17. Debt (Cdn$ in millions) December 31, 2012  December 31, 2011 Carrying Fair Carrying Fair  Value Value Value Value 7.0% notes due September 2012 (US$200 million) (a) $ – $ – $ 203 $ 211 9.75% notes due May 2014 (US$530 million) (a)  – – 514 635 5.375% notes due October 2015 (US$300 million)  297 330 304 336 10.25% notes due May 2016 (US$659 million) (a)  – – 629 780 3.15% notes due January 2017 (US$300 million) (b) 297 313 303 316 3.85% notes due August 2017 (US$300 million)  294 322 300 326 2.5% notes due February 2018 (US$500 million) (a) 493 510 – – 3.0% notes due March 2019 (US$500 million) (a)  493 515 – – 10.75% notes due May 2019 (US$1,043 million) (a) – – 991 1,304 4.5% notes due January 2021 (US$500 million)  493 545 504 539 4.75% notes due January 2022 (US$700 million) (b) 691 774 706 765 3.75% notes due February 2023 (US$750 million) (a)  735 770 – – 6.125% notes due October 2035 (US$700 million)  681 786 696 797 6.0% notes due August 2040 (US$650 million)  644 747 658 742 6.25% notes due July 2041 (US$1,000 million) (b)  983 1,182 1,005 1,166 5.2% notes due March 2042 (US$500 million) (a)  490 517 – – 5.4% notes due February 2043 (US$500 million) (a) 492 535 – – Antamina senior revolving credit facility due April 2015 (c)  22 22 117 117 Other 90 90 105 105 7,195 7,958 7,035 8,139 Less current portion of long-term debt  (35) (35) (359) (367) $ 7,160 $ 7,923 $ 6,676 $ 7,772 The fair values of debt are determined using market values where available and cash flows based on our cost of  borrowing for other items. The 2011 fair values of the 10.25% notes and the 10.75% notes are net of $99 million and  $214 million, respectively, related to prepayment rights. All obligations under the notes are directly guaranteed by TML except for the 5.375% and 6.125% notes which are  supported by an arrangement similar in effect to a guarantee pursuant to which the trustee under these notes will,  in the event of a default under the governing indenture, have the right to make a demand against TML in an amount  equal to the amount due under the notes. Generations 103