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REVENUES | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023
(millions of Canadian dollars) |  |  |  |  |  |  |
Transportation revenue | 2,942 |  | 1,384 |  | 276 |  | — |  | — |  | — |  | 4,602 |
Storage and other revenue | 64 |  | 95 |  | 99 |  | — |  | — |  | — |  | 258 |
Gas distribution revenue | — |  | — |  | 2,287 |  | — |  | — |  | — |  | 2,287 |
Electricity revenue | — |  | — |  | — |  | 66 |  | — |  | — |  | 66 |
Total revenue from contracts with customers | 3,006 |  | 1,479 |  | 2,662 |  | 66 |  | — |  | — |  | 7,213 |
Commodity sales | — |  | — |  | — |  | — |  | 4,783 |  | — |  | 4,783 |
Other revenue 1,2 | 30 |  | 11 |  | (40) |  | 78 |  | — |  | — |  | 79 |
Intersegment revenue | 129 |  | 1 |  | 3 |  | — |  | 18 |  | (151) |  | — |
Total revenue | 3,165 |  | 1,491 |  | 2,625 |  | 144 |  | 4,801 |  | (151) |  | 12,075 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation | Energy Services | Eliminations and Other | Consolidated
Three months ended March 31, 2022
(millions of Canadian dollars) |  |  |  |  |  |  |
Transportation revenue | 2,685 |  | 1,194 |  | 251 |  | — |  | — |  | — |  | 4,130 |
Storage and other revenue | 51 |  | 84 |  | 47 |  | — |  | — |  | — |  | 182 |
Gas gathering and processing revenue | — |  | 15 |  | — |  | — |  | — |  | — |  | 15 |
Gas distribution revenue | — |  | — |  | 2,098 |  | — |  | — |  | — |  | 2,098 |
Electricity revenue | — |  | — |  | — |  | 62 |  | — |  | — |  | 62 |
Total revenue from contracts with customers | 2,736 |  | 1,293 |  | 2,396 |  | 62 |  | — |  | — |  | 6,487 |
Commodity sales | — |  | — |  | — |  | — |  | 8,325 |  | — |  | 8,325 |
Other revenue 1,2 | 178 |  | 7 |  | 4 |  | 94 |  | 2 |  | — |  | 285 |
Intersegment revenue | 141 |  | — |  | 11 |  | — |  | 10 |  | (162) |  | — |
Total revenue | 3,055 |  | 1,300 |  | 2,411 |  | 156 |  | 8,337 |  | (162) |  | 15,097 |
1 Includes realized and unrealized gains and losses from our hedging program which for the three months ended March 31, 2023 were a net $55 million loss (2022 - $94 million gain). 2 Includes revenues from lease contracts for the three months ended March 31, 2023 and 2022 of $144 million and $164 million, respectively. We disaggregate revenue 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 March 31, 2023 | 3,186 |  | 232 |  | 2,328 |
Balance as at December 31, 2022 | 3,183 |  | 230 |  | 2,241 |
Contract receivables represent the amount of receivables derived from contracts with customers. Contract assets represent the amount of revenue which has been recognized in advance of payments received for performance obligations we have fulfilled (or have partially fulfilled) and prior to the point in time at which our right to the payment is unconditional. Amounts included in contract assets are transferred to accounts receivable when our right to 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 revenue. Revenue recognized during the three months ended March 31, 2023 included in contract liabilities at the beginning of the period was $36 million. Increases in contract liabilities from cash received, net of amounts recognized as revenue during the three months ended March 31, 2023 were $124 million. Performance Obligations There was no material revenue recognized in the three months ended March 31, 2023 from performance obligations satisfied in previous periods. Revenue to be Recognized from Unfulfilled Performance Obligations Total revenue from performance obligations expected to be fulfilled in future periods is $60.0 billion, of which $6.0 billion and $6.7 billion are expected to be recognized during the remaining nine months ending December 31, 2023 and the year ending December 31, 2024, respectively. The revenues excluded from the amounts above, based on optional exemptions available under Accounting Standards Codification (ASC) 606, as explained below, represent a significant portion of our overall revenues and revenues 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 revenue 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, revenues 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 March 31, 2023, 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 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 (CER) decision, interim toll revenue recognized during the three months ended March 31, 2023 is considered variable consideration. Recognition and Measurement of Revenues
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation |  | Consolidated
Three months ended March 31, 2023
(millions of Canadian dollars) |  |  |  |  |  |
Revenue from products transferred at a point in time | — |  | — |  | 30 |  | — |  |  | 30 |
Revenue from products and services transferred over time 1 | 3,006 |  | 1,479 |  | 2,632 |  | 66 |  |  | 7,183 |
Total revenue from contracts with customers | 3,006 |  | 1,479 |  | 2,662 |  | 66 |  |  | 7,213 |
| Liquids Pipelines | Gas Transmission and Midstream | Gas Distribution and Storage | Renewable Power Generation |  | Consolidated
Three months ended March 31, 2022
(millions of Canadian dollars) |  |  |  |  |  |
Revenue from products transferred at a point in time | — |  | — |  | 16 |  | — |  |  | 16 |
Revenue from products and services transferred over time 1 | 2,736 |  | 1,293 |  | 2,380 |  | 62 |  |  | 6,471 |
Total revenue from contracts with customers | 2,736 |  | 1,293 |  | 2,396 |  | 62 |  |  | 6,487 |
1 Revenue 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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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