Financial Instruments, Fair Value Measurements, Credit Risk and Foreign Exchange Risk (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value of Foreign Currency Derivatives, Contingent Consideration and Contingent Liability

The fair value of the trading securities, foreign currency derivative liability and contingent consideration at March 31, 2015, and December 31, 2014, were as follows:

	As at
(Thousands of U.S. Dollars)	March 31, 2015		December 31, 2014
Trading securities	$	7,998	$	7,586
Foreign currency derivative liability	$	1,070	$	3,057
Contingent consideration liability	1,061		1,061
	$	2,131	$	4,118

Gains Associated with Foreign Currency Derivatives

The following table presents gains or losses on financial instruments recognized in the accompanying interim unaudited condensed consolidated statements of operations:

(Thousands of U.S. Dollars)	Three Months Ended March 31,
	2015			2014
Trading securities gain	$	(412	)	$	—
Foreign currency derivatives loss (gain)	370			(2,409		)
	$	(42	)	$	(2,409	)

Open Foreign Currency Derivative Positions

At March 31, 2015, the Company had the following open foreign currency derivative positions:

Forward Contracts
Currency	Contract Type	Notional (Millions of Colombian Pesos)	Weighted Average Fixed Rate Received (Colombian Pesos - U.S. Dollars)	Expiration
Colombian pesos	Buy	12,468.2	2,116	April 2015