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COMMITMENTS AND CONTINGENT LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2021
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract] |
Disclosure of maturity analysis for commitments | Below is a summary of the undiscounted contractual maturities of our financial liabilities and the receivable components of our derivatives as at December 31, 2021 and 2020.
December 31, 2021 | Carrying |  | Contractual | Less than | 1 to 3 | 4 to 5 | More than
(In millions of dollars) | amount |  | cash flows | 1 year | years | years | 5 years
Short-term borrowings | 2,200 |  |  | 2,200 |  | 2,200 |  | — |  | — |  | — |
Accounts payable and accrued liabilities | 3,416 |  |  | 3,416 |  | 3,416 |  | — |  | — |  | — |
Long-term debt 1 | 18,688 |  |  | 18,873 |  | 1,551 |  | 2,312 |  | 3,520 |  | 11,490 |
Lease liabilities | 1,957 |  |  | 2,498 |  | 336 |  | 677 |  | 308 |  | 1,177 |
Other long-term financial liabilities | 14 |  |  | 14 |  | — |  | 7 |  | 2 |  | 5 |
Expenditure derivative instruments: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 1,374 |  | 1,240 |  | 134 |  | — |  | — |
Cash inflow (Canadian dollar equivalent of US dollar) | — |  |  | (1,354) |  | (1,217) |  | (137) |  | — |  | — |
Equity derivative instruments | — |  |  | (36) |  | (36) |  | — |  | — |  | — |
Debt derivative instruments accounted for as hedges: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 11,313 |  | 1,297 |  | 1,504 |  | 1,607 |  | 6,905 |
Cash inflow (Canadian dollar equivalent of US dollar) 2 | — |  |  | (11,717) |  | (1,084) |  | (1,822) |  | (1,521) |  | (7,290) |
Debt derivative instruments not accounted for as hedges: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 1,390 |  | 1,390 |  | — |  | — |  | — |
Cash inflow (Canadian dollar equivalent of US dollar) 2 | — |  |  | (1,401) |  | (1,401) |  | — |  | — |  | — |
Interest rate derivatives | — |  |  | 243 |  | 243 |  | — |  | — |  | — |
Net carrying amount of derivatives (asset) | (895) |  |  |  |  |  |  |
| 25,380 |  |  | 26,813 |  | 7,935 |  | 2,675 |  | 3,916 |  | 12,287 |
1 Reflects repayment of the subordinated notes issued in December 2021 on the five-year anniversary. 2 Represents Canadian dollar equivalent amount of US dollar inflows matched to an equal amount of US dollar maturities in long-term debt for debt derivatives.
December 31, 2020 | Carrying |  | Contractual | Less than | 1 to 3 | 4 to 5 | More than
(In millions of dollars) | amount |  | cash flows | 1 year | years | years | 5 years
Short-term borrowings | 1,221 |  |  | 1,221 |  | 1,221 |  | — |  | — |  | — |
Accounts payable and accrued liabilities | 2,714 |  |  | 2,714 |  | 2,714 |  | — |  | — |  | — |
Long-term debt | 18,201 |  |  | 18,373 |  | 1,450 |  | 3,274 |  | 1,490 |  | 12,159 |
Lease liabilities | 1,835 |  |  | 2,353 |  | 278 |  | 647 |  | 300 |  | 1,128 |
Other long-term financial liabilities | 22 |  |  | 22 |  | — |  | 14 |  | 2 |  | 6 |
Expenditure derivative instruments: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 2,134 |  | 1,305 |  | 829 |  | — |  | — |
Cash inflow (Canadian dollar equivalent of US dollar) | — |  |  | (2,024) |  | (1,222) |  | (802) |  | — |  | — |
Equity derivative instruments | — |  |  | (34) |  | (34) |  | — |  | — |  | — |
Debt derivative instruments accounted for as hedges: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 11,114 |  | 86 |  | 2,516 |  | 937 |  | 7,575 |
Cash inflow (Canadian dollar equivalent of US dollar) 1 | — |  |  | (11,702) |  | (81) |  | (2,772) |  | (891) |  | (7,958) |
Debt derivative instruments not accounted for as hedges: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 585 |  | 585 |  | — |  | — |  | — |
Cash inflow (Canadian dollar equivalent of US dollar) 1 | — |  |  | (573) |  | (573) |  | — |  | — |  | — |
Net carrying amount of derivatives (asset) | (1,011) |  |  |  |  |  |  |
| 22,982 |  |  | 24,183 |  | 5,729 |  | 3,706 |  | 1,838 |  | 12,910 |
1 Represents Canadian dollar equivalent amount of US dollar inflows matched to an equal amount of US dollar maturities in long-term debt for debt derivatives. Below is a summary of the principal repayments on our long-term debt due in each of the next five years and thereafter as at December 31, 2021.
(In millions of dollars) |
2022 | 1,551 |
2023 | 1,712 |
2024 | 600 |
2025 | 886 |
2026 1 | 2,634 |
Thereafter | 11,490 |
Total long-term debt | 18,873 |
1 Reflects repayment of the subordinated notes issued in December 2021 on the five-year anniversary. Below is a summary of the future minimum payments for our contractual commitments that are not recognized as liabilities as at December 31, 2021.
| Less than |  |  | After |
(In millions of dollars) | 1 Year | 1-3 Years | 4-5 Years | 5 Years | Total
Player contracts 1 | 129 |  | 204 |  | 222 |  | — |  | 555 |
Purchase obligations 2 | 327 |  | 192 |  | 85 |  | 19 |  | 623 |
Program rights 3 | 659 |  | 1,151 |  | 824 |  | 1 |  | 2,635 |
Total commitments | 1,115 |  | 1,547 |  | 1,131 |  | 20 |  | 3,813 |
1 Toronto Blue Jays players' salary contracts into which we have entered and are contractually obligated to pay. 2 Contractual obligations under service, product, and wireless device contracts to which we have committed. 3 Agreements into which we have entered to acquire broadcasting rights for sports broadcasting programs and films for periods in excess of one year at contract inception.
Disclosure of commitments | Below is a summary of our other contractual commitments that are not included in the table above.
|  | As at December 31
(In millions of dollars) |  | 2021
Acquisition of property, plant and equipment |  | 209 |
Acquisition of intangible assets |  | 21 |
Our share of commitments related to associates and joint ventures |  | 387 |
Total other commitments |  | 617 |

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