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Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheet (Detail) (CAD)
In Thousands, unless otherwise specified
Mar. 31, 2013
Dec. 30, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notional value 240,471 236,484
Fair value asset (liability) 15,784 [1] 5,490 [1]
Level 2 | Forward Currency Contracts
   
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notional value 165,318 [2] 195,081 [2]
Fair value asset (liability) 2,009 [1],[2] (2,014) [1],[2]
Level 2 | Interest Rate Swap | Canadian Ad Fund
   
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notional value 33,750 [3] 0 [3]
Fair value asset (liability) (482) [1],[3] 0 [1],[3]
Level 2 | TRS
   
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notional value 41,403 [4] 41,403 [4]
Fair value asset (liability) 14,257 [1],[4] 7,504 [1],[4]
[1] The Company values its derivatives using valuations that are calibrated to the initial trade prices. Subsequent valuations are based on observable inputs to the valuation model.
[2] The fair value of forward currency contracts is determined using prevailing exchange rates.
[3] In February 2013, the Tim Hortons Advertising and Promotion Fund (Canada) Inc. ("Ad Fund") entered into an amortizing interest rate swap to fix a portion of the interest expense on its term debt. The fair value is estimated using discounted cash flows and market-based observable inputs, including interest rate yield curves and discount rates.
[4] The fair value of the TRS is determined using the Company's closing common share price on the last business day of the fiscal period, as quoted on the Toronto Stock Exchange ("TSX").