The composition of fair value for shareholders’ equity was as follows: Retained earnings (deficit) reflects the aggregate of Capstone’s net income (loss) since formation of the Corporation less cumulative dividends paid  to shareholders and cumulative distributions paid to Class B exchangeable unitholders. As at December 31, 2013, Capstone had outstanding contractual obligations with amounts due as follows: (1) Long-term debt and finance lease obligations include principal or minimum lease payments, respectively and interest payments. The following leases have been included in the table based on known minimum operating lease commitments as follows: Capstone has additional operating lease commitments not included in the table with no minimum operating lease commitments required as follows: Capstone enters into contractual commitments in the normal course of business. These contracts include capital commitments, natural gas purchase contract and operations and management agreements as follows: 2013 ANNUAL REPORT  39 • Cardinal placed a purchase order for a $20,140 ($19,000 USD) rotor and exhaust cylinder to be installed during the scheduled major maintenance in 2015. The purchase order includes a termination fee that escalates with the passage of time. As at December 31, 2013, the penalty was $1,060 ($1,000 USD) and increases to $3,180 ($3,000 USD) by March 2014. Capstone's first installment payment of $2,120 was made in February 2014. • Bristol Water has commitments for capital expenditures at December 31, 2013 of which $26,172 were contracted but had not yet occurred. • As part of Capstone's power development operations, Capstone enters various construction and purchase agreements. As at December 31, 2013, Capstone had approximately $61,000 of construction and turbine supply agreements for the Saint-Philémon and Skyway 8 projects. • Commitments associated with our asset retirement obligations for Capstone's power infrastructure facilities are projected to occur principally over the next 30 years. • Cardinal leases the site on which it is located from Ingredion Canada Incorporated ("Ingredion"). Under the lease, Cardinal pays nominal rent.  The lease extends to 2016 and expires concurrently with the energy savings agreement between Ingredion and Cardinal.  • Capstone has agreements with the Provinces of Ontario and British Columbia for the lease of certain lands and water rights necessary for the operation of its hydro power facilities. The payments under these agreements vary based on actual power production. The terms of the lease agreements extend from 2023 and 2042. • Capstone's operating wind facilities and wind development projects have entered into agreements for the use, or option to use, land in connection with the operation of existing and future wind farms. Payment under these agreements is typically a minimum amount with  additional payments dependent on the amount of power generated by the wind facility. The agreements can be renewed and extend as far as 2047. • Amherstburg leases the land on which it is located. The terms of the lease agreement extend to 2032.  • The Corporation has operating leases for corporate offices and power development purposes. These leases have terms ranging from 2015 to 2018, with options to extend. • Bristol Water has finance leases for certain equipment and vehicles. • Long-term debt is discussed on page 36 of this MD&A as a part of the Capital Structure section. Contractual Obligations Long-term debt Finance lease obligations Operating leases Asset retirement obligations Purchase obligations Capital commitments Within one year One year to five years  Beyond five years  Total Long-term debt  (1) t 63,839 479,569 934,549 1,477,957 Finance lease obligations (1) 691 4,005 925 5,621 Operating leases 2,027 9,542 21,066 32,635 Asset retirement obligations — — 13,112 13,112 Purchase obligations 146,720 39,017 11,161 196,898 Total contractual obligations 213,277 532,133 980,813 1,726,223 As at Dec 31, 2013 Dec 31, 2012 ($000s, except per share amounts) Market Price per Share Outstanding Amount Fair  Value Market Price per Share Outstanding Amount Fair  Value Common shares $3.56 92,854 330,560 $4.03 72,445 291,955 Class B units $3.56 3,249 11,568 $4.03 3,249 13,093 Preferred shares $15.31 3,000 45,930 $19.40 3,000 58,200 388,058 363,248