outlined in note 19. We also manage liquidity risk by continually
monitoring actual and projected cash flows to ensure that we will have
sufficient liquidity to meet our liabilities when due, under both normal
and stressed conditions, without incurring unacceptable losses or
risking damage to our reputation.
The tables below sets out the undiscounted contractual maturities of our financial liabilities and the receivable components of our derivatives at
December 31, 2013 and 2012.
December 31, 2013
Carrying
amount
Contractual
cash flows
Less than
1 year
1t o3
years
4t o5
years
More than
5 years
Short-term borrowings $ 650 1 $ 650 1 $ 650 1 $– $– $ –
Accounts payable and accrued liabilities 2,344 2,344 2,344 – – –
Long-term debt 13,343 13,436 1,170 1,883 1,989 8,394
Other long-term financial liabilities 38 38 – 14 18 6
Expenditure Derivative instruments:
Cash outflow (Canadian dollar) – 923 923 – – –
Cash inflow (Canadian dollar equivalent of US dollar) – (957) (957) – – –
Equity Derivative instruments – 13 13 – – –
Debt Derivative instruments:
Cash outflow (Canadian dollar) – 6,665 1,183 905 1,435 3,142
Cash inflow (Canadian dollar equivalent of US dollar) – (6,786)2 (1,170)2 (883)2 (1,489)2 (3,244)2
Net carrying amount of Derivatives (asset) (75)
$ 16,300 $ 16,326 $ 4,156 $ 1,919 $ 1,953 $ 8,298
1 The terms of our accounts receivable securitization program are committed until it expires on December 31, 2015.
2 Represents Canadian dollar equivalent amount of US dollar inflows matched to an equal amount of US dollar maturities in long-term debt for Debt Derivatives.
2013 ANNUAL REPORT ROGERS COMMUNICATIONS INC. 113