reconc

Income and other taxes - Reconciliation of effective tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Income (loss) before income taxes	$ (187,432)	$ 120,840
Deduct earnings of associate	(29,577)	(52,218)
Income (loss) before income taxes after deduction of earnings of associate	$ (217,009)	$ 68,622
Canadian statutory tax rate	25.60%	26.80%
Income tax recovery (expense) calculated at Canadian statutory tax rate	$ 55,554	$ (18,411)
Decrease (increase) in income tax expense resulting from:
Impact of income and losses taxed in foreign jurisdictions	3,771	7,001
Utilization of unrecognised loss carryforwards and temporary differences	7,013	6,945
Impact of tax rate changes	(5,031)	2,141
Impact of foreign exchange	3,748	(484)
Other business taxes	(3,081)	(2,798)
Impact of recovery items (expenses) not taxable (deductible) for tax purposes	(5,461)	1,826
Adjustments to prior years	1,496	6
Other	4,096	(700)
Tax (expense) recovery	$ 62,105	$ (4,474)

Income and other taxes - Net de

Income and other taxes - Net deferred income tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	$ (75,868)	$ (161,206)	$ (217,153)
Deferred tax assets	137,524	111,614	60,065
Deferred tax liabilities	(213,392)	(272,820)	$ (277,218)
Property, plant and equipment (owned)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	(448,533)	(447,077)
Deferred tax assets	(262,020)	(250,890)
Deferred tax liabilities	(186,513)	(196,187)
Right-of-use assets
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	(43,386)	(45,501)
Deferred tax assets	(35,297)	(26,725)
Deferred tax liabilities	(8,089)	(18,776)
Repatriation taxes
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	(102,370)	(93,363)
Deferred tax assets	0	0
Deferred tax liabilities	(102,370)	(93,363)
Other
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	(15,205)	(10,424)
Deferred tax assets	0	(48)
Deferred tax liabilities	(15,205)	(10,376)
Temporary differences including temporary differences with liability balances
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	(609,494)	(596,365)
Deferred tax assets	(297,317)	(277,663)
Deferred tax liabilities	(312,177)	(318,702)
Non-capital loss carryforwards
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	391,132	286,004
Deferred tax assets	339,396	286,004
Deferred tax liabilities	51,736	0
Lease obligations
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	56,894	56,802
Deferred tax assets	44,455	33,979
Deferred tax liabilities	12,439	22,823
Share-based compensation
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	14,669	3,075
Deferred tax assets	1,758	0
Deferred tax liabilities	12,911	3,075
Other
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	70,931	89,278
Deferred tax assets	49,232	69,294
Deferred tax liabilities	21,699	19,984
Temporary differences including temporary differences with asset balances
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net	533,626	435,159
Deferred tax assets	434,841	389,277
Deferred tax liabilities	$ 98,785	$ 45,882

Income and other taxes - Unused

Income and other taxes - Unused tax losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax effect	$ (7,013)	$ (6,945)
Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	1,424,583
Tax effect	327,654
Expire | Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	1,052,399
Tax effect	242,052
Losses generated in 2014 (expires 2034) | Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	33,252
Tax effect	7,648
Losses generated in 2015 (expires 2035) | Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	351,625
Tax effect	80,874
Losses generated in 2016 (expires 2036) | Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	432,581
Tax effect	99,494
Losses generated in 2017 (expires 2037) | Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	234,941
Tax effect	54,036
Losses generated in 2019 | Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	232,163
Tax effect	53,397
Losses generated in 2020 | Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Gross amount	140,021
Tax effect	$ 32,205

Income and other taxes - Narrat

Income and other taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
United States
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deductible temporary differences for which no deferred tax asset is recognised	$ 292	$ 323

Income and other taxes - Change

Income and other taxes - Change in deferred income tax liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net
Net, beginning of period	$ (161,206)	$ (217,153)
Deferred income tax recovery included in net income	87,301	34,335
Deferred income tax recovery (expense) included in other comprehensive income	(2,325)	22,049
Other	362	(437)
Net, end of period	(75,868)	(161,206)
Deferred tax assets
Deferred tax assets, beginning of period	111,614	60,065
Deferred income tax recovery included in net income	28,243	28,875
Deferred income tax recovery (expense) included in other comprehensive income	(2,333)	21,871
Other	0	803
Deferred tax assets, end of period	137,524	111,614
Deferred tax liabilities
Deferred tax liabilities, beginning of period	(272,820)	(277,218)
Deferred income tax recovery included in net income	59,058	5,460
Deferred income tax recovery (expense) included in other comprehensive income	8	178
Other	362	(1,240)
Deferred tax liabilities, end of period	(213,392)	(272,820)
Previously stated
Net
Net, beginning of period	(161,206)	(221,682)
Net, end of period		(161,206)
Deferred tax assets
Deferred tax assets, beginning of period	111,614	59,532
Deferred tax assets, end of period		111,614
Deferred tax liabilities
Deferred tax liabilities, beginning of period	(272,820)	(281,214)
Deferred tax liabilities, end of period		(272,820)
Adjustment on adoption of IFRS 16
Net
Net, beginning of period	0	4,529
Net, end of period		0
Deferred tax assets
Deferred tax assets, beginning of period	0	533
Deferred tax assets, end of period		0
Deferred tax liabilities
Deferred tax liabilities, beginning of period	$ 0	3,996
Deferred tax liabilities, end of period		$ 0

Supplemental cash flow inform_3

Supplemental cash flow information - Changes in Non-cash Working Capital (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Changes in non-cash working capital:
Trade and other receivables	$ 76,721	$ 25,847
Inventories	(27,644)	106,907
Prepaid expenses	4,059	(5,264)
Trade, other payables and accrued liabilities, including long-term payables included in other long-term liabilities	107,199	(123,660)
Decrease (increase) in non-cash working capital	160,335	3,830
Adjustments for items not having a cash effect and working capital changes relating to taxes and interest paid	(43,259)	17,107
These changes relate to the following activities:
Operating	64,923	9,426
Investing	52,153	11,511
Changes in non-cash working capital	$ 117,076	$ 20,937

Supplemental cash flow inform_4

Supplemental cash flow information - Reconciliation of Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Changes from financing cash flows
Repayment of long-term debt and financing fees	$ (295,917)	$ (388,216)
Net proceeds on issue of long-term debt	865,415	695,533
Draw on revolving credit facility	300,000	0
Repayment of revolving credit facility	(300,000)	0
Payment of lease obligations	(106,834)	(101,812)
Proceeds from limited recourse debt	12,839	0
Long term debt
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Outstanding at beginning of period	1,768,853
Changes from financing cash flows
Repayment of long-term debt and financing fees	(289,698)
Net proceeds on issue of long-term debt	865,415
Draw on revolving credit facility	300,000
Repayment of revolving credit facility	(300,000)
Payment of lease obligations	0
Proceeds from limited recourse debt	12,839
Total changes from financing cash flows	588,556
Liability-related other changes
Finance costs	2,562
New lease obligations	0
Other	3,401
Total liability-related other changes	5,963
Outstanding at end of period	2,363,372	1,768,853
Lease obligations
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Outstanding at beginning of period	718,505
Changes from financing cash flows
Repayment of long-term debt and financing fees	0
Net proceeds on issue of long-term debt	0
Draw on revolving credit facility	0
Repayment of revolving credit facility	0
Payment of lease obligations	(106,834)
Proceeds from limited recourse debt
Total changes from financing cash flows	(106,834)
Liability-related other changes
Finance costs	0
New lease obligations	108,763
Other	1,800
Total liability-related other changes	110,563
Outstanding at end of period	$ 722,234	$ 718,505

Capital disclosures (Details)

Capital disclosures (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of liquidity and capitalization [Line Items]
Cash and cash equivalents	$ 833,841,000	$ 416,763,000	$ 256,077,000
Total liquidity	1,760,841,000	1,516,763,000
Total debt	2,363,372,000	1,768,853,000
Non-controlling interests	292,357,000	298,675,000
Shareholders’ equity	1,149,100,000	1,331,685,000
Total capitalization	$ 3,804,829,000	$ 3,399,213,000
Total debt to capitalization	62.00%	52.00%
Net debt to capitalization	51.00%	45.00%
Revolving credit facility
Disclosure of liquidity and capitalization [Line Items]
Undrawn credit facilities	$ 300,000,000	$ 300,000,000
Construction facilities
Disclosure of liquidity and capitalization [Line Items]
Undrawn credit facilities	627,000,000	800,000,000
Total debt	173,000,000
G3 construction facility
Disclosure of liquidity and capitalization [Line Items]
Total debt	176,335,000	0
Unsecured notes
Disclosure of liquidity and capitalization [Line Items]
Total debt	1,979,125,000	1,535,662,000
Egypt limited recourse debt facilities
Disclosure of liquidity and capitalization [Line Items]
Total debt	$ 46,948,000	75,165,000
Ownership of subsidiary, percentage of inclusion	100.00%
Other limited recourse debt facilities
Disclosure of liquidity and capitalization [Line Items]
Total debt	$ 160,964,000	$ 158,026,000

Financial instruments - Fair va

Financial instruments - Fair value measurement (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	$ 1,285,583	$ 930,166
Financial liabilities	3,044,800	2,370,617
Trade, other payables and accrued liabilities, excluding tax payable | Financial liabilities at amortised cost, category
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	500,056	406,260
Long-term debt, including current portion | Financial liabilities at amortised cost, category
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	2,363,372	1,768,853
Cash flow hedges | Derivative instruments | Financial liabilities at fair value through other comprehensive income, category
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	181,372	195,504
Derivative instruments | Financial assets measured at fair value | Cash flow hedges
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	3,371	10
Cash and cash equivalents | Financial assets not measured at fair value
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	833,841	416,763
Trade and other receivables, excluding tax receivable | Financial assets not measured at fair value
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	406,392	473,980
Restricted cash included in other assets | Financial assets not measured at fair value
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	$ 41,979	$ 39,413

Financial instruments - Natural

Financial instruments - Natural gas forward contracts (Details) MMBTU in Thousands	12 Months Ended	36 Months Ended	48 Months Ended	108 Months Ended
	Dec. 31, 2020USD ($)$ / MMBTU	Dec. 31, 2029MMBTU	Jan. 01, 2025MMBTU	Jan. 01, 2032MMBTU	Dec. 31, 2019USD ($)$ / MMBTU
Disclosure of financial assets [line items]
Reclassification of hedge	$ 20,271,000
Accumulated other comprehensive income
Disclosure of financial assets [line items]
Reclassification of hedge	20,271,000
Natural gas forward contract
Disclosure of financial assets [line items]
Hedging instrument, energy (in mmbtu) | MMBTU		30	40	50
Hedge ineffectiveness	0
Natural gas forward contract | Cash flow hedges
Disclosure of financial assets [line items]
Notional amount	1,005,600,000				$ 969,600,000
Negative fair value	$ 177,400,000				$ 195,100,000
Natural gas forward contract | Cash flow hedges | Geismar Facility
Disclosure of financial assets [line items]
Average contract price (in usd per mmbtu) | $ / MMBTU	3.36				3.45
Natural gas forward contract | Cash flow hedges | Medicine Hat Facility
Disclosure of financial assets [line items]
Average contract price (in usd per mmbtu) | $ / MMBTU	1.96				1.96
Natural gas forward contract | Cash flow hedges | other current liabilities
Disclosure of financial assets [line items]
Negative fair value	$ 14,800,000
Natural gas forward contract | Cash flow hedges | Other non-current liabilities
Disclosure of financial assets [line items]
Negative fair value	166,000,000
Natural gas forward contract | Cash flow hedges | other current assets
Disclosure of financial assets [line items]
Positive fair value	400,000
Natural gas forward contract | Cash flow hedges | Other non-current asset
Disclosure of financial assets [line items]
Positive fair value	3,000,000
Natural gas forward contract | Accumulated other comprehensive income
Disclosure of financial assets [line items]
Reclassification of hedge	$ 20,300,000

Financial instruments - Forward

Financial instruments - Forward exchange contracts (Details) - Forward exchange contract € in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)
Disclosure of financial assets [line items]
Hedge ineffectiveness	$ 0
Cash flow hedges
Disclosure of financial assets [line items]
Notional amount | €		€ 12.2		€ 18.4
Negative fair value	$ 600,000		$ 400,000

Financial instruments - Maturit

Financial instruments - Maturity of derivative liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis for derivative financial liabilities [line items]
Derivative financial liabilities	$ 214,622	$ 244,304
Within one year
Disclosure of maturity analysis for derivative financial liabilities [line items]
Derivative financial liabilities	15,047	17,620
1-3 years
Disclosure of maturity analysis for derivative financial liabilities [line items]
Derivative financial liabilities	44,841	45,432
3-5 years
Disclosure of maturity analysis for derivative financial liabilities [line items]
Derivative financial liabilities	63,002	56,887
More than 5 years
Disclosure of maturity analysis for derivative financial liabilities [line items]
Derivative financial liabilities	$ 91,732	$ 124,365

Financial instruments - Fair _2

Financial instruments - Fair value liabilities, narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Financial assets	$ 1,285,583	$ 930,166
Financial assets measured at fair value | Derivative instruments | Cash flow hedges
Disclosure of financial assets [line items]
Financial assets	$ 3,371	$ 10

Financial instruments - Carryin

Financial instruments - Carrying values of financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of liabilities [line items]
Carrying value	$ 3,044,800	$ 2,370,617
Long-term debt excluding deferred financing fees | Level 2
Disclosure of fair value measurement of liabilities [line items]
Carrying value	2,382,699	1,786,025
Fair value	$ 2,559,771	$ 1,831,292

Financial risk management - Int

Financial risk management - Interest rate risk (Details) - Interest rate risk - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fixed interest rate
Disclosure of financial instruments by type of interest rate [line items]
Long-term debt	$ 2,140,089	$ 1,692,162
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on debt	$ 185,200	130,600
Variable interest rate
Disclosure of financial instruments by type of interest rate [line items]
Long-term debt	$ 223,283	76,691
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on pre-tax earnings	$ 2,200	800
Unsecured notes | Fixed interest rate
Disclosure of financial instruments by type of interest rate [line items]
Long-term debt	1,979,125	1,535,662
Other limited recourse debt facilities | Fixed interest rate
Disclosure of financial instruments by type of interest rate [line items]
Long-term debt	160,964	156,500
Other limited recourse debt facilities | Variable interest rate
Disclosure of financial instruments by type of interest rate [line items]
Long-term debt	0	1,526
Geismar 3 construction facility | Variable interest rate
Disclosure of financial instruments by type of interest rate [line items]
Long-term debt	176,335	0
Egypt limited recourse debt facilities | Variable interest rate
Disclosure of financial instruments by type of interest rate [line items]
Long-term debt	$ 46,948	$ 75,165

Financial risk management - For

Financial risk management - Foreign currency risk (Details) - Currency risk - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial instruments by type of interest rate [line items]
Net working capital asset	$ 123.9	$ 74.2
Reasonably possible change in risk variable, percent	10.00%
Impact on value of net working capital	$ 12.4	$ 7.4

Financial risk management - Liq

Financial risk management - Liquidity risks (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial Instruments [Abstract]
Cash and cash equivalents	$ 833,841,000	$ 416,763,000	$ 256,077,000
Disclosure of financial liabilities [line items]
Long-term debt	2,363,372,000	1,768,853,000
Carrying amount
Lease obligations	722,234,000	718,505,000	$ 652,642,000
Long-term debt	2,363,372,000	1,768,853,000
Cash flow hedges	180,798,000	195,124,000
Financial liabilities	3,044,800,000	2,370,617,000
Contractual cash flows
Cash flow hedges	214,622,000	244,304,000
1 year or less
Contractual cash flows
Cash flow hedges	15,047,000	17,620,000
1-3 years
Contractual cash flows
Cash flow hedges	44,841,000	45,432,000
3-5 years
Contractual cash flows
Cash flow hedges	63,002,000	56,887,000
More than 5 years
Contractual cash flows
Cash flow hedges	91,732,000	124,365,000
Liquidity risk
Disclosure of financial liabilities [line items]
Long-term debt	2,363,372,000
Carrying amount
Trade and other payables	485,545,000
Lease obligations	722,234,000
Long-term debt	2,363,372,000
Cash flow hedges	181,372,000
Financial liabilities	3,752,523,000
Contractual cash flows
Trade and other payables	485,545,000
Lease obligations	982,387,000
Long-term debt	3,509,538,000
Cash flow hedges	214,622,000
Financial liabilities	5,192,092,000
Liquidity risk | 1 year or less
Contractual cash flows
Trade and other payables	485,545,000
Lease obligations	142,096,000
Long-term debt	158,063,000
Cash flow hedges	15,047,000
Financial liabilities	800,751,000
Liquidity risk | 1-3 years
Contractual cash flows
Trade and other payables	0
Lease obligations	228,493,000
Long-term debt	274,599,000
Cash flow hedges	44,841,000
Financial liabilities	547,933,000
Liquidity risk | 3-5 years
Contractual cash flows
Trade and other payables	0
Lease obligations	192,342,000
Long-term debt	708,577,000
Cash flow hedges	63,002,000
Financial liabilities	963,921,000
Liquidity risk | More than 5 years
Contractual cash flows
Trade and other payables	0
Lease obligations	419,456,000
Long-term debt	2,368,299,000
Cash flow hedges	91,732,000
Financial liabilities	2,879,487,000
Revolving credit facility
Disclosure of financial liabilities [line items]
Undrawn credit facilities	300,000,000	300,000,000
Construction facilities
Disclosure of financial liabilities [line items]
Undrawn credit facilities	627,000,000	$ 800,000,000
Long-term debt	173,000,000
Carrying amount
Long-term debt	$ 173,000,000

Retirement plans - Defined bene

Retirement plans - Defined benefit pension plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of net defined benefit liability (asset) [line items]
Balance, beginning of year	$ 22,170
Current service cost	3,016	$ 2,639
Interest cost on accrued benefit obligations / (income) on assets	534	800
Balance, end of year	31,852	22,170
Unfunded status	31,852	22,170
Minimum funding requirement	0	0
Accrued benefit obligations
Disclosure of net defined benefit liability (asset) [line items]
Balance, beginning of year	66,061	60,618
Current service cost	3,016	2,639
Interest cost on accrued benefit obligations / (income) on assets	1,794	2,196
Benefit payments	(2,227)	(7,092)
Actuarial loss	7,120	8,041
Foreign exchange gain	3,046	(341)
Balance, end of year	78,810	66,061
Fair values of plan assets
Disclosure of net defined benefit liability (asset) [line items]
Balance, beginning of year	43,891	40,955
Interest cost on accrued benefit obligations / (income) on assets	1,260	1,396
Contributions	1,182	4,056
Benefit payments	(2,227)	(7,092)
Return on plan assets	1,940	2,500
Foreign exchange gain	912	2,076
Balance, end of year	$ 46,958	$ 43,891

Retirement plans - Additional i

Retirement plans - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of net defined benefit liability (asset) [line items]
Retirement obligation (asset)	$ 31,852,000	$ 22,170,000
Weighted average duration of defined benefit obligation	8 years
Unfunded | Chile
Disclosure of net defined benefit liability (asset) [line items]
Retirement obligation (asset)	$ 35,300,000	28,100,000
Estimate of contributions expected to be paid to plan for next annual reporting period	9,500,000
Funded
Disclosure of net defined benefit liability (asset) [line items]
Retirement obligation (asset)	(4,800,000)	(5,700,000)
Estimate of contributions expected to be paid to plan for next annual reporting period	0
Funded | Europe
Disclosure of net defined benefit liability (asset) [line items]
Retirement obligation (asset)	1,400,000	$ (200,000)
Estimate of contributions expected to be paid to plan for next annual reporting period	$ 500,000

Retirement plans - Expense reco

Retirement plans - Expense recognized in income statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net defined benefit pension plan expense:
Current service cost	$ 3,016	$ 2,639
Net interest cost	534	800
Net defined benefit pension plan expense	$ 3,550	$ 3,439

Retirement plans - Expense re_2

Retirement plans - Expense recognized in other comprehensive income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Employee Benefits [Abstract]
Actuarial loss	$ (5,413,000)	$ (4,479,000)
Minimum funding requirement	$ 0	$ 0

Retirement plans - Actuarial as

Retirement plans - Actuarial assumptions and sensitivity analysis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Discount rates	2.30%	3.00%
Discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ 6.9

Retirement plans - Asset alloca

Retirement plans - Asset allocation (Details)	Dec. 31, 2020	Dec. 31, 2019
Employee Benefits [Abstract]
Equity securities	18.00%	18.00%
Debt securities	57.00%	57.00%
Cash and other short-term securities	25.00%	25.00%
Total	100.00%	100.00%

Retirement plans - Defined cont

Retirement plans - Defined contribution pension plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Employee Benefits [Abstract]
Defined contribution pension plans	$ 10.3	$ 9.6

Commitments and contingencies -

Commitments and contingencies - Minimum purchase contract commitment (Details) - Take-or-pay purchase contracts $ in Thousands	Dec. 31, 2020USD ($)
2021
Disclosure of contingent liabilities [line items]
Minimum estimated commitment	$ 397,515
2022
Disclosure of contingent liabilities [line items]
Minimum estimated commitment	397,346
2023
Disclosure of contingent liabilities [line items]
Minimum estimated commitment	431,060
2024
Disclosure of contingent liabilities [line items]
Minimum estimated commitment	447,165
2025
Disclosure of contingent liabilities [line items]
Minimum estimated commitment	447,017
Thereafter
Disclosure of contingent liabilities [line items]
Minimum estimated commitment	$ 1,560,734

Commitments and contingencies_2

Commitments and contingencies - Other commitments (Details) - Contractual Obligations [Member] $ in Thousands	Dec. 31, 2020USD ($)
2021
Disclosure of other provisions [line items]
Other commitments	$ 64,768
2022
Disclosure of other provisions [line items]
Other commitments	3,304
2023
Disclosure of other provisions [line items]
Other commitments	539
2024
Disclosure of other provisions [line items]
Other commitments	539
2025
Disclosure of other provisions [line items]
Other commitments	539
Thereafter
Disclosure of other provisions [line items]
Other commitments	$ 2,571

Commitments and contingencies_3

Commitments and contingencies - Narrative (Details) - t t in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Purchase commitment of methanol supply | Within one year
Disclosure of associates [line items]
Purchase commitments (in tonnes)	1.2
Purchase commitment of methanol supply | Thereafter
Disclosure of associates [line items]
Purchase commitments (in tonnes)	1.1
Atlas Joint Venture
Disclosure of associates [line items]
Percentage of marketing rights in production	100.00%
Percentage of ownership interest in associates	63.10%	63.10%
Atlas Joint Venture | Trinidad
Disclosure of associates [line items]
Percentage of ownership interest in associates	63.10%
Atlas Joint Venture | Egypt
Disclosure of associates [line items]
Percentage of ownership interest in associates	50.00%
Atlas Plant and Egypt Plant | Purchase commitment of methanol supply
Disclosure of associates [line items]
Purchase commitments (in tonnes)	1.2

Related parties - Subsidiaries

Related parties - Subsidiaries and joint ventures (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Methanex Asia Pacific Limited
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Methanex Services (Shanghai) Co., Ltd.
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Methanex Europe NV
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Methanex Methanol Company, LLC
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Egyptian Methanex Methanol Company S.A.E. ("Methanex Egypt")
Disclosure of subsidiaries [line items]
Interest %	50.00%	50.00%
Methanex Chile SpA
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Methanex New Zealand Limited
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Methanex Trinidad (Titan) Unlimited
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Methanex USA LLC
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Methanex Louisiana LLC
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Waterfront Shipping Company Limited
Disclosure of subsidiaries [line items]
Interest %	100.00%	100.00%
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Interest %	63.10%	63.10%

Related parties - Narrative (De

Related parties - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of associates [line items]
Revenue	$ 2,649,963	$ 3,283,514
Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Percentage of marketing rights in production	100.00%
Loans outstanding from related party transactions	$ 76,322	76,322
Associates | Atlas Methanol Company Unlimited
Disclosure of associates [line items]
Revenue	251,000	359,000
Receivables from related party transactions	16,000	17,000
Payables from related party transactions	70,000	69,000
Loans outstanding from related party transactions	$ 76,000	$ 76,000

Related parties - Remuneration

Related parties - Remuneration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party [Abstract]
Short-term employee benefits	$ 6,272	$ 9,097
Post-employment benefits	944	767
Other long-term employee benefits	50	50
Share-based compensation expense	26,481	127
Total	$ 33,747	$ 10,041

Non-controlling interests - Fin

Non-controlling interests - Financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of subsidiaries [line items]
Current assets	$ 1,594,917	$ 1,232,521
Non-current assets	4,101,134	3,964,094
Current liabilities	(765,392)	(648,246)
Non-current liabilities	(3,489,202)	(2,918,009)
Carrying amount of Methanex non-controlling interests	292,357	298,675
Total
Disclosure of subsidiaries [line items]
Current assets	165,967	183,907
Non-current assets	816,020	835,743
Current liabilities	(106,867)	(96,824)
Non-current liabilities	(301,453)	(309,900)
Net assets	573,667	612,926
Carrying amount of Methanex non-controlling interests	292,357	298,675
Methanex Egypt
Disclosure of subsidiaries [line items]
Current assets	155,339	158,436
Non-current assets	618,797	653,495
Current liabilities	(87,907)	(74,498)
Non-current liabilities	(127,144)	(156,058)
Net assets	559,085	581,375
Carrying amount of Methanex non-controlling interests	272,449	278,780
Vessels
Disclosure of subsidiaries [line items]
Current assets	10,628	25,471
Non-current assets	197,223	182,248
Current liabilities	(18,960)	(22,326)
Non-current liabilities	(174,309)	(153,842)
Net assets	14,582	31,551
Carrying amount of Methanex non-controlling interests	$ 19,908	$ 19,895

Non-controlling interests - Inc

Non-controlling interests - Income statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of subsidiaries [line items]
Revenue	$ 2,649,963	$ 3,283,514
Net and total comprehensive income	(125,327)	116,366
Distributions paid and accrued to non-controlling interests	(34,658)	(23,613)
Methanex Egypt
Disclosure of subsidiaries [line items]
Revenue	192,575	171,532
Net and total comprehensive income	18,566	4,182
Net and total comprehensive income attributable to Methanex non-controlling interests	26,578	24,697
Equity contributions by non-controlling interests	0	0
Acquisition of non-controlling interests	0	0
Impact of adoption of IFRS 16	0	(3,355)
Distributions paid and accrued to non-controlling interests	(32,909)	(17,865)
Vessels
Disclosure of subsidiaries [line items]
Revenue	40,118	36,500
Net and total comprehensive income	9,474	7,834
Net and total comprehensive income attributable to Methanex non-controlling interests	4,773	3,902
Equity contributions by non-controlling interests	5,500	0
Acquisition of non-controlling interests	(6,714)	(2,219)
Impact of adoption of IFRS 16	0	0
Distributions paid and accrued to non-controlling interests	(3,546)	(3,113)
Total
Disclosure of subsidiaries [line items]
Revenue	232,693	208,032
Net and total comprehensive income	28,040	12,016
Net and total comprehensive income attributable to Methanex non-controlling interests	31,351	28,599
Equity contributions by non-controlling interests	5,500	0
Acquisition of non-controlling interests	(6,714)	(2,219)
Impact of adoption of IFRS 16	0	(3,355)
Distributions paid and accrued to non-controlling interests	$ (36,455)	$ (20,978)

Non-controlling interests - Cas

Non-controlling interests - Cash flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of subsidiaries [line items]
Cash flows from (used in) operating activities	$ 461,082	$ 515,431
Cash flows from (used in) financing activities	234,059	(104,053)
Cash flows from (used in) investing activities	(278,063)	(250,692)
Methanex Egypt
Disclosure of subsidiaries [line items]
Cash flows from (used in) operating activities	145,672	68,022
Cash flows from (used in) financing activities	(96,052)	(74,675)
Cash flows from (used in) investing activities	(5,309)	(8,859)
Vessels
Disclosure of subsidiaries [line items]
Cash flows from (used in) operating activities	24,951	24,267
Cash flows from (used in) financing activities	(17,344)	(21,606)
Cash flows from (used in) investing activities	(7,788)	(3,723)
Total
Disclosure of subsidiaries [line items]
Cash flows from (used in) operating activities	170,623	92,289
Cash flows from (used in) financing activities	(113,396)	(96,281)
Cash flows from (used in) investing activities	$ (13,097)	$ (12,582)