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financing costs
 12 Months Ended
Dec. 31, 2020
financing costs  
financing costs

9     financing costs

 

 

 

 

 

 

 

 

 

 

Years ended December 31 (millions)

    

Note

    

2020

    

2019

Interest expense

 

 

 

 

 

 

 

 

Interest on long-term debt, excluding lease liabilities - gross

 

 

 

$

676

 

$

634

Interest on long-term debt, excluding lease liabilities - capitalized 1

 

18(a)

 

 

(37)

 

 

(23)

Interest on long-term debt, excluding lease liabilities

 

 

 

 

639

 

 

611

Interest on lease liabilities

 

19

 

 

70

 

 

67

Interest on short-term borrowings and other

 

 

 

 

 5

 

 

 8

Interest accretion on provisions

 

25

 

 

16

 

 

22

Long-term debt prepayment premium

 

26(b)

 

 

18

 

 

28

 

 

 

 

 

748

 

 

736

Employee defined benefit plans net interest

 

15

 

 

16

 

 

 1

Foreign exchange

 

 

 

 

14

 

 

 3

 

 

 

 

 

778

 

 

740

Interest income

 

 

 

 

(7)

 

 

(7)

 

 

 

 

$

771

 

$

733

Net interest cost

 

3

 

$

792

 

$

755

Interest on long-term debt , excluding lease liabilities - capitalized 1

 

 

 

 

(37)

 

 

(23)

Employee defined benefit plans net interest

 

 

 

 

16

 

 

 1

 

 

 

 

$

771

 

$

733

1

Interest on long-term debt, excluding lease liabilities at a composite rate of 4.33% was capitalized to intangible assets with indefinite lives in the periods.