v3.25.4
Other long-term obligations
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Other long-term obligations Other long-term obligations
millions of Canadian dollars2025 2024 
Employee retirement benefits (a) (note 4)
811 846 
Asset retirement obligations and other environmental liabilities (b) (c)
3,348 2,641 
Share-based incentive compensation liabilities (note 7)
198 119 
Operating lease liability (note 13)
149 144 
Restructuring liability (note 11)
173 — 
Other obligations
280 120 
Total other long-term obligations4,959 3,870 
(a)Total recorded employee retirement benefits obligations also included $63 million in current liabilities (2024 - $61 million).
(b)Total asset retirement obligations and other environmental liabilities also included $318 million in current liabilities (2024 - $291 million).
(c)For 2025, the asset retirement obligations were discounted at 6 percent (2024 - 6 percent). Asset retirement obligations incurred in the current period were level 3 fair value measurements.

The following table summarizes the activity in the liability for asset retirement obligations:
millions of Canadian dollars2025 2024 2023 
Balance as at January 12,833 2,703 2,178 
Additions (deductions)721 96 471 
Accretion171 163 132 
Settlement(195)(129)(78)
Balance as at December 313,530 2,833 2,703 
Estimated cash payments for asset retirement obligations are $241 million in 2026 and $227 million in 2027.