BORROWINGS (Tables)

6 Months Ended

Jun. 30, 2026

Financial Instruments [Abstract]

Disclosure of detailed information about borrowings


			Maturity						Annual Rate						Currency						As of
																					June 30, 2026						December 31, 2025
Corporate revolving credit facility			June 29, 2031						SOFR plus 1.2%						US$						$	700					$	—

Commercial paper(1)			July 27, 2026						4.1%						US$						467						735





Non-current:
Medium-term notes:
Public - Canadian			November 14, 2027						5.6%						C$						317						328
Public - Canadian			September 11, 2028						4.2%						C$						493						510
Public - Canadian			October 9, 2029						3.4%						C$						493						510
Public - Canadian			July 27, 2030						5.7%						C$						352						364
Public - Canadian			January 6, 2031						3.7%						C$						264						273
Public - Canadian			September 1, 2032						2.9%						C$						352						364
Public - Canadian			February 14, 2033						6.0%						C$						176						182
Public - Canadian			April 25, 2034						5.4%						C$						281						291
Public - Canadian			September 24, 2035						4.5%						C$						229						237
Public - Canadian			April 25, 2052						5.8%						C$						141						146
Public - Canadian			July 27, 2053						6.0%						C$						141						146

Subordinated notes:
Public - United States			March 15, 2055						6.8%						US$						300						300
Public - Canadian			September 1, 2055						5.6%						C$						177						183
Public – United States			May 24, 2081						5.0%						US$						250						250
Public – United States			May 31, 2084						7.3%						US$						158						158
																					5,291						4,977
Deferred financing costs and other																					(28)						(30)
Total																					$	5,263					$	4,947

1.Maturity and annual rate associated with our commercial paper program represents a weighted average of all outstanding obligations as of June 30, 2026.


			As of
US$ MILLIONS			June 30, 2026						December 31, 2025
Current			$	3,774					$	6,013
Non-current			53,428						53,538
Total			$	57,202					$	59,551