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CONSOLIDATED STATEMENTS OF EARNINGS - CAD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating revenues        
Total operating revenues (Note 3) $ 14,639 $ 14,882 $ 48,017 $ 37,256
Operating expenses        
Operating and administrative 2,483 2,281 7,264 6,723
Depreciation and amortization 1,398 1,317 4,197 3,783
Impairment of long-lived assets (Note 4) 0 0 330 0
Total operating expenses 12,368 12,664 39,785 30,054
Operating income 2,271 2,218 8,232 7,202
Income from equity investments 451 479 1,690 1,664
Gain on disposition of equity investments (Note 6) 0 0 0 1,091
Other income/(expense) (Note 14) (297) 376 1,192 (206)
Interest expense (1,262) (1,314) (3,777) (3,301)
Earnings before income taxes 1,163 1,759 7,337 6,450
Income tax expense (316) (312) (1,679) (1,437)
Earnings 847 1,447 5,658 5,013
Earnings attributable to noncontrolling interests and redeemable noncontrolling interest (59) (56) (227) (167)
Earnings attributable to controlling interests 788 1,391 5,431 4,846
Preference share dividends (106) (98) (311) (286)
Earnings attributable to common shareholders $ 682 $ 1,293 $ 5,120 $ 4,560
Earnings per common share attributable to common shareholders (Note 5) $ 0.3 $ 0.59 $ 2.34 $ 2.12
Diluted earnings per common share attributable to common shareholders (Note 5) $ 0.3 $ 0.59 $ 2.33 $ 2.12
Commodity sales / costs        
Operating revenues        
Total operating revenues (Note 3) $ 8,396 $ 8,986 $ 26,069 $ 18,422
Operating expenses        
Commodity costs and Gas distribution costs 8,207 8,865 25,550 18,044
Gas distribution sales / costs        
Operating revenues        
Total operating revenues (Note 3) 1,303 1,091 6,765 4,260
Operating expenses        
Commodity costs and Gas distribution costs 280 201 2,444 1,504
Transportation and other services        
Operating revenues        
Total operating revenues (Note 3) $ 4,940 $ 4,805 $ 15,183 $ 14,574