Net Investment Hedge
The Company has designated its Great British Pounds ("GBP" or "£") denominated term loan (refer to Note 14) as a net investment hedge with its investment in Concordia International as this loan was entered into at the time of the acquisition of the Concordia International segment and formed part of the consideration transferred. This term loan is carried at amortized cost, however foreign currency translation adjustments of the financial liability are recorded in other comprehensive loss at each reporting period on a net of tax basis, along with the associated cumulative translation adjustment associated with the hedged investment. There have been no amounts recorded in the consolidated statement of loss with respect to ineffective portions of the hedge or subsequent changes from the initial designation of the net investment hedge.
