XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.21.1

Bonds Payable | 12 Months Ended
--- | ---
Dec. 31, 2020
Debt Disclosure [Abstract] |
Bonds Payable | Bonds Payable We have issued three series of nonconvertible bonds ("Bonds') through SPC, which are traded on the TASE. The Bonds are denominated in New Israeli Shekels ("NIS") and provide for semiannual principal and interest payments through maturity. On February 2, 2020, the S&P Global Ratings of our Series A and Series C bonds increased to 'ilA-' from 'ilBBB+'. In addition, the rating on our Series C bonds increased to 'ilA' from 'ilA-' rating due to the expectation of continued improvement in coverage ratios and the expansion of our portfolio. In connection with the Bonds, we incurred a (loss) gain on foreign currency transactions of $(13,378), $(15,108), and $12,399, for the years ended December 31, 2020, 2019 and 2018, respectively. From September 23, 2019 to December 31, 2019, we had hedging agreement that effectively prevented the exchange rate for the NIS to the U.S. Dollar from falling below three. The outstanding balance of our Bonds at December 31, 2020 and 2019 is as follows:
|  | December 31, |  |  |  |
Bond Issuance |  | 2020 |  | 2019 |  | Interest Rate |  | Maturity
Series A Bonds(1)(2) |  | 95,133 |  |  | 92,653 |  |  | 7.30 | % |  | 7/31/23
Series B Bonds(3) |  | 65,318 |  |  | 60,764 |  |  | 6.80 | % |  | 7/31/25
Series C Bonds(2) |  | 85,537 |  |  | 79,572 |  |  | 4.65 | % |  | 1/31/23
|  | 245,988 |  |  | 232,989 |  |  |  |  |
Less unamortized deferred issuance costs |  | (8,100) |  |  | (9,724) |  |  |  |  |
|  | 237,888 |  |  | 223,265 |  |  |  |  |
(1) On November 30, 2020, we issued $19,693 in additional bonds for $18,822 in net proceeds. (2) The bonds are collateralized by the assets of SPC. (3) The bonds are collateralized by a trust deed in Browning Place, a 625,297 square foot office building in Farmers Branch, Texas. The aggregate maturities of our Bonds are as follows:
Year |  | Amount
2021 |  | $ | 44,775 |
2022 |  | 44,775 |
2023 |  | 130,310 |
2024 |  | 13,064 |
2025 |  | 13,064 |
|  | $ | 245,988 |
As of December 31, 2020, we were in compliance with our bond covenants.

X
- Definition Disclosure of bonds and bonds interest payable. + References No definition available. + Details
Name: | arl_BondsPayableTextBlock
Namespace Prefix: | arl_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration