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LONG-TERM DEBT AND CREDIT FACILITIES (Tables) | 12 Months Ended
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Dec. 31, 2017
LONG-TERM DEBT AND CREDIT FACILITIES |
Schedule of long-term debt |
|  |  |  | December 31, 2017 |  | December 31, 2016 |
|  | Interest Rates |  | Nominal Amount |  | Deferred Financing Costs |  | Carrying Amount (a) |  | Fair Value (b) |  | Carrying Amount (a) |  | Fair Value (b) |
Corporate term loan facility | (i) |  | Variable |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 497.4 |  | $ | 497.4 |
Senior notes | (ii) |  | 4.50%-6.875% |  | 1,745.7 |  | (13.1 | ) | 1,732.6 |  | 1,848.4 |  | 1,235.8 |  | 1,245.7 |
Long-term debt |  |  |  |  | $ | 1,745.7 |  | $ | (13.1 | ) | $ | 1,732.6 |  | $ | 1,848.4 |  | $ | 1,733.2 |  | $ | 1,743.1 |
| (a) |  | Includes transaction costs on debt financings.
| (b) |  | The fair value of debt is primarily determined using quoted market determined variables. See Note 10 (c).
Schedule of scheduled debt repayments |
|  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 and thereafter |  | Total |
Senior notes |  | $ | — |  | $ | — |  |  |  | $ | 500.0 |  | $ | — |  | $ | 1,250.0 |  | $ | 1,750.0 |
Total debt payable |  | $ | — |  | $ | — |  | $ | — |  | $ | 500.0 |  | $ | — |  | $ | 1,250.0 |  | $ | 1,750.0 |
Schedule of interest charges and fees | Based on the Company’s credit rating at December 31, 2017, interest charges and fees are as follows:
Type of credit |  |  |
Dollar based LIBOR loan: |  |  |
Revolving credit facility |  | LIBOR plus 2.00% |
Letters of credit |  | 1.33-2.00% |
Standby fee applicable to unused availability |  | 0.40 | %
Schedule of changes in liabilities arising from financing activities |
|  |  |  | Year ended December 31, 2017 |  |  |
|  |  |  | Changes from financing cash flows |  | Other changes |  |  |
|  | Balance as at January 1, 2017 |  | Debt issued |  | Debt repayments |  | Interest paid |  | Other |  | Interest expense |  | Capitalized interest |  | Capitalized interest paid |  | Other cash changes |  | Other non- cash changes |  | Balance as at December 31, 2017 |
Long-term debt |  | $ | 1,733.2 |  | $ | 494.7 |  | $ | (500.0 | ) | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | — |  | $ | 4.7 |  | $ | 1,732.6 |
Accrued interest payable (a) |  | 23.4 |  | — |  | — |  | (62.9 | ) | — |  | 86.5 |  | 25.1 |  | (18.0 | ) | (12.0 | ) | (8.3 | ) | 33.8 |
|  | $ | 1,756.6 |  | $ | 494.7 |  | $ | (500.0 | ) | $ | (62.9 | ) | $ | — |  | $ | 86.5 |  | $ | 25.1 |  | $ | (18.0 | ) | $ | (12.0 | ) | $ | (3.6 | ) | $ | 1,766.4 |
| (a) |  | Included in Accounts Payable and Accrued Liabilities.
|  |  |  | Year ended December 31, 2016 |  |  |
|  |  |  | Changes from financing cash flows |  | Other changes |  |  |
|  | Balance as at January 1, 2016 |  | Debt issued |  | Debt repayments |  | Interest paid |  | Other |  | Interest expense |  | Capitalized interest |  | Capitalized interest paid |  | Other cash changes |  | Other non- cash changes |  | Balance as at December 31, 2016 |
Long-term debt |  | $ | 1,981.4 |  | $ | 175.0 |  | $ | (425.0 | ) | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | (1.2 | ) | $ | 3.0 |  | $ | 1,733.2 |
Accrued interest payable (a) |  | 26.7 |  | — |  | — |  | (73.5 | ) | — |  | 100.4 |  | 15.2 |  | (21.8 | ) | (12.3 | ) | (11.3 | ) | 23.4 |
|  | $ | 2,008.1 |  | $ | 175.0 |  | $ | (425.0 | ) | $ | (73.5 | ) | $ | — |  | $ | 100.4 |  | $ | 15.2 |  | $ | (21.8 | ) | $ | (13.5 | ) | $ | (8.3 | ) | $ | 1,756.6 |
| (a) |  | Included in Accounts Payable and Accrued Liabilities.

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