notes to the Consolidated Financial Statements (cont’d) As at January 1, 2011 Financial asset  Financial  Items  Total at fair value through  Loans and  liabilities at  accounted for  carrying (Amounts in $000s) profit and loss  receivables amortized cost  as hedges  amount Cash and cash equivalents  $   598 $   – $   – $   – $   598  Accounts receivable   –  50,452  –  –  50,452  Other financial assets   –  –  –  890  890  Bank loans   –  –  42,725  –  42,725  Accounts payable and accrued liabilities   –  –  60,065  –  60,065  Provisions   –  –  550  –  550  Other financial liabilities   –  –  –  2,334  2,334  Other long-term financial liabilities   –  –  –  207  207  Long-term debt   –  –  48,338  –  48,338  As at January 3, 2010 Financial asset  Financial  Items  Total at fair value through  Loans and  liabilities at  accounted for  carrying (Amounts in $000s) profit and loss  receivables amortized cost  as hedges  amount Cash and cash equivalents  $   1,953 $   – $   – $   – $   1,953  Accounts receivable   –  57,963  –  –  57,963  Other financial assets   –  –  –  1,590  1,590  Bank loans   –  –  23,051  –  23,051  Accounts payable and accrued liabilities   –  –  49,905  –  49,905  Provisions   –  –  1,423  –  1,423  Other financial liabilities   –  –  –  3,989  3,989  Other long-term financial liabilities   –  –  –  928  928  Long-term debt   –  –  54,502  –  54,502  intereSt rateS uSed for determining fair value The interest rates used to discount the estimated cash flows, when applicable, are based on the government yield curve at the  reporting date plus an adequate credit spread and were as follows: December 31, 2011 January 1, 2011  January 3, 2010 Bank loans  3.10% 2.27%  1.56% Long-term debt  7.00% 2.30%  4.08% Capital lease obligations  5.90% 5.62%  5.66% In the fifty two-week period ended December 31, 2011, the Company expensed $127 thousand and $306 thousand (January 1, 2011: $457 thousand and $165 thousand) of short-term and long-term interest, respectively, relating to interest that was calculated using  the effective interest rate method relating to its transaction fees and its borrowings.  The Company systematically enters into foreign exchange contracts, with maturities of 15 months or less, to hedge future cash  outflows for the purchase of raw materials. The Company uses hedge accounting to account for these foreign exchange contracts.  At period-end, the Company had the following total foreign exchange forward single rate contracts outstanding: amortized coSt impact on intereSt expenSe forward exchange contractS  December 31, 2011 Sell  Receive CAD$  US$ Forward rate  $ 5,327,982  $ 5,294,465 95 AnnuAl RepoRt 2011