Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Components of Lease Expense

The components of lease expense are as follows:

	For the three months ended September 30			For the nine months ended September 30
(in millions of Canadian dollars)	2019			2019
Operating lease cost	$	22		$	67
Short-term lease cost	1			3
Variable lease cost	3			9
Sublease income	(1		)	(2		)
Finance Lease Cost
Amortization of right-of use-assets	2			7
Interest on lease liabilities	3			8
Total lease costs	$	30		$	92

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases is as follows:

		As at September 30
(in millions of Canadian dollars)	Classification	2019
Assets
Operating	Other assets	$	376
Finance	Properties, net book value	179
Liabilities
Current
Operating	Accounts payable and accrued liabilities	73
Finance	Long-term debt maturing within one year	7
Long-term
Operating	Other long-term liabilities	297
Finance	Long-term debt	148

Weighted Average Remaining Lease Terms and Discount Rates

The following table provides the Company's weighted average remaining lease terms and discount rates:

	As at September 30
(in millions of Canadian dollars)	2019
Weighted Average Remaining Lease Term
Operating leases	7 years
Finance leases	4 years
Weighted Average Discount Rate
Operating leases	3.46	%
Finance leases	7.05	%

Supplemental Information Related to Leases

Supplemental information related to leases is as follows:

	For the three months ended September 30		For the nine months ended September 30
(in millions of Canadian dollars)	2019		2019
Cash paid for amounts included in measurement of lease liabilities
Operating cash outflows from operating leases	$	20	$	66
Operating cash outflows from finance leases	5		10
Financing cash outflows from finance leases	2		4
Right-of-use assets obtained in exchange for lease liabilities
Operating leases	$	8	$	31
Finance leases	—		4

Maturities of Operating and Finance Lease Liabilities

Maturities of lease liabilities are as follows:

	As at September 30, 2019
(in millions of Canadian dollars)	Finance Leases		Operating Leases
2019	$	3	$	28
2020	11		69
2021	10		54
2022	110		52
2023	9		40
Thereafter	29		178
Total lease payments	$	172	$	421
Less: Imputed interest	17		51
Present value of lease payments	$	155	$	370