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Debt And Credit Facilities (Tables) | 12 Months Ended
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Dec. 31, 2017
Financing (Income) Expenses |
Debt and credit facilities are comprised of: | Short-Term Debt
($ millions) |  | Dec 31 2017 |  | Dec 31 2016 |
Commercial paper(1) |  | 2 136 |  | 1 273 |
(1) | The commercial paper is supported by a revolving credit facility with a syndicate of lenders. The company is authorized to issue commercial paper to a maximum of $4.0 billion having a term not to exceed 365 days. The weighted average interest rate as at December 31, 2017 was 1.56% (December 31, 2016 – 0.97%). Subsequent to year end, the maximum amount authorized to issue under commercial paper is increased to $5.0 billion
Long-Term Debt
($ millions) |  | Dec 31 2017 |  | Dec 31 2016 |  |
Fixed-term debt, redeemable at the option of the company(2) |  |  |  |  |  |
| 6.10% Notes, due 2018 (US$1,250) |  | — |  | 1 678 |  |
| 6.05% Notes, due 2018 (US$600) |  | — |  | 809 |  |
| 5.80% Series 4 Medium Term Notes, due 2018 |  | — |  | 700 |  |
| 7.75% Notes, due 2019 (US$223)(3) |  | 288 |  | 317 |  |
| 3.10% Series 5 Medium Term Notes, due 2021 |  | 749 |  | 748 |  |
| 9.25% Debentures, due 2021 (US$300) |  | 406 |  | 440 |  |
| 9.40% Notes, due 2021 (US$220)(3)(4) |  | 298 |  | 325 |  |
| 4.50% Notes, due 2022 (US$182)(3) |  | 212 |  | 225 |  |
| 3.60% Notes, due 2024 (US$750) |  | 936 |  | 1 002 |  |
| 3.00% Series 5 Medium Term Notes, due 2026(5) |  | 698 |  | 698 |  |
| 7.875% Debentures, due 2026 (US$275) |  | 365 |  | 391 |  |
| 8.20% Notes, due 2027 (US$59)(3) |  | 81 |  | 87 |  |
| 7.00% Debentures, due 2028 (US$250) |  | 319 |  | 342 |  |
| 7.15% Notes, due 2032 (US$500) |  | 626 |  | 670 |  |
| 5.35% Notes, due 2033 (US$300) |  | 344 |  | 368 |  |
| 5.95% Notes, due 2034 (US$500) |  | 625 |  | 669 |  |
| 5.95% Notes, due 2035 (US$600) |  | 718 |  | 769 |  |
| 5.39% Series 4 Medium Term Notes, due 2037 |  | 599 |  | 599 |  |
| 6.50% Notes, due 2038 (US$1,150) |  | 1 439 |  | 1 540 |  |
| 6.80% Notes, due 2038 (US$900) |  | 1 151 |  | 1 231 |  |
| 6.85% Notes, due 2039 (US$750) |  | 938 |  | 1 004 |  |
| 6.00% Notes, due 2042 (US$152)(3) |  | 140 |  | 151 |  |
| 4.34% Series 5 Medium Term Notes, due 2046(6) |  | 300 |  | 300 |  |
| 4.00% Notes, due 2047 (US$750)(7) |  | 936 |  | — |  |
Total unsecured long term debt |  | 12 168 |  | 15 063 |  |
Finance leases(8) |  | 1 319 |  | 1 134 |  |
Deferred financing costs |  | (44 | ) | (40 | ) |
|  | 13 443 |  | 16 157 |  |
Current portion of long-term debt |  |  |  |  |  |
| Finance leases |  | (71 | ) | (54 | ) |
|  | (71 | ) | (54 | ) |
Total long-term debt |  | 13 372 |  | 16 103 |  |
(2) | The value of debt includes the unamortized balance of premiums or discounts.
(3) | Debt acquired through the acquisition of COS (note 7).
(4) | Subsequent to the acquisition of COS, Moody's Investors Service downgraded COS long-term senior debt rating from Baa3 (negative outlook) to Ba3 (stable outlook). This triggered a change in the coupon rate of the note from 7.9% to 9.4%.
(5) | In September 2016, the company issued $700 million of senior unsecured Series 5 Medium Term notes maturing on September 14, 2026. The notes have a coupon of 3.00% and were priced at $99.751 per note for an effective yield of 3.029%. Interest is paid semi-annually.
(6) | In September 2016, the company issued $300 million of senior unsecured Series 5 Medium Term notes maturing on September 13, 2046. The notes have a coupon of 4.34% and were priced at $99.900 per note for an effective yield of 4.346%. Interest is paid semi-annually.
(7) | During the fourth quarter of 2017, the company issued US$750 million of senior unsecured notes maturing on November 15, 2047. The notes have a coupon of 4.00% and were priced at $99.498 per note for an effective yield of 4.029%. Interest is paid semi-annually.
(8) | Interest rates range from 2.9% to 16.5% and maturity dates range from 2027 to 2062.
Scheduled principal repayments for finance leases, short term debt and long term debt | Scheduled principal repayments as at December 31, 2017 for finance leases, short-term debt and long-term debt are as follows:
($ millions) |  | Repayment |
2018 |  | 2 207 |
2019 |  | 313 |
2020 |  | 39 |
2021 |  | 1 444 |
2022 |  | 272 |
Thereafter |  | 11 371 |
|  | 15 646 |
Summary of available and unutilized credit facilities |
($ millions) |  | 2017 |  |
Fully revolving and expires in 2021 |  | 4 000 |  |
Fully revolving and expires in 2020 |  | 2 504 |  |
Fully revolving and expires in 2018/2019 |  | 1 580 |  |
Can be terminated at any time at the option of the lenders |  | 140 |  |
Total credit facilities |  | 8 224 |  |
Credit facilities supporting outstanding commercial paper |  | (2 136 | ) |
Credit facilities supporting standby letters of credit(1) |  | (1 367 | ) |
Total unutilized credit facilities(2) |  | 4 721 |  |
(1) | To reduce costs, the company supported certain credit facilities with $733 million of cash collateral as at December 31, 2017 (December 31, 2016 – $1.032 billion).
(2) | Available credit facilities for liquidity purposes at December 31, 2017 decreased to $4.489 billion compared to $7.467 billion at December 31, 2016, as a result of a planned $1.0 billion reduction in the company's credit facility, the company's cancellation of a $950 million credit facility that was acquired through the acquisition of COS and an increase in short-term indebtedness. The decrease in the company's credit facility and the cancellation of the credit facility were executed in 2017 as the excess liquidity is no longer anticipated to be required and the reduction will reduce future financing expense.

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