Fair value measurement (Tables)

12 Months Ended

Dec. 31, 2020

Fair value measurement [Abstract]

Non-financial Assets Measured at Fair Value Classified in Level 3

As of December 31, 2020 and 2019 non-financial assets measured at fair value are classified in Level 3 of this hierarchy, as described below:

	2020		2019
Level 3
Vessels	$	182,055	$	214,938
Buildings		286,232		299,660
Land		1,934,345		1,597,923
	$	2,402,632	$	2,112,521

Information Used for Appraisal

The information used for the measurement of fair value as of December 31, 2020 was:

	Offshore vessels			Parcel tankers
Daily rate or fee	4,504 usd			15,805 usd
Average percentage of utilization		78	%		89	%
Discount rate		7.44	%		7.65	%

Reconciliation Between Carrying Amounts of Non-financial Assets Classified within Level 3

As of December 31, 2020, and 2019, the reconciliation between the carrying amounts of non-financial assets classified within Level 3 is as follows:

	Vessels			Buildings andFacilities
Balance as of January 1, 2020	$	214,938		$	1,897,583
Amount recognized in other comprehensive income:
Revaluation surplus of vessels		-			330,571
Amount recognized in statements profit or loss:
Loss on revaluation of vessels		(16,136	)		-
		(16,136	)		330,571
Additions and disposals, net		(16,747	)		(7,577	)
Balance as of December 31, 2020	$	182,055		$	2,220,577

Balance as of January 1, 2019	$	782,673		$	1,385,153
Amount recognized in other comprehensive income:
Revaluation surplus of vessels		41,026			377,593
Amount recognized in statements profit or loss:
Loss on revaluation of vessels		(39,199	)		-
		1,827			377,593
Additions and disposals, net		(569,562	)		134,837
Balance as of December 31, 2019	$	214,938		$	1,897,583