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SEGMENTED INFORMATION | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENTED INFORMATION | SEGMENTED INFORMATION
Year ended December 31, 2024 | Liquids Pipelines | Gas Transmission | Gas Distribution and Storage | Renewable Power Generation | Total Reportable Segments
(millions of Canadian dollars) |  |  |  |  |
Operating revenues 1 | 38,183 |  | 6,199 |  | 7,542 |  | 514 |  | 52,438 |
Commodity and gas distribution costs | (25,283) |  | (130) |  | (2,501) |  | 4 |  | (27,910) |
Operating and administrative | (4,495) |  | (2,322) |  | (2,276) |  | (304) |  | (9,397) |
Impairment of long-lived assets | (2) |  | (162) |  | (3) |  | (23) |  | (190) |
Income from equity investments | 1,051 |  | 812 |  | 3 |  | 455 |  | 2,321 |
Gain on disposition of equity investments (Note 13) | — |  | 1,063 |  | — |  | 28 |  | 1,091 |
Other income | 77 |  | 196 |  | 104 |  | 59 |  | 436 |
Earnings before interest, income taxes and depreciation and amortization | 9,531 |  | 5,656 |  | 2,869 |  | 733 |  | 18,789 |
Eliminations and Other |  |  |  |  | (1,904) |
Depreciation and amortization |  |  |  |  | (5,167) |
Interest expense (Note 17) |  |  |  |  | (4,419) |
Earnings before income taxes |  |  |  |  | 7,299 |
Year ended December 31, 2023 | Liquids Pipelines | Gas Transmission | Gas Distribution and Storage | Renewable Power Generation | Total Reportable Segments
(millions of Canadian dollars) |  |  |  |  |
Operating revenues 1 | 29,882 |  | 5,854 |  | 5,976 |  | 477 |  | 42,189 |
Commodity and gas distribution costs | (17,106) |  | (15) |  | (2,871) |  | (20) |  | (20,012) |
Operating and administrative | (4,659) |  | (2,380) |  | (1,285) |  | (261) |  | (8,585) |
Impairment of long-lived assets 2 | 145 |  | — |  | (281) |  | (283) |  | (419) |
Income from equity investments | 1,007 |  | 688 |  | 2 |  | 140 |  | 1,837 |
Other income | 114 |  | 117 |  | 51 |  | 96 |  | 378 |
Earnings before interest, income taxes and depreciation and amortization | 9,383 |  | 4,264 |  | 1,592 |  | 149 |  | 15,388 |
Eliminations and Other |  |  |  |  | 916 |
Depreciation and amortization |  |  |  |  | (4,613) |
Interest expense (Note 17) |  |  |  |  | (3,812) |
Earnings before income taxes |  |  |  |  | 7,879 |
Year ended December 31, 2022 | Liquids Pipelines | Gas Transmission | Gas Distribution and Storage | Renewable Power Generation | Total Reportable Segments
(millions of Canadian dollars) |  |  |  |  |
Operating revenues 1 | 37,174 |  | 5,426 |  | 6,729 |  | 582 |  | 49,911 |
Commodity and gas distribution costs | (25,495) |  | — |  | (3,693) |  | (16) |  | (29,204) |
Operating and administrative | (4,318) |  | (2,254) |  | (1,289) |  | (255) |  | (8,116) |
Impairment of long-lived assets | (258) |  | — |  | — |  | (235) |  | (493) |
Impairment of goodwill | — |  | (2,465) |  | — |  | — |  | (2,465) |
Income from equity investments | 785 |  | 1,133 |  | 1 |  | 141 |  | 2,060 |
Gain on joint venture merger transaction (Note 13) | — |  | 1,076 |  | — |  | — |  | 1,076 |
Other income | 53 |  | 210 |  | 79 |  | 45 |  | 387 |
Earnings before interest, income taxes and depreciation and amortization | 7,941 |  | 3,126 |  | 1,827 |  | 262 |  | 13,156 |
Eliminations and Other |  |  |  |  | (1,118) |
Depreciation and amortization |  |  |  |  | (4,317) |
Interest expense (Note 17) |  |  |  |  | (3,179) |
Earnings before income taxes |  |  |  |  | 4,542 |
1 Refer to Note 4 - Revenue for a reconciliation of segment Operating revenues to the Consolidated Statements of Earnings. 2 The Liquids Pipelines segment includes the impact of a gain resulting from the derecognition of a net regulatory liability due to the discontinuance of regulatory accounting for our Southern Lights Pipeline (Note 7). Capital Expenditures 1
Year ended December 31, | 2024 | 2023 | 2022
(millions of Canadian dollars) |  |  |
Liquids Pipelines | 1,157 |  | 1,158 |  | 1,418 |
Gas Transmission | 2,571 |  | 1,944 |  | 1,690 |
Gas Distribution and Storage | 2,386 |  | 1,451 |  | 1,499 |
Renewable Power Generation | 661 |  | 100 |  | 50 |
Eliminations and Other | 59 |  | 55 |  | 33 |
| 6,834 |  | 4,708 |  | 4,690 |
1 Includes the equity component of the AFUDC. Property, Plant and Equipment
Year ended December 31, | 2024 | 2023 | 2022
(millions of Canadian dollars) |  |  |
Liquids Pipelines | 53,863 |  | 51,855 |  | 53,573 |
Gas Transmission | 34,683 |  | 31,016 |  | 29,666 |
Gas Distribution and Storage | 38,636 |  | 18,766 |  | 17,857 |
Renewable Power Generation | 3,612 |  | 2,706 |  | 3,082 |
Eliminations and Other | 310 |  | 298 |  | 282 |
| 131,104 |  | 104,641 |  | 104,460 |
The measurement basis for preparation of segmented information is consistent with our significant accounting policies (Note 2). GEOGRAPHIC INFORMATION Revenues 1
Year ended December 31, | 2024 | 2023 | 2022
(millions of Canadian dollars) |  |  |
Canada | 22,001 |  | 23,781 |  | 27,498 |
US | 31,472 |  | 19,868 |  | 25,811 |
| 53,473 |  | 43,649 |  | 53,309 |
1 Revenues are based on the country of origin of the product or service sold. Property, Plant and Equipment 1
December 31, | 2024 | 2023
(millions of Canadian dollars) |  |
Canada | 48,873 |  | 48,570 |
US | 82,231 |  | 56,071 |
| 131,104 |  | 104,641 |
1 Amounts are based on the location where the assets are held.

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