2016 Annual Report For Web 7.3MB

maintains an allowance for doubtful accounts for estimated losses
resulting from the inability to collect on its trade receivables, which is
netted against the accounts receivable on the consolidated statements
of financial position. Emerging markets are subject to various additional
risks including currency exchange rate fluctuations, foreign economic
conditions and foreign business practices. One or more of these
factors could have a material effect on the future collectability of such
receivables. In assessing whether objective evidence of impairment
exists at each reporting period the Company considers its past
experience of collecting payments, historical loss experience, customer
credit ratings and financial data as available, collateral on amounts
owing including insurance coverage from export credit agencies, as well
as observable changes in national or local economic conditions.
The requirement for an impairment provision is analyzed at each
reporting date on an individual basis for major customers. Additionally,
a large number of minor receivables are grouped into homogeneous
groups and assessed for impairment collectively.
The Company does not believe that any single customer group
represents a significant concentration of credit risk.
LIQUIDITY RISK
Liquidity risk is the risk that AGI will encounter difficulties in meeting
its financial liability obligations. AGI manages its liquidity risk through
cash and debt management. In managing liquidity risk, AGI has access
to committed short- and long-term debt facilities as well as to equity
markets, the availability of which is dependent on market conditions.
AGI believes it has sufficient funding through the use of these facilities
to meet foreseeable borrowing requirements.
The tables below summarize the undiscounted contractual payments of
the Company’s financial liabilities as at December 31, 2016 and 2015:
DECEMBER 31, 2016
TOTAL
$
0 - 6 MONTHS
$
6 - 12 MONTHS
$
12 - 24 MONTHS
$
2 - 4 YEARS
$
AFTER 4 YEARS
$
Trade payables and provisions 71,056 71,056 — — — —
Dividends payable 2,956 2,956 — — — —
Due to vendor 16,415 16,415 — — — —
Acquisition, transaction and financing costs payable 262 262 — — — —
Contingent consideration 21,202 4,015 — 9,190 7,997 —
Term debt 249,858 4,099 4,099 8,199 120,298 113,163
Convertible unsecured subordinated debentures [includes interest] 245,208 5,498 5,498 97,245 136,967 —
TOTAL FINANCIAL LIABILITY PAYMENTS 609,657 104,301 9,597 114,634 265,262 113,163
DECEMBER 31, 2015
TOTAL
$
0 - 6 MONTHS
$
6 - 12 MONTHS
$
12 - 24 MONTHS
$
2 - 4 YEARS
$
AFTER 4 YEARS
$
Trade payables and provisions 54,271 54,271 — — — —
Dividends payable 2,883 2,883 — — — —
Due to vendor 1,114 1,114 — — — —
Acquisition, transaction and financing costs payable 732 732 — — — —
Contingent consideration 5,000 — 3,000 2,000 — —
Other financial liabilities 9,017 — 9,017 — — —
Term debt 176,975 37,906 2,914 4,260 57,499 74,396
Convertible unsecured subordinated debentures [includes interest] 256,203 5,498 5,498 10,995 155,462 78,750
TOTAL FINANCIAL LIABILITY PAYMENTS 506,195 102,404 20,429 17,255 212,961 153,146
143 CONSOLIDATED FINANCIAL STATEMENTS
FIELD TO CONSUMER
2016 ANNUAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS 144