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CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Schedule of Long-term Debt Issuances | The following are long-term debt issuances made during 2018 and 2017, excluding the debt exchange discussed below:
Company | Issue Date |  |  | Principal Amount |
(millions of Canadian dollars unless otherwise stated) |  |
Enbridge Inc. |  |  |
| March 2018 | Fixed-to-floating rate subordinated notes due March 2078 1 | US$850 |
| April 2018 | Fixed-to-floating rate subordinated notes due April 2078 2 |  | $750 |
| April 2018 | Fixed-to-floating rate subordinated notes due April 2078 3 | US$600 |
| May 2017 | Floating rate notes due May 2019 4 |  | $750 |
| June 2017 | 3.19% medium-term notes due December 2022 |  | $450 |
| June 2017 | 3.20% medium-term notes due June 2027 |  | $450 |
| June 2017 | 4.57% medium-term notes due March 2044 |  | $300 |
| June 2017 | Floating rate notes due June 2020 5 | US$500 |
| July 2017 | 2.90% senior notes due July 2022 | US$700 |
| July 2017 | 3.70% senior notes due July 2027 | US$700 |
| July 2017 | Fixed-to-floating rate subordinated notes due July 2077 6 | US$1,000 |
| September 2017 | Fixed-to-floating rate subordinated notes due September 2077 7 |  | $1,000 |
| October 2017 | Fixed-to-floating rate subordinated notes due September 2077 7 |  | $650 |
| October 2017 | Floating rate notes due January 2020 8 | US$700 |
Enbridge Gas Distribution Inc. |  |  |
| November 2017 | 3.51% medium-term notes due November 2047 |  | $300 |
Spectra Energy Partners, LP |  |  |
| January 2018 | 3.50% senior notes due January 2028 9 | US$400 |
| January 2018 | 4.15% senior notes due January 2048 9 | US$400 |
| June 2017 | Floating rate notes due June 2020 10 | US$400 |
Union Gas Limited |  |  |
| November 2017 | 2.88% medium-term notes due November 2027 |  | $250 |
| November 2017 | 3.59% medium-term notes due November 2047 |  | $250 |
1 | Notes mature in 60 years and are callable on or after year 10. For the initial 10 years, the notes carry a fixed interest rate of 6.25%. Subsequently, the interest rate will be set to equal the three-month LIBOR plus a margin of 364 basis points from years 10 to 30, and a margin of 439 basis points from years 30 to 60.
2 | Notes mature in 60 years and are callable on or after year 10. For the initial 10 years, the notes carry a fixed interest rate of 6.625%. Subsequently, the interest rate will be set to equal the Canadian Dollar Offered Rate plus a margin of 432 basis points from years 10 to 30, and a margin of 507 basis points from years 30 to 60.
3 | Notes mature in 60 years and are callable on or after year five. For the initial five years, the notes carry a fixed interest rate of 6.375%. Subsequently, the interest rate will be set to equal the three-month LIBOR plus a margin of 359 basis points from years five to 10, a margin of 384 basis points from years 10 to 25, and a margin of 459 basis points from years 25 to 60.
4 | Carries an interest rate equal to the three-month Bankers' Acceptance Rate plus 59 basis points.
5 | Carries an interest rate equal to the three-month LIBOR plus 70 basis points.
6 | Matures in 60 years and are callable on or after year 10. For the initial 10 years, the notes carry a fixed interest rate of 5.5%. Subsequently, the interest rate will be set to equal the three-month LIBOR plus a margin of 342 basis points from year 10 to 30, and a margin of 417 basis points from year 30 to 60.
7 | Matures in 60 years and are callable on or after year 10. For the initial 10 years, the notes carry a fixed interest rate of 5.4%. Subsequently, the interest rate will be set to equal the three-month Bankers' Acceptance Rate plus a margin of 325 basis points from year 10 to 30, and a margin of 400 basis points from year 30 to 60.
8 | Carries an interest rate equal to the three-month LIBOR plus 40 basis points.
9 | Issued through Texas Eastern Transmission, L.P. (Texas Eastern), a wholly-owned operating subsidiary of SEP.
10 | Carries an interest rate equal to the three-month LIBOR plus 70 basis points.
Consenting SEP notes and EEP notes under Guarantee
SEP Notes 1 | EEP Notes 2
Floating Rate Senior Notes due 2020 | 9.875% Notes due 2019
4.600% Senior Notes due 2021 | 5.200% Notes due 2020
4.750% Senior Notes due 2024 | 4.375% Notes due 2020
3.500% Senior Notes due 2025 | 4.200% Notes due 2021
3.375% Senior Notes due 2026 | 5.875% Notes due 2025
5.950% Senior Notes due 2043 | 5.950% Notes due 2033
4.500% Senior Notes due 2045 | 6.300% Notes due 2034
| 7.500% Notes due 2038
| 5.500% Notes due 2040
| 7.375% Notes due 2045
1 | As at the effective date of the guarantees, the aggregate outstanding principal amount of SEP notes was approximately US$3.9 billion.
2 | As at the effective date of the guarantees, the aggregate outstanding principal amount of EEP notes was approximately US$4.5 billion.
Enbridge Notes under Guarantees
USD Denominated 1 | CAD Denominated 2
Senior Floating Rate Notes due 2020 | 4.100% Senior Notes due 2019
Senior Floating Rate Notes due 2020 | Senior Floating Rate Notes due 2019
2.900% Senior Notes due 2022 | 4.770% Senior Notes due 2019
4.000% Senior Notes due 2023 | 4.530% Senior Notes due 2020
3.500% Senior Notes due 2024 | 4.850% Senior Notes due 2020
4.250% Senior Notes due 2026 | 4.260% Senior Notes due 2021
3.700% Senior Notes due 2027 | 3.160% Senior Notes due 2021
4.500% Senior Notes due 2044 | 4.850% Senior Notes due 2022
5.500% Senior Notes due 2046 | 3.190% Senior Notes due 2022
| 3.940% Senior Notes due 2023
| 3.940% Senior Notes due 2023
| 3.950% Senior Notes due 2024
| 3.200% Senior Notes due 2027
| 6.100% Senior Notes due 2028
| 7.220% Senior Notes due 2030
| 7.200% Senior Notes due 2032
| 5.570% Senior Notes due 2035
| 5.750% Senior Notes due 2039
| 5.120% Senior Notes due 2040
| 4.240% Senior Notes due 2042
| 4.570% Senior Notes due 2044
| 4.870% Senior Notes due 2044
| 4.560% Senior Notes due 2064
1 As at the effective date of the guarantees, the aggregate outstanding principal amount of the Enbridge United States dollar denominated notes was approximately US$5.9 billion. 2 As at the effective date of the guarantees, the aggregate outstanding principal amount of the Enbridge Canadian dollar denominated notes was approximately $8.1 billion.
Condensed Income Statement | Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2018
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Commodity sales | — |  | — |  | — |  | 27,660 |  | — |  | 27,660 |
Gas distribution sales | — |  | — |  | — |  | 4,360 |  | — |  | 4,360 |
Transportation and other services | — |  | — |  | — |  | 14,358 |  | — |  | 14,358 |
Total operating revenues | — |  | — |  | — |  | 46,378 |  | — |  | 46,378 |
Operating Expenses |  |  |  |  |  |
Commodity costs | — |  | — |  | — |  | 26,818 |  | — |  | 26,818 |
Gas distribution costs | — |  | — |  | — |  | 2,583 |  | — |  | 2,583 |
Operating and administrative | 180 |  | 14 |  | 54 |  | 6,622 |  | (78 | ) | 6,792 |
Depreciation and amortization | 59 |  | — |  | — |  | 3,187 |  | — |  | 3,246 |
Impairment of long-lived assets | — |  | — |  | — |  | 1,104 |  | — |  | 1,104 |
Impairment of goodwill | — |  | — |  | — |  | 1,019 |  | — |  | 1,019 |
Total operating expenses | 239 |  | 14 |  | 54 |  | 41,333 |  | (78 | ) | 41,562 |
Operating income/(loss) | (239 | ) | (14 | ) | (54 | ) | 5,045 |  | 78 |  | 4,816 |
Income from equity investments | 302 |  | 142 |  | — |  | 1,360 |  | (295 | ) | 1,509 |
Equity earnings/(loss) from consolidated subsidiaries | 3,119 |  | (1,634 | ) | 921 |  | (1,581 | ) | (825 | ) | — |
Other |  |  |  |  |  |  |
Net foreign currency gain/(loss) | (829 | ) | 8 |  | — |  | 80 |  | 219 |  | (522 | )
Gain/(loss) on dispositions | 360 |  | — |  | — |  | (406 | ) | — |  | (46 | )
Other, including other income/(expense) from affiliates | 945 |  | 72 |  | 153 |  | 254 |  | (908 | ) | 516 |
Interest expense | (1,080 | ) | (302 | ) | (557 | ) | (1,689 | ) | 925 |  | (2,703 | )
Earnings/(loss) before income taxes | 2,578 |  | (1,728 | ) | 463 |  | 3,063 |  | (806 | ) | 3,570 |
Income tax recovery/(expense) | 304 |  | (319 | ) | 3 |  | (4,373 | ) | 4,148 |  | (237 | )
Earnings/(loss) | 2,882 |  | (2,047 | ) | 466 |  | (1,310 | ) | 3,342 |  | 3,333 |
Earnings attributable to noncontrolling interests and redeemable noncontrolling interests | — |  | — |  | — |  | — |  | (451 | ) | (451 | )
Earnings/(loss) attributable to controlling interests | 2,882 |  | (2,047 | ) | 466 |  | (1,310 | ) | 2,891 |  | 2,882 |
Preference share dividends | (367 | ) | — |  | — |  | — |  | — |  | (367 | )
Earnings/(loss) attributable to common shareholders | 2,515 |  | (2,047 | ) | 466 |  | (1,310 | ) | 2,891 |  | 2,515 |
Earnings/(loss) | 2,882 |  | (2,047 | ) | 466 |  | (1,310 | ) | 3,342 |  | 3,333 |
Total other comprehensive income/(loss) | 3,788 |  | (9 | ) | 28 |  | 556 |  | (225 | ) | 4,138 |
Comprehensive income/(loss) | 6,670 |  | (2,056 | ) | 494 |  | (754 | ) | 3,117 |  | 7,471 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | — |  | — |  | (801 | ) | (801 | )
Comprehensive income/(loss) attributable to controlling interests | 6,670 |  | (2,056 | ) | 494 |  | (754 | ) | 2,316 |  | 6,670 |
Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2017
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Commodity sales | — |  | — |  | — |  | 26,286 |  | — |  | 26,286 |
Gas distribution sales | — |  | — |  | — |  | 4,215 |  | — |  | 4,215 |
Transportation and other services | — |  | — |  | — |  | 13,877 |  | — |  | 13,877 |
Total operating revenues | — |  | — |  | — |  | 44,378 |  | — |  | 44,378 |
Operating expenses |  |  |  |  |  |
Commodity costs | — |  | — |  | — |  | 26,065 |  | — |  | 26,065 |
Gas distribution costs | — |  | — |  | — |  | 2,572 |  | — |  | 2,572 |
Operating and administrative | 169 |  | 146 |  | 16 |  | 6,111 |  | — |  | 6,442 |
Depreciation and amortization | 56 |  | — |  | — |  | 3,107 |  | — |  | 3,163 |
Impairment of long lived assets | — |  | — |  | — |  | 4,463 |  | — |  | 4,463 |
Impairment of goodwill | — |  | — |  | — |  | 102 |  | — |  | 102 |
Total operating expenses | 225 |  | 146 |  | 16 |  | 42,420 |  | — |  | 42,807 |
Operating income/(loss) | (225 | ) | (146 | ) | (16 | ) | 1,958 |  | — |  | 1,571 |
Income from equity investments | 471 |  | 118 |  | — |  | 981 |  | (468 | ) | 1,102 |
Equity earnings from consolidated subsidiaries | 2,130 |  | 752 |  | 926 |  | 881 |  | (4,689 | ) | — |
Other |  |  |  |  |  |  |
Net foreign currency gain/(loss) | 500 |  | — |  | — |  | (22 | ) | (241 | ) | 237 |
Gain/(loss) on dispositions | (11 | ) | — |  | — |  | 27 |  | — |  | 16 |
Other, including other income/(expense) from affiliates | 871 |  | 11 |  | 139 |  | 74 |  | (896 | ) | 199 |
Interest expense | (816 | ) | (221 | ) | (691 | ) | (1,753 | ) | 925 |  | (2,556 | )
Earnings before income taxes | 2,920 |  | 514 |  | 358 |  | 2,146 |  | (5,369 | ) | 569 |
Income tax (expense)/recovery | (61 | ) | — |  | 9 |  | 2,706 |  | 43 |  | 2,697 |
Earnings | 2,859 |  | 514 |  | 367 |  | 4,852 |  | (5,326 | ) | 3,266 |
Earnings attributable to noncontrolling interests and redeemable noncontrolling interests | — |  | — |  | — |  | — |  | (407 | ) | (407 | )
Earnings attributable to controlling interests | 2,859 |  | 514 |  | 367 |  | 4,852 |  | (5,733 | ) | 2,859 |
Preference share dividends | (330 | ) | — |  | — |  | — |  | — |  | (330 | )
Earnings attributable to common shareholders | 2,529 |  | 514 |  | 367 |  | 4,852 |  | (5,733 | ) | 2,529 |
Earnings | 2,859 |  | 514 |  | 367 |  | 4,852 |  | (5,326 | ) | 3,266 |
Total other comprehensive income/(loss) | (2,031 | ) | 12 |  | 204 |  | (412 | ) | (51 | ) | (2,278 | )
Comprehensive income | 828 |  | 526 |  | 571 |  | 4,440 |  | (5,377 | ) | 988 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | — |  | — |  | (160 | ) | (160 | )
Comprehensive income attributable to controlling interests | 828 |  | 526 |  | 571 |  | 4,440 |  | (5,537 | ) | 828 |
Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2016
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |
Operating revenues |  |  |  |  |
Commodity sales | — |  | — |  | 22,816 |  | — |  | 22,816 |
Gas distribution sales | — |  | — |  | 2,486 |  | — |  | 2,486 |
Transportation and other services | — |  | — |  | 9,258 |  | — |  | 9,258 |
Total operating revenues | — |  | — |  | 34,560 |  | — |  | 34,560 |
Operating expenses |  |  |  |  |
Commodity costs | — |  | — |  | 22,409 |  | — |  | 22,409 |
Gas distribution costs | — |  | — |  | 1,596 |  | — |  | 1,596 |
Operating and administrative | 126 |  | 70 |  | 4,162 |  | — |  | 4,358 |
Depreciation and amortization | 50 |  | — |  | 2,190 |  | — |  | 2,240 |
Impairment of long lived assets | — |  | — |  | 1,376 |  | — |  | 1,376 |
Total operating expenses | 176 |  | 70 |  | 31,733 |  | — |  | 31,979 |
Operating income/(loss) | (176 | ) | (70 | ) | 2,827 |  | — |  | 2,581 |
Income from equity investments | 723 |  | — |  | 423 |  | (718 | ) | 428 |
Equity earnings/(loss) from consolidated subsidiaries | 1,055 |  | 442 |  | (81 | ) | (1,416 | ) | — |
Other |  |  |  |  |  |
Net foreign currency gain/(loss) | 187 |  | — |  | (3 | ) | (93 | ) | 91 |
Gain on dispositions | — |  | — |  | 848 |  | — |  | 848 |
Other, including other income/(expense) from affiliates | 791 |  | 107 |  | 90 |  | (895 | ) | 93 |
Interest expense | (606 | ) | (560 | ) | (1,344 | ) | 920 |  | (1,590 | )
Earnings/(loss) before income taxes | 1,974 |  | (81 | ) | 2,760 |  | (2,202 | ) | 2,451 |
Income tax recovery/(expense) | 95 |  | — |  | (237 | ) | — |  | (142 | )
Earnings/(loss) | 2,069 |  | (81 | ) | 2,523 |  | (2,202 | ) | 2,309 |
Earnings attributable to noncontrolling interests and redeemable noncontrolling interests | — |  | — |  | — |  | (240 | ) | (240 | )
Earnings/(loss) attributable to controlling interests | 2,069 |  | (81 | ) | 2,523 |  | (2,442 | ) | 2,069 |
Preference share dividends | (293 | ) | — |  | — |  | — |  | (293 | )
Earnings/(loss) attributable to common shareholders | 1,776 |  | (81 | ) | 2,523 |  | (2,442 | ) | 1,776 |
Earnings/(loss) | 2,069 |  | (81 | ) | 2,523 |  | (2,202 | ) | 2,309 |
Total other comprehensive income/(loss) | (574 | ) | 54 |  | 186 |  | (251 | ) | (585 | )
Comprehensive income/(loss) | 1,495 |  | (27 | ) | 2,709 |  | (2,453 | ) | 1,724 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | — |  | (229 | ) | (229 | )
Comprehensive income/(loss) attributable to controlling interests | 1,495 |  | (27 | ) | 2,709 |  | (2,682 | ) | 1,495 |
Condensed Statement of Comprehensive Income | Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2018
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Commodity sales | — |  | — |  | — |  | 27,660 |  | — |  | 27,660 |
Gas distribution sales | — |  | — |  | — |  | 4,360 |  | — |  | 4,360 |
Transportation and other services | — |  | — |  | — |  | 14,358 |  | — |  | 14,358 |
Total operating revenues | — |  | — |  | — |  | 46,378 |  | — |  | 46,378 |
Operating Expenses |  |  |  |  |  |
Commodity costs | — |  | — |  | — |  | 26,818 |  | — |  | 26,818 |
Gas distribution costs | — |  | — |  | — |  | 2,583 |  | — |  | 2,583 |
Operating and administrative | 180 |  | 14 |  | 54 |  | 6,622 |  | (78 | ) | 6,792 |
Depreciation and amortization | 59 |  | — |  | — |  | 3,187 |  | — |  | 3,246 |
Impairment of long-lived assets | — |  | — |  | — |  | 1,104 |  | — |  | 1,104 |
Impairment of goodwill | — |  | — |  | — |  | 1,019 |  | — |  | 1,019 |
Total operating expenses | 239 |  | 14 |  | 54 |  | 41,333 |  | (78 | ) | 41,562 |
Operating income/(loss) | (239 | ) | (14 | ) | (54 | ) | 5,045 |  | 78 |  | 4,816 |
Income from equity investments | 302 |  | 142 |  | — |  | 1,360 |  | (295 | ) | 1,509 |
Equity earnings/(loss) from consolidated subsidiaries | 3,119 |  | (1,634 | ) | 921 |  | (1,581 | ) | (825 | ) | — |
Other |  |  |  |  |  |  |
Net foreign currency gain/(loss) | (829 | ) | 8 |  | — |  | 80 |  | 219 |  | (522 | )
Gain/(loss) on dispositions | 360 |  | — |  | — |  | (406 | ) | — |  | (46 | )
Other, including other income/(expense) from affiliates | 945 |  | 72 |  | 153 |  | 254 |  | (908 | ) | 516 |
Interest expense | (1,080 | ) | (302 | ) | (557 | ) | (1,689 | ) | 925 |  | (2,703 | )
Earnings/(loss) before income taxes | 2,578 |  | (1,728 | ) | 463 |  | 3,063 |  | (806 | ) | 3,570 |
Income tax recovery/(expense) | 304 |  | (319 | ) | 3 |  | (4,373 | ) | 4,148 |  | (237 | )
Earnings/(loss) | 2,882 |  | (2,047 | ) | 466 |  | (1,310 | ) | 3,342 |  | 3,333 |
Earnings attributable to noncontrolling interests and redeemable noncontrolling interests | — |  | — |  | — |  | — |  | (451 | ) | (451 | )
Earnings/(loss) attributable to controlling interests | 2,882 |  | (2,047 | ) | 466 |  | (1,310 | ) | 2,891 |  | 2,882 |
Preference share dividends | (367 | ) | — |  | — |  | — |  | — |  | (367 | )
Earnings/(loss) attributable to common shareholders | 2,515 |  | (2,047 | ) | 466 |  | (1,310 | ) | 2,891 |  | 2,515 |
Earnings/(loss) | 2,882 |  | (2,047 | ) | 466 |  | (1,310 | ) | 3,342 |  | 3,333 |
Total other comprehensive income/(loss) | 3,788 |  | (9 | ) | 28 |  | 556 |  | (225 | ) | 4,138 |
Comprehensive income/(loss) | 6,670 |  | (2,056 | ) | 494 |  | (754 | ) | 3,117 |  | 7,471 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | — |  | — |  | (801 | ) | (801 | )
Comprehensive income/(loss) attributable to controlling interests | 6,670 |  | (2,056 | ) | 494 |  | (754 | ) | 2,316 |  | 6,670 |
Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2017
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues |  |  |  |  |  |
Commodity sales | — |  | — |  | — |  | 26,286 |  | — |  | 26,286 |
Gas distribution sales | — |  | — |  | — |  | 4,215 |  | — |  | 4,215 |
Transportation and other services | — |  | — |  | — |  | 13,877 |  | — |  | 13,877 |
Total operating revenues | — |  | — |  | — |  | 44,378 |  | — |  | 44,378 |
Operating expenses |  |  |  |  |  |
Commodity costs | — |  | — |  | — |  | 26,065 |  | — |  | 26,065 |
Gas distribution costs | — |  | — |  | — |  | 2,572 |  | — |  | 2,572 |
Operating and administrative | 169 |  | 146 |  | 16 |  | 6,111 |  | — |  | 6,442 |
Depreciation and amortization | 56 |  | — |  | — |  | 3,107 |  | — |  | 3,163 |
Impairment of long lived assets | — |  | — |  | — |  | 4,463 |  | — |  | 4,463 |
Impairment of goodwill | — |  | — |  | — |  | 102 |  | — |  | 102 |
Total operating expenses | 225 |  | 146 |  | 16 |  | 42,420 |  | — |  | 42,807 |
Operating income/(loss) | (225 | ) | (146 | ) | (16 | ) | 1,958 |  | — |  | 1,571 |
Income from equity investments | 471 |  | 118 |  | — |  | 981 |  | (468 | ) | 1,102 |
Equity earnings from consolidated subsidiaries | 2,130 |  | 752 |  | 926 |  | 881 |  | (4,689 | ) | — |
Other |  |  |  |  |  |  |
Net foreign currency gain/(loss) | 500 |  | — |  | — |  | (22 | ) | (241 | ) | 237 |
Gain/(loss) on dispositions | (11 | ) | — |  | — |  | 27 |  | — |  | 16 |
Other, including other income/(expense) from affiliates | 871 |  | 11 |  | 139 |  | 74 |  | (896 | ) | 199 |
Interest expense | (816 | ) | (221 | ) | (691 | ) | (1,753 | ) | 925 |  | (2,556 | )
Earnings before income taxes | 2,920 |  | 514 |  | 358 |  | 2,146 |  | (5,369 | ) | 569 |
Income tax (expense)/recovery | (61 | ) | — |  | 9 |  | 2,706 |  | 43 |  | 2,697 |
Earnings | 2,859 |  | 514 |  | 367 |  | 4,852 |  | (5,326 | ) | 3,266 |
Earnings attributable to noncontrolling interests and redeemable noncontrolling interests | — |  | — |  | — |  | — |  | (407 | ) | (407 | )
Earnings attributable to controlling interests | 2,859 |  | 514 |  | 367 |  | 4,852 |  | (5,733 | ) | 2,859 |
Preference share dividends | (330 | ) | — |  | — |  | — |  | — |  | (330 | )
Earnings attributable to common shareholders | 2,529 |  | 514 |  | 367 |  | 4,852 |  | (5,733 | ) | 2,529 |
Earnings | 2,859 |  | 514 |  | 367 |  | 4,852 |  | (5,326 | ) | 3,266 |
Total other comprehensive income/(loss) | (2,031 | ) | 12 |  | 204 |  | (412 | ) | (51 | ) | (2,278 | )
Comprehensive income | 828 |  | 526 |  | 571 |  | 4,440 |  | (5,377 | ) | 988 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | — |  | — |  | (160 | ) | (160 | )
Comprehensive income attributable to controlling interests | 828 |  | 526 |  | 571 |  | 4,440 |  | (5,537 | ) | 828 |
Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2016
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |
Operating revenues |  |  |  |  |
Commodity sales | — |  | — |  | 22,816 |  | — |  | 22,816 |
Gas distribution sales | — |  | — |  | 2,486 |  | — |  | 2,486 |
Transportation and other services | — |  | — |  | 9,258 |  | — |  | 9,258 |
Total operating revenues | — |  | — |  | 34,560 |  | — |  | 34,560 |
Operating expenses |  |  |  |  |
Commodity costs | — |  | — |  | 22,409 |  | — |  | 22,409 |
Gas distribution costs | — |  | — |  | 1,596 |  | — |  | 1,596 |
Operating and administrative | 126 |  | 70 |  | 4,162 |  | — |  | 4,358 |
Depreciation and amortization | 50 |  | — |  | 2,190 |  | — |  | 2,240 |
Impairment of long lived assets | — |  | — |  | 1,376 |  | — |  | 1,376 |
Total operating expenses | 176 |  | 70 |  | 31,733 |  | — |  | 31,979 |
Operating income/(loss) | (176 | ) | (70 | ) | 2,827 |  | — |  | 2,581 |
Income from equity investments | 723 |  | — |  | 423 |  | (718 | ) | 428 |
Equity earnings/(loss) from consolidated subsidiaries | 1,055 |  | 442 |  | (81 | ) | (1,416 | ) | — |
Other |  |  |  |  |  |
Net foreign currency gain/(loss) | 187 |  | — |  | (3 | ) | (93 | ) | 91 |
Gain on dispositions | — |  | — |  | 848 |  | — |  | 848 |
Other, including other income/(expense) from affiliates | 791 |  | 107 |  | 90 |  | (895 | ) | 93 |
Interest expense | (606 | ) | (560 | ) | (1,344 | ) | 920 |  | (1,590 | )
Earnings/(loss) before income taxes | 1,974 |  | (81 | ) | 2,760 |  | (2,202 | ) | 2,451 |
Income tax recovery/(expense) | 95 |  | — |  | (237 | ) | — |  | (142 | )
Earnings/(loss) | 2,069 |  | (81 | ) | 2,523 |  | (2,202 | ) | 2,309 |
Earnings attributable to noncontrolling interests and redeemable noncontrolling interests | — |  | — |  | — |  | (240 | ) | (240 | )
Earnings/(loss) attributable to controlling interests | 2,069 |  | (81 | ) | 2,523 |  | (2,442 | ) | 2,069 |
Preference share dividends | (293 | ) | — |  | — |  | — |  | (293 | )
Earnings/(loss) attributable to common shareholders | 1,776 |  | (81 | ) | 2,523 |  | (2,442 | ) | 1,776 |
Earnings/(loss) | 2,069 |  | (81 | ) | 2,523 |  | (2,202 | ) | 2,309 |
Total other comprehensive income/(loss) | (574 | ) | 54 |  | 186 |  | (251 | ) | (585 | )
Comprehensive income/(loss) | 1,495 |  | (27 | ) | 2,709 |  | (2,453 | ) | 1,724 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | — |  | (229 | ) | (229 | )
Comprehensive income/(loss) attributable to controlling interests | 1,495 |  | (27 | ) | 2,709 |  | (2,682 | ) | 1,495 |
Condensed Balance Sheet | Condensed Consolidating Statements of Financial Position as at December 31, 2018
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Assets |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  | 16 |  | — |  | 502 |  | — |  | 518 |
Restricted cash | 9 |  | — |  | — |  | 110 |  | — |  | 119 |
Accounts receivable and other | 283 |  | 15 |  | 8 |  | 6,211 |  | — |  | 6,517 |
Accounts receivable from affiliates | 726 |  | — |  | 13 |  | (142 | ) | (518 | ) | 79 |
Short-term loans receivable from affiliates | 3,943 |  | — |  | 3,689 |  | 653 |  | (8,285 | ) | — |
Inventory | — |  | — |  | — |  | 1,339 |  | — |  | 1,339 |
| 4,961 |  | 31 |  | 3,710 |  | 8,673 |  | (8,803 | ) | 8,572 |
Property, plant and equipment, net | 140 |  | — |  | — |  | 94,400 |  | — |  | 94,540 |
Long-term loans receivable from affiliates | 10,318 |  | 73 |  | 2,539 |  | 1,344 |  | (14,274 | ) | — |
Investments in subsidiaries | 78,474 |  | 19,777 |  | 6,363 |  | 15,567 |  | (120,181 | ) | — |
Long-term investments | 4,561 |  | 987 |  | — |  | 14,841 |  | (3,682 | ) | 16,707 |
Restricted long-term investments | — |  | — |  | — |  | 323 |  | — |  | 323 |
Deferred amounts and other assets | 1,700 |  | 9 |  | 17 |  | 8,558 |  | (1,726 | ) | 8,558 |
Intangible assets, net | 234 |  | — |  | — |  | 2,138 |  | — |  | 2,372 |
Goodwill | — |  | — |  | — |  | 34,459 |  | — |  | 34,459 |
Deferred income taxes | 817 |  | — |  | — |  | 229 |  | 328 |  | 1,374 |
Total assets | 101,205 |  | 20,877 |  | 12,629 |  | 180,532 |  | (148,338 | ) | 166,905 |
Liabilities and equity |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Short-term borrowings | — |  | — |  | — |  | 1,024 |  | — |  | 1,024 |
Accounts payable and other | 2,742 |  | 7 |  | 34 |  | 7,059 |  | (6 | ) | 9,836 |
Accounts payable to affiliates | 946 |  | 233 |  | 56 |  | (677 | ) | (518 | ) | 40 |
Interest payable | 283 |  | 56 |  | 105 |  | 225 |  | — |  | 669 |
Short-term loans payable to affiliates | 426 |  | 682 |  | — |  | 7,177 |  | (8,285 | ) | — |
Environmental liabilities, current | — |  | — |  | — |  | 27 |  | — |  | 27 |
Current portion of long-term debt | 1,853 |  | — |  | 683 |  | 723 |  | — |  | 3,259 |
| 6,250 |  | 978 |  | 878 |  | 15,558 |  | (8,809 | ) | 14,855 |
Long-term debt | 22,893 |  | 7,276 |  | 6,943 |  | 23,215 |  | — |  | 60,327 |
Other long-term liabilities | 2,428 |  | 2 |  | 30 |  | 8,100 |  | (1,726 | ) | 8,834 |
Long-term loans payable to affiliates | 76 |  | — |  | 1,502 |  | 12,696 |  | (14,274 | ) | — |
Deferred income taxes | — |  | 331 |  | — |  | 13,523 |  | (4,400 | ) | 9,454 |
| 31,647 |  | 8,587 |  | 9,353 |  | 73,092 |  | (29,209 | ) | 93,470 |
Equity |  |  |  |  |  |  |
Controlling interests 1 | 69,558 |  | 12,290 |  | 3,276 |  | 107,440 |  | (123,094 | ) | 69,470 |
Noncontrolling interests | — |  | — |  | — |  | — |  | 3,965 |  | 3,965 |
| 69,558 |  | 12,290 |  | 3,276 |  | 107,440 |  | (119,129 | ) | 73,435 |
Total liabilities and equity | 101,205 |  | 20,877 |  | 12,629 |  | 180,532 |  | (148,338 | ) | 166,905 |
1 Equity attributable to controlling interests for parent issuer and guarantor excludes reciprocal shareholding balance included within consolidating and elimination adjustments. Condensed Consolidating Statements of Financial Position as at December 31, 2017
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Assets |  |  |  |  |  |
Current assets |  |  |  |  |  |
Cash and cash equivalents | — |  | 14 |  | — |  | 466 |  | — |  | 480 |
Restricted cash | 2 |  | — |  | — |  | 105 |  | — |  | 107 |
Accounts receivable and other | 292 |  | 8 |  | — |  | 6,753 |  | — |  | 7,053 |
Accounts receivable from affiliates | 593 |  | — |  | 41 |  | (73 | ) | (514 | ) | 47 |
Short-term loans receivable from affiliates | 1,861 |  | — |  | 3,085 |  | 2,977 |  | (7,923 | ) | — |
Inventory | — |  | — |  | — |  | 1,528 |  | — |  | 1,528 |
| 2,748 |  | 22 |  | 3,126 |  | 11,756 |  | (8,437 | ) | 9,215 |
Property, plant and equipment, net | 136 |  | — |  | — |  | 90,575 |  | — |  | 90,711 |
Long-term loans receivable from affiliates | 14,205 |  | 574 |  | 2,352 |  | (3,177 | ) | (13,954 | ) | — |
Investments in subsidiaries | 55,466 |  | 21,528 |  | 5,993 |  | 16,672 |  | (99,659 | ) | — |
Long-term investments | 8,408 |  | 918 |  | — |  | 14,972 |  | (7,654 | ) | 16,644 |
Restricted long-term investments | — |  | — |  | — |  | 267 |  | — |  | 267 |
Deferred amounts and other assets | 904 |  | 8 |  | 5 |  | 7,250 |  | (1,725 | ) | 6,442 |
Intangible assets, net | 219 |  | — |  | — |  | 3,048 |  | — |  | 3,267 |
Goodwill | — |  | — |  | — |  | 34,457 |  | — |  | 34,457 |
Deferred income taxes | 809 |  | — |  | — |  | 254 |  | 27 |  | 1,090 |
Total assets | 82,895 |  | 23,050 |  | 11,476 |  | 176,074 |  | (131,402 | ) | 162,093 |
Liabilities and equity |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Short-term borrowings | — |  | — |  | — |  | 1,444 |  | — |  | 1,444 |
Accounts payable and other | 1,927 |  | 100 |  | 19 |  | 7,432 |  | — |  | 9,478 |
Accounts payable to affiliates | 56 |  | 171 |  | — |  | 444 |  | (514 | ) | 157 |
Interest payable | 216 |  | 51 |  | 102 |  | 265 |  | — |  | 634 |
Short-term loans payable to affiliates | 868 |  | — |  | — |  | 7,055 |  | (7,923 | ) | — |
Environmental liabilities, current | — |  | — |  | — |  | 40 |  | — |  | 40 |
Current portion of long-term debt | — |  | 626 |  | 501 |  | 1,744 |  | — |  | 2,871 |
| 3,067 |  | 948 |  | 622 |  | 18,424 |  | (8,437 | ) | 14,624 |
Long-term debt | 20,173 |  | 7,605 |  | 7,852 |  | 25,235 |  | — |  | 60,865 |
Other long-term liabilities | 1,342 |  | 38 |  | 21 |  | 7,834 |  | (1,725 | ) | 7,510 |
Long-term loans payable to affiliates | 76 |  | 4 |  | 764 |  | 13,110 |  | (13,954 | ) | — |
Deferred income taxes | — |  | — |  | — |  | 9,295 |  | — |  | 9,295 |
| 24,658 |  | 8,595 |  | 9,259 |  | 73,898 |  | (24,116 | ) | 92,294 |
Redeemable noncontrolling interests | — |  | — |  | — |  | — |  | 4,067 |  | 4,067 |
Equity |  |  |  |  |  |  |
Controlling interests 1 | 58,237 |  | 14,455 |  | 2,217 |  | 102,176 |  | (118,950 | ) | 58,135 |
Noncontrolling Interests | — |  | — |  | — |  | — |  | 7,597 |  | 7,597 |
| 58,237 |  | 14,455 |  | 2,217 |  | 102,176 |  | (111,353 | ) | 65,732 |
Total liabilities and equity | 82,895 |  | 23,050 |  | 11,476 |  | 176,074 |  | (131,402 | ) | 162,093 |
1 Equity attributable to controlling interests for parent issuer and guarantor excludes reciprocal shareholding balance included within consolidating and elimination adjustments.
Condensed Cash Flow Statement | Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2018
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Net cash provided by/(used in) operating activities | 154 |  | 1,751 |  | (1,328 | ) | 12,772 |  | (2,847 | ) | 10,502 |
Investing activities |  |  |  |  |  |
Capital expenditures | (28 | ) | — |  | — |  | (6,778 | ) | — |  | (6,806 | )
Long-term investments | (81 | ) | (12 | ) | — |  | (1,297 | ) | 78 |  | (1,312 | )
Distributions from equity investments in excess of cumulative earnings | 1,829 |  | 45 |  | 2,071 |  | 1,232 |  | (3,900 | ) | 1,277 |
Additions to intangible assets | (43 | ) | — |  | — |  | (497 | ) | — |  | (540 | )
Proceeds from dispositions | 1,790 |  | — |  | — |  | 2,662 |  | — |  | 4,452 |
Contributions to subsidiaries | (8,131 | ) | (79 | ) | (13 | ) | (1,655 | ) | 9,878 |  | — |
Return of share capital from subsidiaries | 3,753 |  | — |  | — |  | — |  | (3,753 | ) | — |
Advances to affiliates | (6,863 | ) | — |  | (1,703 | ) | (4,859 | ) | 13,425 |  | — |
Repayment of advances to affiliates | 9,427 |  | 518 |  | 1,504 |  | 3,298 |  | (14,747 | ) | — |
Other | — |  | — |  | — |  | (88 | ) | — |  | (88 | )
Net cash provided by/(used in) investing activities | 1,653 |  | 472 |  | 1,859 |  | (7,982 | ) | 981 |  | (3,017 | )
Financing activities |  |  |  |  |  |
Net change in short-term borrowings | — |  | — |  | — |  | (420 | ) | — |  | (420 | )
Net change in commercial paper and credit facility draws | (734 | ) | (962 | ) | (1,009 | ) | 449 |  | — |  | (2,256 | )
Debenture and term note issues, net of issue costs | 2,554 |  | — |  | — |  | 983 |  | — |  | 3,537 |
Debenture and term note repayments | — |  | (648 | ) | (509 | ) | (3,288 | ) | — |  | (4,445 | )
Sale of noncontrolling interests in subsidiaries | — |  | — |  | — |  | — |  | 1,289 |  | 1,289 |
Contributions from noncontrolling interests | — |  | — |  | — |  | — |  | 24 |  | 24 |
Distributions to noncontrolling interests | — |  | — |  | — |  | — |  | (857 | ) | (857 | )
Contributions from redeemable noncontrolling interests | — |  | — |  | — |  | — |  | 70 |  | 70 |
Distributions to redeemable noncontrolling interests | — |  | — |  | — |  | — |  | (325 | ) | (325 | )
Contributions from parents | — |  | — |  | 1,007 |  | 8,223 |  | (9,230 | ) | — |
Distributions to parents | — |  | (1,902 | ) | (666 | ) | (7,653 | ) | 10,221 |  | — |
Sponsored Vehicle buy-in cash payment | (64 | ) | — |  | — |  | — |  | — |  | (64 | )
Redemption of preferred shares | — |  | — |  | — |  | (210 | ) | — |  | (210 | )
Common shares issued | 21 |  | 648 |  | — |  | — |  | (648 | ) | 21 |
Preference share dividends | (364 | ) | — |  | — |  | — |  | — |  | (364 | )
Common share dividends | (3,480 | ) | — |  | — |  | — |  | — |  | (3,480 | )
Advances from affiliates | 710 |  | 648 |  | 3,501 |  | 8,566 |  | (13,425 | ) | — |
Repayment of advances from affiliates | (443 | ) | — |  | (2,855 | ) | (11,449 | ) | 14,747 |  | — |
Other | — |  | (5 | ) | — |  | (18 | ) | — |  | (23 | )
Net cash (used in)/provided by financing activities | (1,800 | ) | (2,221 | ) | (531 | ) | (4,817 | ) | 1,866 |  | (7,503 | )
Effect of translation of foreign denominated cash and cash equivalents and restricted cash | — |  | — |  | — |  | 68 |  | — |  | 68 |
Net increase in cash and cash equivalents and restricted cash | 7 |  | 2 |  | — |  | 41 |  | — |  | 50 |
Cash and cash equivalents and restricted cash at beginning of year | 2 |  | 14 |  | — |  | 571 |  | — |  | 587 |
Cash and cash equivalents and restricted cash at end of year | 9 |  | 16 |  | — |  | 612 |  | — |  | 637 |
Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2017
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - SEP | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |  |
Net cash (used in)/provided by operating activities | (1,023 | ) | (255 | ) | (1,681 | ) | 11,411 |  | (1,794 | ) | 6,658 |
Investing activities |  |  |  |  |  |
Capital expenditures | (21 | ) | — |  | — |  | (8,266 | ) | — |  | (8,287 | )
Long-term investments | (202 | ) | (51 | ) | — |  | (3,535 | ) | 202 |  | (3,586 | )
Distributions from equity investments in excess of cumulative earnings | 1,448 |  | 22 |  | 1,907 |  | 103 |  | (3,355 | ) | 125 |
Additions to intangible assets | (47 | ) | — |  | — |  | (742 | ) | — |  | (789 | )
Cash acquired in Merger Transaction | — |  | — |  | — |  | 682 |  | — |  | 682 |
Proceeds from dispositions | — |  | — |  | 1,742 |  | 1,103 |  | (2,217 | ) | 628 |
Reimbursement of capital expenditures | — |  | — |  | — |  | 212 |  | — |  | 212 |
Contributions to subsidiaries | (4,866 | ) | — |  | (2,056 | ) | — |  | 6,922 |  | — |
Return of share capital from subsidiaries | 2,423 |  | — |  | 1,532 |  | — |  | (3,955 | ) | — |
Advances to affiliates | (7,145 | ) | (519 | ) | (1,410 | ) | (3,020 | ) | 12,094 |  | — |
Repayment of advances to affiliates | 4,506 |  | — |  | 2,129 |  | 2,887 |  | (9,522 | ) | — |
Other | — |  | — |  | — |  | (22 | ) | — |  | (22 | )
Net cash (used in)/provided by investing activities | (3,904 | ) | (548 | ) | 3,844 |  | (10,598 | ) | 169 |  | (11,037 | )
Financing activities |  |  |  |  |  |
Net change in short-term borrowings | — |  | — |  | — |  | 721 |  | — |  | 721 |
Net change in commercial paper and credit facility draws | (1,845 | ) | 2,226 |  | (316 | ) | (1,314 | ) | — |  | (1,249 | )
Debenture and term note issues, net of issue costs | 8,177 |  | 868 |  | — |  | 438 |  | — |  | 9,483 |
Debenture and term note repayments | (1,711 | ) | (533 | ) | — |  | (2,810 | ) | — |  | (5,054 | )
Purchase of interest in consolidated subsidiary | — |  | — |  | (475 | ) | (1,969 | ) | 2,217 |  | (227 | )
Contributions from noncontrolling interests | — |  | — |  | — |  | — |  | 832 |  | 832 |
Distributions to noncontrolling interests | — |  | — |  | — |  | — |  | (919 | ) | (919 | )
Contributions from redeemable noncontrolling interests | 563 |  | — |  | — |  | — |  | 615 |  | 1,178 |
Distributions to redeemable noncontrolling interests | — |  | — |  | — |  | — |  | (247 | ) | (247 | )
Contributions from parents | — |  | — |  | — |  | 6,922 |  | (6,922 | ) | — |
Distributions to parents | — |  | (1,987 | ) | (789 | ) | (7,310 | ) | 10,086 |  | — |
Preference shares issued | 489 |  | — |  | — |  | — |  | — |  | 489 |
Redemption of preferred shares | — |  | — |  | (1,613 | ) | 1,613 |  | — |  | — |
Common shares issued | 1,549 |  | 227 |  | 1,646 |  | — |  | (1,873 | ) | 1,549 |
Preference share dividends | (330 | ) | — |  | (478 | ) | — |  | 478 |  | (330 | )
Common share dividends 1 | (2,336 | ) | — |  | — |  | (414 | ) | — |  | (2,750 | )
Advances from affiliates | 407 |  | — |  | 2,613 |  | 9,074 |  | (12,094 | ) | — |
Repayment of advances from affiliates | (40 | ) | — |  | (2,847 | ) | (6,635 | ) | 9,522 |  | — |
Net cash provided by/(used in) financing activities | 4,923 |  | 801 |  | (2,259 | ) | (1,684 | ) | 1,695 |  | 3,476 |
Effect of translation of foreign denominated cash and cash equivalents and restricted cash | — |  | — |  | (2 | ) | — |  | (70 | ) | (72 | )
Net decrease in cash and cash equivalents and restricted cash | (4 | ) | (2 | ) | (98 | ) | (871 | ) | — |  | (975 | )
Cash and cash equivalents and restricted cash at beginning of year | 6 |  | 16 |  | 98 |  | 1,442 |  | — |  | 1,562 |
Cash and cash equivalents and restricted cash at end of year | 2 |  | 14 |  | — |  | 571 |  | — |  | 587 |
1 Common share dividends for the year ended December 31, 2017 includes amounts distributed by Spectra Energy Corp. related to dividends accrued prior to the Merger Transaction. Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2016
| Parent Issuer and Guarantor | Subsidiary Issuer and Guarantor - EEP | Subsidiary Non-Guarantors | Consolidating and elimination adjustments | Consolidated - Enbridge
(millions of Canadian dollars) |  |  |  |  |
Net cash provided by/(used in) operating activities | (65 | ) | (1,818 | ) | 8,579 |  | (1,491 | ) | 5,205 |
Investing activities |  |  |  |  |
Capital expenditures | (21 | ) | — |  | (5,107 | ) | — |  | (5,128 | )
Long-term investments | (194 | ) | — |  | (514 | ) | 194 |  | (514 | )
Distributions from equity investments in excess of cumulative earnings | 1,233 |  | 2,717 |  | — |  | (3,950 | ) | — |
Additions to intangible assets | (37 | ) | — |  | (90 | ) | — |  | (127 | )
Acquisitions | — |  | — |  | (644 | ) | — |  | (644 | )
Proceeds from dispositions | — |  | — |  | 1,379 |  | — |  | 1,379 |
Contributions to subsidiaries | (970 | ) | (463 | ) | — |  | 1,433 |  | — |
Return of share capital from subsidiaries | 350 |  | — |  | — |  | (350 | ) | — |
Advances to affiliates | (4,307 | ) | (1,623 | ) | (1,518 | ) | 7,448 |  | — |
Repayment of advances to affiliates | 1,577 |  | 1,382 |  | 400 |  | (3,359 | ) | — |
Other | — |  | 17 |  | (135 | ) | — |  | (118 | )
Net cash (used in)/provided by investing activities | (2,369 | ) | 2,030 |  | (6,229 | ) | 1,416 |  | (5,152 | )
Financing activities |  |  |  |  |
Net change in short-term borrowings | — |  | — |  | (248 | ) | — |  | (248 | )
Net change in commercial paper and credit facility draws | (1,083 | ) | 289 |  | (1,503 | ) | — |  | (2,297 | )
Debenture and term note issues, net of issue costs | 3,009 |  | — |  | 1,071 |  | — |  | 4,080 |
Debenture and term note repayments | (1,160 | ) | (400 | ) | (386 | ) | — |  | (1,946 | )
Contributions from noncontrolling interests | — |  | — |  | — |  | 28 |  | 28 |
Distributions to noncontrolling interests | — |  | — |  | — |  | (720 | ) | (720 | )
Contributions from redeemable noncontrolling interests | — |  | — |  | — |  | 591 |  | 591 |
Distributions to redeemable noncontrolling interests | — |  | — |  | — |  | (202 | ) | (202 | )
Contributions from parents | — |  | — |  | 1,433 |  | (1,433 | ) | — |
Distributions to parents | — |  | (1,060 | ) | (4,840 | ) | 5,900 |  | — |
Preference shares issued | 737 |  | — |  | — |  | — |  | 737 |
Common shares issued | 2,260 |  | — |  | — |  | — |  | 2,260 |
Preference share dividends | (293 | ) | — |  | — |  | — |  | (293 | )
Common share dividends | (1,150 | ) | — |  | — |  | — |  | (1,150 | )
Advances from affiliates | 518 |  | 1,000 |  | 5,930 |  | (7,448 | ) | — |
Repayment of advances from affiliates | (400 | ) | — |  | (2,959 | ) | 3,359 |  | — |
Net cash provided by/(used in) financing activities | 2,438 |  | (171 | ) | (1,502 | ) | 75 |  | 840 |
Effect of translation of foreign denominated cash and cash equivalents and restricted cash | — |  | 1 |  | (20 | ) | — |  | (19 | )
Net increase in cash and cash equivalents and restricted cash | 4 |  | 42 |  | 828 |  | — |  | 874 |
Cash and cash equivalents and restricted cash at beginning of year | 2 |  | 56 |  | 630 |  | — |  | 688 |
Cash and cash equivalents and restricted cash at end of year | 6 |  | 98 |  | 1,458 |  | — |  | 1,562 |

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