Long-term debt (Tables)

12 Months Ended

Dec. 31, 2014

Notes To Financial Statements [Abstract]

				Outstanding US dollar-denominated amount
								December 31,
In millions			Maturity					2014			2013
Notes and debentures ⁽¹⁾

Canadian National series:
	4.95%	6-year notes ⁽²⁾	Jan. 15, 2014	US$	-	$	-		$	346
	-	2-year floating rate notes ⁽³⁾	Nov. 6, 2015		350		406			372
	5.80%	10-year notes ⁽²⁾	June 1, 2016		250		290			266
	1.45%	5-year notes ⁽²⁾	Dec. 15, 2016		300		348			319
	-	3-year floating rate notes ⁽³⁾	Nov. 14, 2017		250		290			-
	5.85%	10-year notes ⁽²⁾	Nov. 15, 2017		250		290			266
	5.55%	10-year notes ⁽²⁾	May 15, 2018		325		377			346
	6.80%	20-year notes ⁽²⁾	July 15, 2018		200		232			213
	5.55%	10-year notes ⁽²⁾	Mar. 1, 2019		550		638			585
	2.75%	7-year notes ⁽²⁾	Feb. 18, 2021				250			-
	2.85%	10-year notes ⁽²⁾	Dec. 15, 2021		400		464			425
	2.25%	10-year notes ⁽²⁾	Nov. 15, 2022		250		290			266
	7.63%	30-year debentures	May 15, 2023		150		174			159
	2.95%	10-year notes ⁽²⁾	Nov. 21, 2024		350		406			-
	6.90%	30-year notes ⁽²⁾	July 15, 2028		475		551			505
	7.38%	30-year debentures ⁽²⁾	Oct. 15, 2031		200		232			213
	6.25%	30-year notes ⁽²⁾	Aug. 1, 2034		500		581			532
	6.20%	30-year notes ⁽²⁾	June 1, 2036		450		522			479
	6.71%	Puttable Reset Securities PURS^{SM (2)}	July 15, 2036		250		290			266
	6.38%	30-year debentures ⁽²⁾	Nov. 15, 2037		300		348			319
	3.50%	30-year notes ⁽²⁾	Nov. 15, 2042		250		290			266
	4.50%	30-year notes ⁽²⁾	Nov. 7, 2043		250		290			266

Illinois Central series:
	5.00%	99-year income debentures	Dec. 1, 2056		-		-			7
	7.70%	100-year debentures	Sep. 15, 2096		125		145			133

BC Rail series:
	Non-interest bearing 90-year subordinated notes ⁽⁴⁾		July 14, 2094				842			842
Total notes and debentures				US$	6,425	$	8,546		$	7,391
Other
Commercial paper							-			273
Accounts receivable securitization							50			250
Capital lease obligations							670			783
Total debt, gross							9,266			8,697
Less:	Net unamortized discount						857			857
Total debt ⁽⁵⁾							8,409			7,840
Less:	Current portion of long-term debt						544			1,021
Total long-term debt						$	7,865		$	6,819

(1)	The Company's notes, debentures and revolving credit facility are unsecured.
(2)	The fixed rate debt securities are redeemable, in whole or in part, at the option of the Company, at any time, at the greater of par and a formula price based on interest rates prevailing at the time of redemption.
(3)	These 2-year and 3-year floating rate notes bear interest at the three-month London Interbank Offered Rate (LIBOR) plus 0.20% and LIBOR plus 0.17%, respectively. The interest rate on the 2-year floating rate notes as at December 31, 2014 was 0.43% (0.44% as at December 31, 2013). The interest rate on the 3-year floating rate notes issued in 2014 was 0.40%.
(4)	The Company records these notes as a discounted debt of $9 million, using an imputed interest rate of 5.75%. The discount of $833 million is included in the net unamortized discount.
(5)	See Note 17 - Financial instruments, for the fair value of debt.

Schedule of Gross Issuance Repayments Commercial Paper

The following table presents the issuances and repayments of commercial paper:

In millions	Year ended December 31,		2014		2013		2012
Issuances of commercial paper		$	2,443	$	3,255	$	1,861
Repayments of commercial paper			(2,720)		(2,987)		(1,943)
Net issuance (repayment) of commercial paper		$	(277)	$	268	$	(82)

Long term debt maturities, including repurchase arrangements and capital lease repayments on debt outstanding for the next five years and thereafter

The following table provides the long-term debt maturities, including capital lease repayments on debt outstanding as at December 31, 2014, for the next five years and thereafter:

In millions			Capital leases		Debt		Total
2015⁽¹⁾		$	88	$	456	$	544
2016			311		634		945
2017			152		577		729
2018			8		606		614
2019			8		636		644
2020 and thereafter			103		4,830		4,933
Total		$	670	$	7,739	$	8,409

(1)	Current portion of long-term debt.

Schedule Of US Dollar Denominated Debt [Table Text Block]

In millions	December 31,		2014		2013
Notes and debentures		US $	6,425	US $	6,157
Capital lease obligations			448		573
Total amount of US dollar-denominated debt in US$		US $	6,873	US $	6,730
Total amount of US dollar-denominated debt in C$		$	7,973	$	7,158