Intangible assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets

(in millions of Canadian dollars)	Cost(1)		Accumulated amortization		Net carrying amount
Balance as at December 31, 2021	$	64	$	(21)	$	43
Amortization	—		(3)		(3)
Foreign exchange impact	2		—		2
Balance as at December 31, 2022	66		(24)		42
Additions (Note 11)	3,022		—		3,022
Amortization	—		(61)		(61)
Foreign exchange impact	(27)		(2)		(29)
Balance as at December 31, 2023	$	3,061	$	(87)	$	2,974

(1) As at December 31, 2023, the Company held $1,798 million (2022 - $9 million) of Intangible assets not subject to amortization.

Provided below is the estimated aggregate amortization expense for each of the five succeeding fiscal years, and thereafter:

(in millions of Canadian dollars)
2024	$	85
2025	85
2026	85
2027	85
2028	85
2029 and thereafter	751
Total	$	1,176