| | | | | | | | | | | | | June 30, | | December 31, | As at (millions) | | Note | | 2026 | | 2025 | Pension assets | | 15 | | $ | 234 | | $ | 235 | Unbilled customer finance receivables | | 4(a) | | | 552 | | | 586 | Derivative assets | | 4(d) | | | 87 | | | 40 | Deferred income taxes | | | | | 77 | | | 74 | Costs incurred to obtain or fulfill contracts with customers | | | | | 372 | | | 370 | Investments in real estate joint ventures | | 21(a) | | | 254 | | | 240 | Investments in associates | | 21(b) | | | 207 | | | 198 | Portfolio investments 1 | | | | | | | | | At fair value through net income | | | | | 88 | | | 78 | At fair value through other comprehensive income | | | | | 702 | | | 648 | Prepaid maintenance | | | | | 57 | | | 38 | Refundable security deposits and other | | | | | 170 | | | 169 | | | | | $ | 2,800 | | $ | 2,676 |
1Fair value measured at reporting date using significant other observable inputs (Level 2). The costs incurred to obtain and fulfill contracts with customers are as follows: | | | | | | | | | | | | Costs incurred to | | | | | | Obtain | | Fulfill contracts | | | | | | contracts with | | with | | | | (millions) | | customers | | customers | | Total | Balance as at April 1, 2026 | | $ | 595 | | $ | 87 | | $ | 682 | Additions | | | 125 | | | 8 | | | 133 | Amortization | | | (106) | | | (2) | | | (108) | Balance as at June 30, 2026 | | $ | 614 | | $ | 93 | | $ | 707 | Balance as at January 1, 2026 | | $ | 701 | | $ | 82 | | $ | 783 | Additions | | | 261 | | | 16 | | | 277 | Amortization 1 | | | (348) | | | (5) | | | (353) | Balance as at June 30, 2026 | | $ | 614 | | $ | 93 | | $ | 707 | Current | | $ | 301 | | $ | 34 | | $ | 335 | Non-current | | | 313 | | | 59 | | | 372 | | | $ | 614 | | $ | 93 | | $ | 707 |
1 | For the three-month and six-month periods ended June 30, 2026, $NIL (2025 – $NIL) and $130 (2025 – $NIL), respectively of amortization of costs incurred to obtain contracts with customers was included in restructuring and other costs. |
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