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financing costs (Tables)
12 Months Ended
Dec. 31, 2021
financing costs  
Schedule of financing costs

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Years ended December 31 (millions)

    

Note

    

2021

    

2020

Interest expense

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Interest on long-term debt, excluding lease liabilities - gross

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$

683

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$

676

Interest on long-term debt, excluding lease liabilities - capitalized 1

 

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(3)

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(37)

Interest on long-term debt, excluding lease liabilities

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680

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639

Interest on lease liabilities

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19

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66

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70

Interest on short-term borrowings and other

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15

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5

Interest accretion on provisions

 

25

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18

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16

Long-term debt prepayment premium

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10

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18

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789

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748

Employee defined benefit plans net interest

 

15

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26

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16

Foreign exchange

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(3)

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14

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812

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778

Interest income

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(16)

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(7)

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$

796

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$

771

Net interest cost

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3

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$

773

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$

792

Interest on long-term debt, excluding lease liabilities - capitalized 1

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(3)

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(37)

Employee defined benefit plans net interest

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26

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16

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$

796

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$

771

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1

Interest on long-term debt, excluding lease liabilities, at a composite rate of 3.10% (2020 – 4.33%) was capitalized to intangible assets with indefinite lives during the period.