Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Short term investments

v3.19.1
Short term investments
12 Months Ended
Dec. 31, 2018
Short-term investment [Abstract]  
Short term investments
Short term investments
Upon adoption of IFRS 9, the Company determined that its business model for managing short term investments is to hold the investments for cash flow collection and this is congruent with the classification of financial assets held at amortized cost outlined in IFRS 9. As a result, on January 1, 2018, the Company has reclassified short term investments originally held as available for sale at December 31, 2017 to short term investments held at amortized cost without restating comparative information. For further information regarding the adoption of IFRS 9 see note 3.
The Company's classification of short term investments is as noted below:
 
Amortized Cost

Fair Value

Fair Value

 
2018
$

2018
$

2017
$

Amortized cost
 
 
 
Canadian Government Bond
3,912

3,902


Bank of Nova Scotia Treasury Note
3,977

3,955


Available for sale (fair value)
 
 
 
Canadian Government Bond


3,888

Bank of Nova Scotia Treasury Note


3,945

 
7,889

7,856

7,833


The average duration of the interest-bearing securities is 1.69 years and the average yield to maturity is 1.64%.
For the year ended December 31, 2017 short term investments held at fair value were classified as Level 2 in the fair value hierarchy and the fair value was determined by using quoted market prices.