Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments Gain Loss [Line Items]

The carrying values of the Company's Cash and Cash Equivalents, Accounts Receivable, Accounts Payable and Accrued and Other Liabilities due within one year approximate their fair values due to the short-term maturity of these instruments. Including these instruments, the Company's financial instruments consist of the following:


	As of September 30, 2022						As of December 31, 2021
(In thousands of U.S. Dollars)	Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
Level 1
Cash and cash equivalents(1)	$	87,151		$	87,151		$	189,711		$	189,711
Equity securities(2)		1,095			1,095			1,087			1,087
Level 2
Net financed sales receivables(3)	$	97,770		$	96,019		$	112,657		$	112,662
Net investment in sales-type leases(3)		24,848			24,823			28,392			28,407
Equity securities(1)		1,000			1,000			1,000			1,000
COLI(4)		3,366			3,366			3,275			3,275
Foreign exchange contracts — designated forwards(2)		(1,608	)		(1,608	)		79			79
Bank of China Facility borrowings(1)		(4,763	)		(4,763	)		(3,612	)		(3,612	)
Federal Economic Development Loan(3)		(1,772	)		(1,772	)	n/a			n/a
Convertible Notes(5)		(230,000	)		(193,400	)		(230,000	)		(223,100	)
Level 3
Interest in film classified as a financial instrument(6)	$	—		$	—		$	—		$	—

(1)

Recorded at cost, which approximates fair value.

(2)

Fair value is determined using quoted prices in active markets.

(3)

Fair value is estimated based on discounting future cash flows at currently available interest rates with comparable terms.

(4)

Measured at cash surrender value, which approximates fair value.

(5)

Fair value is determined using quoted market prices that are observable in the market or that could be derived from observable market data.

(6)

Recorded at amortized cost less impairment losses. Inputs used in the calculation of estimated fair value include management's projection of future box office and ancillary receipts for the film net of distribution costs and other costs in accordance with the investment agreement. See 17(e) below.

Notional Amount of Derivative

The following tabular disclosures reflect the impact that derivative instruments and hedging activities have on the Company's Condensed Consolidated Financial Statements:

Notional value of foreign exchange contracts:


	September 30,		December 31,
(In thousands of U.S. Dollars)	2022		2021
Derivatives designated as hedging instruments:
Foreign exchange contracts — Forwards	$	30,806	$	26,702

Fair Value of Foreign Exchange Contracts

Fair value of derivatives in foreign exchange contracts:


		September 30,			December 31,
(In thousands of U.S. Dollars)	Balance Sheet Location	2022			2021
Derivatives designated as hedging instruments:
Foreign exchange contracts — Forwards	Other assets	$	—		$	184
	Accrued and other liabilities		(1,608	)		(105	)
		$	(1,608	)	$	79

Derivatives in Foreign Currency Hedging Relationships

Derivatives in foreign currency hedging relationships are as follows:


		Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands of U.S. Dollars)		2022			2021			2022			2021
Foreign exchange contracts	Derivative Loss
— Forwards	Recognized in OCI
	(Effective Portion)	$	(1,567	)	$	(759	)	$	(1,862	)	$	(159	)

	Location of Derivative (Loss) Gain
	Reclassified from AOCI	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands of U.S. Dollars)	(Effective Portion)	2022			2021			2022			2021
Foreign exchange contracts	Selling, general and
— Forwards	administrative expenses	$	(80	)	$	312		$	(175	)	$	1,367

Not Designated as Hedging Instrument [Member]

Derivative Instruments Gain Loss [Line Items]

Derivatives in Foreign Currency Hedging Relationships

Non-designated derivatives in foreign currency relationships are as follows:


		Three Months Ended September 30,					Nine Months Ended September 30,
(In thousands of U.S. Dollars)	Location of Derivative (Loss) Gain	2022		2021			2022		2021
Foreign exchange contracts	Selling, general and
— Forwards	administrative expenses	$	—	$	(122	)	$	—	$	269