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CONDENSED CONSOLIDATING FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
CONDENSED CONSOLIDATED FINANCIAL INFORMATION | CONDENSED CONSOLIDATING FINANCIAL INFORMATION On January 22, 2019, Enbridge entered into supplemental indentures with its wholly-owned subsidiaries, the Partnerships, pursuant to which Enbridge fully and unconditionally guaranteed, on a senior unsecured basis, the payment obligations of the Partnerships with respect to the outstanding series of notes issued under the respective indentures of the Partnerships. Concurrently, the Partnerships entered into a subsidiary guarantee agreement pursuant to which they fully and unconditionally guaranteed, on a senior unsecured basis, the outstanding series of senior notes of Enbridge. As a result of the guarantees, holders of any of the outstanding guaranteed notes of the Partnerships are in the same position with respect to the net assets, income and cash flows of Enbridge as holders of Enbridge's outstanding guaranteed notes, and vice versa. Other than the Partnerships, Enbridge subsidiaries (including the subsidiaries of the Partnerships, collectively, the Subsidiary Non-Guarantors), are not parties to the subsidiary guarantee agreement and have not otherwise guaranteed any of Enbridge's outstanding series of senior notes. Consenting SEP notes and EEP notes under Guarantee
SEP Notes 1 | EEP Notes 2
Floating Rate Senior Notes due 2020 | 4.200% Notes due 2021
4.600% Senior Notes due 2021 | 5.875% Notes due 2025
4.750% Senior Notes due 2024 | 5.950% Notes due 2033
3.500% Senior Notes due 2025 | 6.300% Notes due 2034
3.375% Senior Notes due 2026 | 7.500% Notes due 2038
5.950% Senior Notes due 2043 | 5.500% Notes due 2040
4.500% Senior Notes due 2045 | 7.375% Notes due 2045
1 | As at December 31, 2019, the aggregate outstanding principal amount of SEP notes was approximately US$3.9 billion.
2 | As at December 31, 2019, the aggregate outstanding principal amount of EEP notes was approximately US$3.0 billion.
Enbridge Notes under Guarantees
USD Denominated 1 | CAD Denominated 2
Senior Floating Rate Notes due 2020 | 4.530% Senior Notes due 2020
Senior Floating Rate Notes due 2020 | 4.850% Senior Notes due 2020
2.900% Senior Notes due 2022 | 4.260% Senior Notes due 2021
4.000% Senior Notes due 2023 | 3.160% Senior Notes due 2021
3.500% Senior Notes due 2024 | 4.850% Senior Notes due 2022
2.500% Senior Notes due 2025 | 3.190% Senior Notes due 2022
4.250% Senior Notes due 2026 | 3.940% Senior Notes due 2023
3.700% Senior Notes due 2027 | 3.940% Senior Notes due 2023
3.125% Senior Notes due 2029 | 3.950% Senior Notes due 2024
4.500% Senior Notes due 2044 | 3.200% Senior Notes due 2027
5.500% Senior Notes due 2046 | 6.100% Senior Notes due 2028
4.000% Senior Notes due 2049 | 2.990% Senior Notes due 2029
| 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 December 31, 2019, the aggregate outstanding principal amount of the Enbridge United States dollar denominated notes was approximately US$7.9 billion.
2 | As at December 31, 2019, the aggregate outstanding principal amount of the Enbridge Canadian dollar denominated notes was approximately $7.6 billion.
In accordance with Rule 3-10 of the United States Securities and Exchange Commission's Regulation S-X, which provides an exemption from the reporting requirements of the Securities Exchange Act of 1934 for subsidiary issuers of guaranteed securities and subsidiary guarantors, in lieu of filing separate financial statements for each of the Partnerships, we have included the accompanying condensed consolidating financial information with separate columns representing the following:
1. | Enbridge Inc., the Parent Issuer and Guarantor;
2. | SEP, a Subsidiary Issuer and Guarantor;
3. | EEP, a Subsidiary Issuer and Guarantor;
4. | Subsidiary Non-Guarantors, as defined herein;
5. | Consolidating and elimination entries required to consolidate the Parent Issuer and Guarantor and its subsidiaries, including the Subsidiary Issuers and Guarantors, and
6. | Enbridge Inc. and subsidiaries on a consolidated basis.
For the purposes of the condensed consolidating financial information only, investments in subsidiaries are accounted for under the equity method. In addition, the Condensed Consolidating Statements of Cash Flows present the intercompany loan and distribution activity, as well as cash collection and payments made on behalf of our subsidiaries, as cash activities. These intercompany investments and related activities eliminate on consolidation and are presented separately only for the purpose of the accompanying Condensed Consolidating Statements. Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2019
| 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 | — |  | — |  | — |  | 29,309 |  | — |  | 29,309 |
Gas distribution sales | — |  | — |  | — |  | 4,205 |  | — |  | 4,205 |
Transportation and other services | — |  | — |  | — |  | 16,555 |  | — |  | 16,555 |
Total operating revenues | — |  | — |  | — |  | 50,069 |  | — |  | 50,069 |
Operating Expenses |  |  |  |  |  |
Commodity costs | — |  | — |  | — |  | 28,802 |  | — |  | 28,802 |
Gas distribution costs | — |  | — |  | — |  | 2,202 |  | — |  | 2,202 |
Operating and administrative | 128 |  | 5 |  | (16 | ) | 6,874 |  | — |  | 6,991 |
Depreciation and amortization | 67 |  | — |  | — |  | 3,324 |  | — |  | 3,391 |
Impairment of long-lived assets | — |  | — |  | — |  | 423 |  | — |  | 423 |
Impairment of goodwill | — |  | — |  | — |  | — |  | — |  | — |
Total operating expenses | 195 |  | 5 |  | (16 | ) | 41,625 |  | — |  | 41,809 |
Operating income/(loss) | (195 | ) | (5 | ) | 16 |  | 8,444 |  | — |  | 8,260 |
Income from equity investments | 70 |  | 133 |  | — |  | 1,366 |  | (66 | ) | 1,503 |
Equity earnings from consolidated subsidiaries | 3,881 |  | 1,189 |  | 1,043 |  | 1,696 |  | (7,809 | ) | — |
Other | — |  | — |  | — |  | — |  | — |  | — |
Net foreign currency gain/(loss) | 1,671 |  | — |  | — |  | (106 | ) | (1,088 | ) | 477 |
Gain/(loss) on dispositions | (7 | ) | — |  | — |  | (293 | ) | — |  | (300 | )
Other, including other income from affiliates | 1,944 |  | 2 |  | 189 |  | 573 |  | (2,450 | ) | 258 |
Interest expense | (1,268 | ) | (330 | ) | (591 | ) | (2,966 | ) | 2,492 |  | (2,663 | )
Earnings before income taxes | 6,096 |  | 989 |  | 657 |  | 8,714 |  | (8,921 | ) | 7,535 |
Income tax (expense)/recovery | (391 | ) | 44 |  | 6 |  | (1,985 | ) | 618 |  | (1,708 | )
Earnings | 5,705 |  | 1,033 |  | 663 |  | 6,729 |  | (8,303 | ) | 5,827 |
Earnings attributable to noncontrolling interests and redeemable noncontrolling interests | — |  | — |  | — |  | — |  | (122 | ) | (122 | )
Earnings attributable to controlling interests | 5,705 |  | 1,033 |  | 663 |  | 6,729 |  | (8,425 | ) | 5,705 |
Preference share dividends | (383 | ) | — |  | — |  | — |  | — |  | (383 | )
Earnings attributable to common shareholders | 5,322 |  | 1,033 |  | 663 |  | 6,729 |  | (8,425 | ) | 5,322 |
Earnings | 5,705 |  | 1,033 |  | 663 |  | 6,729 |  | (8,303 | ) | 5,827 |
Total other comprehensive income/(loss) | (2,992 | ) | (67 | ) | 51 |  | (929 | ) | 830 |  | (3,107 | )
Comprehensive income | 2,713 |  | 966 |  | 714 |  | 5,800 |  | (7,473 | ) | 2,720 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | — |  | — |  | (7 | ) | (7 | )
Comprehensive income attributable to controlling interests | 2,713 |  | 966 |  | 714 |  | 5,800 |  | (7,480 | ) | 2,713 |
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 Financial Position as at December 31, 2019
| 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 | — |  | 33 |  | 4 |  | 611 |  | — |  | 648 |
Restricted cash | 9 |  | — |  | — |  | 19 |  | — |  | 28 |
Accounts receivable and other | 429 |  | 8 |  | 4 |  | 6,340 |  | — |  | 6,781 |
Accounts receivable from affiliates | 746 |  | — |  | 12 |  | (164 | ) | (525 | ) | 69 |
Short-term loans receivable from affiliates | 1,691 |  | — |  | 3,961 |  | 4,417 |  | (10,069 | ) | — |
Inventory | — |  | — |  | — |  | 1,299 |  | — |  | 1,299 |
| 2,875 |  | 41 |  | 3,981 |  | 12,522 |  | (10,594 | ) | 8,825 |
Property, plant and equipment, net | 248 |  | — |  | — |  | 93,475 |  | — |  | 93,723 |
Long-term loans receivable from affiliates | 47,285 |  | 73 |  | 2,387 |  | 35,672 |  | (85,417 | ) | — |
Investments in subsidiaries | 80,456 |  | 18,956 |  | 5,180 |  | 14,782 |  | (119,374 | ) | — |
Long-term investments | 1,701 |  | 932 |  | — |  | 14,467 |  | (572 | ) | 16,528 |
Restricted long-term investments | — |  | — |  | — |  | 434 |  | — |  | 434 |
Deferred amounts and other assets | 998 |  | 1 |  | 1 |  | 7,282 |  | (849 | ) | 7,433 |
Intangible assets, net | 247 |  | — |  | — |  | 1,926 |  | — |  | 2,173 |
Goodwill | — |  | — |  | — |  | 33,153 |  | — |  | 33,153 |
Deferred income taxes | 486 |  | — |  | — |  | 514 |  | — |  | 1,000 |
Total assets | 134,296 |  | 20,003 |  | 11,549 |  | 214,227 |  | (216,806 | ) | 163,269 |
Liabilities and equity |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Short-term borrowings | — |  | — |  | — |  | 898 |  | — |  | 898 |
Accounts payable and other | 2,765 |  | 28 |  | 1 |  | 7,745 |  | (476 | ) | 10,063 |
Accounts payable to affiliates | 736 |  | 367 |  | 83 |  | (640 | ) | (525 | ) | 21 |
Interest payable | 279 |  | 52 |  | 51 |  | 242 |  | — |  | 624 |
Short-term loans payable to affiliates | 367 |  | 2,058 |  | 1,991 |  | 5,653 |  | (10,069 | ) | — |
Current portion of long-term debt | 2,160 |  | 518 |  | — |  | 1,726 |  | — |  | 4,404 |
| 6,307 |  | 3,023 |  | 2,126 |  | 15,624 |  | (11,070 | ) | 16,010 |
Long-term debt | 27,290 |  | 4,435 |  | 3,789 |  | 24,147 |  | — |  | 59,661 |
Other long-term liabilities | 1,295 |  | 2 |  | 12 |  | 7,864 |  | (849 | ) | 8,324 |
Long-term loans payable to affiliates | 33,686 |  | — |  | 3,112 |  | 48,619 |  | (85,417 | ) | — |
Deferred income taxes | — |  | 271 |  | — |  | 13,887 |  | (4,291 | ) | 9,867 |
| 68,578 |  | 7,731 |  | 9,039 |  | 110,141 |  | (101,627 | ) | 93,862 |
Equity |  |  |  |  |  |
Controlling interests 1 | 65,718 |  | 12,272 |  | 2,510 |  | 104,086 |  | (118,543 | ) | 66,043 |
Noncontrolling interests | — |  | — |  | — |  | — |  | 3,364 |  | 3,364 |
| 65,718 |  | 12,272 |  | 2,510 |  | 104,086 |  | (115,179 | ) | 69,407 |
Total liabilities and equity | 134,296 |  | 20,003 |  | 11,549 |  | 214,227 |  | (216,806 | ) | 163,269 |
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, 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 Cash Flows for the year ended December 31, 2019
| 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 operating activities | 2,246 |  | 1,676 |  | (365 | ) | 9,675 |  | (3,834 | ) | 9,398 |
Investing activities |  |  |  |  |  |
Capital expenditures | (75 | ) | — |  | — |  | (5,417 | ) | — |  | (5,492 | )
Long-term investments and restricted long-term investments | (26 | ) | (11 | ) | — |  | (1,122 | ) | — |  | (1,159 | )
Distributions from equity investments in excess of cumulative earnings | — |  | 24 |  | 1,196 |  | 393 |  | (1,196 | ) | 417 |
Additions to intangible assets | (68 | ) | — |  | — |  | (132 | ) | — |  | (200 | )
Affiliate loans, net | — |  | — |  | — |  | (314 | ) | — |  | (314 | )
Proceeds from disposition | — |  | — |  | — |  | 2,110 |  | — |  | 2,110 |
Contributions to subsidiaries | (4,759 | ) | — |  | (12 | ) | — |  | 4,771 |  | — |
Return of share capital from subsidiary companies | 5,281 |  | — |  | — |  | — |  | (5,281 | ) | — |
Advances to affiliates | (50,897 | ) | — |  | (2,778 | ) | (60,787 | ) | 114,462 |  | — |
Repayment of advances to affiliates | 15,808 |  | — |  | 2,357 |  | 22,136 |  | (40,301 | ) | — |
Other | — |  | — |  | — |  | (20 | ) | — |  | (20 | )
Net cash (used in)/provided by investing activities | (34,736 | ) | 13 |  | 763 |  | (43,153 | ) | 72,455 |  | (4,658 | )
Financing activities |  |  |  |  |  |
Net change in short-term borrowings | — |  | — |  | — |  | (127 | ) | — |  | (127 | )
Net change in commercial paper and credit facility draws | 3,158 |  | (2,011 | ) | (1,017 | ) | 695 |  | — |  | 825 |
Debenture and term note issues, net of issue costs | 3,621 |  | — |  | — |  | 2,555 |  | — |  | 6,176 |
Debenture and term note repayments | (1,450 | ) | — |  | (2,514 | ) | (704 | ) | — |  | (4,668 | )
Contributions from noncontrolling interests | — |  | — |  | — |  | — |  | 12 |  | 12 |
Distributions to noncontrolling interests | — |  | — |  | — |  | — |  | (254 | ) | (254 | )
Contributions from redeemable noncontrolling interests | — |  | — |  | — |  | — |  | — |  | — |
Distributions to redeemable noncontrolling interests | — |  | — |  | — |  | — |  | — |  | — |
Contributions from parents | — |  | — |  | — |  | 4,771 |  | (4,771 | ) | — |
Distributions to parents | — |  | (1,014 | ) | (651 | ) | (8,888 | ) | 10,553 |  | — |
Redemption of preferred shares | — |  | — |  | — |  | (300 | ) | — |  | (300 | )
Common shares issued | 18 |  | — |  | — |  | — |  | — |  | 18 |
Preference share dividends | (383 | ) | — |  | — |  | — |  | — |  | (383 | )
Common share dividends | (5,973 | ) | — |  | — |  | — |  | — |  | (5,973 | )
Advances from affiliates | 46,860 |  | 5,678 |  | 8,249 |  | 53,675 |  | (114,462 | ) | — |
Repayment of advances from affiliates | (13,361 | ) | (4,321 | ) | (4,454 | ) | (18,165 | ) | 40,301 |  | — |
Other | — |  | (4 | ) | (7 | ) | (60 | ) | — |  | (71 | )
Net cash provided by/(used in) financing activities | 32,490 |  | (1,672 | ) | (394 | ) | 33,452 |  | (68,621 | ) | (4,745 | )
Effect of translation of foreign denominated cash and cash equivalents and restricted cash | — |  | — |  | — |  | 44 |  | — |  | 44 |
Net increase/(decrease) in cash and cash equivalents and restricted cash | — |  | 17 |  | 4 |  | 18 |  | — |  | 39 |
Cash and cash equivalents and restricted cash at beginning of year | 9 |  | 16 |  | — |  | 612 |  | — |  | 637 |
Cash and cash equivalents and restricted cash at end of year | 9 |  | 33 |  | 4 |  | 630 |  | — |  | 676 |
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 | 1,696 |  | 1,751 |  | (239 | ) | 11,683 |  | (4,389 | ) | 10,502 |
Investing activities |  |  |  |  |  |
Capital expenditures | (28 | ) | — |  | — |  | (6,778 | ) | — |  | (6,806 | )
Long-term investments and restricted long-term investments | (81 | ) | (12 | ) | — |  | (1,297 | ) | 78 |  | (1,312 | )
Distributions from equity investments in excess of cumulative earnings | 287 |  | 45 |  | 982 |  | 1,232 |  | (1,269 | ) | 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 | ) | (5,685 | ) | 14,251 |  | — |
Repayment of advances to affiliates | 9,427 |  | 518 |  | 1,504 |  | 4,124 |  | (15,573 | ) | — |
Affiliate loans, net |  |  |  | (76 | ) |  | (76 | )
Other | — |  | — |  | — |  | (12 | ) | — |  | (12 | )
Net cash provided by/(used in) investing activities | 111 |  | 472 |  | 770 |  | (7,982 | ) | 3,612 |  | (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 | ) | (6,564 | ) | 9,132 |  | — |
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 |  | 1,474 |  | 3,501 |  | 8,566 |  | (14,251 | ) | — |
Repayment of advances from affiliates | (443 | ) | (826 | ) | (2,855 | ) | (11,449 | ) | 15,573 |  | — |
Other | — |  | (5 | ) | — |  | (18 | ) | — |  | (23 | )
Net cash (used in)/provided by financing activities | (1,800 | ) | (2,221 | ) | (531 | ) | (3,728 | ) | 777 |  | (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 | 620 |  | 355 |  | (695 | ) | 9,654 |  | (3,276 | ) | 6,658 |
Investing activities |  |  |  |  |  |
Capital expenditures | (21 | ) | — |  | — |  | (8,266 | ) | — |  | (8,287 | )
Long-term investments and restricted long-term investments | (202 | ) | (51 | ) | — |  | (3,535 | ) | 202 |  | (3,586 | )
Distributions from equity investments in excess of cumulative earnings | 36 |  | 22 |  | 921 |  | 103 |  | (957 | ) | 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 |
Contributions to subsidiaries | (4,866 | ) | — |  | (2,056 | ) | — |  | 6,922 |  | — |
Return of share capital from subsidiaries | 2,192 |  | — |  | 1,532 |  | — |  | (3,724 | ) | — |
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 | ) | — |
Affiliate loans, net | — |  | — |  | — |  | (22 | ) | — |  | (22 | )
Other | — |  | — |  | — |  | 212 |  | — |  | 212 |
Net cash (used in)/provided by investing activities | (5,547 | ) | (548 | ) | 2,858 |  | (10,598 | ) | 2,798 |  | (11,037 | )
Financing activities |  |  |  |  |  |
Net change in short-term borrowings | — |  | — |  | — |  | 721 |  | — |  | 721 |
Net change in commercial paper and credit facility draws | (1,845 | ) | 1,965 |  | (316 | ) | (1,053 | ) | — |  | (1,249 | )
Debenture and term note issues, net of issue costs | 8,177 |  | 519 |  | — |  | 787 |  | — |  | 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 | ) | (6,093 | ) | 8,869 |  | — |
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 |  | 191 |  | (2,259 | ) | 143 |  | 478 |  | 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.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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