Orbit Garant 2012 annual rep O rt 59 The changes in the contingent considerations are detailed below: June 30 June 30 2012 2011 $ $ Balance at beginning of year 2,130 — Business acquisitions (note 2) 2,119 2,014 Change in fair value of contingent considerations 107 116 Balance at end of year 4,356 2,130 There were no transfers of amounts between Level 1, Level 2 and Level 3 fnancial instruments for the year ended June 30, 2012 and 2011. Liquidity risk Liquidity risk arises from the Company’s management of working capital, the fnance charges and principal repayments on its debt instruments. It is the risk that the Company will not be able to meet its fnancial obligations as they fall due. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by c ontinuously monitoring forecast and actual cash fows and matching the maturity profles of fnancial assets and liabilities. In Note 13 are details of undrawn facilities that the Company has at its disposal to further reduce liquidity risk. As at June 30, 2012 Total 0–1 year 2–3 years 4–5 years $ $ $ $ Accounts payable and accrued liabilities 20,206 20,206 — — Contingent considerations 4,800 1,600 3,200 — Long-term debt (capital only) 26,582 401 316 25,865 51,588 22,207 3,516 25,865 As at June 30, 2011 Total 0–1 year 2–3 years 4–5 years $ $ $ $ Bank overdraft 698 698 — — Accounts payable and accrued liabilities 19,009 19,009 — — Contingent consideration 2,400 800 1,600 — Long-term debt (capital only) 15,117 168 55 14,894 37,224 20,675 1,655 14,894 As at July 1, 2010 Total 0–1 year 2–3 years 4–5 years $ $ $ $ Accounts payable and accrued liabilities 17,158 17,158 — — Long-term debt (capital only) 375 203 172 — 17,533 17,361 172 —