credit riSk liquidity riSk The Company trades only with recognized, creditworthy third parties. It is the Company’s policy that all customers who wish to trade  on credit terms are subject to credit verification procedures. In addition, receivable balances are managed and monitored at the  corporate level on an ongoing basis with the result that the Company’s exposure to bad debts is not significant. The Company’s top  ten customers account for 47% (January 1, 2011: 57%; January 3, 2010: 57%) of the trade receivables at year end with the largest  customer accounting for 15% (January 1, 2011: 13%; January 3, 2010: 11%). Five out of ten, for the current and the preceding two  periods: (January 1, 2011 and January 3, 2010) of the customers are investment grade with two being substantial private enterprises.  The Company does not purchase credit insurance on its trade accounts receivable. With respect to credit risk arising from the other financial assets of the Company, which comprise cash and cash equivalents and  certain derivative instruments, the Company’s exposure to credit risk arises from default of the counterparty. The Company manages  this by dealing with financially creditworthy counterparties, such as Chartered Canadian banks and U.S. banks with investment grade ratings. The maximum exposure to credit risk is equal to the carrying value of accounts receivable and its derivative instruments.  The Company monitors its risk to a shortage of funds using a detailed budgeting process that identifies financing needs for the next  12 months. Working capital and cash balances are monitored daily and a procurement system provides information on commitments.  This process projects cash flows from operations. The Company’s objective is to maintain a balance between continuity of funding  and flexibility through the use of bank overdrafts, letters of credit, bank loans, notes payable, and finance leases. The Company’s  objective is that not more than 50% of borrowings should mature in the next 12-month period. Approximately 1.0% (January 1, 2011:  10%; January 3, 2010: 7%) of the Company’s long-term debt will mature in less than one year at December 31, 2011 based on the  carrying value of borrowings reflected in the financial statements. At December 31, 2011, the Company was in compliance with all  covenants and terms of its debt facilities. The table below shows the maturities of the Company’s non-derivative financial liabilities.  100 HIGH lIneR FooDS InCoRpoRAteD Bank  Accounts Long-term  Finance lease As at December 31, 2011  loans  payable  debt  obligations  Total Due within 1 year $   – $   108,553 $   2,543  $  1,064 $   112,160  Due in 1–3 years  –  –  11,441  1,410   12,851  Due in 3–5 years  121,975  –  15,256  1,044  138,275  Thereafter  –  –  225,010  145  225,155  $   121,975 $   108,553 $   254,250 $   3,663 $   488,441  As at January 1, 2011  Due within 1 year  $   – $   60,065 $   4,426 $   972 $   65,463  Due in 1–3 years   43,027  –  44,215  1,886  89,128  Due in 3–5 years   – –  –  1,159  1,159  $   43,027 $   60,065 $   48,641 $   4,017 $   155,750  As at January 3, 2010  Due within 1 year  $  – $   49,905 $   4,582 $   864 $   55,351  Due in 1–3 years   23,113  –  50,352 1,961  75,426  Due in 3–5 years   –  –  – 739  739  $   23,113 $   49,905 $   54,934 $   3,564 $   131,516  (Amounts in $000s)