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Debt (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of debt
In millions
Maturity
US dollar-denominated
amount		December 31,20202019
Notes and debentures (1)
Canadian National series:
2.40%
2-year notes (2)
Feb 3, 2020
US$300 $— $390 
2.75%
7-year notes (2)
Feb 18, 2021
 250 250 
2.85%
10-year notes (2)
Dec 15, 2021
US$400 509 520 
2.25%
10-year notes (2)
Nov 15, 2022
US$250 318 325 
7.63%
30-year debentures
May 15, 2023
US$150 191 195 
2.95%
10-year notes (2)
Nov 21, 2024
US$350 445 455 
2.80%
10-year notes (2)
Sep 22, 2025
 350 350 
2.75%
10-year notes (2)
Mar 1, 2026
US$500 636 649 
6.90%
30-year notes (2)
Jul 15, 2028
US$475 604 617 
3.20%
10-year notes (2)
Jul 31, 2028
350 350 
3.00%
10-year notes (2)
Feb 8, 2029
350 350 
7.38%
30-year debentures (2)
Oct 15, 2031
US$200 255 260 
6.25%
30-year notes (2)
Aug 1, 2034
US$500 636 649 
6.20%
30-year notes (2)
Jun 1, 2036
US$450 573 585 
6.71%
Puttable Reset Securities PURSSM (2)
Jul 15, 2036
US$250 318 325 
6.38%
30-year debentures (2)
Nov 15, 2037
US$300 382 390 
3.50%
30-year notes (2)
Nov 15, 2042
US$250 318 325 
4.50%
30-year notes (2)
Nov 7, 2043
US$250 318 325 
3.95%
30-year notes (2)
Sep 22, 2045
400 400 
3.20%
30-year notes (2)
Aug 2, 2046
US$650 827 844 
3.60%
30-year notes (2)
Aug 1, 2047
500 500 
3.65%
30-year notes (2)
Feb 3, 2048
US$600 764 779 
3.60%
30-year notes (2)
Jul 31, 2048
450 450 
4.45%
30-year notes (2)
Jan 20, 2049
US$650 827 844 
3.60%
30-year notes (2)
Feb 8, 2049
450 450 
3.05%
30-year notes (2)
Feb 8, 2050
450 450 
2.45%
30-year notes (2)
May 1, 2050
US$600 764 — 
4.00%
50-year notes (2)
Sep 22, 2065
100 100 
Illinois Central series:
7.70%
100-year debentures
Sep 15, 2096
US$125 159 162 
BC Rail series:
Non-interest bearing 90-year subordinated notes (3)
Jul 14, 2094
842 842 
Total notes and debentures13,336 13,131 
Other
Commercial paper56 1,277 
Accounts receivable securitization— 200 
Finance leases74 134 
Equipment loans and other (4)
402 4 
Total debt, gross13,868 14,746 
Net unamortized discount and debt issuance costs (3)
(962)(950)
Total debt (5)
12,906 13,796 
Less: Current portion of long-term debt
910 1,930 
Total long-term debt$11,996 $11,866 
(1)The Company's notes and debentures 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)As at December 31, 2020, these notes were recorded as a discounted debt of $13 million (2019 - $12 million) using an imputed interest rate of 5.75% (2019 - 5.75%). The discount of $829 million (2019 - $830 million) is included in Net unamortized discount and debt issuance costs.
(4)Includes $368 million of equipment loan under the non-revolving credit facility and $34 million of other equipment loans payable monthly at a weighed average interest rate of 2.00%.
(5)See Note 22 - Financial instruments for the fair value of debt.
Schedule of issuances and repayments of commercial paper
The following table provides a summary of cash flows associated with the issuance and repayment of commercial paper:
In millionsYear ended December 31,202020192018
Commercial paper with maturities less than 90 days
Issuance$5,315 $5,069 $8,292 
Repayment(6,076)(5,141)(8,442)
Change in commercial paper with maturities less than 90 days, net$(761)$(72)$(150)
Commercial paper with maturities of 90 days or greater
Issuance$736 $2,115 $1,135 
Repayment(1,248)(1,902)(886)
Change in commercial paper with maturities of 90 days or greater, net$(512)$213 $249 
Change in commercial paper, net$(1,273)$141 $99 
Schedule of accounts receivable securitization
The following table provides a summary of cash flows associated with the proceeds received and repayment of the accounts receivable securitization program:
In millionsYear ended December 31,202020192018
Beginning of year$200 $— $421 
Proceeds received450 420 530 
Repayment(650)(220)(950)
Foreign exchange— — (1)
End of year$— $200 $— 
Schedule of debt maturities
The following table provides the debt maturities, excluding finance lease liabilities, as at December 31, 2020, for the next five years and thereafter:
In millions
Debt (1)
2021$840 
2022329 
2023203 
2024459 
2025364 
2026 and thereafter10,637 
Total12,832 
Finance lease liabilities (2)
74 
Total debt$12,906 
(1)    Presented net of unamortized discounts and debt issuance costs.
(2)     See Note 12 - Leases for maturities of finance lease liabilities.
Schedule of US dollar-denominated debt
In millionsDecember 31,20202019
Notes and debenturesUS$6,950 US$6,650 
Commercial paper44 983 
Finance lease liabilities50 74 
Equipment loans and other 314 — 
Total amount of US dollar-denominated debt in US$US$7,358 US$7,707 
Total amount of US dollar-denominated debt in C$$9,363 $10,011