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Derivative instruments (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Location and fair value amount of derivative instruments reported on the balance sheet
The following table summarizes information on the classification and amount of the fair value of derivatives not designated as hedging instruments for accounting purposes on the Consolidated Balance Sheets as at June 30, 2016 and December 31, 2015:
 
 
June 30, 2016
 
December 31, 2015
Derivatives not designated as hedging instruments:
 
Notional Exposure
 
Asset Derivative at Fair Value (a)
 
Liability Derivative at Fair Value (a)
 
Notional Exposure
 
Asset Derivative at Fair Value (a)
 
Liability Derivative at Fair Value (a)
Foreign currency forward contracts
 
$
297,275

 
$
4,230

 
$
4,746

 
$
255,840

 
$
2,601

 
$
3,211

(a)
Asset and liability derivatives are classified within other assets and accounts payable and accrued expenses, respectively, on the Consolidated Balance Sheets. The net impact on earnings, recognized in income within foreign exchange gains (losses) relating to the foreign currency forward contracts that were not designated as hedging instruments during the three and six months ended June 30, 2016 was $896 and ($1,117), respectively (2015: $nil and $nil, respectively). The net impact on earnings, recognized in income within other income (loss) relating to the foreign currency forward contracts that were not designated as hedging instruments during the three and six months ended June 30, 2016 were $84 and $120, respectively (2015: ($128) and ($127), respectively).
The following table summarizes information on the classification and amount of the fair value of derivatives designated as hedging instruments for accounting purposes on the Consolidated Balance Sheets as at June 30, 2016 and December 31, 2015:
 
 
June 30, 2016
 
December 31, 2015
Derivatives designated as hedging instruments:
 
Notional Exposure
 
Asset Derivative at Fair Value (a)
 
Liability Derivative at Fair Value (a)
 
Notional Exposure
 
Asset Derivative at Fair Value (a)
 
Liability Derivative at Fair Value (a)
Interest rate swap contracts
 
$
552,263

 
$
20

 
$
2,529

 
$
552,263

 
$
21

 
$
1,942

(a)
Asset and liability derivatives are classified within other assets and accounts payable and accrued expenses, respectively, on the Consolidated Balance Sheets.
Location and amount of gains and losses related to derivative instruments reported on in the income statement
The following table provides the total impact on earnings, recognized in income within foreign exchange gains (losses), relating to the derivative instruments formally designated as fair value hedges for accounting purposes along with the impact of the related hedged items for the three and six months ended June 30, 2016 and 2015:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Foreign currency forward contracts
 
2016
 
2015
 
2016
 
2015
Amount of loss recognized in income on derivative
 
$
—

 
$
(8,954
)
 
$
—

 
$
(15,156
)
Amount of gain on hedged item recognized in income attributable to risk being hedged
 
$
—

 
$
8,954

 
$
—

 
$
15,156

Amount of gain recognized in income on derivative (ineffective portion)
 
$
—

 
$
—

 
$
—

 
$
—
Location and amount of gains and losses related to derivative instruments reported on in the comprehensive income and earnings
The following table provides the total impact on other comprehensive income (loss) and earnings relating to the derivative instruments formally designated as cash flow hedges along with the impact of the related hedged items for the three and six months ended June 30, 2016 and 2015:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Interest rate swap contracts
 
2016
 
2015
 
2016
 
2015
Amount of effective portion recognized in other comprehensive income
 
$
2,694

 
$
2,846

 
$
6,350

 
$
6,886

Amount of effective portion subsequently reclassified to earnings
 
$
(2,758
)
 
$
(3,236
)
 
$
(5,656
)
 
$
(6,475
)
Amount of ineffective portion excluded from effectiveness testing
 
$
64

 
$
390

 
$
(694
)
 
$
(411
)