16.  ACCOUNTS PAYABLE AND OTHER (MILLIONS) Dec. 31, 2013 Dec. 31, 2012 Accounts payable  $ 6,344 $ 7,203 Other liabilities  3,972 4,449 Total  $ 10,316 $ 11,652 The current and non-current balances of accounts payable and other liabilities are as follows: (MILLIONS) Dec. 31, 2013 Dec. 31, 2012 Current  $ 5,994 $ 6,212 Non-current  4,322 5,440 Total  $ 10,316 $ 11,652 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 – $418 million) of insurance deposits, claims and other liabilities incurred by the company’s insurance  subsidiaries.  17.  CORPORATE BORROWINGS (MILLIONS) Maturity  Annual Rate  Currency  Dec. 31, 2013 Dec. 31, 2012 Term debt Private – U.S.  Oct. 23, 2013 6.65% US$ $ — $ 75 Private – Canadian  Apr. 30, 2014 1 6.26% C$ — 27 Private – Canadian  Jun. 2, 2014 1 8.95% C$ — 151 Public – Canadian  Sept. 8, 2016 5.20% C$ 282 302 Public – U.S.  Apr. 25, 2017 5.80% US$ 239 239 Public – Canadian  Apr. 25, 2017 5.29% C$ 235 252 Public – Canadian  Apr. 9, 2019 3.95% C$ 568 428 Public – Canadian  Mar. 1, 2021 5.30% C$ 330 353 Public – Canadian  Mar. 31, 2023 4.54% C$ 568 428 Public – Canadian  Mar. 8, 2024 5.04% C$ 472 — Public – U.S.  Mar. 1, 2033 7.38% US$ 250 250 Public – Canadian  Jun. 14, 2035 5.95% C$ 396 302 3,340 2,807 Commercial paper and bank borrowings  1.24% US$/C$/£ 662 744 Deferred financing costs 1 (27) (25) Total $ 3,975 $ 3,526 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. 2013 ANNUAL REPORT 129