12. Long-term receivables, investments and other

  2012 2011
  1. (a) BPLP leases the Bruce A nuclear generating plants and other property, plant and equipment to BALP under a sublease agreement. Future minimum base rent sublease payments under the capital lease receivable are imputed using a 7.5% discount rate. The future minimum lease payments are as follows:
BPLP    
Finance lease receivable from Bruce A Limited Partnership (BALP) (a) $81,528 $87,785
Derivatives [note 29] 20,180 54,010
Available-for-sale securities    
GoviEx Uranium (privately held) 20,599 21,057
Derivatives [note 29] 22,453 17,569
Advances receivable from JV Inkai LLP [note 36] 87,264 78,058
Investment tax credits 69,690 54,038
Other 42,583 32,429
  344,297 344,946
Less current portion (46,259) (62,433)
Net $298,038 $282,513
At December 31, 2012
  Future minimum
lease payments		 Interest Present value
of minimum
lease payments
Less than one year $12,798 $5,880 $6,918
Between one and five years 69,754 16,093 53,661
More than five years 21,810 861 20,949
Total $104,362 $22,834 $81,528

At December 31, 2011
  Future minimum
lease payments		 Interest Present value
of minimum
lease payments
Less than one year $12,640 $6,372 $6,268
Between one and five years 59,800 19,566 40,234
More than five years 44,550 3,267 41,283
Total $116,990 $29,205 $87,785

Included in finance income is $6,383,000 related to the finance lease receivable for the year ended December 31, 2012 (2011 - $6,731,000).

The lease agreement includes supplemental lease payments which are classified as contingent rents. Annual supplemental rents of $31,000,000 (subject to CPI) per operating reactor are payable by BPLP to Ontario Power Generation Inc. (OPG). Should the hourly annual average price of electricity in Ontario fall below $30 per megawatt hour for any calendar year, the supplemental rent reduces to $12,000,000 per operating reactor.

In accordance with the sublease agreement, BALP will participate in its share of supplemental rent and any subsequent adjustments. There were $35,866,000 in supplemental lease payments to OPG recognized in 2012 (2011 - $58,302,000). Of this amount, $20,698,000 was reimbursed to BPLP from BALP during 2012 (2011 - $19,434,000). The net amounts have been recognized in cost of products and services sold.

In addition, the base rent payments during the renewal periods have been classified as contingent rents. The calculation of the renewal base rent payments is based on the proportion of operational BALP units versus BPLP units, contingent on the extent of use of the respective stations. These base rents will commence in 2019.