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EMPLOYEE POST-RETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Contributions for Defined Benefit Plans
Total cash contributions by the Company for employee post-retirement benefits were as follows:
year ended December 31202220212020
(millions of Canadian $)
DB Plans78 105 124 
Other post-retirement benefit plans8 8 9 
Savings and DC Plans64 58 58 
150 171 191 
Schedule of Change in Benefit Obligations, Change in Plan Assets, and Funded Status
The Company's funded status at December 31 was comprised of the following:
at December 31Pension
Benefit Plans		Other Post-Retirement
Benefit Plans
(millions of Canadian $)2022202120222021
Change in Benefit Obligation1
    
Benefit obligation – beginning of year4,027 4,326 419 457 
Service cost145 171 5 6 
Interest cost125 119 13 12 
Employee contributions6 6 2 1 
Benefits paid(324)(372)(24)(21)
Actuarial gain(949)(208)(120)(35)
Curtailment— (5)— 3 
Foreign exchange rate changes51 (10)15 (4)
Benefit obligation – end of year3,081 4,027 310 419 
Change in Plan Assets    
Plan assets at fair value – beginning of year4,145 4,038 431 441 
Actual return on plan assets(483)376 (89)5 
Employer contributions2
78 105 8 8 
Employee contributions6 6 2 1 
Benefits paid(324)(372)(24)(21)
Foreign exchange rate changes59 (8)26 (3)
Plan assets at fair value – end of year3,481 4,145 354 431 
Funded Status – Plan Surplus400 118 44 12 
1The benefit obligation for the Company’s pension benefit plans represents the projected benefit obligation. The benefit obligation for the Company’s other post-retirement benefit plans represents the accumulated post-retirement benefit obligation.
2Excludes a nil (2021 – $20 million) letter of credit provided to the Canadian DB Plan for funding purposes.
Schedule of Amounts Recognized in the Balance Sheet for its DB Plans and Other Post-Retirement Benefits Plans
The amounts recognized on the Company's Consolidated balance sheet for its DB Plans and other post-retirement benefits plans were as follows:
at December 31Pension
Benefit Plans		Other Post-Retirement
Benefit Plans
(millions of Canadian $)2022202120222021
Other long-term assets (Note 15)
400 119 163 193 
Accounts payable and other— — (8)(8)
Other long-term liabilities (Note 18)
— (1)(111)(173)
 400 118 44 12 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
Included in the above benefit obligation and fair value of plan assets were the following amounts for plans that were not fully funded:
at December 31Pension
Benefit Plans		Other Post-Retirement
Benefit Plans
(millions of Canadian $)2022202120222021
Projected benefit obligation1
— (2,687)(119)(183)
Plan assets at fair value— 2,686 — — 
Funded Status – Plan Deficit— (1)(119)(183)
1The projected benefit obligation for the pension benefit plans differs from the accumulated benefit obligation in that it includes an assumption with respect to future compensation levels.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets for All DB Plans
The funded status based on the accumulated benefit obligation for all DB Plans was as follows:
at December 3120222021
(millions of Canadian $)
Accumulated benefit obligation(2,880)(3,714)
Plan assets at fair value3,481 4,145 
Funded Status – Plan Surplus601 431 
Schedule of Weighted Average Asset Allocations and Target Allocations by Asset Category
The Company pension plans' weighted average asset allocations and target allocations by asset category were as follows:
at December 31Percentage of
Plan Assets		Target Allocations
202220212022
Fixed income securities38 %34 %
25% to 50%
Equity securities44 %53 %
30% to 55%
Other investments 18 %13 %
10% to 25%
 100 %100 % 
Schedule of Allocation of Plan Assets, Employer and Related Party Securities
Fixed income and equity securities include the Company's debt and common shares as follows:
at December 31 Percentage of
Plan Assets
(millions of Canadian $)2022202120222021
Fixed income securities7 7 0.2 %0.2 %
Equity securities3 5 0.1 %0.1 %
Schedule of Plan Assets for DB Plans and Other Post-Retirement Benefits Measured at Fair Value
The following table presents plan assets for DB Plans and other post-retirement benefits measured at fair value, which have been categorized into the three categories based on a fair value hierarchy. For additional information on the fair value hierarchy, refer to Note 28, Risk management and financial instruments.
at December 31Quoted Prices in
Active Markets
(Level I)		Significant Other Observable Inputs
(Level II)		Significant Unobservable Inputs
(Level III)		TotalPercentage of
Total Portfolio
(millions of Canadian $)2022202120222021202220212022202120222021
Asset Category
Cash and Cash Equivalents55 68 1 2 — — 56 70 1 2 
Equity Securities:
Canadian117 269 — 148 — — 117 417 3 9 
U.S.897 649 — 164 — — 897 813 24 18 
International172 126 172 354 — — 344 480 9 10 
Global— 111 75 313 — — 75 424 2 9 
Emerging50 25 127 120 — — 177 145 5 3 
Fixed Income Securities:
Canadian Bonds:
Federal— — 221 226 — — 221 226 6 5 
Provincial— — 249 331 — — 249 331 6 7 
Municipal— — 12 16 — — 12 16 — — 
Corporate— — 108 147 — — 108 147 3 4 
U.S. Bonds:
Federal177 433 158 15 — — 335 448 9 10 
Municipal— — 1 1 — — 1 1 — — 
Corporate345 67 94 143 — — 439 210 11 5 
International:
Government5 6 6 7 — — 11 13 — — 
Corporate— — 58 73 — — 58 73 1 2 
Mortgage backed36 42 1 5 — — 37 47 1 1 
Net forward contracts— — (78)— — — (78)— (2)— 
Other Investments:
Real estate— — — — 336 283 336 283 9 6 
Infrastructure— — — — 296 281 296 281 8 6 
Private equity funds— — — — — 1 — 1 — — 
Funds held on deposit144 150 — — — — 144 150 4 3 
 1,998 1,946 1,205 2,065 632 565 3,835 4,576 100 100 
Schedule of the Net Change in the Level III Fair Value Category
The following table presents the net change in the Level III fair value category:
(millions of Canadian $, pre-tax)
Balance at December 31, 2020417 
Purchases and sales100 
Realized and unrealized gains48 
Balance at December 31, 2021565 
Purchases and sales52 
Realized and unrealized gains15 
Balance at December 31, 2022632 
Schedule of Estimated Future Benefit Payments
The following are estimated future benefit payments, which reflect expected future service:
(millions of Canadian $)Pension BenefitsOther Post-Retirement Benefits
2023210 25 
2024214 24 
2025217 24 
2026221 23 
2027224 23 
2028 to 20321,160 111 
Schedule of Weighted Average Assumptions Used in Calculating Benefit Obligation
The significant weighted average actuarial assumptions adopted in measuring the Company's benefit obligations were as follows:
at December 31Pension
Benefit Plans		Other Post-Retirement
Benefit Plans
2022202120222021
Discount rate5.15 %3.05 %5.45 %3.10 %
Rate of compensation increase3.30 %2.95 %— — 
Schedule of Significant Weighted Average Actuarial Assumptions Adopted in Measuring Net Benefit Plan Costs The significant weighted average actuarial assumptions adopted in measuring the Company's net benefit plan costs were as follows:
year ended December 31Pension
Benefit Plans		Other Post-Retirement
Benefit Plans
202220212020202220212020
Discount rate3.05 %2.70 %3.20 %3.10 %2.80 %3.35 %
Expected long-term rate of return on plan assets6.10 %6.15 %6.40 %3.25 %3.00 %3.50 %
Rate of compensation increase3.00 %2.60 %3.00 %— — — 
Schedule of Net Benefit Costs
The net benefit cost recognized for the Company’s pension benefit plans and other post-retirement benefit plans was as follows:
year ended December 31Pension
Benefit Plans		Other Post-Retirement
Benefit Plans
(millions of Canadian $)202220212020202220212020
Service cost1
145 171 155 5 6 6 
Other components of net benefit cost1
Interest cost125 119 133 13 12 14 
Expected return on plan assets(239)(234)(230)(14)(13)(14)
Amortization of actuarial loss10 23 21 1 2 2 
Amortization of regulatory asset12 27 25 1 2 2 
Curtailment gain— (5)— — — — 
Settlement gain – AOCI(2)(2)— — — — 
(94)(72)(51)1 3 4 
Net Benefit Cost Recognized51 99 104 6 9 10 
1    Service cost and other components of net benefit cost are included in Plant operating costs and other in the Consolidated statement of income.
Schedule of the Pre-Tax Amounts Recognized in AOCI
Pre-tax amounts recognized in AOCI were as follows:
year ended December 31202220212020
Pension
Benefits		Other Post-
Retirement
Benefits		Pension
Benefits		Other Post-
Retirement
Benefits		Pension
Benefits		Other Post-
Retirement
Benefits
(millions of Canadian $)
Net loss38 24 147 5 358 22 
Schedule of the Pre-Tax Amounts Recognized in OCI
Pre-tax amounts recognized in OCI were as follows:
year ended December 31202220212020
Pension
Benefits		Other Post-
Retirement
Benefits		Pension
Benefits		Other Post-
Retirement
Benefits		Pension
Benefits		Other Post-
Retirement
Benefits
(millions of Canadian $)
Amortization of net loss from
AOCI to net income
(10)(1)(23)(2)(21)(2)
Curtailment— — — 3 — — 
Settlement 2 — 2 — — — 
Funded status adjustment(101)20 (190)(18)(18)3 
 (109)19 (211)(17)(39)1