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LEASES | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
LEASES | LEASES We incur operating lease expenses related primarily to real estate, pipelines, storage and equipment. Our operating leases have remaining lease terms of 3 months to 28 years. For the three and nine months ended September 30, 2019, we incurred operating lease expenses of $28 million and $84 million, respectively. Operating lease expenses are reported under Operating and administrative expenses on the Consolidated Statements of Earnings. For the three and nine months ended September 30, 2019, operating lease payments to settle lease liabilities were $31 million and $92 million, respectively. Operating lease payments are reported under operating activities in the Consolidated Statements of Cash Flows. Supplemental Statements of Financial Position Information
| September 30, 2019 |  | January 1, 2019 |
(millions of Canadian dollars, except lease term and discount rate) |  |
Operating leases |  |
Operating lease right-of-use assets, net 1 | 733 |  | 771 |
Operating lease liabilities - current 2 | 99 |  | 86 |
Operating lease liabilities - long-term 3 | 705 |  | 770 |
Total operating lease liabilities | 804 |  | 856 |
Weighted average remaining lease term |  |
Operating leases | 13 years |  | 14 years |
Weighted average discount rate |  |
Operating leases | 4.3 | % | 4.3 | %
1 | Right-of-use assets are reported under Deferred amounts and other assets in the Consolidated Statements of Financial Position.
2 | Current lease liabilities are reported under Accounts payable and other in the Consolidated Statements of Financial Position.
3 | Long-term lease liabilities are reported under Other long-term liabilities in the Consolidated Statements of Financial Position.
As at September 30, 2019, we have operating lease commitments as detailed below:
| Operating leases |
(millions of Canadian dollars) |
2019 1 | 30 |
2020 | 126 |
2021 | 98 |
2022 | 92 |
2023 | 82 |
Thereafter | 666 |
Total undiscounted lease payments | 1,094 |
Less imputed interest | (290 | )
Total operating lease commitments | 804 |
1 | For the three months remaining in the 2019 fiscal year.
LESSOR We have operating leases primarily related to natural gas and crude oil storage and processing facilities, rail cars, and wind power generation assets. Our leases have remaining lease terms of 1 month to 24 years.
| Three months ended September 30, 2019 |  | Nine months ended September 30, 2019 |
(millions of Canadian dollars) |  |
Operating lease income | 67 |  | 196 |
Variable lease income | 77 |  | 262 |
Total lease income | 144 |  | 458 |
The following table sets out future minimum lease payments expected to be received under operating lease contracts where we are the lessor:
| Operating leases |
(millions of Canadian dollars) |
2019 1 | 64 |
2020 | 238 |
2021 | 200 |
2022 | 189 |
2023 | 178 |
Thereafter | 2,448 |
Total undiscounted lease payments | 3,317 |
1 For the three months remaining in the 2019 fiscal year.
LEASES | LEASES We incur operating lease expenses related primarily to real estate, pipelines, storage and equipment. Our operating leases have remaining lease terms of 3 months to 28 years. For the three and nine months ended September 30, 2019, we incurred operating lease expenses of $28 million and $84 million, respectively. Operating lease expenses are reported under Operating and administrative expenses on the Consolidated Statements of Earnings. For the three and nine months ended September 30, 2019, operating lease payments to settle lease liabilities were $31 million and $92 million, respectively. Operating lease payments are reported under operating activities in the Consolidated Statements of Cash Flows. Supplemental Statements of Financial Position Information
| September 30, 2019 |  | January 1, 2019 |
(millions of Canadian dollars, except lease term and discount rate) |  |
Operating leases |  |
Operating lease right-of-use assets, net 1 | 733 |  | 771 |
Operating lease liabilities - current 2 | 99 |  | 86 |
Operating lease liabilities - long-term 3 | 705 |  | 770 |
Total operating lease liabilities | 804 |  | 856 |
Weighted average remaining lease term |  |
Operating leases | 13 years |  | 14 years |
Weighted average discount rate |  |
Operating leases | 4.3 | % | 4.3 | %
1 | Right-of-use assets are reported under Deferred amounts and other assets in the Consolidated Statements of Financial Position.
2 | Current lease liabilities are reported under Accounts payable and other in the Consolidated Statements of Financial Position.
3 | Long-term lease liabilities are reported under Other long-term liabilities in the Consolidated Statements of Financial Position.
As at September 30, 2019, we have operating lease commitments as detailed below:
| Operating leases |
(millions of Canadian dollars) |
2019 1 | 30 |
2020 | 126 |
2021 | 98 |
2022 | 92 |
2023 | 82 |
Thereafter | 666 |
Total undiscounted lease payments | 1,094 |
Less imputed interest | (290 | )
Total operating lease commitments | 804 |
1 | For the three months remaining in the 2019 fiscal year.
LESSOR We have operating leases primarily related to natural gas and crude oil storage and processing facilities, rail cars, and wind power generation assets. Our leases have remaining lease terms of 1 month to 24 years.
| Three months ended September 30, 2019 |  | Nine months ended September 30, 2019 |
(millions of Canadian dollars) |  |
Operating lease income | 67 |  | 196 |
Variable lease income | 77 |  | 262 |
Total lease income | 144 |  | 458 |
The following table sets out future minimum lease payments expected to be received under operating lease contracts where we are the lessor:
| Operating leases |
(millions of Canadian dollars) |
2019 1 | 64 |
2020 | 238 |
2021 | 200 |
2022 | 189 |
2023 | 178 |
Thereafter | 2,448 |
Total undiscounted lease payments | 3,317 |
1 For the three months remaining in the 2019 fiscal year.

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