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Debt and Credit Facilities (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt and Credit Facilities |
Schedule of short and long term debt | Short-Term Debt
​ | ​ | ​ | ​ | ​
​ |  | December 31 |  | December 31
($ millions) | ​ | 2022 | ​ | 2021
Commercial paper(1) |  | 2 807 |  | 1 284
(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 $5.0 billion having a term not to exceed 365 days. The weighted average interest rate as at December 31, 2022 was 4.93% (December 31, 2021 - 0.33%).
Long-Term Debt
​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31 |  | December 31 |
($ millions) | ​ | 2022 | ​ | 2021 |
Fixed-term debt(2)(3) | ​ | ​ | ​ | ​ | ​
4.50% Notes, due 2022 (US$182)(4) |  | - |  | 231 | ​
2.80% Notes, due 2023 (US$450) | ​ | - | ​ | 569 | ​
3.10% Notes, due 2025 (US$550) | ​ | - | ​ | 696 | ​
3.00% Series 5 Medium Term Notes, due 2026 |  | 115 |  | 699 | ​
7.875% Debentures, due 2026 (US$275) |  | 381 |  | 359 | ​
8.20% Notes, due 2027 (US$59)(4) |  | 61 |  | 78 | ​
7.00% Debentures, due 2028 (US$250) |  | 342 |  | 320 | ​
3.10% Series 6 Medium Term Notes, due 2029 | ​ | 79 | ​ | 748 | ​
5.00% Series 7 Medium Term Notes, due 2030 | ​ | 154 | ​ | 1 247 | ​
7.15% Notes, due 2032 (US$500) |  | 676 |  | 631 | ​
5.35% Notes, due 2033 (US$300) |  | 161 |  | 355 | ​
5.95% Notes, due 2034 (US$500) |  | 675 |  | 630 | ​
5.95% Notes, due 2035 (US$600) |  | 268 |  | 731 | ​
5.39% Series 4 Medium Term Notes, due 2037 |  | 279 |  | 599 | ​
6.50% Notes, due 2038 (US$1 150) |  | 1 553 |  | 1 451 | ​
6.80% Notes, due 2038 (US$900) |  | 1 235 |  | 1 156 | ​
6.85% Notes, due 2039 (US$750) |  | 1 013 |  | 946 | ​
6.00% Notes, due 2042 (US$152)(4) |  | 35 |  | 149 | ​
4.34% Series 5 Medium Term Notes, due 2046 | ​ | 300 | ​ | 300 | ​
4.00% Notes, due 2047 (US$750) |  | 1 011 |  | 945 | ​
3.95% Series 8 Medium Term Notes, due 2051 | ​ | 493 | ​ | 493 | ​
3.75% Notes, due 2051 (US$750) |  | 1 009 |  | 945 | ​
Total unsecured long-term debt |  | 9 840 |  | 14 278 | ​
​ | ​ | ​ | ​ | ​ | ​
Lease liabilities(5) | ​ | 3 012 | ​ | 2 850 | ​
Deferred financing costs |  | (40) |  | (58) | ​
​ |  | 12 812 |  | 17 070 | ​
Current portion of long-term debt and lease liabilities | ​ | ​ | ​ | ​ | ​
Lease liabilities | ​ | (317) | ​ | (310) | ​
Long-term debt | ​ | - | ​ | (231) | ​
​ |  | (317) |  | (541) | ​
Total long-term lease liabilities | ​ | 2 695 | ​ | 2 540 | ​
Total long-term debt |  | 9 800 |  | 13 989 | ​
(2) | The value of debt includes the unamortized balance of premiums or discounts.
(3) | Certain securities are redeemable at the option of the company.
(4) | Debt acquired through the acquisition of Canadian Oil Sands Limited (COS).
(5) | Interest rates range from 0.4% to 13.4% and maturity dates range from 2023 to 2062.
​
Scheduled principal repayments for leases liabilities, short term debt and long term debt | Scheduled principal repayments as at December 31, 2022 for lease liabilities, short-term debt and long-term debt are as follows:
​ | ​ | ​ | ​
($ millions) |  | Repayment |
2023 |  | 3 124 | ​
2024 |  | 264 | ​
2025 |  | 241 | ​
2026 |  | 691 | ​
2027 |  | 244 | ​
Thereafter |  | 11 101 | ​
​ |  | 15 665 | ​
​
Summary of available and unutilized credit facilities | A summary of available and unutilized credit facilities is as follows:
​ | ​ | ​ | ​
($ millions) |  | 2022 |
Fully revolving and expires in 2026 |  | 3 000 | ​
Fully revolving and expires in 2025 |  | 2 707 | ​
Can be terminated at any time at the option of the lenders |  | 1 520 | ​
Total credit facilities |  | 7 227 | ​
Credit facilities supporting outstanding commercial paper |  | (2 807) | ​
Credit facilities supporting standby letters of credit |  | (1 148) | ​
Total unutilized credit facilities(1) |  | 3 272 | ​
​
| (1) | Available credit facilities for liquidity purposes at December 31, 2022 decreased to $2.900 billion, compared to $4.247 billion at December 31, 2021.

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