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CAPITAL STRUCTURE FINANCIAL POLICIES - (Tables)

12 Months Ended

Dec. 31, 2021

CAPITAL STRUCTURE FINANCIAL POLICIES

Schedule of components of ratios


		Capital
		Measure		December 31		December 31
($ millions)		Target		2021		2020
Components of ratios
Short-term debt				1 284		3 566
Current portion of long-term debt				231		1 413
Current portion of long-term lease liabilities				310		272
Long-term debt				13 989		13 812
Long-term lease liabilities				2 540		2 636
Total debt⁽¹⁾				18 354		21 699
Less: Cash and cash equivalents				2 205		1 885
Net debt⁽¹⁾				16 149		19 814
Shareholders’ equity				36 614		35 757
Total capitalization (total debt plus shareholders’ equity)				54 968		57 456
Adjusted funds from operations⁽²⁾				10 257		3 876
Net debt to adjusted funds from operations		<3.0 times		1.6		5.1
Total debt to total debt plus shareholders’ equity		20% - 35%		33.4%		37.8%

(1)	Total debt and net debt are non-GAAP financial measures.

(2)	Adjusted funds from operations is calculated as cash flow from operating activities before changes in non-cash working capital, and is a non-GAAP financial measure.