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Investment Property
12 Months Ended
Dec. 31, 2022
Investment Property,  
Investment Property

Note 10. Investment Property

All of the Group’s investment property is located in Europe and forms part of the security granted in connection with bonds issued by a subsidiary of the Group (see Note 15).

Changes in investment property included in non-current assets:

    

2022

    

2021

Balance, beginning of year

$

34,430

$

36,908

Change in fair value during the year

 

49

 

407

Disposals

 

(2,643)

 

(7)

Currency translation adjustments

 

14

 

(2,878)

Balance, end of year

$

31,850

$

34,430

The amounts recognized in profit or loss in relation to investment property during the years ended December 31, 2022, 2021 and 2020 were as follows:

Years ended December 31:

    

2022

    

2021

    

2020

Rental income

$

1,356

$

1,381

$

1,376

Direct operating expenses (including repairs and maintenance) arising from investment property during the year

 

324

709

216