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LEASES (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Assets and Liabilities, Lessee
Supplemental Statements of Financial Position Information
December 31, 2023December 31, 2022
(millions of Canadian dollars, except lease term and discount rate)
Operating leases1
Operating lease right-of-use assets, net2
669680
Operating lease liabilities - current3
9887
Operating lease liabilities - long-term3
652677
Total operating lease liabilities750764
Finance leases
Finance lease right-of-use assets, net4
28762
Finance lease liabilities - current5
1917
Finance lease liabilities - long-term5
26439
Total finance lease liabilities28356
Weighted average remaining lease term
Operating leases12 years12 years
Finance leases31 years5 years
Weighted average discount rate
Operating leases4.5 %4.2 %
Finance leases5.7 %4.4 %
1Affiliate ROU assets, current lease liabilities and long-term lease liabilities as at December 31, 2023 were $42 million (December 31, 2022 - $47 million), $5 million (December 31, 2022 - $5 million) and $38 million (December 31, 2022 - $43 million), respectively.
2Operating lease ROU assets are reported under Deferred amounts and other assets in the Consolidated Statements of Financial Position.
3Current operating lease liabilities and long-term operating lease liabilities are reported under Other current liabilities and Other long-term liabilities, respectively, in the Consolidated Statements of Financial Position.
4Finance lease ROU assets are reported under Property, plant and equipment, net in the Consolidated Statements of Financial Position.
5Current finance lease liabilities and long-term finance lease liabilities are reported under Current portion of long-term debt and Long-term debt in the Consolidated Statements of Financial Position.
Schedule of Lessee, Operating Lease Liability, Maturity
As at December 31, 2023, our operating and finance lease liabilities are expected to mature as follows:
Operating leasesFinance
 leases
(millions of Canadian dollars)
2024130 31 
2025120 25 
2026106 25 
202796 18 
202875 18 
Thereafter459 502 
Total undiscounted lease payments986 619 
Less imputed interest(236)(336)
Total 750 283 
Schedule of Lessee, Finance Lease Liability, Maturity
As at December 31, 2023, our operating and finance lease liabilities are expected to mature as follows:
Operating leasesFinance
 leases
(millions of Canadian dollars)
2024130 31 
2025120 25 
2026106 25 
202796 18 
202875 18 
Thereafter459 502 
Total undiscounted lease payments986 619 
Less imputed interest(236)(336)
Total 750 283 
Schedule of Operating Lease, Lease Income
Year ended December 31,202320222021
(millions of Canadian dollars)
Operating lease income241 266 263 
Variable lease income299 321 333 
Total lease income1
540 587 596 
1Lease income is recorded under Transportation and other services in the Consolidated Statements of Earnings.
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity
As at December 31, 2023, our future lease payments to be received under operating lease contracts where we are the lessor are as follows:
Operating leases
(millions of Canadian dollars)
2024225 
2025206 
2026201 
2027199 
2028201 
Thereafter1,612 
Future lease payments2,644