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Long-term debt (Tables) | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long Term Debt | Long-term debt consists of the following:
Borrowing type |  |  |  |  |  |  |  |  |  | Weighted average coupon |  | Maturity |  | Par value |  | June 30, |  | December 31,
|  |  |  |  |  |  |  |  |  |  | 2024 |  | 2023
Senior unsecured revolving credit facilities (a) |  |  |  |  |  |  |  |  |  | — |  |  | 2024-2028 |  | N/A |  | $ | 668,876 |  |  | $ | 1,624,186 |
Senior unsecured bank credit facilities and delayed draw term facility (b) |  |  |  |  |  |  |  |  |  | — |  |  | 2024-2031 |  | N/A |  | 789,216 |  |  | 786,962 |
Commercial paper |  |  |  |  |  |  |  |  |  | — |  |  | 2025 |  | N/A |  | 33,000 |  |  | 481,720 |
U.S. dollar borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior unsecured notes (Green Equity Units) (c) |  |  |  |  |  |  |  |  |  | 5.37 | % |  | 2026 |  | $ | 1,140,787 |  |  | 1,135,137 |  |  | 1,144,897 |
Senior unsecured notes (d) |  |  |  |  |  |  |  |  |  | 4.25 | % |  | 2027-2047 |  | $ | 2,195,000 |  |  | 2,181,669 |  |  | 1,406,278 |
Senior unsecured utility notes |  |  |  |  |  |  |  |  |  | 6.30 | % |  | 2025-2035 |  | $ | 137,000 |  |  | 146,623 |  |  | 147,589 |
Senior secured utility bonds (e) |  |  |  |  |  |  |  |  |  | 4.82 | % |  | 2026-2044 |  | $ | 861,681 |  |  | 850,773 |  |  | 551,166 |
Construction loan (f) |  |  |  |  |  |  |  |  |  | 6.57 | % |  | 2024 |  | $ | 163,735 |  |  | 163,735 |  |  | — |
Canadian dollar borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior unsecured notes |  |  |  |  |  |  |  |  |  | 3.68 | % |  | 2027-2050 |  | C$ | 1,200,000 |  |  | 873,025 |  |  | 904,604 |
Senior secured project notes |  |  |  |  |  |  |  |  |  | 10.21 | % |  | 2027 |  | C$ | 15,097 |  |  | 11,030 |  |  | 12,738 |
Chilean Unidad de Fomento borrowings |  |  |  |  |  |  |  |
Senior unsecured utility bonds |  |  |  |  |  |  |  |  |  | 3.82 | % |  | 2028-2040 |  | CLF | 1,463 |  |  | 64,026 |  |  | 70,967 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,917,110 |  |  | $ | 7,131,107 |
Subordinated borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subordinated unsecured notes |  |  |  |  |  |  |  | 5.25 | % |  | 2082 |  | C$ | 400,000 |  |  | $ | 288,459 |  |  | $ | 298,382 |
Subordinated unsecured notes |  |  |  |  |  |  |  | 5.21 | % |  | 2079-2082 |  | $ | 1,100,000 |  |  | 1,087,080 |  |  | 1,086,541 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,375,539 |  |  | $ | 1,384,923 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 8,292,649 |  |  | $ | 8,516,030 |
Less: current portion |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (158,278) |  |  | (621,856) |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 8,134,371 |  |  | $ | 7,894,174 |
The following table sets out the bank credit facilities available to AQN and its operating groups:
|  |  |  |  |  |  | June 30, |  | December 31,
|  |  |  |  |  |  | 2024 |  | 2023
Revolving and term credit facilities |  |  |  |  |  |  | $ | 4,589,200 |  |  | $ | 4,562,000 |
Funds drawn on facilities/commercial paper issued |  |  |  |  |  |  | (1,491,100) |  |  | (2,892,900) |
Letters of credit issued |  |  |  |  |  |  | (461,900) |  |  | (469,100) |
Liquidity available under the facilities |  |  |  |  |  |  | 2,636,200 |  |  | 1,200,000 |
Undrawn portion of uncommitted letter of credit facilities |  |  |  |  |  |  | (254,600) |  |  | (254,100) |
Cash on hand |  |  |  |  |  |  | 131,633 |  |  | 56,142 |
Total liquidity and capital reserves |  |  |  |  |  |  | $ | 2,513,233 |  |  | $ | 1,002,042 |
Schedule of Interest Expense | interest expenses recognized for the three and six months ended June 30, 2024 and 2023 co nsist of the following:
| Three months ended |  | Six months ended
| June 30 |  | June 30
| 2024 |  | 2023 |  | 2024 |  | 2023
Long-term debt | $ | 73,169 |  |  | $ | 65,046 |  |  | $ | 139,881 |  |  | $ | 128,814 |
Commercial paper, credit facility draws and related fees | 39,299 |  |  | 27,714 |  |  | 82,412 |  |  | 52,140 |
Accretion of fair value adjustments | (5,094) |  |  | (824) |  |  | (10,956) |  |  | (4,223) |
Capitalized interest and AFUDC capitalized on regulated property | (2,269) |  |  | (4,420) |  |  | (5,661) |  |  | (8,304) |
Other | 682 |  |  | 2,147 |  |  | 2,635 |  |  | 3,154 |
| $ | 105,787 |  |  | $ | 89,663 |  |  | $ | 208,311 |  |  | $ | 171,581 |

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