Intangible assets

12 Months Ended

Dec. 31, 2024

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, 2022	$	66	$	(24)	$	42
Additions (Note 10)	3,022		—		3,022
Amortization	—		(61)		(61)
Foreign exchange impact	(27)		(2)		(29)
Balance as at December 31, 2023	3,061		(87)		2,974
Amortization	—		(85)		(85)
Foreign exchange impact	254		3		257
Balance as at December 31, 2024	$	3,315	$	(169)	$	3,146

(1) As at December 31, 2024, the Company held $1,956 million (2023 - $1,798 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)
2025	$	90
2026	90
2027	89
2028	89
2029	89
2030 and thereafter	743
Total	$	1,190