2016 - Q4 Ag Growth International
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Ag</strong> <strong>Growth</strong> <strong>International</strong> Inc.<br />
Notes to consolidated financial statements<br />
[in thousands of Canadian dollars, except where otherwise noted and per share data]<br />
December 31, <strong>2016</strong><br />
<strong>Growth</strong> rate estimates<br />
Rates are based on published research and are primarily derived from the long-term Consumer Price Index<br />
expectations for the markets in which AGI operates. Management considers the Consumer Price Index to be a<br />
conservative indicator of the long-term growth expectations for the agricultural industry.<br />
14. Assets held for sale<br />
In 2015, AGI acquired Westeel, which included land and building in Regina, Saskatchewan that met the definition<br />
of assets held for sale. The related carrying amount of $4,100 was recorded as assets held for sale. During <strong>2016</strong>,<br />
the carrying amount of this land and building was reduced to $2,745.<br />
In 2015, AGI transferred all production activities from its existing facility to a new facility, both located in Decatur,<br />
Illinois. AGI concluded that the grounds, building and selected equipment at the existing Decatur, Illinois facility met<br />
the definition of assets held for sale. The related carrying amount of $1,356 has been recorded as assets held for<br />
sale. During <strong>2016</strong>, the carrying amount of this grounds, building and selected equipment was reduced to $403.<br />
In 2015, the land and building of the Lethbridge facility included in assets held for sale were sold and the related<br />
carrying amount of $1,101 was removed from assets held for sale.<br />
In <strong>2016</strong>, land and building in Winnipeg, Manitoba included in assets held for sale were sold and the related carrying<br />
amount of $1,150 was removed from assets held for sale.<br />
As at December 31, <strong>2016</strong>, the land carrying value is $1,674 [2015 – $2,944] and the building carrying value is<br />
$1,474 [2015 – $3,662].<br />
15. Available-for-sale investment<br />
In fiscal 2009, AGI invested in a privately held Canadian farming company [“Investco”]. AGI assesses at each<br />
reporting period whether there is any objective evidence that its investment is impaired.<br />
16. Cash and cash equivalents/changes in non cash working capital<br />
Cash and cash equivalents as at the date of the consolidated statements of financial position and for the purpose of<br />
the consolidated statements of cash flows relate to cash at banks and cash on hand. Cash at banks earns interest<br />
at floating rates based on daily bank deposit rates.<br />
102
Change language