v3.26.1
Pension and other benefits
6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Pension and other benefits Pension and other benefits
During the three months ended June 30, 2026, the Company received a refund, net of contributions, from its defined benefit pension plans of $1 million, and during the six months ended June 30, 2026, made contributions, net of refunds, of $2 million (three and six months ended June 30, 2025 - $4 million and $8 million contributions, net of refunds, respectively).
Net periodic benefit (recovery) cost for defined benefit pension plans and other benefits included the following components:        

For the three months ended June 30
PensionsOther benefitsTotal
(in millions of Canadian dollars)202620252026202520262025
Current service cost $19 $21 $3 $$22 $25 
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation118 116 6 124 122 
Expected return on plan assets(234)(231) — (234)(231)
Recognized net actuarial (gain) loss(1) (1)(1)
Amortization of prior service costs1  — 1 
Total other components of net periodic benefit (recovery) cost(116)(112)6 (110)(107)
Net periodic benefit (recovery) cost$(97)$(91)$9 $$(88)$(82)

For the six months ended June 30
PensionsOther benefitsTotal
(in millions of Canadian dollars)202620252026202520262025
Current service cost $38 $42 $6 $$44 $49 
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation236 233 11 11 247 244 
Expected return on plan assets(468)(463) — (468)(463)
Recognized net actuarial (gain) loss(2) (1)(2)
Amortization of prior service costs3  — 3 
Total other components of net periodic benefit (recovery) cost(231)(224)11 10 (220)(214)
Net periodic benefit (recovery) cost$(193)$(182)$17 $17 $(176)$(165)