content_image/151277.jpg content_image/151280.jpg
16. ACCOUNTS PAYABLE AND OTHER 

<img src='content_image/151277.jpg'>

Included in accounts payable and other liabilities are $2,308 million (2012 – $2,388 million) of accounts payable and other liabilities related to the company’s residential development operations. Accounts payable and other liabilities also includes $360 million (2012 – $418 million) of insurance deposits, claims and other liabilities incurred by the company’s insurance subsidiaries. 

17. CORPORATE BORROWINGS 

<img src='content_image/151280.jpg'>

1. Deferred financing costs are amortized to interest expense over the term of the borrowing following the effective interest method 

Corporate borrowings have a weighted average interest rate of 4.5% (2012 – 4.7%), and include $3,356 million (2012 – $2,679 million) repayable in Canadian dollars of C$3,565 million (2012 – C$2,658 million) and $nil (2012 – $165 million) repayable in British pounds of £nil (2012 – £102 million). 

On January 28, 2014, the company issued C$500 million of 4.82% term debt due January 28, 2026. 

