Algonquin Power & Utilities Corp. – Consolidated Financial Statements ALGONQUIN POWER & UTILITIES CORP.  Notes to the Consolidated Financial Statements  December 31, 2012 and 2011   (in thousands of Canadian dollars except as noted and amounts per share)  3.  Business acquisitions and development projects (continued)  The current portion of the long-term debt of U.S. $25,000 and U.S. $3,000 are payable on  June 30 and November 15, 2013, respectively. The semi-annual principal repayment  schedule for the following 11 years ranges from $3,000 to $6,000 with a final repayment of  U.S. $20,000 in 2025. This debt may be repaid in whole or in part at anytime without penalty  and bears interest at Libor plus 280 basis points. All costs related to the acquisition have been expensed through the Consolidated Statement  of Operations.  Based on the timing of the completion of this acquisition in relation to the date of issuance of  the financial statements, the initial allocation of the consideration paid has not been  completed. On August 8, 2012, Liberty Utilities entered into an agreement with Atmos Energy  Corporation (“Atmos”) to acquire certain regulated natural gas distribution utility assets (the  “Georgia Utility”) located in the State of Georgia. Total purchase price for the Georgia Utility  is approximately U.S. $140,660, subject to certain working capital and other closing  adjustments. Regulatory approval was obtained in February 2013 and the acquisition is  expected to close on or about April 1, 2013.  Subsequent to year-end, on February 1, 2013, Liberty Utilities acquired United Water  Arkansas Inc. a regulated water distribution utility (the “Arkansas Utility”) located in Pine  Bluff, Arkansas. Total purchase price for the Arkansas Utility is approximately U.S. $27,600,  subject to certain working capital and other closing adjustments.  All costs related to the acquisition have been expensed through the Consolidated Statement  of Operations.  Based on the timing of the completion of this acquisition in relation to the date of issuance of  the financial statements, the initial allocation of the consideration paid has not been  completed.  Subsequent to year-end, on February 11, 2013, Liberty Utilities entered into an agreement  with The Laclede Group, Inc. to assume the rights to purchase the assets of New England  Gas Company (“New England Gas”) located in the State of Massachusetts. Total purchase  price for the New England Gas is approximately U.S. $74,000, subject to certain working  capital and other closing adjustments. Closing of the transaction is subject to certain  conditions including state and federal regulatory approval, and is expected to occur in the  second half of 2013.  Accounts receivable as of December 31, 2012, includes unbilled revenue of $22,658 (December 31,  2011 - $11,304) in the regulated utilities. The unbilled revenue is an estimate of the amount of utility  revenue since the date the meters were last read that has not yet been billed to customers. (g) Acquisition of Shady Oaks wind power facility (continued)  (h) Agreement to acquire Regulated Gas Utility in Georgia  (i) Acquisition of Arkansas Regulated Water Utility  (j) Agreement to acquire New England Gas Company  4. Accounts receivable 2012 Annual Report 96