METHANEX CORP
For the period ended Jun 30, 2026. Filed Jul 28, 2026.
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Jun 30, 2026 · Filed Jul 28, 2026
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Fair value - Level 2 instruments
The fair value of the Company’s North American natural gas forward contracts and Euro forward exchange contracts are derivative financial instruments determined based on Bloomberg quoted market prices and confirmations received from counterparties, which are adjusted for credit risk.
The table below shows the nominal net cash flows for derivative hedging instruments, 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 are held with investment-grade counterparties and therefore the settlement day risk exposure is considered to be minimal.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) PAGE 12
| Cash inflows (outflows) by term to maturity - undiscounted | ||||||
|---|---|---|---|---|---|---|
| Carrying amount | Contractual cash flows | 1 year or less | 1-3 years | 3-5 years | More than5 years | |
| Natural gas forward contracts assets | $79,663 | $88,078 | $22,016 | $41,058 | $15,549 | $9,455 |
| Natural gas forward contracts liabilities | (53,493) | (64,278) | (18,908) | (10,349) | (8,749) | (26,272) |
| Euro forward exchange contracts | 1,301 | 1,301 | 1,301 | — | — | — |
| $27,471 | $25,101 | $4,409 | $30,709 | $6,800 | $(16,817) | |
The carrying values of the Company’s financial instruments approximate their fair values, except as follows:
| June 30, 2026 | December 31, 2025 | |||
|---|---|---|---|---|
| As at | Carrying Value | Fair Value | Carrying Value | Fair Value |
| Long-term debt excluding deferred financing fees | $2,417,722 | $2,400,578 | $2,774,163 | $2,775,744 |
Long-term debt consists of limited recourse debt facilities and unsecured notes. There is no publicly traded market for the limited recourse debt facilities. The fair value of the limited recourse debt facilities as disclosed on a recurring basis and categorized as Level 2 within the fair value hierarchy is estimated by reference to current market rates as at the reporting date. The fair value of the unsecured notes disclosed on a recurring basis and also categorized as Level 2 within the fair value hierarchy is estimated using quoted prices and yields as at the reporting date. The fair value of the Company’s long term debt will fluctuate until maturity.
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