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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Financial Instruments [Abstract]  
Summary of Long-term Debt
 
2023

2022
Canadian dollar denominated debt, unsecured
 

 
Medium-term notes



1.45% debentures due November 16, 2023
$— $404 
3.55% debentures due June 3, 2024
320 

332 
3.42% debentures due December 1, 2026
441 

441 
2.50% debentures due January 17, 2028
225 225 
4.85% debentures due May 30, 2047
300 

300 
 
1,286 1,702 
US dollar denominated debt, unsecured
  
US dollar debt securities



3.80% due April 15, 2024 (US$500 million)
660 

677 
3.90% due February 1, 2025 (US$600 million)
792 

812 
2.05% due July 15, 2025 (US$600 million)
792 812 
3.85% due June 1, 2027 (US$1,250 million)
1,651 

1,692 
2.95% due July 15, 2030 (US$500 million)
660 677 
7.20% due January 15, 2032 (US$400 million)
528 

541 
6.45% due June 30, 2033 (US$350 million)
462 

474 
5.85% due February 1, 2035 (US$350 million)
462 

474 
6.50% due February 15, 2037 (US$450 million)
594 

609 
6.25% due March 15, 2038 (US$1,100 million)
1,453 

1,488 
6.75% due February 1, 2039 (US$400 million)
528 

541 
4.95% due June 1, 2047 (US$750 million)
991 

1,015 
 
9,573 9,812 
Long-term debt before transaction costs and original issue discounts, net
10,859 11,514 
Less: original issue discounts, net (1)
11 

13 
transaction costs (1) (2)
49 

56 
 
10,799 11,445 
Less: current portion of long-term debt (1) (2)
980 

404 
 
$9,819 $11,041 
(1)The Company has included unamortized original issue discounts and premiums, and directly attributable transaction costs in the carrying amount of the outstanding debt.
(2)Transaction costs primarily represent underwriting commissions charged as a percentage of the related debt offerings, as well as legal, rating agency and other professional fees.
Schedule of Debt Repayments
Scheduled debt repayments are as follows:
YearRepayment
2024$980 
2025$1,584 
2026$441 
2027$1,651 
2028$225 
Thereafter$5,978 
The maturity dates of the Company’s financial liabilities were as follows:
 
Less than
1 year
1 to less than
2 years
2 to less than
5 years
Thereafter
Accounts payable$1,418 $— $— $— 
Accrued liabilities$3,534 $— $— $— 
Long-term debt (1)
$980 $1,584 $2,317 $5,978 
Other long-term liabilities (2)
$302 $184 $428 $645 
Interest and other financing expense (3)
$582 $518 $1,257 $3,362 
(1)Long-term debt represents principal repayments only and does not reflect interest, original issue discounts and premiums or transaction costs.
(2)Lease payments included within other long-term liabilities reflect principal payments only and are as follows; less than one year, $298 million; one to less than two years, $184 million; two to less than five years, $428 million; and thereafter, $645 million.
(3)Includes interest and other financing expense on long-term debt and other long-term liabilities. Payments were estimated based upon applicable interest and foreign exchange rates at December 31, 2023.