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Non-Controlling Interest in Subsidiaries

12 Months Ended

Dec. 31, 2017

Non-Controlling Interest in Subsidiaries [Abstract]

Noncontrolling Interest Disclosure [Text Block]

29. NON-CONTROLLING INTEREST IN SUBSIDIARIES
Non-controlling interest in subsidiaries consisted of the following:
As at	December 31		December 31
millions of Canadian dollars		2017		2016
ICDU	$	52	$	53
Preferred shares of GBPC		19		34
Domlec		21		25
	$	92	$	112

Preferred shares of GBPC:
Authorized:
35,000 non-voting cumulative redeemable variable perpetual preferred shares
	2017			2016
Issued and outstanding:	number of shares		millions of dollars	number of shares		millions of dollars
Outstanding as at December 31	20,000	$	19	35,000	$	34

GBPC Non–Voting Cumulative Variable Perpetual Preferred Stock:

On December 12, 2017, GBPC redeemed 15,000 perpetual preferred shares at $1,000 Bahamian per share.

The Preferred Stock is redeemable by GBPC, in whole at any time or in part from time to time, at $1,000 Bahamian per share plus accrued and unpaid dividends.

The Preferred Stock is entitled to a 7.25 per cent per annum fixed cumulative preferential dividend for years 2013 through 2016, 8.50 per cent per annum fixed cumulative preferential dividend for years 2017 through 2019 and 10.00 per cent per annum fixed cumulative preferential dividend after 2020, as and when declared by the Board of Directors, accruing from the date of issue.

The Preferred Shares rank behind all of GBPC’s current and future secured and unsecured debt with any of GBPC’s future preferred stock and ahead of all of GBPC’s current and future common stock.

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI http://asc.fasb.org/topic&trid=2197479

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- References

No definition available.

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