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COMMITMENTS AND CONTINGENT LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2022
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, 2022 and 2021.
December 31, 2022 | 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 | 2,985 |  |  | 2,985 |  | 2,985 |  | — |  | — |  | — |
Accounts payable and accrued liabilities | 3,722 |  |  | 3,722 |  | 3,722 |  | — |  | — |  | — |
Long-term debt 1 | 31,733 |  |  | 32,855 |  | 1,828 |  | 4,152 |  | 6,954 |  | 19,921 |
Lease liabilities | 2,028 |  |  | 2,616 |  | 362 |  | 716 |  | 320 |  | 1,218 |
Other long-term financial liabilities | 10 |  |  | 10 |  | — |  | 3 |  | 2 |  | 5 |
Expenditure derivative instruments: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 1,200 |  | 1,200 |  | — |  | — |  | — |
Cash inflow (Canadian dollar equivalent of US dollar) | — |  |  | (1,300) |  | (1,300) |  | — |  | — |  | — |
Equity derivative instruments | — |  |  | (54) |  | (54) |  | — |  | — |  | — |
Debt derivative instruments accounted for as hedges: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 20,221 |  | 1,543 |  | 2,382 |  | 3,295 |  | 13,001 |
Cash inflow (Canadian dollar equivalent of US dollar) 2 | — |  |  | (22,131) |  | (1,986) |  | (2,470) |  | (3,454) |  | (14,221) |
Debt derivative instruments not accounted for as hedges: |  |  |  |  |  |  |
Cash outflow (Canadian dollar) | — |  |  | 215 |  | 215 |  | — |  | — |  | — |
Cash inflow (Canadian dollar equivalent of US dollar) 2 | — |  |  | (215) |  | (215) |  | — |  | — |  | — |
Net carrying amount of derivatives (asset) | (1,136) |  |  |  |  |  |  |
| 39,342 |  |  | 40,124 |  | 8,300 |  | 4,783 |  | 7,117 |  | 19,924 |
1 Reflects repayment of the subordinated notes issued in December 2021 and February 2022 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, 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. 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, 2022.
(In millions of dollars) |
2023 | 1,828 |
2024 | 600 |
2025 | 3,552 |
2026 | 3,693 |
2027 1 | 3,261 |
Thereafter | 19,921 |
Total long-term debt | 32,855 |
1 Reflects repayment of the subordinated notes issued in December 2021 and February 2022 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, 2022.
| Less than |  |  | After |
(In millions of dollars) | 1 Year | 1-3 Years | 4-5 Years | 5 Years | Total
Player contracts 1 | 170 |  | 183 |  | 119 |  | 33 |  | 505 |
Purchase obligations 2 | 333 |  | 299 |  | 130 |  | 156 |  | 918 |
Program rights 3 | 694 |  | 1,199 |  | 421 |  | 346 |  | 2,660 |
Total commitments | 1,197 |  | 1,681 |  | 670 |  | 535 |  | 4,083 |
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) |  | 2022
Acquisition of property, plant and equipment |  | 192 |
Acquisition of intangible assets |  | 2 |
Our share of commitments related to associates and joint ventures |  | 320 |
Total other commitments |  | 514 |

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