Exhibit 99.3

 

Cameco Corporation

2021 condensed consolidated interim financial statements

(unaudited)

October 28, 2021

Cameco Corporation

Consolidated statements of earnings

 

(Unaudited)						Three months ended								Nine months ended
($Cdn thousands, except per share amounts)		Note				Sep 30/21				Sep 30/20				Sep 30/21				Sep 30/20
Revenue from products and services			10			$	361,216			$	378,870			$	1,010,437			$	1,249,717
Cost of products and services sold							336,557				372,862				924,437				1,118,724
Depreciation and amortization							50,774				29,654				139,910				133,276
Cost of sales			18				387,331				402,516				1,064,347				1,252,000
Gross loss							(26,115	)			(23,646	)			(53,910	)			(2,283	)
Administration							39,522				30,414				90,484				100,073
Exploration							2,799				1,914				5,853				8,312
Research and development							1,794				493				5,385				1,668
Other operating expense (income)			8				(2,163	)			6,861				(18,370	)			23,762
Loss (gain) on disposal of assets							(3,214	)			558				(3,217	)			509
Loss from operations							(64,853	)			(63,886	)			(134,045	)			(136,607	)
Finance costs			11				(18,933	)			(16,866	)			(56,581	)			(52,778	)
Gain (loss) on derivatives			17				(16,344	)			20,730				6,917				(4,880	)
Finance income							1,635				1,327				5,410				9,479
Share of earnings from equity-accounted investee			6				11,130				3,196				33,332				17,815
Other income (expense)			12				12,765				(10,750	)			21,640				20,878
Loss before income taxes							(74,600	)			(66,249	)			(123,327	)			(146,093	)
Income tax recovery			13				(2,477	)			(5,477	)			(9,478	)			(13,077	)
Net loss							(72,123	)			(60,772	)			(113,849	)			(133,016	)
Net loss attributable to:
Equity holders						$	(72,116	)		$	(60,770	)		$	(113,804	)		$	(132,996	)
Non-controlling interest							(7	)			(2	)			(45	)			(20	)
Net loss						$	(72,123	)		$	(60,772	)		$	(113,849	)		$	(133,016	)
Loss per common share attributable to equity holders:
Basic			14			$	(0.18	)		$	(0.15	)		$	(0.29	)		$	(0.34	)
Diluted			14			$	(0.18	)		$	(0.15	)		$	(0.29	)		$	(0.34	)

See accompanying notes to condensed consolidated interim financial statements.

 

2

Cameco Corporation

Consolidated statements of comprehensive earnings

 

(Unaudited)		Three months ended								Nine months ended
($Cdn thousands)		Sep 30/21				Sep 30/20				Sep 30/21				Sep 30/20
Net loss		$	(72,123	)		$	(60,772	)		$	(113,849	)		$	(133,016	)
Other comprehensive income (loss), net of taxes
Items that will not be reclassified to net earnings:
Equity investments at FVOCI—net change in fair value1			(150	)			3,952				22,059				2,537
Items that are or may be reclassified to net earnings:
Exchange differences on translation of foreign operations			(11,769	)			11,803				(29,681	)			6,734
Other comprehensive income (loss), net of taxes			(11,919	)			15,755				(7,622	)			9,271
Total comprehensive loss		$	(84,042	)		$	(45,017	)			(121,471	)			(123,745	)
Other comprehensive income (loss) attributable to:
Equity holders		$	(11,923	)		$	15,750			$	(7,621	)		$	9,266
Non-controlling interest			4				5				(1	)			5
Other comprehensive income (loss)		$	(11,919	)		$	15,755			$	(7,622	)		$	9,271
Total comprehensive income (loss) attributable to:
Equity holders		$	(84,039	)		$	(45,020	)		$	(121,425	)		$	(123,730	)
Non-controlling interest			(3	)			3				(46	)			(15	)
Total comprehensive loss		$	(84,042	)		$	(45,017	)		$	(121,471	)		$	(123,745	)

 

1	Net of tax (Q3 2021—$0; Q3 2020—$(638); 2021—$(3,267); 2020—$(441))

See accompanying notes to condensed consolidated interim financial statements.

 

3

Cameco Corporation

Consolidated statements of financial position

 

(Unaudited)						As at
($Cdn thousands)		Note				Sep 30/21				Dec 31/20
Assets
Current assets
Cash and cash equivalents						$	1,214,768			$	918,382
Short-term investments							144,904				24,985
Accounts receivable							143,991				204,980
Current tax assets							7,727				8,184
Inventories			4				437,468				680,369
Supplies and prepaid expenses							92,596				89,428
Current portion of long-term receivables, investments and other			5				21,217				18,716
Total current assets							2,062,671				1,945,044
Property, plant and equipment							3,564,583				3,771,557
Intangible assets							52,142				55,822
Long-term receivables, investments and other			5				584,484				652,042
Investment in equity-accounted investee			6				200,466				219,688
Deferred tax assets							945,351				936,678
Total non-current assets							5,347,026				5,635,787
Total assets						$	7,409,697			$	7,580,831
Liabilities and shareholders’ equity
Current liabilities
Accounts payable and accrued liabilities							270,652				233,649
Current tax liabilities							3,646				1,480
Current portion of other liabilities			7				11,856				26,119
Current portion of provisions			8				39,009				42,535
Total current liabilities							325,163				303,783
Long-term debt							996,070				995,541
Other liabilities			7				190,761				166,559
Provisions			8				1,038,000				1,156,387
Total non-current liabilities							2,224,831				2,318,487
Shareholders’ equity
Share capital			9				1,900,189				1,869,710
Contributed surplus							229,488				237,358
Retained earnings							2,656,369				2,735,830
Other components of equity							73,497				115,457
Total shareholders’ equity attributable to equity holders							4,859,543				4,958,355
Non-controlling interest							160				206
Total shareholders’ equity							4,859,703				4,958,561
Total liabilities and shareholders’ equity						$	7,409,697			$	7,580,831

Commitments and contingencies [notes 8, 13]

See accompanying notes to condensed consolidated interim financial statements.

 

4

Cameco Corporation

Consolidated statements of changes in equity

 

		Attributable to equity holders
		Share capital				Contributed surplus				Retained earnings				Foreign currency translation				Equity investments at FVOCI				Total				Non- controlling interest				Total equity
(Unaudited)
($Cdn thousands)
Balance at January 1, 2021		$	1,869,710			$	237,358			$	2,735,830			$	103,925			$	11,532			$	4,958,355			$	206			$	4,958,561
Net loss			—				—				(113,804	)			—				—				(113,804	)			(45	)			(113,849	)
Other comprehensive income (loss)			—				—				—				(29,680	)			22,059				(7,621	)			(1	)			(7,622	)
Total comprehensive income (loss) for the period			—				—				(113,804	)			(29,680	)			22,059				(121,425	)			(46	)			(121,471	)
Share-based compensation			—				3,366				—				—				—				3,366				—				3,366
Stock options exercised			30,479				(6,257	)			—				—				—				24,222				—				24,222
Restricted share units released			—				(4,979	)			—				—				—				(4,979	)			—				(4,979	)
Dividends			—				—				4				—				—				4				—				4
Transfer to retained earnings [note 17]			—				—				34,339				—				(34,339	)			—				—				—
Balance at September 30, 2021		$	1,900,189			$	229,488			$	2,656,369			$	74,245			$	(748	)		$	4,859,543			$	160			$	4,859,703
Balance at January 1, 2020		$	1,862,749			$	234,681			$	2,825,596			$	77,114			$	(5,415	)		$	4,994,725			$	238			$	4,994,963
Net loss			—				—				(132,996	)			—				—				(132,996	)			(20	)			(133,016	)
Other comprehensive income			—				—				—				6,729				2,537				9,266				5				9,271
Total comprehensive income (loss) for the period			—				—				(132,996	)			6,729				2,537				(123,730	)			(15	)			(123,745	)
Share-based compensation			—				5,037				—				—				—				5,037				—				5,037
Stock options exercised			714				(165	)			—				—				—				549				—				549
Restricted share units released			—				(2,301	)			—				—				—				(2,301	)			—				(2,301	)
Dividends			—				—				30				—				—				30				—				30
Balance at September 30, 2020		$	1,863,463			$	237,252			$	2,692,630			$	83,843			$	(2,878	)		$	4,874,310			$	223			$	4,874,533

See accompanying notes to condensed consolidated interim financial statements.

 

5

Cameco Corporation

Consolidated statements of cash flows

 

(Unaudited)						Three months ended								Nine months ended
($Cdn thousands)		Note				Sep 30/21				Sep 30/20				Sep 30/21				Sep 30/20
Operating activities
Net loss						$	(72,123	)		$	(60,772	)		$	(113,849	)		$	(133,016	)
Adjustments for:
Depreciation and amortization							50,774				29,654				139,910				133,276
Deferred charges							3,871				(1,155	)			4,838				(2,112	)
Unrealized loss (gain) on derivatives							26,440				(30,642	)			8,172				(7,372	)
Share-based compensation			16				1,137				1,441				3,366				5,037
Loss (gain) on disposal of assets							(3,214	)			558				(3,217	)			509
Finance costs			11				18,933				16,866				56,581				52,778
Finance income							(1,635	)			(1,327	)			(5,410	)			(9,479	)
Share of earnings in equity-accounted investee							(11,130	)			(3,196	)			(33,332	)			(17,815	)
Other operating expense (income)			8				(2,163	)			6,861				(18,370	)			23,762
Other expense (income)			12				(12,725	)			10,749				(431	)			(20,675	)
Income tax recovery			13				(2,477	)			(5,477	)			(9,478	)			(13,077	)
Interest received							2,524				1,128				7,987				8,858
Income taxes received (paid)							7,532				1,966				8,151				(3,699	)
Dividends from equity-accounted investee							—				14,124				50,128				43,961
Other operating items			15				196,937				(46,907	)			304,314				(261,306	)
Net cash provided by (used in) operations							202,681				(66,129	)			399,360				(200,370	)
Investing activities
Additions to property, plant and equipment							(30,910	)			(16,384	)			(61,323	)			(49,461	)
Increase in short-term investments							(26,985	)			(5,002	)			(119,919	)			(19,988	)
Decrease in long-term receivables, investments and other							645				157				72,865				907
Proceeds from sale of property, plant and equipment							5,315				19				5,317				94
Net cash used in investing							(51,935	)			(21,210	)			(103,060	)			(68,448	)
Financing activities
Interest paid							(807	)			(199	)			(21,358	)			(20,861	)
Lease principal payments							(569	)			(731	)			(1,798	)			(2,026	)
Proceeds from issuance of shares, stock option plan							3,991				254				24,222				549
Dividends returned							—				—				5				30
Net cash provided by (used in) financing							2,615				(676	)			1,071				(22,308	)
Increase (decrease) in cash and cash equivalents, during the period							153,361				(88,015	)			297,371				(291,126	)
Exchange rate changes on foreign currency cash balances							3,725				(1,827	)			(985	)			1,451
Cash and cash equivalents, beginning of period							1,057,682				862,598				918,382				1,062,431
Cash and cash equivalents, end of period						$	1,214,768			$	772,756			$	1,214,768			$	772,756
Cash and cash equivalents is comprised of:
Cash															643,822				457,772
Cash equivalents															570,946				314,984
Cash and cash equivalents														$	1,214,768			$	772,756

See accompanying notes to condensed consolidated interim financial statements.

 

6

Cameco Corporation

Notes to condensed consolidated interim financial statements

(Unaudited)

(Cdn$ thousands, except per share amounts and as noted)

1. Cameco Corporation

Cameco Corporation is incorporated under the Canada Business Corporations Act. The address of its registered office is 2121 11th Street West, Saskatoon, Saskatchewan, S7M 1J3. The condensed consolidated interim financial statements as at and for the period ended September 30, 2021 comprise Cameco Corporation and its subsidiaries (collectively, the Company or Cameco) and the Company’s interests in associates and joint arrangements.

Cameco is one of the world’s largest providers of the uranium needed to generate clean, reliable baseload electricity around the globe. The Company has mines in northern Saskatchewan and the United States, as well as a 40% interest in Joint Venture Inkai LLP (JV Inkai), a joint arrangement with Joint Stock Company National Atomic Company Kazatomprom (Kazatomprom), located in Kazakhstan. JV Inkai is accounted for on an equity basis (see note 6).

Cameco’s Cigar Lake mine was placed in a temporary state of care and maintenance in March of 2020 due to the global COVID-19 pandemic. While production resumed in September, the mine returned to a temporary state of care and maintenance in January 2021 as a result of the pandemic. Production once again resumed in April 2021. Cameco also has two other operations in northern Saskatchewan which are in care and maintenance. Rabbit Lake was placed in care and maintenance in the second quarter of 2016 while operations at McArthur River/Key Lake were suspended indefinitely in the third quarter of 2018. Cameco’s operations in the United States, Crow Butte and Smith Ranch-Highland, are also not currently producing as the decision was made in 2016 to curtail production and defer all wellfield development. See note 18 for the financial statement impact.

The Company is also a leading provider of nuclear fuel processing services, supplying much of the world’s reactor fleet with the fuel to generate one of the cleanest sources of electricity available today. It operates the world’s largest commercial refinery in Blind River, Ontario, controls a significant portion of the world UF₆ primary conversion capacity in Port Hope, Ontario and is a leading manufacturer of fuel assemblies and reactor components for CANDU reactors at facilities in Port Hope and Cobourg, Ontario. Also a result of the COVID-19 pandemic, production was temporarily suspended at the Port Hope UF₆ conversion plant and at the Blind River refinery for approximately four weeks in the second quarter of 2020.

2. Significant accounting policies

A. Statement of compliance

These condensed consolidated interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting. The condensed consolidated interim financial statements do not include all of the information required for full annual financial statements and should be read in conjunction with Cameco’s annual consolidated financial statements as at and for the year ended December 31, 2020.

These condensed consolidated interim financial statements were authorized for issuance by the Company’s board of directors on October 28, 2021.

B. Basis of presentation

These condensed consolidated interim financial statements are presented in Canadian dollars, which is the Company’s functional currency. All financial information is presented in Canadian dollars, unless otherwise noted. Amounts presented in tabular format have been rounded to the nearest thousand except per share amounts and where otherwise noted.

 

7

The condensed consolidated interim financial statements have been prepared on the historical cost basis except for the following material items which are measured on an alternative basis at each reporting date:

 

Derivative financial instruments		Fair value through profit or loss (FVTPL)
Equity securities		Fair value through other comprehensive income (FVOCI)
Liabilities for cash-settled share-based payment arrangements		Fair value through profit or loss (FVTPL)
Net defined benefit liability		Fair value of plan assets less the present value of the defined benefit obligation

The preparation of the condensed consolidated interim financial statements in conformity with International Financial Reporting Standards (IFRS) requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses. Actual results may vary from these estimates.

In preparing these condensed consolidated interim financial statements, the significant judgments made by management in applying the Company’s accounting policies and key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements as at and for the year ended December 31, 2020.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in note 5 of the December 31, 2020 consolidated financial statements.

3. Accounting standards

A. New standards and interpretations not yet adopted

A new amendment to an existing standard is not yet effective for the period ended September 30, 2021 and has not been applied in preparing these condensed consolidated interim financial statements. Cameco does not intend to early adopt the following amendment.

i. Income tax

In May 2021, the International Accounting Standards Board issued Deferred Tax related to Assets and Liabilities arising from a Single Transaction, which amended IAS 12, Income Taxes (IAS 12). The amendments are effective for periods beginning on or after January 1, 2023, with early adoption permitted. The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of IAS 12 (recognition exemption) so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences, such as leases and decommissioning liabilities. Cameco does not expect adoption of the standard to have a material impact on the financial statements.

 

8

4. Inventories

 

		Sep 30/21				Dec 31/20
Uranium
Concentrate		$	320,077			$	579,653
Broken ore			41,629				45,387
			361,706				625,040
Fuel services			74,352				52,273
Other			1,410				3,056
Total		$	437,468			$	680,369

Cameco expensed $333,182,000 of inventory as cost of sales during the third quarter of 2021 (2020—$334,361,000). For the nine months ended September 30, 2021, Cameco expensed $866,811,000 of inventory as cost of sales (2020—$1,048,730,000).

5. Long-term receivables, investments and other

 

		Sep 30/21				Dec 31/20
Investments in equity securities [note 17](a)		$	—			$	43,873
Derivatives [note 17]			36,661				45,605
Investment tax credits			95,722				95,642
Amounts receivable related to tax dispute(b)			295,221				303,222
Product loan(c)			176,904				176,904
Other			1,193				5,512
			605,701				670,758
Less current portion			(21,217	)			(18,716	)
Net		$	584,484			$	652,042

(a) Cameco had designated the investments shown below as equity securities at FVOCI because these equity securities represented investments that the Company had intended to hold for the long term for strategic purposes. During the first quarter, Cameco started to divest of these securities since holding them no longer added value in terms of its strategic plan. There were no dividends recognized on any of these investments during the year.

 

		Sep 30/21				Dec 31/20
Investment in Denison Mines Corp.		$	—			$	20,677
Investment in UEX Corporation			—				13,005
Investment in Iso Energy Ltd.			—				6,923
Investment in GoviEx			—				2,875
Other			—				393
		$	—			$	43,873

(b) Cameco was required to remit or otherwise secure 50% of the cash taxes and transfer pricing penalties, plus related interest and instalment penalties assessed, in relation to its dispute with Canada Revenue Agency (CRA) (see note 13). In light of our view of the likely outcome of the case, Cameco expects to recover the amounts remitted to CRA, including cash taxes, interest and penalties totalling $295,221,000 already paid as at September 30, 2021 (December 31, 2020—$303,222,000) (note 13).

 

9

(c) Cameco loaned 5,400,000 pounds of uranium concentrate to its joint venture partner, Orano Canada Inc., (Orano). Orano is obligated to repay us in kind with uranium concentrate no later than December 31, 2023. The loan is recorded at Cameco’s weighted average cost of inventory.

6. Equity-accounted investee

JV Inkai is the operator of the Inkai uranium deposit located in Kazakhstan. JV Inkai is a uranium mining and milling operation that utilizes in-situ recovery (ISR) technology to extract uranium. The participants in JV Inkai purchase uranium from Inkai and, in turn, derive revenue directly from the sale of such product to third-party customers (see note 19). Cameco holds a 40% interest in JV Inkai and Kazatomprom holds a 60% interest. Cameco does not have control over the joint venture so it accounts for the investment on an equity basis.

The following tables summarize the financial information of JV Inkai (100%):

 

		Sep 30/21				Dec 31/20
Cash and cash equivalents		$	16,498			$	47,539
Other current assets			150,827				115,647
Non-current assets			338,131				343,767
Current liabilities			(21,197	)			(26,397	)
Non-current liabilities			(39,365	)			(39,991	)
Net assets		$	444,894			$	440,565

 

		Three months ended								Nine months ended
		Sep 30/21				Sep 30/20				Sep 30/21				Sep 30/20
Revenue from products and services		$	97,194			$	30,979			$	170,022			$	98,461
Cost of products and services sold			(13,430	)			(6,729	)			(27,085	)			(28,031	)
Depreciation and amortization			(5,902	)			(2,673	)			(11,568	)			(10,248	)
Finance income			64				136				208				324
Finance costs			(192	)			(273	)			(604	)			(849	)
Other expense			(4,628	)			(2,374	)			(11,390	)			(4,910	)
Income tax expense			(14,747	)			(3,375	)			(24,325	)			(23,785	)
Net earnings from continuing operations		$	58,359			$	15,691			$	95,258			$	30,962
Other comprehensive income			—				—				—				—
Total comprehensive income		$	58,359			$	15,691			$	95,258			$	30,962

 

10

The following table reconciles the summarized financial information to the carrying amount of Cameco’s interest in JV Inkai:

 

		Sep 30/21				Dec 31/20
Opening net assets		$	440,565			$	442,074
Total comprehensive income			95,258				113,661
Dividends declared			(85,198	)			(64,456	)
Impact of foreign exchange			(5,731	)			(50,714	)
Closing net assets			444,894				440,565
Cameco’s share of net assets			177,958				176,226
Consolidating adjustments(a)			(43,312	)			(38,975	)
Fair value increment(b)			87,559				89,184
Dividends in excess of ownership percentage(c)			(22,085	)			(9,669	)
Impact of foreign exchange			346				2,922
Carrying amount in the statement of financial position at September 30, 2021		$	200,466			$	219,688

 

(a)	Cameco records certain consolidating adjustments to eliminate unrealized profit and amortize historical differences in accounting policies. This amount is amortized to earnings over units of production.

(b)	Upon restructuring, Cameco assigned fair values to the assets and liabilities of JV Inkai. This increment is amortized to earnings over units of production.

(c)	Cameco’s share of dividends follows its production purchase entitlements which is currently higher than its ownership interest.

7. Other liabilities

 

		Sep 30/21				Dec 31/20
Deferred sales		$	27,547			$	14,382
Derivatives [note 17]			3,960				4,733
Accrued pension and post-retirement benefit liability			93,999				91,729
Lease obligation [note 17]			5,604				7,951
Product loans(a)			15,912				6,045
Other			55,595				67,838
			202,617				192,678
Less current portion			(11,856	)			(26,119	)
Net		$	190,761			$	166,559

(a) Cameco has standby product loan facilities with various counterparties. The arrangements allow us to borrow up to 1,977,000 kgU of UF₆ conversion services and 2,606,000 pounds of U₃O₈ over the period 2020 to 2023 with repayment in kind up to December 31, 2023. Under the facilities, standby fees of up to 1% are payable based on the market value of the facilities and interest is payable on the market value of any amounts drawn at rates ranging from 0.5% to 1.6%. At September 30, 2021, we have 1,103,000 kgU of UF₆ conversion services drawn on the loans with repayment due no later than December 31, 2022. The loans are recorded at Cameco’s weighted average cost of inventory.

 

11

8. Provisions

 

		Reclamation				Waste disposal				Total
Beginning of year		$	1,189,600			$	9,322			$	1,198,922
Changes in estimates and discount rates
Capitalized in property, plant, and equipment			(103,798	)			—				(103,798	)
Recognized in earnings			(18,370	)			(133	)			(18,503	)
Provisions used during the period			(13,538	)			(331	)			(13,869	)
Unwinding of discount			15,554				54				15,608
Impact of foreign exchange			(1,351	)			—				(1,351	)
End of period		$	1,068,097			$	8,912			$	1,077,009
Current			36,407				2,602				39,009
Non-current			1,031,690				6,310				1,038,000
		$	1,068,097			$	8,912			$	1,077,009

9. Share capital

At September 30, 2021, there were 397,947,928 common shares outstanding. Options in respect of 3,571,438 shares are outstanding under the stock option plan and are exercisable up to 2027. For the quarter ended September 30, 2021, there were 195,158 options that were exercised resulting in the issuance of shares (2020—22,440). For the nine months ended September 30, 2021, there were 1,685,187 options exercised that resulted in the issuance of shares (2020—48,473).

10. Revenue

Cameco’s uranium and fuel services sales contracts with customers contain both fixed and market-related pricing. Fixed-price contracts are typically based on a term-price indicator at the time the contract is accepted and escalated over the term of the contract. Market-related contracts are based on either the spot price or long-term price, and the price is quoted at the time of delivery rather than at the time the contract is accepted. These contracts often include a floor and/or ceiling prices, which are usually escalated over the term of the contract. Escalation is generally based on a consumer price index. The Company’s contracts contain either one of these pricing mechanisms or a combination of the two. There is no variable consideration in the contracts and therefore no revenue is considered constrained at the time of delivery. Cameco expenses the incremental costs of obtaining a contract as incurred as the amortization period is less than a year.

 

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The following tables summarize Cameco’s sales disaggregated by geographical region and contract type and includes a reconciliation to Cameco’s reportable segments (note 18):

For the three months ended September 30, 2021

 

		Uranium				Fuel services				Other				Total
Customer geographical region
Americas		$	155,581			$	59,332			$	10,951			$	225,864
Europe			44,655				18,043				—				62,698
Asia			70,064				2,590				—				72,654
		$	270,300			$	79,965			$	10,951			$	361,216
Contract type
Fixed-price		$	92,432			$	77,985			$	7,585			$	178,002
Market-related			177,868				1,980				3,366				183,214
		$	270,300			$	79,965			$	10,951			$	361,216
For the three months ended September 30, 2020
		Uranium				Fuel services				Other				Total
Customer geographical region
Americas		$	105,006			$	47,078			$	—			$	152,084
Europe			49,751				21,137				—				70,888
Asia			147,425				8,473				—				155,898
		$	302,182			$	76,688			$	—			$	378,870
Contract type
Fixed-price		$	35,726			$	68,598			$	—			$	104,324
Market-related			266,456				8,090				—				274,546
		$	302,182			$	76,688			$	—			$	378,870
For the nine months ended September 30, 2021
		Uranium				Fuel services				Other				Total
Customer geographical region
Americas		$	444,772			$	201,697			$	11,841			$	658,310
Europe			116,496				56,252				2,945				175,693
Asia			170,316				6,118				—				176,434
		$	731,584			$	264,067			$	14,786			$	1,010,437
Contract type
Fixed-price		$	226,576			$	257,182			$	11,421			$	495,179
Market-related			505,008				6,885				3,365				515,258
		$	731,584			$	264,067			$	14,786			$	1,010,437

 

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For the nine months ended September 30, 2020

 

		Uranium				Fuel services				Other				Total
Customer geographical region
Americas		$	413,276			$	150,918			$	3,321			$	567,515
Europe			230,534				97,229				3,331				331,094
Asia			336,616				14,492				—				351,108
		$	980,426			$	262,639			$	6,652			$	1,249,717
Contract type
Fixed-price		$	201,333			$	252,843			$	3,331			$	457,507
Market-related			779,093				9,796				3,321				792,210
		$	980,426			$	262,639			$	6,652			$	1,249,717

 

11.	Finance costs

 

		Three months ended								Nine months ended
		Sep 30/21				Sep 30/20				Sep 30/21				Sep 30/20
Interest on long-term debt		$	9,792			$	10,799			$	29,459			$	31,950
Unwinding of discount on provisions			5,392				2,500				15,608				10,522
Other charges			3,749				3,567				11,514				10,306
Total		$	18,933			$	16,866			$	56,581			$	52,778

 

12.	Other income (expense)

 

		Three months ended								Nine months ended
		Sep 30/21				Sep 30/20				Sep 30/21				Sep 30/20
Foreign exchange gains (losses)			12,725				(10,750	)			431				20,676
Government assistance(a)			40				—				21,209				—
Other			—				—				—				202
Total		$	12,765			$	(10,750	)		$	21,640			$	20,878

 

(a)

In response to the negative economic impact of COVID-19, the Government of Canada announced the Canada Emergency Wage Subsidy program (CEWS). CEWS provides a subsidy on eligible remuneration based on certain criteria. In 2021, the Company qualified for the subsidy for the periods January through June. There are no unfulfilled conditions and other contingencies attached to this government assistance. Given new eligibility criteria that was recently introduced, Cameco has not yet determined whether it will apply for the CEWS in subsequent application periods.

 

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