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REVENUES | 9 Months Ended
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Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
REVENUES | REVENUES REVENUE FROM CONTRACTS WITH CUSTOMERS Major Products and Services
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation | Energy Services | Eliminations and Other | Consolidated
Three months ended September 30, 2021
(millions of Canadian dollars) |  |  |  |  |  |  |
Transportation revenue | 2,340 |  | 1,081 |  | 128 |  | — |  | — |  | — |  | 3,549 |
Storage and other revenue | 33 |  | 58 |  | 50 |  | — |  | — |  | — |  | 141 |
Gas gathering and processing revenue | — |  | 15 |  | — |  | — |  | — |  | — |  | 15 |
Gas distribution revenue | — |  | — |  | 496 |  | — |  | — |  | — |  | 496 |
Electricity and transmission revenue | — |  | — |  | — |  | 44 |  | — |  | — |  | 44 |
Total revenue from contracts with customers | 2,373 |  | 1,154 |  | 674 |  | 44 |  | — |  | — |  | 4,245 |
Commodity sales | — |  | — |  | — |  | — |  | 7,279 |  | — |  | 7,279 |
Other revenue 1,2 | (143) |  | 4 |  | 24 |  | 78 |  | (1) |  | (20) |  | (58) |
Intersegment revenue | 140 |  | 1 |  | (11) |  | — |  | 12 |  | (142) |  | — |
Total revenue | 2,370 |  | 1,159 |  | 687 |  | 122 |  | 7,290 |  | (162) |  | 11,466 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation | Energy Services | Eliminations and Other | Consolidated
Three months ended September 30, 2020
(millions of Canadian dollars) |  |  |  |  |  |  |
Transportation revenue | 2,234 |  | 1,077 |  | 128 |  | — |  | — |  | — |  | 3,439 |
Storage and other revenue | 22 |  | 64 |  | 51 |  | — |  | — |  | — |  | 137 |
Gas gathering and processing revenue | — |  | 7 |  | — |  | — |  | — |  | — |  | 7 |
Gas distribution revenue | — |  | — |  | 448 |  | — |  | — |  | — |  | 448 |
Electricity and transmission revenue | — |  | — |  | — |  | 46 |  | — |  | — |  | 46 |
Total revenue from contracts with customers | 2,256 |  | 1,148 |  | 627 |  | 46 |  | — |  | — |  | 4,077 |
Commodity sales | — |  | — |  | — |  | — |  | 4,595 |  | — |  | 4,595 |
Other revenue 1,2 | 360 |  | 14 |  | (8) |  | 80 |  | (3) |  | (5) |  | 438 |
Intersegment revenue | 157 |  | — |  | 2 |  | — |  | 4 |  | (163) |  | — |
Total revenue | 2,773 |  | 1,162 |  | 621 |  | 126 |  | 4,596 |  | (168) |  | 9,110 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation | Energy Services | Eliminations and Other | Consolidated
Nine months ended September 30, 2021
(millions of Canadian dollars) |  |  |  |  |  |  |
Transportation revenue | 6,826 |  | 3,248 |  | 494 |  | — |  | — |  | — |  | 10,568 |
Storage and other revenue | 96 |  | 195 |  | 159 |  | — |  | — |  | — |  | 450 |
Gas gathering and processing revenue | — |  | 32 |  | — |  | — |  | — |  | — |  | 32 |
Gas distribution revenue | — |  | — |  | 2,755 |  | — |  | — |  | — |  | 2,755 |
Electricity and transmission revenue | — |  | — |  | — |  | 125 |  | — |  | — |  | 125 |
Total revenue from contracts with customers | 6,922 |  | 3,475 |  | 3,408 |  | 125 |  | — |  | — |  | 13,930 |
Commodity sales | — |  | — |  | — |  | — |  | 20,042 |  | — |  | 20,042 |
Other revenue 1,2 | 284 |  | 25 |  | 42 |  | 246 |  | — |  | (18) |  | 579 |
Intersegment revenue | 410 |  | 1 |  | 13 |  | — |  | 26 |  | (450) |  | — |
Total revenue | 7,616 |  | 3,501 |  | 3,463 |  | 371 |  | 20,068 |  | (468) |  | 34,551 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation | Energy Services | Eliminations and Other | Consolidated
Nine months ended September 30, 2020
(millions of Canadian dollars) |  |  |  |  |  |  |
Transportation revenue | 6,815 |  | 3,458 |  | 494 |  | — |  | — |  | — |  | 10,767 |
Storage and other revenue | 72 |  | 209 |  | 154 |  | — |  | — |  | — |  | 435 |
Gas gathering and processing revenue | — |  | 19 |  | — |  | — |  | — |  | — |  | 19 |
Gas distribution revenue | — |  | — |  | 2,551 |  | — |  | — |  | — |  | 2,551 |
Electricity and transmission revenue | — |  | — |  | — |  | 150 |  | — |  | — |  | 150 |
Total revenue from contracts with customers | 6,887 |  | 3,686 |  | 3,199 |  | 150 |  | — |  | — |  | 13,922 |
Commodity sales | — |  | — |  | — |  | — |  | 14,920 |  | — |  | 14,920 |
Other revenue 1,2 | (59) |  | 35 |  | (1) |  | 279 |  | 1 |  | (18) |  | 237 |
Intersegment revenue | 424 |  | 1 |  | 8 |  | — |  | 22 |  | (455) |  | — |
Total revenue | 7,252 |  | 3,722 |  | 3,206 |  | 429 |  | 14,943 |  | (473) |  | 29,079 |
1 Includes mark-to-market gains/(losses) from our hedging program for the three months ended September 30, 2021 and 2020 of $225 million mark-to-market loss and $276 million mark-to-market gain, respectively. For the nine months ended September 30, 2021 and 2020, Other revenue includes a $36 million mark-to-market gain and $298 million mark-to-market loss, respectively. 2 Includes revenues from lease contracts for the three months ended September 30, 2021 and 2020 of $140 million and $144 million, respectively and for the nine months ended September 30, 2021 and 2020 of $442 million and $459 million, respectively. We disaggregate revenues into categories which represent our principal performance obligations within each business segment. These revenue categories represent the most significant revenue streams in each segment and consequently are considered to be the most relevant revenue information for management to consider in evaluating performance. Contract Balances
| Contract Receivables | Contract Assets | Contract Liabilities
(millions of Canadian dollars) |  |  |
Balance as at September 30, 2021 | 1,673 |  | 212 |  | 1,842 |
Balance as at December 31, 2020 | 2,042 |  | 226 |  | 1,815 |
Contract receivables represent the amount of receivables derived from contracts with customers. Contract assets represent the amount of revenues which have been recognized in advance of payments received for performance obligations we have fulfilled (or partially fulfilled) and prior to the point in time at which our right to payment is unconditional. Amounts included in contract assets are transferred to accounts receivable when our right to receive the consideration becomes unconditional. Contract liabilities represent payments received for performance obligations which have not been fulfilled. Contract liabilities primarily relate to make-up rights and deferred revenues. Revenue recognized during the three and nine months ended September 30, 2021 included in contract liabilities at the beginning of the period was $44 million and $269 million, respectively. Increases in contract liabilities from cash received, net of amounts recognized as revenues, during the three and nine months ended September 30, 2021 were $154 million and $299 million, respectively. Performance Obligations There were no material revenues recognized in the three and nine months ended September 30, 2021 from performance obligations satisfied in previous periods. Revenues to be Recognized from Unfulfilled Performance Obligations Total revenues from performance obligations expected to be fulfilled in future periods are $55.6 billion, of which $1.7 billion and $5.6 billion are expected to be recognized during the remaining three months ending December 31, 2021 and the year ending December 31, 2022, respectively. The revenues excluded from the amounts above based on optional exemptions available under ASC 606, as explained below, represent a significant portion of our overall revenues and revenue from contracts with customers. Certain revenues such as flow-through operating costs charged to shippers are recognized at the amount for which we have the right to invoice our customers and are excluded from the amounts for revenues to be recognized in the future from unfulfilled performance obligations above. Variable consideration is excluded from the amounts above due to the uncertainty of the associated consideration, which is generally resolved when actual volumes and prices are determined. For example, we consider interruptible transportation service revenues to be variable revenues since volumes cannot be estimated. Additionally, the effect of escalation on certain tolls which are contractually escalated for inflation has not been reflected in the amounts above as it is not possible to reliably estimate future inflation rates. Revenues for periods extending beyond the current rate settlement term for regulated contracts where the tolls are periodically reset by the regulator are excluded from the amounts above since future tolls remain unknown. Finally, revenue from contracts with customers which have an original expected duration of one year or less are excluded from the amounts above. Variable Consideration During the three months ended September 30, 2021, revenue for the Canadian Mainline has been recognized in accordance with the terms of the Competitive Tolling Settlement, which expired on June 30, 2021. The tolls in place on June 30, 2021 continue on an interim basis until a new Canadian Mainline commercial arrangement is implemented and are subject to finalization and adjustment applicable to the interim period, if any. Due to the uncertainty of adjustment to tolling pursuant to a Canada Energy Regulator decision and potential customer negotiations, the interim toll revenue recognized during the three months ended September 30, 2021 is considered variable consideration. We do not expect a significant adjustment to revenue when the uncertainty is resolved. Recognition and Measurement of Revenues
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation |  | Consolidated
Three months ended September 30, 2021
(millions of Canadian dollars) |  |  |  |  |  |
Revenues from products transferred at a point in time | — |  | — |  | 13 |  | — |  |  | 13 |
Revenues from products and services transferred over time 1 | 2,373 |  | 1,154 |  | 661 |  | 44 |  |  | 4,232 |
Total revenue from contracts with customers | 2,373 |  | 1,154 |  | 674 |  | 44 |  |  | 4,245 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation |  | Consolidated
Three months ended September 30, 2020
(millions of Canadian dollars) |  |  |  |  |  |
Revenues from products transferred at a point in time | — |  | — |  | 15 |  | — |  |  | 15 |
Revenues from products and services transferred over time 1 | 2,256 |  | 1,148 |  | 612 |  | 46 |  |  | 4,062 |
Total revenue from contracts with customers | 2,256 |  | 1,148 |  | 627 |  | 46 |  |  | 4,077 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation |  | Consolidated
Nine months ended September 30, 2021
(millions of Canadian dollars) |  |  |  |  |  |
Revenues from products transferred at a point in time | — |  | — |  | 47 |  | — |  |  | 47 |
Revenues from products and services transferred over time 1 | 6,922 |  | 3,475 |  | 3,361 |  | 125 |  |  | 13,883 |
Total revenue from contracts with customers | 6,922 |  | 3,475 |  | 3,408 |  | 125 |  |  | 13,930 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation |  | Consolidated
Nine months ended September 30, 2020
(millions of Canadian dollars) |  |  |  |  |  |
Revenues from products transferred at a point in time | — |  | — |  | 45 |  | — |  |  | 45 |
Revenues from products and services transferred over time 1 | 6,887 |  | 3,686 |  | 3,154 |  | 150 |  |  | 13,877 |
Total revenue from contracts with customers | 6,887 |  | 3,686 |  | 3,199 |  | 150 |  |  | 13,922 |
1 Includes revenues from crude oil and natural gas pipeline transportation, storage, natural gas gathering, compression and treating, natural gas distribution, natural gas storage services and electricity sales.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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