LEASES (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Assets and liabilities, lessee

Supplemental Statements of Financial Position Information

	December 31, 2020		December 31, 2019
(millions of Canadian dollars, except lease term and discount rate)
Operating leases
Operating lease right-of-use assets, net1	708		713
Operating lease liabilities - current2	80		94
Operating lease liabilities - long-term3	681		689
Total operating lease liabilities	761		783
Finance leases
Finance lease right-of-use assets, net1	124		89
Finance lease liabilities - current2	17		16
Finance lease liabilities - long-term3	98		78
Total finance lease liabilities	115		94
Weighted average remaining lease term
Operating leases	13 years		13 years
Finance leases	22 years		23 years
Weighted average discount rate
Operating leases	4.1	%	4.3	%
Finance leases	2.9	%	3.6	%

1Right-of-use assets are reported under Deferred amounts and other assets in the Consolidated Statements of Financial Position.

2Current lease liabilities are reported under Accounts payable and other in the Consolidated Statements of Financial Position.

3Long-term lease liabilities are reported under Other long-term liabilities in the Consolidated Statements of Financial Position.

Lessee, operating lease liability, maturity

As at December 31, 2020, our operating and finance lease liabilities are expected to mature as follows:

	Operating leases	Finance leases
(millions of Canadian dollars)
2021	121	18
2022	116	16
2023	96	16
2024	90	13
2025	84	6
Thereafter	531	84
Total undiscounted lease payments	1,038	153
Less imputed interest	(277)	(38)
Total	761	115

Lessee, finance lease liability, maturity

As at December 31, 2020, our operating and finance lease liabilities are expected to mature as follows:

	Operating leases	Finance leases
(millions of Canadian dollars)
2021	121	18
2022	116	16
2023	96	16
2024	90	13
2025	84	6
Thereafter	531	84
Total undiscounted lease payments	1,038	153
Less imputed interest	(277)	(38)
Total	761	115

Operating lease, lease income

Year ended December 31,	2020	2019
(millions of Canadian dollars)
Operating lease income	265	265
Variable lease income	361	360
Total lease income1	626	625

1Lease income is recorded under Transportation and other services in the Consolidated Statements of Earnings.

Lessor, operating lease, payments to be received, maturity

As at December 31, 2020, the following table sets out future lease payments to be received under operating lease contracts where we are the lessor:

	Operating leases
(millions of Canadian dollars)
2021	242
2022	229
2023	212
2024	206
2025	199
Thereafter	2,201
Future lease payments	3,289