Properties (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Properties including finance leases


	As at	December 31, 2025										December 31, 2024
In millions		Depreciation rate (1)		Cost		Accumulated Depreciation		Net		Depreciation rate (1)		Cost		Accumulated Depreciation		Net
Properties including finance leases
Track and roadway (2)		2	%	$	48,970	$	10,678	$	38,292	3	%	$	48,744	$	11,557	$	37,187
Rolling stock		4	%	9,527		3,786		5,741		4	%	9,482		3,642		5,840
Buildings		3	%	2,579		930		1,649		3	%	2,452		848		1,604
Information technology (3)		8	%	3,277		1,597		1,680		9	%	3,128		1,460		1,668
Other		6	%	3,314		1,528		1,786		5	%	3,116		1,455		1,661
Total properties including finance leases (4)				$	67,667	$	18,519	$	49,148			$	66,922	$	18,962	$	47,960

Schedule of Finance leases included in properties


Finance leases included in properties
Track and roadway (5)	$	405	$	115	$	290	$	405	$	110	$	295
Rolling stock	12		2		10		12		2		10
Buildings	27		13		14		27		12		15
Other	97		43		54		102		41		61
Total finance leases included in properties	$	541	$	173	$	368	$	546	$	165	$	381

(1) Represents the weighted average depreciation rate.

(2) As at December 31, 2025, includes land of $2,628 million (2024 - $2,682 million).

(3) In 2025, the Company capitalized costs for internally developed software and related licenses of $173 million (2024 - $235 million).

(4) In 2025, property additions, net of finance leases, were $3,658 million (2024 - $3,549 million), of which $1,639 million (2024 - $1,564 million) related to track and railway infrastructure maintenance, including the replacement of rail, ties, bridge improvements, and other general track maintenance.

(5) As at December 31, 2025, includes right-of-way access of $106 million (2024 - $106 million).