OTHER RESERVES

12 Months Ended

Dec. 31, 2021

OTHER RESERVES

OTHER RESERVES

18.OTHER RESERVES

The following table sets out the movements in other reserves for the year ended December 31, 2021 and 2020:

	Equity		Cash flow
	securities		hedge
	reserve		reserve		Total
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		145,138		—		145,138
Balance at December 31, 2020	$	97,216	$	(11,964)	$	85,252
Net change in cash flow hedge reserve		—		1,175		1,175
Transfer of net loss on disposal of equity securities to deficit		5,057		—		5,057
Net change in fair value of equity securities		(37,208)		—		(37,208)
Balance at December 31, 2021	$	65,065	$	(10,789)	$	54,276

The cash flow hedge reserve represents the settlement of an interest rate derivative related to the Senior Notes issued in 2020. 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.