LONG-TERM DEBT AND CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2019


		December 31, 2019								December 31, 2018
				Deferred
		Nominal		Financing		Carrying		Fair		Carrying		Fair
	Interest Rates	Amount		Costs		Amount (a)		Value (b)		Amount (a)		Value (b)

Senior notes	(i) 4.50%-6.875%	$	1,747.0	$	(9.6)	$	1,737.4	$	1,881.9	$	1,735.0	$	1,668.8
Revolving credit facility	(ii) LIBOR plus 1.625%		100.0		—		100.0		100.0		—		—
Long-term debt and credit facility		$	1,847.0	$	(9.6)	$	1,837.4	$	1,981.9	$	1,735.0	$	1,668.8

(a)

Includes transaction costs on senior notes financings.

(b)

The fair value of senior notes is primarily determined using quoted market determined variables. See Note 10(c).

(a)

Subsequent to December 31, 2019, the Company repaid $100.0 million on the revolving credit facility.


Type of credit
Revolving credit facility	LIBOR plus		1.625	%
Letters of credit	1.0833	-	1.625	%
Standby fee applicable to unused availability			0.325	%


	Long-term		Lease		Accrued interest
	debt		liabilities (a)		payable(b)		Total
Balance as at January 1, 2019(a)	$	1,735.0	$	42.9	$	33.3	$	1,811.2
Changes from financing cash flows
Debt issued		300.0		—		—		300.0
Debt repayments		(200.0)		—		—		(200.0)
Interest paid		—		—		(55.6)		(55.6)
Payment of lease liabilities		—		(14.3)		—		(14.3)
		1,835.0		28.6		(22.3)		1,841.3
Other changes
Interest expense and accretion	$	—	$	—	$	74.0	$	74.0
Capitalized interest		—		—		47.4		47.4
Capitalized interest paid		—		—		(45.0)		(45.0)
Additions of lease liabilities		—		22.9		—		22.9
Accretion of lease liabilities		—		2.9		—		2.9
Other cash changes		—		—		(10.0)		(10.0)
Other non-cash changes		2.4		0.5		(10.8)		(7.9)
		2.4		26.3		55.6		84.3
Balance as at December 31, 2019	$	1,837.4	$	54.9	$	33.3	$	1,925.6

(a)

Total lease liabilities of $42.9 million was recognized upon the initial application of IFRS 16 as of January 1, 2019. See Note 4.

(a)

Included in Accounts payable and accrued liabilities.


	Long-term		Lease		Accrued interest
	debt		liabilities		payable(a)		Total
Balance as at January 1, 2018	$	1,732.6	$	—	$	33.8	$	1,766.4
Changes from financing cash flows
Debt issued		80.0		—		—		80.0
Debt repayments		(80.0)		—		—		(80.0)
Interest paid		—		—		(57.9)		(57.9)
		1,732.6		—		(24.1)		1,708.5
Other changes
Interest expense and accretion	$	—	$	—	$	72.1	$	72.1
Capitalized interest		—		—		41.5		41.5
Capitalized interest paid		—		—		(38.2)		(38.2)
Other cash changes		—		—		(9.9)		(9.9)
Other non-cash changes		2.4		—		(8.1)		(5.7)
		2.4		—		57.4		59.8
Balance as at December 31, 2018	$	1,735.0	$	—	$	33.3	$	1,768.3

(a)

Included in Accounts payable and accrued liabilities.