INTERIM CONSOLIDATED BALANCE SHEETS AS AT - CAD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 411	$ 739
Accounts receivable, net (Note 8)	2,118	1,968
Materials and supplies	485	457
Other current assets	259	220
Total current assets	3,273	3,384
Investments (Note 4)	472	586
Properties	55,615	56,024
Goodwill	18,724	19,350
Intangible assets	2,979	3,146
Pension asset	4,880	4,586
Other assets	746	668
Total assets	86,689	87,744
Current liabilities
Accounts payable and accrued liabilities	2,900	2,842
Long-term debt maturing within one year (Note 9, 10)	2,301	2,819
Total current liabilities	5,201	5,661
Pension and other benefit liabilities	547	548
Other long-term liabilities	944	867
Long-term debt (Note 9, 10)	21,590	19,804
Deferred income taxes	11,748	11,974
Total liabilities	40,030	38,854
Shareholders’ equity
Share capital	24,815	25,689
Additional paid-in capital	106	94
Accumulated other comprehensive income (Note 7)	1,602	2,680
Retained earnings	19,175	19,429
Total shareholders' equity	45,698	47,892
Non-controlling interest	961	998
Total equity	46,659	48,890
Total liabilities and equity	$ 86,689	$ 87,744