CHANGES IN ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The below table presents the cumulative, immaterial effect of the adoption of ASC 606 on our Consolidated Statement of Financial Position as at January 1, 2018 on each affected financial statement line item along with explanations of those effects. For the three months ended March 31, 2018, the effect of the adoption of ASC 606 on our Consolidated Statement of Earnings was not material.

	Balance at December 31, 2017		Adjustments Due to ASC 606		Balance at January 1, 2018
(millions of Canadian dollars)
Assets
Deferred amounts and other assets1,2	6,442		(170	)	6,272
Property, plant and equipment, net2	90,711		112		90,823
Liabilities and equity
Accounts payable and other1,2	9,478		62		9,540
Other long-term liabilities2	7,510		66		7,576
Deferred income taxes1,2	9,295		(62	)	9,233
Redeemable noncontrolling interests1,2	4,067		(38	)	4,029
Deficit1,2	(2,468	)	(86	)	(2,554	)

1  Revenue was previously recognized for a certain contract within the Liquids Pipelines business unit using a formula-based method. Under the new revenue standard, revenue is recognized on a straight-line basis over the term of the agreement in order to reflect the fulfillment of our performance obligation to provide up to a specified volume of pipeline capacity throughout the term of the contract.

2  Certain payments received from customers to offset the cost of constructing assets required to provide services to those customers, referred to as Contributions in Aid of Construction (CIACs) were previously recorded as reductions of property, plant and equipment regardless of whether the amounts were imposed by regulation or arose from negotiations with customers. Under the new revenue standard, CIACs which are negotiated as part of an agreement to provide transportation and other services to a customer are deemed to be advance payments for future services and are recognized as revenue when those future services are provided. Accordingly, negotiated CIACs are accounted for as deferred revenue and recognized as revenue over the term of the associated revenue contract. Amounts which are required to be collected from the customer based on requirements of the regulator continue to be accounted for as reductions of property, plant and equipment.

	Liquids Pipelines	Gas Transmission and Midstream	Gas Distribution	Green Power and Transmission	Energy Services	Consolidated
Three months ended March 31, 2018
(millions of Canadian dollars)
Revenue from products transferred at a point in time1	—	693	25	—	—	718
Revenue from products and services transferred over time2	2,098	1,217	2,206	154	—	5,675
Total revenue from contracts with customers	2,098	1,910	2,231	154	—	6,393

1 Revenue from sales of crude oil, natural gas and NGLs.

2 Revenue from crude oil and natural gas pipeline transportation, storage, natural gas gathering, compression and treating, natural gas distribution, natural gas storage services and electricity sales.