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SEGMENTED INFORMATION | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
SEGMENTED INFORMATION | SEGMENTED INFORMATION Change in Reportable Segments Effective January 1, 2024, to better align how the CODM reviews operating performance and resource allocation across operating segments, we transferred our Canadian and United States (US) crude oil marketing businesses from the Energy Services segment to the Liquids Pipelines segment. As a result, the Energy Services segment ceased to exist and the remainder of the business, comprising natural gas and power marketing, is now reported in the Eliminations and Other segment. Beginning in the first quarter of 2024, prior period comparable results for segmented information have been recast to reflect the change in reportable segments. This segment reporting change does not have an impact on our consolidated results.
Three months ended September 30, 2024 | Liquids Pipelines | Gas Transmission | Gas Distribution and Storage | Renewable Power Generation | Eliminations and Other 1 | Consolidated
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues (Note 3) | 11,775 |  | 1,486 |  | 1,281 |  | 133 |  | 207 |  | 14,882 |
Commodity and gas distribution costs | (8,624) |  | (29) |  | (203) |  | 2 |  | (212) |  | (9,066) |
Operating and administrative | (1,104) |  | (536) |  | (579) |  | (74) |  | 12 |  | (2,281) |
Income/(loss) from equity investments | 261 |  | 182 |  | — |  | 39 |  | (3) |  | 479 |
Other income (Note 12) | 17 |  | 43 |  | 23 |  | 2 |  | 291 |  | 376 |
Earnings before interest, income taxes and depreciation and amortization | 2,325 |  | 1,146 |  | 522 |  | 102 |  | 295 |  | 4,390 |
Depreciation and amortization |  |  |  |  |  | (1,317) |
Interest expense |  |  |  |  |  | (1,314) |
Income tax expense |  |  |  |  |  | (312) |
Earnings |  |  |  |  |  | 1,447 |
Capital expenditures 2 | 268 |  | 609 |  | 675 |  | 92 |  | 8 |  | 1,652 |
Three months ended September 30, 2023 | Liquids Pipelines | Gas Transmission | Gas Distribution and Storage | Renewable Power Generation | Eliminations and Other 1 | Consolidated
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues (Note 3) | 7,355 |  | 1,423 |  | 751 |  | 40 |  | 275 |  | 9,844 |
Commodity and gas distribution costs | (4,344) |  | 1 |  | (190) |  | (13) |  | (285) |  | (4,831) |
Operating and administrative | (1,093) |  | (578) |  | (305) |  | (63) |  | (16) |  | (2,055) |
Income/(loss) from equity investments | 232 |  | 94 |  | — |  | 21 |  | (4) |  | 343 |
Other income/(expense) (Note 12) | 14 |  | 33 |  | 15 |  | 45 |  | (572) |  | (465) |
Earnings/(loss) before interest, income taxes and depreciation and amortization | 2,164 |  | 973 |  | 271 |  | 30 |  | (602) |  | 2,836 |
Depreciation and amortization |  |  |  |  |  | (1,164) |
Interest expense |  |  |  |  |  | (921) |
Income tax expense |  |  |  |  |  | (128) |
Earnings |  |  |  |  |  | 623 |
Capital expenditures 2 | 318 |  | 462 |  | 415 |  | 9 |  | 2 |  | 1,206 |
Nine months ended September 30, 2024 | Liquids Pipelines | Gas Transmission | Gas Distribution and Storage | Renewable Power Generation | Eliminations and Other 1 | Consolidated
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues (Note 3) | 26,815 |  | 4,550 |  | 4,796 |  | 370 |  | 725 |  | 37,256 |
Commodity and gas distribution costs | (17,168) |  | (117) |  | (1,519) |  | 1 |  | (745) |  | (19,548) |
Operating and administrative | (3,311) |  | (1,701) |  | (1,486) |  | (214) |  | (11) |  | (6,723) |
Income/(loss) from equity investments | 798 |  | 611 |  | 1 |  | 265 |  | (11) |  | 1,664 |
Gain on disposition of equity investments (Note 6) | — |  | 1,063 |  | — |  | 28 |  | — |  | 1,091 |
Other income/(expense) (Note 12) | 45 |  | 100 |  | 62 |  | 47 |  | (460) |  | (206) |
Earnings/(loss) before interest, income taxes and depreciation and amortization | 7,179 |  | 4,506 |  | 1,854 |  | 497 |  | (502) |  | 13,534 |
Depreciation and amortization |  |  |  |  |  | (3,783) |
Interest expense |  |  |  |  |  | (3,301) |
Income tax expense |  |  |  |  |  | (1,437) |
Earnings |  |  |  |  |  | 5,013 |
Capital expenditures 2 | 766 |  | 1,770 |  | 1,412 |  | 209 |  | 59 |  | 4,216 |
Nine months ended September 30, 2023 | Liquids Pipelines | Gas Transmission | Gas Distribution and Storage | Renewable Power Generation | Eliminations and Other 1 | Consolidated
(millions of Canadian dollars) |  |  |  |  |  |
Operating revenues (Note 3) | 22,200 |  | 4,324 |  | 4,426 |  | 334 |  | 1,067 |  | 32,351 |
Commodity and gas distribution costs | (12,771) |  | 1 |  | (2,173) |  | (19) |  | (1,016) |  | (15,978) |
Operating and administrative | (3,320) |  | (1,715) |  | (939) |  | (178) |  | 32 |  | (6,120) |
Income/(loss) from equity investments | 733 |  | 531 |  | 1 |  | 83 |  | (10) |  | 1,338 |
Other income/(expense) (Note 12) | 102 |  | 79 |  | 39 |  | 75 |  | (83) |  | 212 |
Earnings/(loss) before interest, income taxes and depreciation and amortization | 6,944 |  | 3,220 |  | 1,354 |  | 295 |  | (10) |  | 11,803 |
Depreciation and amortization |  |  |  |  |  | (3,447) |
Interest expense |  |  |  |  |  | (2,709) |
Income tax expense |  |  |  |  |  | (1,157) |
Earnings |  |  |  |  |  | 4,490 |
Capital expenditures 2 | 835 |  | 1,332 |  | 1,025 |  | 77 |  | 54 |  | 3,323 |
1 Includes operating revenues and commodity costs from our natural gas and power marketing subsidiaries for the three months ended September 30, 2024 of $213 million (2023 - $279 million) and $213 million (2023 - $292 million), respectively, and for the nine months ended September 30, 2024 of $750 million (2023 - $1.1 billion) and $757 million (2023 - $1.0 billion), respectively. 2 Includes the equity component of the allowance for funds used during construction.

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- Definition The entire disclosure for reporting segments including data and tables. 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