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Credit Facilities, Long-Term Debt and Lease Liabilities (Tables)
 12 Months Ended
Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]  
Disclosure of borrowings outstanding
The amounts outstanding are as follows:
As at Dec. 3120212020
 SegmentMaturityCurrencyCarrying
value		Face
value
Interest(1)
Carrying
value		Face
value		Interest
Credit facilities
Committed syndicated
   bank facility(2)
Corporate2025CAD— — — %114 114 2.7 %
Debentures
7.3% Medium term notes
Corporate2029CAD110 110 7.3 %109 110 7.3 %
6.9% Medium term notes
Corporate2030CAD141 141 6.9 %140 141 6.9 %
Senior notes(3)
6.5% Senior notes
Corporate2040USD378 383 6.5 %380 383 6.5 %
4.5% Senior notes
Corporate2022USD510 511 4.5 %506 511 4.5 %
Non-recourse
Melancthon Wolfe Wind LP
   bond		Wind & Solar2028CAD235 237 3.8 %268 270 3.8 %
New Richmond Wind LP
  bond		Wind & Solar2032CAD120 121 4.0 %127 128 4.0 %
Kent Hills Wind LP bond(4)
Wind & Solar2033CAD221 221 4.5 %230 233 4.5 %
Windrise Wind LP bondWind & Solar2041CAD171 173 3.4 %— — — %
Pingston bondHydro2023CAD45 45 3.0 %45 45 3.0 %
TAPC Holdings LP bond
  (Poplar Creek)
Gas2030CAD102 104 4.4 %111 113 4.5 %
TEC Hedland PTY Ltd bond(5)
Gas2042AUD732 742 4.1 %772 782 4.1 %
TransAlta OCP LP bondGas2030CAD263 265 4.5 %284 287 4.5 %
Tax equity financing
Big Level & Antrim(6)
Wind & Solar2029USD106 112 6.6 %112 119 6.6 %
Lakeswind(7)
Wind & Solar2029USD18 18 10.5 %22 22 10.5 %
North Carolina Solar(8)
Wind & Solar2028USD11 11 7.3 %— — — 
OtherCorporate2023CAD4 4 5.9 %7 6 5.9 %
Total long-term debt3,167 3,198  3,227 3,264  
Lease liabilities100   134   
 3,267   3,361   
Less: current portion of long-term debt(837)  (97)  
Less: current portion of lease liabilities(7)  (8)  
Total current long-term debt and lease liabilities(844)  (105)  
Total credit facilities, long-term debt and lease liabilities2,423   3,256   
(1) Interest is before the effect of hedging.
(2) Composed of bankers’ acceptances and other commercial borrowings under long-term committed credit facilities.
(3) US face value at Dec. 31, 2021 — US$700 million (Dec. 31, 2020 — US$700 million).
(4) Kent Hills Wind LP bond is classified as a current liability. Refer to section B - Restrictions Related to Non-Recourse Debt and Other Debt, for more information.
(5) AU face value at Dec. 31, 2021 — AU$800 million related to the TEC offering (2020 — AU$800 million).
(6) US face value at Dec. 31, 2021 — US$88 million (2020 — US$94 million).
(7) US face value at Dec. 31, 2021 — US$14 million (2020 — US$16 million).
(8) US face value at Dec. 31, 2021 — US$9 million (2020 — nil).
The Company's credit facilities are summarized in the table below:
As at Dec. 31, 2021Facility
size		UtilizedAvailable
capacity		Maturity
date
Outstanding letters of credit(1)
Actual drawings
TransAlta Corporation
Committed syndicated bank facility(2)
1,250 618 — 632 Q2 2025
Canadian committed bilateral credit facilities240 186 — 54 Q2 2023
TransAlta Renewables
Committed credit facility(2)
700 98 — 602 Q2 2025
Total2,190 902 — 1,288 
(1) TransAlta has obligations to issue letters of credit and cash collateral to secure potential liabilities to certain parties, including those related to potential environmental obligations, commodity risk management and hedging activities, pension plan obligations, construction projects and purchase obligations. At Dec. 31, 2021, TransAlta provided cash collateral of $55 million.
(2) Includes letters of credit issued under the demand facilities for TransAlta and TransAlta Renewables.
Disclosure of principal repayments
 
2022(1)
20232024202520262027 and thereafterTotal
Principal repayments(2)
836 155 113 127 127 1,840 3,198 
Lease liabilities(3)
(6)4 3 3 3 93 100 
 
(1) Includes the Kent Hills Wind LP non-recourse bonds. The successful receipt of waivers and amendments would extend principal repayments beyond 2022.
(2) Excludes impact of hedge accounting and derivatives.
(3) Lease liabilities include a lease incentive of $13 million, expected to be received in 2022.