Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt

The following table outlines the Company's outstanding long-term debt as at December 31, 2021:

(in millions of Canadian dollars except percentages)			Maturity	Currency in which payable	2021	2020
9.450%	30-year Debentures	(A)	Aug 2021	U.S.$	—	318
5.100%	10-year Medium Term Notes	(A)	Jan 2022	CDN$	125	125
4.500%	10-year Notes	(A)	Jan 2022	U.S.$	317	318
4.450%	12.5-year Notes	(A)	Mar 2023	U.S.$	444	445
1.589%	2-year Notes	(A)	Nov 2023	CDN$	1,000	—
1.350%	3-year Notes	(A)	Dec 2024	U.S.$	1,899	—
2.900%	10-year Notes	(A)	Feb 2025	U.S.$	887	891
3.700%	10.5-year Notes	(A)	Feb 2026	U.S.$	317	318
1.750%	5-year Notes	(A)	Dec 2026	U.S.$	1,266	—
2.540%	6.3-year Notes	(A)	Feb 2028	CDN$	1,200	—
4.000%	10-year Notes	(A)	Jun 2028	U.S.$	634	636
3.150%	10-year Notes	(A)	Mar 2029	CDN$	399	399
2.050%	10-year Notes	(A)	Mar 2030	U.S.$	633	636
7.125%	30-year Debentures	(A)	Oct 2031	U.S.$	444	446
2.450%	10-year Notes	(A)	Dec 2031	U.S.$	1,774	—
5.750%	30-year Debentures	(A)	Mar 2033	U.S.$	311	312
4.800%	20-year Notes	(A)	Sep 2035	U.S.$	379	381
5.950%	30-year Notes	(A)	May 2037	U.S.$	564	567
6.450%	30-year Notes	(A)	Nov 2039	CDN$	400	400
3.000%	20-year Notes	(A)	Dec 2041	U.S.$	1,261	—

5.750%	30-year Notes	(A)	Jan 2042	U.S.$	312		313
4.800%	30-year Notes	(A)	Aug 2045	U.S.$	695		698
3.050%	30-year Notes	(A)	Mar 2050	CDN$	298		298
3.100%	30-year Notes	(A)	Dec 2051	U.S.$	2,266		—
6.125%	100-year Notes	(A)	Sep 2115	U.S.$	1,141		1,146
5.41%	Senior Secured Notes	(B)	Mar 2024	U.S.$	80		89
6.91%	Secured Equipment Notes	(C)	Oct 2024	CDN$	58		75
7.49%	Equipment Trust Certificates		Jan 2021	U.S.$	—		14
Obligations under finance leases
1.99% - 4.13%		(D)	2022 - 2024	CDN$/U.S.$	2		4
6.99%		(D)	Mar 2022	U.S.$	97		97
6.57%		(D)	Dec 2026	U.S.$	33		38
12.77%		(D)	Jan 2031	CDN$	4		4
1.93%		(D)	Feb 2041	U.S.$	4		—
Commercial Paper			up to Jan 2022	U.S.$	336		820
Term Credit Facility			Mar 2022	U.S.$	634		—
Demand Promissory Note				CDN$	6		—
					20,220		9,788
Perpetual 4% Consolidated Debenture Stock		(E)		U.S.$	38		39
Perpetual 4% Consolidated Debenture Stock		(E)		G.B.£	6		6
					20,264		9,833
Unamortized fees on long-term debt					(137)		(62)
					20,127		9,771
Less: Long-term debt maturing within one year					1,550		1,186
					$	18,577	$	8,585

During the fourth quarter of 2021, the Company issued the following securities for total net proceeds of $10.7 billion to fund the cash consideration component of the KCS acquisition:

Date Issued	Description of Securities	Maturity	Net Proceeds
November 24, 2021	$1.0 billion 1.589% Notes	Nov 2023	$1.00 billion
	$1.2 billion 2.540% Notes	Feb 2028	$1.20 billion
December 2, 2021	U.S. $1.5 billion 1.350% Notes	Dec 2024	$1.91 billion (U.S. $1.49 billion)
	U.S. $1.0 billion 1.750% Notes	Dec 2026	$1.27 billion (U.S. $0.99 billion)
	U.S. $1.4 billion 2.450% Notes	Dec 2031	$1.78 billion (U.S. $1.39 billion)
	U.S. $1.0 billion 3.000% Notes	Dec 2041	$1.26 billion (U.S. $0.99 billion)
	U.S. $1.8 billion 3.100% Notes	Dec 2051	$2.26 billion (U.S. $1.77 billion)