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RESTRICTED LONG-TERM INVESTMENTS | 12 Months Ended
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Dec. 31, 2022
Assets Held-in-trust [Abstract] |
RESTRICTED LONG-TERM INVESTMENTS | RESTRICTED LONG-TERM INVESTMENTS Effective January 1, 2015, we began collecting and setting aside funds to cover future pipeline abandonment costs for all CER regulated pipelines as a result of the CER’s regulatory requirements under LMCI. The funds collected are held in trusts in accordance with the CER decision. The funds collected from shippers are reported within Transportation and other services revenues in the Consolidated Statements of Earnings and Restricted long-term investments in the Consolidated Statements of Financial Position. Concurrently, we reflect the future abandonment cost as an increase to Operating and administrative expense in the Consolidated Statements of Earnings and Other long-term liabilities in the Consolidated Statements of Financial Position. We routinely invest excess cash and various restricted balances in securities such as commercial paper, bankers acceptances, corporate debt securities, Canadian equity securities, treasury bills and money market securities in the US and Canada. As at December 31, 2022 and 2021, we had restricted long-term investments held in trust and classified as available-for-sale of $593 million and $630 million, respectively. We had Restricted long-term investments held in trust totaling $236 million and $217 million as at December 31, 2022 and 2021, respectively, which are classified as Level 1 in the fair value hierarchy. We also had Restricted long-term investments held in trust totaling $357 million (cost basis - $437 million) and $413 million (cost basis - $383 million) as at December 31, 2022 and 2021, respectively, which are classified as Level 2 in the fair value hierarchy. There were unrealized holding losses of $122 million and $8 million on our Restricted long-term investments for the years ended December 31, 2022 and 2021, respectively. Within Other long-term liabilities we had estimated future abandonment costs related to LMCI of $610 million and $649 million as at December 31, 2022 and 2021, respectively (Note 7).

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- Definition The entire disclosure for assets that are restricted in their use, generally by contractual agreements or regulatory requirements. This would include, but not limited to, a description of the restricted assets and the terms of the restriction. + References No definition available. + Details
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