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LEASES | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
LEASES | LEASES LESSEE 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 year ended December 31, 2019, we incurred operating lease expenses of $113 million. Operating lease expenses are reported under Operating and administrative expenses on the Consolidated Statements of Earnings. For the year ended December 31, 2019, operating lease payments to settle lease liabilities were $123 million. Operating lease payments are reported under operating activities in the Consolidated Statements of Cash Flows. Supplemental Statements of Financial Position Information
| December 31, 2019 |  | January 1, 2019 |
(millions of Canadian dollars, except lease term and discount rate) |  |
Operating leases |  |
Operating lease right-of-use assets, net 1 | 713 |  | 771 |
Operating lease liabilities - current 2 | 94 |  | 86 |
Operating lease liabilities - long-term 3 | 689 |  | 770 |
Total operating lease liabilities | 783 |  | 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 December 31, 2019, our operating lease liabilities are expected to mature as follows:
| Operating leases |
(millions of Canadian dollars) |
2020 | 128 |
2021 | 99 |
2022 | 94 |
2023 | 84 |
2024 | 79 |
Thereafter | 588 |
Total undiscounted lease payments | 1,072 |
Less imputed interest | (289 | )
Total operating lease liabilities | 783 |
LESSOR We receive revenues from operating leases primarily related to natural gas and crude oil storage and processing facilities, rail cars, and wind power generation assets. Our operating leases have remaining lease terms of 2 months to 24 years.
Year ended December 31, | 2019 |
(millions of Canadian dollars) |
Operating lease income | 265 |
Variable lease income | 360 |
Total lease income 1 | 625 |
1 | Lease income is recorded under Transportation and other services in the Consolidated Statements of Earnings.
As at December 31, 2019, 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) |
2020 | 236 |
2021 | 199 |
2022 | 188 |
2023 | 180 |
2024 | 178 |
Thereafter | 2,276 |
Future lease payments | 3,257 |
LEASES | LEASES LESSEE 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 year ended December 31, 2019, we incurred operating lease expenses of $113 million. Operating lease expenses are reported under Operating and administrative expenses on the Consolidated Statements of Earnings. For the year ended December 31, 2019, operating lease payments to settle lease liabilities were $123 million. Operating lease payments are reported under operating activities in the Consolidated Statements of Cash Flows. Supplemental Statements of Financial Position Information
| December 31, 2019 |  | January 1, 2019 |
(millions of Canadian dollars, except lease term and discount rate) |  |
Operating leases |  |
Operating lease right-of-use assets, net 1 | 713 |  | 771 |
Operating lease liabilities - current 2 | 94 |  | 86 |
Operating lease liabilities - long-term 3 | 689 |  | 770 |
Total operating lease liabilities | 783 |  | 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 December 31, 2019, our operating lease liabilities are expected to mature as follows:
| Operating leases |
(millions of Canadian dollars) |
2020 | 128 |
2021 | 99 |
2022 | 94 |
2023 | 84 |
2024 | 79 |
Thereafter | 588 |
Total undiscounted lease payments | 1,072 |
Less imputed interest | (289 | )
Total operating lease liabilities | 783 |
LESSOR We receive revenues from operating leases primarily related to natural gas and crude oil storage and processing facilities, rail cars, and wind power generation assets. Our operating leases have remaining lease terms of 2 months to 24 years.
Year ended December 31, | 2019 |
(millions of Canadian dollars) |
Operating lease income | 265 |
Variable lease income | 360 |
Total lease income 1 | 625 |
1 | Lease income is recorded under Transportation and other services in the Consolidated Statements of Earnings.
As at December 31, 2019, 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) |
2020 | 236 |
2021 | 199 |
2022 | 188 |
2023 | 180 |
2024 | 178 |
Thereafter | 2,276 |
Future lease payments | 3,257 |

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