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Long-term Debt (Tables)
 12 Months Ended
Dec. 31, 2017
Long-term debt  
Schedule of Long-term Debt
US dollar-denominated amount
In millionsMaturityDecember 31,20172016
Notes and debentures (1)
Canadian National series:
-3-year floating rate notes (2)Nov. 14, 2017US$250$-$336
5.85%10-year notes (3)Nov. 15, 2017US$250-336
5.55%10-year notes (3)May 15, 2018US$325409436
6.80%20-year notes (3)July 15, 2018US$200251269
5.55%10-year notes (3)Mar. 1, 2019US$550692738
2.75%7-year notes (3)Feb. 18, 2021250250
2.85%10-year notes (3)Dec. 15, 2021US$400503537
2.25%10-year notes (3)Nov. 15, 2022US$250314336
7.63%30-year debentures May 15, 2023US$150189201
2.95%10-year notes (3)Nov. 21, 2024US$350440470
2.80%10-year notes (3)Sep. 22, 2025350350
2.75%10-year notes (3)Mar. 1, 2026US$500629671
6.90%30-year notes (3)July 15, 2028US$475597638
7.38%30-year debentures (3)Oct. 15, 2031US$200251269
6.25%30-year notes (3)Aug. 1, 2034US$500629671
6.20%30-year notes (3)June 1, 2036US$450566604
6.71%Puttable Reset Securities PURSSM (3)July 15, 2036US$250314336
6.38%30-year debentures (3)Nov. 15, 2037US$300377403
3.50%30-year notes (3)Nov. 15, 2042US$250314336
4.50%30-year notes (3)Nov. 7, 2043US$250314336
3.95%30-year notes (3)Sep. 22, 2045400400
3.20%30-year notes (3)Aug. 2, 2046US$650817872
3.60%30-year notes (3)Aug. 1, 2047500-
4.00%50-year notes (3)Sep. 22, 2065100100
Illinois Central series:
7.70%100-year debentures Sep. 15, 2096US$125157168
BC Rail series:
Non-interest bearing 90-year subordinated notes (4) July 14, 2094842842
Total notes and debentures$10,205$10,905
Other
Commercial paper 955605
Accounts receivable securitization 421-
Capital lease obligations 158344
Total debt, gross11,73911,854
Net unamortized discount and debt issuance costs (4) (911)(917)
Total debt (5)10,82810,937
Less: Current portion of long-term debt 2,0801,489
Total long-term debt$8,748$9,448
(1)The Company's notes and debentures are unsecured.
(2)This floating rate note bore interest at the three-month London Interbank Offered Rate (LIBOR) plus 0.17%. The interest rate as at the date of maturity of this floating rate note was 1.48% (December 31, 2016 - 1.07%).
(3)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.
(4)As at December 31, 2017, these notes were recorded as a discounted debt of $11 million (2016 - $10 million) using an imputed interest rate of 5.75% (2016 - 5.75%). The discount of $831 million (2016 - $832 million) is included in Net unamortized discount and debt issuance costs.
(5)See Note 17 - Financial instruments for the fair value of debt.
Schedule of Issuances and Repayments of Commercial Paper
In millionsYear ended December 31,201720162015
Issuances of commercial paper$4,539$3,656$2,624
Repayments of commercial paper(4,160)(3,519)(2,173)
Net issuance of commercial paper$379$137$451
Schedule of Long-term Debt Maturities
In millions Capital leases Debt (1)Total
2018 (2)$44$2,036$2,080
201910684694
202015-15
20216747753
20222308310
2023 and thereafter816,8956,976
Total$158$10,670$10,828
(1)Presented net of unamortized discounts and debt issuance costs.
(2)Current portion of long-term debt.
Schedule of US Dollar-Denominated Debt
In millionsDecember 31,20172016
Notes and debenturesUS$ 6,175US$ 6,675
Commercial paper760451
Accounts receivable securitization80-
Capital lease obligations46158
Total amount of US dollar-denominated debt in US$US$ 7,061US$ 7,284
Total amount of US dollar-denominated debt in C$$8,876$9,780