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Leases (Tables)

12 Months Ended

Dec. 31, 2020

Components of lease expense for the year ended December 31 are as follows:


(in millions of Canadian dollars)	2020		2019
Operating lease cost	$	83	$	89
Short-term lease cost	10		10
Variable lease cost	13		13
Sublease income	(3)		(3)

Finance Lease Cost
Amortization of right-of-use assets	9		9
Interest on lease liabilities	11		11
Total lease costs	$	123	$	129

Supplemental balance sheet information related to leases is as follows:


(in millions of Canadian dollars)	Classification	2020		2019
Assets
Operating	Other assets	$	316	$	358
Finance	Properties, net book value	171		177

Liabilities
Current
Operating	Accounts payable and accrued liabilities	63		69
Finance	Long-term debt maturing within one year	8		7
Long-term
Operating	Other long-term liabilities	248		285
Finance	Long-term debt	135		144

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


	2020		2019
Weighted-Average Remaining Lease Term
Operating leases	7 years		7 years
Finance leases	3 years		4 years

Weighted-Average Discount Rate
Operating leases	3.32	%	3.45	%
Finance leases	7.06	%	7.07	%

Supplemental information related to leases is as follows:


(in millions of Canadian dollars)	2020		2019
Cash paid for amounts included in measurement of lease liabilities
Operating cash outflows from operating leases	$	74	$	82
Operating cash outflows from finance leases	10		10
Financing cash outflows from finance leases	8		6

Right-of-use assets obtained in exchange for lease liabilities
Operating leases	34		38
Finance leases	4		4

The following table provides the maturities of lease liabilities for the next five years and thereafter as at December 31, 2020:


(in millions of Canadian dollars)	Finance Leases		Operating Leases
2021	$	11	$	71
2022	107		59
2023	9		53
2024	8		42
2025	8		34
Thereafter	12		88
Total lease payments	155		347
Imputed interest	(12)		(36)
Present value of lease payments	$	143	$	311