Tucows 2012 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 of the 2012 Tucows annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

F-17
Fair value of derivative instruments in the consolidated balance sheets (see note 14)
Balance Sheet
Year ended
December 31,
2012
Fair Value
Asset
Year ended
December 31,
2011
Fair Value
Asset
Derivatives Location (Liability) (Liability)
Foreign currency forward contracts designated as cash flow
hedges Derivative instruments $ 377,703 $
—
Foreign currency forward contracts not designated as cash
flow hedges Derivative instruments $ 67,079 $ (699,483)
Total foreign currency forward contracts Derivative instruments $ 444,782 $ (699,483)
Effects of derivative instruments on income and other comprehensive income (OCI)
Derivatives in Cash Flow
Hedging Relationship
Amount of
Gain or (Loss)
Reco
g
nized in
OCI on
Derivative
(Effective
Portion)
Location of
Gain or (Loss)
Reclassified
from
Accumulated
OCI into
Income
(Effective
Portion)
Amount of
Gain or (Loss)
Reclassified
from
Accumulated
OCI into
Income
(Effective
Portion)
Location of
Gain or (Loss)
Reco
g
nized in
Income on
Derivative
(ineffective
Portion and
Amount
Excluded
from
Effectiveness
Testing)
Amount of
Gain or (Loss)
Reco
g
nized in
Income on
Derivative
(ineffective
Portion and
Amount
Excluded
from
Effectiveness
Testing)
Foreign currency forward
contracts $ 44,104
—
—
—
—
5. Property and equipment:
Property and equipment consist of the following:
December 31,
2012
December 31,
2011
Computer equipment $ 6,529,764 $ 7,348,211
Computer software 1,157,609 2,659,331
Furniture and equipment 542,213 403,953
8,229,586 10,411,495
Less:
Accumulated depreciation 6,877,442 8,973,931
$ 1,352,144 $ 1,437,564
Depreciation of property and equipment:
Year ended
December 31,
2012
Year ended
December 31,
2011
Year ended
December 31,
2010
Depreciation of property and equipment $ 802,060 $ 937,460 $1,203,212