Tucows 2015 Annual Report Download - page 201

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Fair value of derivative instruments in the consolidated balance sheets (see note 7)
Derivatives
Balance Sheet
Location
December 31,
2015
Liabilities at
Fair Value
December 31,
2014
Liabilities at
Fair Value
Foreign currency forward contracts designated as cash flow
hedges Derivative instruments $ (1,721,683)$ (946,676)
Foreign currency forward contracts not designated as cash
flow hedges Derivative instruments $ (305,403)$ (169,129)
Total foreign currency forward contracts Derivative instruments $ (2,027,086)$ (1,115,805)
Movement in AOCI balance for the year ended December 31, 2015
Gains and
losses on cash
flow hedges Tax impact Total AOCI
Opening AOCI balance – December 31, 2014 $ (946,676) $ 324,235 $ (622,441)
Other comprehensive income (loss) before reclassifications (3,171,740) 1,140,275 (2,031,465)
Amount reclassified from accumulated other comprehensive
income 2,396,733 (852,279) 1,544,454
Other comprehensive income (loss) for the year ended
December 31, 2015 (775,007) 287,996 (487,011)
Ending AOCI balance – December 31, 2015 $ (1,721,683) $ 612,231 $ (1,109,452)
Movement in AOCI balance for the year ended December 31, 2014
Gains and
losses on cash
flow hedges Tax impact Total AOCI
Opening AOCI balance – December 31, 2013 $ (372,593) $ 127,612 $ (244,981)
Other comprehensive income (loss) before reclassifications (1,527,171) 523,056 (1,004,115)
Amount reclassified from accumulated other comprehensive
income 953,088 (326,433) 626,655
Other comprehensive income (loss) for the year ended
December 31, 2014 (574,083) 196,623 (377,460)
Ending AOCI balance – December 31, 2014 $ (946,676) $ 324,235 $ (622,441)
F-21
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