Concordia International Corp. | CIK:0001642271 | 3

  • Filed: 3/8/2018
  • Entity registrant name: Concordia International Corp. (CIK: 0001642271)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1642271/000164227118000008/0001642271-18-000008-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1642271/000164227118000008/cxrx-20171231.xml
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    • ifrs-full:DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory

    The following table presents movement from the opening balance to the closing balances for Level 3 fair values:
     
    Purchase consideration

    Balance, January 1, 2015
    25,108

    Acquisition of the Concordia International segment
    206,490

    Assumed on acquisition of the Concordia International segment
    68,984

    Paid during the year
    (3,557
    )
    Write-off during the year
    (2,452
    )
    Recognized in consolidated statement of loss
    (1,631
    )
    Balance, December 31, 2015
    292,942

     
     
    Balance, January 1, 2016
    292,942

    Transfer to Level 2
    (92,182
    )
    Paid during the year
    (147,207
    )
    Additional purchase consideration during the year (Note 5)
    8,691

    Recognized in consolidated statement of loss
    (8,407
    )
    Impact of foreign exchange
    (34,475
    )
    Balance, December 31, 2016
    19,362

     
     
    Balance, January 1, 2017
    19,362

    Paid during the year (a)
    (15,730
    )
    Recognized in consolidated statement of loss
    269

    Impact of foreign exchange
    12

    Balance, December 31, 2017
    3,913


    (a) The amount paid during the period does not include the final earn-out payment of $92,038 paid to the Vendors of the Concordia International segment on February 1, 2017 as this fair value measurement was transferred to Level 2 in the fourth quarter of 2016. The total purchase consideration payments made, including the amount paid to the Vendors of the Concordia International segment, amounted to $107,768 during the year ended December 31, 2017.

    The following table presents the fair value of financial assets and financial liabilities, including their levels in the fair value hierarchy:
    As at
    Dec 31, 2017
     
     
    Level 1

    Level 2

    Level 3

    Total

    Financial liabilities measured at fair value through profit or loss
     
     


    Purchase consideration
    —

    4,471

    3,913

    8,384

     
    —

    4,471

    3,913

    8,384

     
     
     
     
     
    As at
    Dec 31, 2016
     
     
    Level 1

    Level 2

    Level 3

    Total

    Financial assets measured at fair value through profit or loss
     
     
     
     
    Derivative financial instrument
    —

    23,555

    —

    23,555

     
    —

    23,555

    —

    23,555

     
     
     
     
     
    Financial liabilities measured at fair value through profit or loss
     
     
     
     
    Purchase consideration
    —

    92,182

    19,362

    111,544

    Derivative financial instrument
    —

    27,854

    —

    27,854

     
    —

    120,036

    19,362

    139,398