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PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT
| Weighted Average |  |
December 31, | Depreciation Rate | 2024 | 2023
(millions of Canadian dollars) |  |  |
Pipelines | 2.9 | % | 73,633 |  | 66,698 |
Facilities and equipment | 3.2 | % | 43,439 |  | 37,634 |
Land and right-of-way 1 | 2.8 | % | 4,181 |  | 3,600 |
Gas mains, services and other | 3.0 | % | 26,925 |  | 15,346 |
Storage | 2.6 | % | 6,455 |  | 4,929 |
Wind turbines, solar panels and other | 3.9 | % | 4,798 |  | 4,511 |
Other | 8.6 | % | 3,987 |  | 1,652 |
Under construction | — | % | 5,648 |  | 2,829 |
Total property, plant and equipment 2 |  | 169,066 |  | 137,199 |
Total accumulated depreciation 2 |  | (37,962) |  | (32,558) |
Property, plant and equipment, net |  | 131,104 |  | 104,641 |
1 The measurement of weighted average depreciation rate excludes non-depreciable assets. 2 As at December 31, 2024, the cost and accumulated depreciation of leased assets accounted for as lessor operating leases was $5.3 billion and $2.3 billion, respectively (December 31, 2023 - $5.1 billion and $2.1 billion, respectively). Depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $4.6 billion, $4.0 billion and $3.8 billion, respectively. IMPAIRMENT Chapman Ranch Wind Farm Chapman Ranch Wind Farm (Chapman Ranch) is experiencing financial challenges associated with the original equipment integrity. As a result, we have recognized an impairment loss of $251 million for the year ended December 31, 2023, which is included in Impairment of long-lived assets in the Consolidated Statements of Earnings and is part of our Renewable Power Generation segment. Magic Valley Wind Farm In 2022, Magic Valley Wind Farm (Magic Valley) had commercial challenges caused by electricity transmission congestion and a negative price differential arising from higher transmission costs resulting in a lower electricity sale price. As a result, we recognized an impairment loss of $227 million for the year ended December 31, 2022, which is included in Impairment of long-lived assets in the Consolidated Statements of Earnings and is part of our Renewable Power Generation segment. Bakken Pipeline System For the year ended December 31, 2022, we recognized an impairment loss of $183 million on the US and Canadian components of the interstate pipeline transportation system within the North Dakota System of our Bakken Pipeline System in connection with the expiration of certain long-term take-or-pay contracts in 2023. This loss is included in Impairment of long-lived assets in the Consolidated Statements of Earnings and is part of our Liquids Pipelines segment. Impairment charges were based on the amount by which the carrying value of the assets exceeded fair value, determined using expected discounted future cash flows.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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