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Fair value measurements (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities by fair value hierarchy
The following tables summarize the valuation of Belmond’s assets and liabilities by the fair value hierarchy at December 31, 2017 and 2016:
 
 
Level 1
 
Level 2
 
Level 3
 
Total
December 31, 2017
 
$'000
 
$'000
 
$'000
 
$'000
 
 
 
 
 
 
 
 
 
Assets at fair value:
 
 

 
 
 
 
 
 
Derivative financial instruments
 

 
1,348

 

 
1,348

 
 
 
 
 
 
 
 
 
Total assets
 

 
1,348

 

 
1,348

 
 
 
 
 
 
 
 
 
Liabilities at fair value:
 
 

 
 
 
 

 
 
Derivative financial instruments
 

 
(430
)
 

 
(430
)
 
 
 
 
 
 
 
 
 
Total net assets
 

 
918

 

 
918


 
 
Level 1
 
Level 2
 
Level 3
 
Total
December 31, 2016
 
$'000
 
$'000
 
$'000
 
$'000
 
 
 
 
 
 
 
 
 
Assets at fair value:
 
 

 
 
 
 
 
 
Derivative financial instruments
 

 

 

 

 
 
 
 
 
 
 
 
 
Total assets
 

 

 

 

 
 
 
 
 
 
 
 
 
Liabilities at fair value:
 
 

 
 

 
 

 
 
Derivative financial instruments
 

 
(3,364
)
 

 
(3,364
)
 
 
 
 
 
 
 
 
 
Total net liabilities
 

 
(3,364
)
 

 
(3,364
)
Schedule of estimated carrying values, fair values, and levels of the fair value hierarchy of long-term debt
The estimated carrying values, fair values, and levels of the fair value hierarchy of Belmond's long-term debt as of December 31, 2017 and 2016 were as follows:
 
 
 
December 31, 2017
 
December 31, 2016
 
 
 
Carrying
amounts
$’000
 
Fair value
$’000
 
Carrying
amounts
$’000
 
Fair value
$’000
 
 
 
 
 
 
 
 
 
 
Total long-term debt, before deduction of discount on secured term loan and debt issuance costs, excluding obligations under capital leases
Level 3
 
724,208

 
728,994

 
602,083

 
626,613

Schedule of estimated fair values of non-financial assets measured on a non-recurring basis
The estimated fair values of Belmond’s non-financial assets measured on a non-recurring basis for the years ended December 31, 2017, 2016 and 2015 were as follows:

 
 
 
 
Fair value measurement inputs
 
 
 
 
Fair value
$’000
 
Level 1
$’000
 
Level 2
$’000
 
Level 3
$’000
 
Total losses in year ended December 31, 2017
$’000
 
 
 
 
 
 
 
 
 
 
 
Property, plant and equipment
 
5,955

 

 

 
5,955

 
(8,216
)
 
 
 
 
Fair value measurement inputs
 
 
 
 
Fair value
$’000
 
Level 1
$’000
 
Level 2
$’000
 
Level 3
$’000
 
Total losses in year ended December 31, 2016
$’000
 
 
 
 
 
 
 
 
 
 
 
Property, plant and equipment
 

 

 

 

 
(1,007
)

 
 
 
 
Fair value measurement inputs
 
 
 
 
Fair value
$’000
 
Level 1
$’000
 
Level 2
$’000
 
Level 3
$’000
 
Total losses in year ended December 31, 2017
$’000
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 

 

 

 

 
(5,500
)
 
 
 
 
Fair value measurement inputs
 
 
 
 
Fair value
$’000
 
Level 1
$’000
 
Level 2
$’000
 
Level 3
$’000
 
Total losses in year ended December 31, 2015
$’000
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 
10,050

 

 

 
10,050

 
(9,796
)