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SEGMENTED INFORMATION (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Reporting Information by Segment

Three months ended September 30, 2025

Liquids
Pipelines

 

Gas
Transmission

 

Gas
Distribution
and Storage

 

Renewable
Power
Generation

 

Total
Reportable
Segments

 

(millions of Canadian dollars)

 

 

 

 

 

 

 

 

 

 

Operating revenues1

 

11,183

 

 

1,597

 

 

1,513

 

 

130

 

 

14,423

 

Commodity and gas distribution costs

 

(8,032

)

 

(12

)

 

(284

)

 

(2

)

 

(8,330

)

Operating and administrative

 

(1,108

)

 

(571

)

 

(719

)

 

(87

)

 

(2,485

)

Income from equity investments

 

230

 

 

192

 

 

1

 

 

32

 

 

455

 

Other income

 

10

 

 

64

 

 

49

 

 

16

 

 

139

 

Earnings before interest, income taxes and depreciation and amortization

 

2,283

 

 

1,270

 

 

560

 

 

89

 

 

4,202

 

Eliminations and Other

 

 

 

 

 

 

 

 

 

(379

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

(1,398

)

Interest expense

 

 

 

 

 

 

 

 

 

(1,262

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

1,163

 

 

Three months ended September 30, 2024

Liquids
Pipelines

 

Gas
Transmission

 

Gas
Distribution
and Storage

 

Renewable
Power
Generation

 

Total
Reportable
Segments

 

(millions of Canadian dollars)

 

 

 

 

 

 

 

 

 

 

Operating revenues1

 

11,775

 

 

1,486

 

 

1,281

 

 

133

 

 

14,675

 

Commodity and gas distribution costs

 

(8,624

)

 

(29

)

 

(203

)

 

2

 

 

(8,854

)

Operating and administrative

 

(1,104

)

 

(536

)

 

(579

)

 

(74

)

 

(2,293

)

Income from equity investments

 

261

 

 

182

 

 

 

 

39

 

 

482

 

Other income

 

17

 

 

43

 

 

23

 

 

2

 

 

85

 

Earnings before interest, income taxes and depreciation and amortization

 

2,325

 

 

1,146

 

 

522

 

 

102

 

 

4,095

 

Eliminations and Other

 

 

 

 

 

 

 

 

 

295

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

(1,317

)

Interest expense

 

 

 

 

 

 

 

 

 

(1,314

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

1,759

 

 

 

Nine months ended September 30, 2025

Liquids
Pipelines

 

Gas
Transmission

 

Gas
Distribution
and Storage

 

Renewable
Power
Generation

 

Total
Reportable
Segments

 

(millions of Canadian dollars)

 

 

 

 

 

 

 

 

 

 

Operating revenues1

 

34,204

 

 

4,916

 

 

7,485

 

 

395

 

 

47,000

 

Commodity and gas distribution costs

 

(24,623

)

 

(39

)

 

(2,471

)

 

2

 

 

(27,131

)

Operating and administrative

 

(3,268

)

 

(1,609

)

 

(2,179

)

 

(237

)

 

(7,293

)

Impairment of long-lived assets2

 

 

 

 

 

(330

)

 

 

 

(330

)

Income from equity investments

 

843

 

 

665

 

 

2

 

 

191

 

 

1,701

 

Other income

 

51

 

 

252

 

 

163

 

 

70

 

 

536

 

Earnings before interest, income taxes and depreciation and amortization

 

7,207

 

 

4,185

 

 

2,670

 

 

421

 

 

14,483

 

Eliminations and Other

 

 

 

 

 

 

 

 

 

828

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

(4,197

)

Interest expense

 

 

 

 

 

 

 

 

 

(3,777

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

7,337

 

 

Nine months ended September 30, 2024

Liquids
Pipelines

 

Gas
Transmission

 

Gas
Distribution
and Storage

 

Renewable
Power
Generation

 

Total
Reportable
Segments

 

(millions of Canadian dollars)

 

 

 

 

 

 

 

 

 

 

Operating revenues1

 

26,815

 

 

4,550

 

 

4,796

 

 

370

 

 

36,531

 

Commodity and gas distribution costs

 

(17,168

)

 

(117

)

 

(1,519

)

 

1

 

 

(18,803

)

Operating and administrative

 

(3,311

)

 

(1,701

)

 

(1,486

)

 

(214

)

 

(6,712

)

Income from equity investments

 

798

 

 

611

 

 

1

 

 

265

 

 

1,675

 

Gain on disposition of equity investments (Note 6)

 

 

 

1,063

 

 

 

 

28

 

 

1,091

 

Other income

 

45

 

 

100

 

 

62

 

 

47

 

 

254

 

Earnings before interest, income taxes and depreciation and amortization

 

7,179

 

 

4,506

 

 

1,854

 

 

497

 

 

14,036

 

Eliminations and Other

 

 

 

 

 

 

 

 

 

(502

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

(3,783

)

Interest expense

 

 

 

 

 

 

 

 

 

(3,301

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

6,450

 

 

1
Refer to Note 3 - Revenue for a reconciliation of segment Operating revenues to the Consolidated Statements of Earnings.
2
The Gas Distribution and Storage segment includes the impact of an impairment recognized for certain rate-regulated assets related to pension and other disallowances as a result of the Public Utilities Commission of Ohio's (Ohio Commission) June 2025 order related to Enbridge Gas Ohio's rate case.

Capital Expenditures1

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2025

 

2024

 

2025

 

2024

 

(millions of Canadian dollars)

 

 

 

 

 

 

 

 

Liquids Pipelines

 

307

 

 

268

 

 

900

 

 

766

 

Gas Transmission

 

933

 

 

609

 

 

2,228

 

 

1,770

 

Gas Distribution and Storage

 

914

 

 

675

 

 

2,310

 

 

1,412

 

Renewable Power Generation

 

173

 

 

92

 

 

532

 

 

209

 

Eliminations and Other

 

20

 

 

8

 

 

71

 

 

59

 

 

 

2,347

 

 

1,652

 

 

6,041

 

 

4,216

 

 

1
Capital expenditures are cash basis plus equity component of the allowance for funds used during construction.

 

Property, Plant and Equipment

 

September 30,
2025

 

December 31,
2024

 

(millions of Canadian dollars)

 

 

Liquids Pipelines

 

52,269

 

 

53,864

 

Gas Transmission

 

35,079

 

 

34,683

 

Gas Distribution and Storage

 

39,200

 

 

38,635

 

Renewable Power Generation

 

4,076

 

 

3,612

 

Eliminations and Other

 

322

 

 

310

 

 

 

130,946

 

 

131,104