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LONG-TERM INVESTMENTS | 12 Months Ended
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Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract] |
LONG-TERM INVESTMENTS | LONG-TERM INVESTMENTS
| Ownership |  |  |  |  |
December 31, | Interest |  | 2019 |  | 2018 |
(millions of Canadian dollars) |  |  |  |  |  |
EQUITY INVESTMENTS |  |  |  |  |  |
Liquids Pipelines |  |  |  |  |  |
MarEn Bakken Company L.L.C.1 | 75.0 | % | 1,892 |  | 2,039 |
Gray Oak Holdings L.L.C.2 | 35.0 | % | 463 |  | — |
Seaway Crude Pipeline System | 50.0 | % | 2,907 |  | 3,113 |
Illinois Extension Pipeline Company, L.L.C.3 | 65.0 | % | 662 |  | 724 |
Other | 30.0% - 43.8% |  | 73 |  | 97 |
Gas Transmission and Midstream |  |  |
Alliance Pipeline | 50.0 | % | 310 |  | 368 |
Aux Sable | 42.7% - 50.0% |  | 267 |  | 311 |
DCP Midstream, LLC | 50.0 | % | 2,193 |  | 2,368 |
Gulfstream Natural Gas System, L.L.C. | 50.0 | % | 1,213 |  | 1,289 |
NEXUS Gas Transmission, LLC | 50.0 | % | 1,778 |  | 1,757 |
Offshore - various joint ventures | 22.0% - 74.3% |  | 362 |  | 400 |
PennEast Pipeline Company LLC | 20.0 | % | 106 |  | 97 |
Sabal Trail Transmission, LLC | 50.0 | % | 1,533 |  | 1,586 |
Southeast Supply Header L.L.C. | 50.0 | % | 484 |  | 519 |
Steckman Ridge LP | 49.5 | % | 222 |  | 237 |
Vector Pipeline L.P. | 60.0 | % | 195 |  | 198 |
Other | 33.3% - 50.0% |  | 5 |  | 6 |
Gas Distribution and Storage |  |  |
Noverco Common Shares | 38.9 | % | 95 |  | — |
Other | 50.0 | % | 14 |  | 15 |
Renewable Power Generation |  |  |
Eolien Maritime France SAS | 50.0 | % | 67 |  | 68 |
Enbridge Renewable Infrastructure Investments S.a.r.l.4 | 51.0 | % | 141 |  | 127 |
Rampion Offshore Wind Project | 24.9 | % | 600 |  | 638 |
Other | 21.0% - 50.0% |  | 127 |  | 72 |
Eliminations and Other |  |  |
Other | 42.7% - 50% |  | 16 |  | 10 |
OTHER LONG-TERM INVESTMENTS |  |  |
Gas Distribution and Storage |  |  |
Noverco Preferred Shares |  | 580 |  | 478 |
Renewable Power Generation |  |  |
Emerging Technologies and Other |  | 78 |  | 80 |
Eliminations and Other |  |  |
Other |  | 145 |  | 110 |
|  |  | 16,528 |  | 16,707 |
1 | Owns 49% interest in Bakken Pipeline Investments L.L.C., which owns 75% of the Bakken Pipeline System resulting in a 27.6% effective interest in the Bakken Pipeline System.
2 | In December 2018 we acquired an effective 22.8% interest in the Gray Oak crude oil pipeline through acquisition of a 35% membership interest in Gray Oak Holdings, L.L.C. (Note 12).
3 | Owns the Southern Access Extension Project.
4 | In 2018 we sold a 49% interest in the Hohe See Offshore wind facilities to CPPIB, reducing our effective interest in the project to 25.5%.
Equity investments include the unamortized excess of the purchase price over the underlying net book value of the investees’ assets at the purchase date. As at December 31, 2019, this comprised of $2.1 billion in Goodwill and $681 million in amortizable assets. As at December 31, 2018, this comprised of $2.2 billion in Goodwill and $706 million in amortizable assets. For the years ended December 31, 2019, 2018 and 2017, distributions received from equity investments were $2.2 billion, $2.8 billion and $1.4 billion, respectively. Summarized combined financial information of our interest in unconsolidated equity investments (presented at 100%) is as follows:
| Year Ended December 31,
| 2019 | 2018 | 2017
| Seaway |  | Other |  | Total |  | Seaway |  | Other |  | Total |  | Seaway |  | Other |  | Total |
(millions of Canadian dollars) |  |  |  |  |  |  |  |  |
Operating revenues | 1,252 |  | 14,435 |  | 15,687 |  | 966 |  | 18,251 |  | 19,217 |  | 959 |  | 15,254 |  | 16,213 |
Operating expenses | 428 |  | 12,725 |  | 13,153 |  | 212 |  | 15,422 |  | 15,634 |  | 286 |  | 12,911 |  | 13,197 |
Earnings | 818 |  | 2,198 |  | 3,016 |  | 646 |  | 2,308 |  | 2,954 |  | 672 |  | 2,056 |  | 2,728 |
Earnings attributable to Enbridge | 409 |  | 950 |  | 1,359 |  | 323 |  | 1,059 |  | 1,382 |  | 336 |  | 926 |  | 1,262 |
| December 31, 2019 | December 31, 2018
| Seaway |  | Other |  | Total |  | Seaway |  | Other |  | Total |
(millions of Canadian dollars) |  |  |  |  |  |
Current assets | 107 |  | 2,374 |  | 2,481 |  | 113 |  | 3,176 |  | 3,289 |
Non-current assets | 3,404 |  | 45,538 |  | 48,942 |  | 3,585 |  | 45,531 |  | 49,116 |
Current liabilities | 136 |  | 3,911 |  | 4,047 |  | 123 |  | 5,413 |  | 5,536 |
Non-current liabilities | 45 |  | 18,081 |  | 18,126 |  | 16 |  | 15,859 |  | 15,875 |
Noncontrolling interests | — |  | 2,779 |  | 2,779 |  | — |  | 3,479 |  | 3,479 |
Noverco Inc. As at December 31, 2019 and 2018, we owned an equity interest in Noverco through ownership of 38.9% of its common shares and an investment in preferred shares. The preferred shares are entitled to a cumulative preferred dividend based on the average yield of Government of Canada bonds maturing in 10 years plus a margin of 4.38%. As at December 31, 2019 and 2018, Noverco owned an approximate 0.5% and 1.4% reciprocal shareholding in our common shares, respectively. Noverco sold 11.6 million common shares in January 2019 and 4.4 million common shares in December 2018. Shares purchased and sold were treated as treasury stock on the Consolidated Statements of Changes in Equity. As a result of Noverco’s reciprocal shareholding in our common shares, as at December 31, 2019 and 2018, we had an indirect pro-rata interest of 0.2% and 0.5%, respectively, in our own shares. Both the equity investment in Noverco and shareholders’ equity have been reduced by the reciprocal shareholding of $51 million and $88 million as at December 31, 2019 and 2018. Noverco records dividends paid from us as dividend income and we eliminate these dividends from our equity earnings of Noverco. We record our pro-rata share of dividends paid by us to Noverco as a reduction of dividends paid and an increase in our investment in Noverco.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SX 210.3A-04) -URI http://asc.fasb.org/extlink&oid=116822174&loc=d3e355119-122828 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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