13. Long-term debt (continued) The Corporation’s long-term debt consists of the following:
2017
2016
Principal
Effective Interest
Principal
Effective Interest
Outstanding (millions)
Outstanding (millions)
Rate
Rate
GENERAL REVENUE FUND 1 - 5 years
$ 276
4.3% 5.6% 5.7% 6.4% 5.1% 3.7%
$ 176
4.2% 5.3% 6.1% 3.8% 4.0% 3.4%
6 - 10 years 11 - 15 years 16 - 20 years 21 - 25 years 26 - 30 years
175
192 110
50 60
62
100 300 961
225 250
1,015
Unamortized debt premium/discount and issue costs
4
(1)
965
1,014
OTHER LONG-TERM DEBT 26 - 30 years
5
13.5%
5
13.5%
970
1,019
Less: Current portion of long-term debt
(100)
(59)
$ 870
$ 960
The Corporation’s long-term debt is unsecured. As at March 31, 2017 principal repayments due in each of the next five fiscal years are as follows: (millions) 2018 2019 2020 2021 2022
Principal repayments
$ 59
$ 50
$ 33
$ 34
$ –
14. Deferred revenue
a. Unearned customer capital contributions (millions)
2017
2016
Balance, beginning of period
$ 90
$ 61
Additions Refunds Revenue
34
29
(2)
(3)
(61)
(55)
Balance, end of period
$ 61
$ 32
66
Consolidated Financial Statements
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