OTHER RESERVES

12 Months Ended

Dec. 31, 2020

OTHER RESERVES

OTHER RESERVES

17.  OTHER RESERVES

The following table sets out the movements in other reserves during the years ended December 31, 2020 and 2019:

	Equity		Cash flow
	securities		hedge
	reserve		reserve		Total
Balance at December 31, 2018	$	(58,095)	$	—	$	(58,095)
Net change in fair value		12,238		—		12,238
Transfer of gain on disposal of equity securities at FVTOCI to deficit		(2,065)		—		(2,065)
Balance at December 31, 2019	$	(47,922)	$	—	$	(47,922)
Net change in cash flow hedge reserve		—		(11,964)		(11,964)
Net change in fair value of equity securities at FVTOCI		145,138		—		145,138
Balance at December 31, 2020	$	97,216	$	(11,964)	$	85,252

The cash flow hedge reserve represents the settlement of an interest rate derivative related to the 2020 Notes. The reserve will be amortized over the term of the Notes. Amortization of the reserve is included in the finance costs line item in the consolidated statements of income.