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CONDENSED CONSOLIDATING FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
CONDENSED CONSOLIDATED FINANCIAL INFORMATION CONDENSED CONSOLIDATING FINANCIAL INFORMATION

On January 22, 2019, Enbridge entered into supplemental indentures with its wholly-owned subsidiaries, the Partnerships, pursuant to which Enbridge fully and unconditionally guaranteed, on a senior unsecured basis, the payment obligations of the Partnerships with respect to the outstanding series of notes issued under the respective indentures of the Partnerships. Concurrently, the Partnerships entered into a subsidiary guarantee agreement pursuant to which they fully and unconditionally guaranteed, on a senior unsecured basis, the outstanding series of senior notes of Enbridge. As a result of the guarantees, holders of any of the outstanding guaranteed notes of the Partnerships are in the same position with respect to the net assets, income and cash flows of Enbridge as holders of Enbridge's outstanding guaranteed notes, and vice versa. Other than the Partnerships, Enbridge subsidiaries (including the subsidiaries of the Partnerships, collectively, the Subsidiary Non-Guarantors), are not parties to the subsidiary guarantee agreement and have not otherwise guaranteed any of Enbridge's outstanding series of senior notes.

Consenting SEP notes and EEP notes under Guarantee
SEP Notes1
EEP Notes2
Floating Rate Senior Notes due 2020
4.200% Notes due 2021
4.600% Senior Notes due 2021
5.875% Notes due 2025
4.750% Senior Notes due 2024
5.950% Notes due 2033
3.500% Senior Notes due 2025
6.300% Notes due 2034
3.375% Senior Notes due 2026
7.500% Notes due 2038
5.950% Senior Notes due 2043
5.500% Notes due 2040
4.500% Senior Notes due 2045
7.375% Notes due 2045
1
As at December 31, 2019, the aggregate outstanding principal amount of SEP notes was approximately US$3.9 billion.
2
As at December 31, 2019, the aggregate outstanding principal amount of EEP notes was approximately US$3.0 billion.

Enbridge Notes under Guarantees
USD Denominated1
CAD Denominated2
Senior Floating Rate Notes due 2020
4.530% Senior Notes due 2020
Senior Floating Rate Notes due 2020
4.850% Senior Notes due 2020
2.900% Senior Notes due 2022
4.260% Senior Notes due 2021
4.000% Senior Notes due 2023
3.160% Senior Notes due 2021
3.500% Senior Notes due 2024
4.850% Senior Notes due 2022
2.500% Senior Notes due 2025
3.190% Senior Notes due 2022
4.250% Senior Notes due 2026
3.940% Senior Notes due 2023
3.700% Senior Notes due 2027
3.940% Senior Notes due 2023
3.125% Senior Notes due 2029
3.950% Senior Notes due 2024
4.500% Senior Notes due 2044
3.200% Senior Notes due 2027
5.500% Senior Notes due 2046
6.100% Senior Notes due 2028
4.000% Senior Notes due 2049
2.990% Senior Notes due 2029

7.220% Senior Notes due 2030

7.200% Senior Notes due 2032

5.570% Senior Notes due 2035

5.750% Senior Notes due 2039

5.120% Senior Notes due 2040

4.240% Senior Notes due 2042

4.570% Senior Notes due 2044

4.870% Senior Notes due 2044

4.560% Senior Notes due 2064
 

 
 
1
As at December 31, 2019, the aggregate outstanding principal amount of the Enbridge United States dollar denominated notes was approximately US$7.9 billion.
2
As at December 31, 2019, the aggregate outstanding principal amount of the Enbridge Canadian dollar denominated notes was approximately $7.6 billion.

In accordance with Rule 3-10 of the United States Securities and Exchange Commission's Regulation S-X, which provides an exemption from the reporting requirements of the Securities Exchange Act of 1934 for subsidiary issuers of guaranteed securities and subsidiary guarantors, in lieu of filing separate financial statements for each of the Partnerships, we have included the accompanying condensed consolidating financial information with separate columns representing the following:

1.
Enbridge Inc., the Parent Issuer and Guarantor;
2.
SEP, a Subsidiary Issuer and Guarantor;
3.
EEP, a Subsidiary Issuer and Guarantor;
4.
Subsidiary Non-Guarantors, as defined herein;
5.
Consolidating and elimination entries required to consolidate the Parent Issuer and Guarantor and its subsidiaries, including the Subsidiary Issuers and Guarantors, and
6.
Enbridge Inc. and subsidiaries on a consolidated basis.

For the purposes of the condensed consolidating financial information only, investments in subsidiaries are accounted for under the equity method. In addition, the Condensed Consolidating Statements of Cash Flows present the intercompany loan and distribution activity, as well as cash collection and payments made on behalf of our subsidiaries, as cash activities. These intercompany investments and related activities eliminate on consolidation and are presented separately only for the purpose of the accompanying Condensed Consolidating Statements.

Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2019
 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Operating revenues
 
 
 
 
 
 
Commodity sales
—

—

—

29,309

—

29,309

Gas distribution sales
—

—

—

4,205

—

4,205

Transportation and other services
—

—

—

16,555

—

16,555

Total operating revenues
—

—

—

50,069

—

50,069

Operating Expenses
 
 
 
 
 
 
Commodity costs
—

—

—

28,802

—

28,802

Gas distribution costs
—

—

—

2,202

—

2,202

Operating and administrative
128

5

(16
)
6,874

—

6,991

Depreciation and amortization
67

—

—

3,324

—

3,391

Impairment of long-lived assets
—

—

—

423

—

423

Impairment of goodwill
—

—

—

—

—

—

Total operating expenses
195

5

(16
)
41,625

—

41,809

Operating income/(loss)
(195
)
(5
)
16

8,444

—

8,260

Income from equity investments
70

133

—

1,366

(66
)
1,503

Equity earnings from consolidated subsidiaries
3,881

1,189

1,043

1,696

(7,809
)
—

Other
—

—

—

—

—

—

Net foreign currency gain/(loss)
1,671

—

—

(106
)
(1,088
)
477

Gain/(loss) on dispositions
(7
)
—

—

(293
)
—

(300
)
Other, including other income from affiliates
1,944

2

189

573

(2,450
)
258

Interest expense
(1,268
)
(330
)
(591
)
(2,966
)
2,492

(2,663
)
Earnings before income taxes
6,096

989

657

8,714

(8,921
)
7,535

Income tax (expense)/recovery
(391
)
44

6

(1,985
)
618

(1,708
)
Earnings
5,705

1,033

663

6,729

(8,303
)
5,827

Earnings attributable to noncontrolling interests and redeemable noncontrolling interests
—

—

—

—

(122
)
(122
)
Earnings attributable to controlling interests
5,705

1,033

663

6,729

(8,425
)
5,705

Preference share dividends
(383
)
—

—

—

—

(383
)
Earnings attributable to common shareholders
5,322

1,033

663

6,729

(8,425
)
5,322

Earnings
5,705

1,033

663

6,729

(8,303
)
5,827

Total other comprehensive income/(loss)
(2,992
)
(67
)
51

(929
)
830

(3,107
)
Comprehensive income
2,713

966

714

5,800

(7,473
)
2,720

Comprehensive income attributable to noncontrolling interests
—

—

—

—

(7
)
(7
)
Comprehensive income attributable to controlling interests
2,713

966

714

5,800

(7,480
)
2,713














Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2018
 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Operating revenues
 
 
 
 
 
 
Commodity sales
—

—

—

27,660

—

27,660

Gas distribution sales
—

—

—

4,360

—

4,360

Transportation and other services
—

—

—

14,358

—

14,358

Total operating revenues
—

—

—

46,378

—

46,378

Operating Expenses
 
 
 
 
 
 
Commodity costs
—

—

—

26,818

—

26,818

Gas distribution costs
—

—

—

2,583

—

2,583

Operating and administrative
180

14

54

6,622

(78
)
6,792

Depreciation and amortization
59

—

—

3,187

—

3,246

Impairment of long-lived assets
—

—

—

1,104

—

1,104

Impairment of goodwill
—

—

—

1,019

—

1,019

Total operating expenses
239

14

54

41,333

(78
)
41,562

Operating income/(loss)
(239
)
(14
)
(54
)
5,045

78

4,816

Income from equity investments
302

142

—

1,360

(295
)
1,509

Equity earnings/(loss) from consolidated subsidiaries
3,119

(1,634
)
921

(1,581
)
(825
)
—

Other
 
 
 
 
 
 
Net foreign currency gain/(loss)
(829
)
8

—

80

219

(522
)
Gain/(loss) on dispositions
360

—

—

(406
)
—

(46
)
Other, including other income/(expense) from affiliates
945

72

153

254

(908
)
516

Interest expense
(1,080
)
(302
)
(557
)
(1,689
)
925

(2,703
)
Earnings/(loss) before income taxes
2,578

(1,728
)
463

3,063

(806
)
3,570

Income tax recovery/(expense)
304

(319
)
3

(4,373
)
4,148

(237
)
Earnings/(loss)
2,882

(2,047
)
466

(1,310
)
3,342

3,333

Earnings attributable to noncontrolling interests and redeemable noncontrolling interests
—

—

—

—

(451
)
(451
)
Earnings/(loss) attributable to controlling interests
2,882

(2,047
)
466

(1,310
)
2,891

2,882

Preference share dividends
(367
)
—

—

—

—

(367
)
Earnings/(loss) attributable to common shareholders
2,515

(2,047
)
466

(1,310
)
2,891

2,515

Earnings/(loss)
2,882

(2,047
)
466

(1,310
)
3,342

3,333

Total other comprehensive income/(loss)
3,788

(9
)
28

556

(225
)
4,138

Comprehensive income/(loss)
6,670

(2,056
)
494

(754
)
3,117

7,471

Comprehensive income attributable to noncontrolling interests
—

—

—

—

(801
)
(801
)
Comprehensive income/(loss) attributable to controlling interests
6,670

(2,056
)
494

(754
)
2,316

6,670






Condensed Consolidating Statements of Earnings and Comprehensive Income for the year ended December 31, 2017
 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Operating revenues
 
 
 
 
 
 
Commodity sales
—

—

—

26,286

—

26,286

Gas distribution sales
—

—

—

4,215

—

4,215

Transportation and other services
—

—

—

13,877

—

13,877

Total operating revenues
—

—

—

44,378

—

44,378

Operating expenses
 
 
 
 
 
 
Commodity costs
—

—

—

26,065

—

26,065

Gas distribution costs
—

—

—

2,572

—

2,572

Operating and administrative
169

146

16

6,111

—

6,442

Depreciation and amortization
56

—

—

3,107

—

3,163

Impairment of long lived assets
—

—

—

4,463

—

4,463

Impairment of goodwill
—

—

—

102

—

102

Total operating expenses
225

146

16

42,420

—

42,807

Operating income/(loss)
(225
)
(146
)
(16
)
1,958

—

1,571

Income from equity investments
471

118

—

981

(468
)
1,102

Equity earnings from consolidated subsidiaries
2,130

752

926

881

(4,689
)
—

Other
 
 
 
 
 
 
Net foreign currency gain/(loss)
500

—

—

(22
)
(241
)
237

Gain/(loss) on dispositions
(11
)
—

—

27

—

16

Other, including other income/(expense) from affiliates
871

11

139

74

(896
)
199

Interest expense
(816
)
(221
)
(691
)
(1,753
)
925

(2,556
)
Earnings before income taxes
2,920

514

358

2,146

(5,369
)
569

Income tax (expense)/recovery
(61
)
—

9

2,706

43

2,697

Earnings
2,859

514

367

4,852

(5,326
)
3,266

Earnings attributable to noncontrolling interests and redeemable noncontrolling interests
—

—

—

—

(407
)
(407
)
Earnings attributable to controlling interests
2,859

514

367

4,852

(5,733
)
2,859

Preference share dividends
(330
)
—

—

—

—

(330
)
Earnings attributable to common shareholders
2,529

514

367

4,852

(5,733
)
2,529

Earnings
2,859

514

367

4,852

(5,326
)
3,266

Total other comprehensive income/(loss)
(2,031
)
12

204

(412
)
(51
)
(2,278
)
Comprehensive income
828

526

571

4,440

(5,377
)
988

Comprehensive income attributable to noncontrolling interests
—

—

—

—

(160
)
(160
)
Comprehensive income attributable to controlling interests
828

526

571

4,440

(5,537
)
828








Condensed Consolidating Statements of Financial Position as at December 31, 2019
 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Assets
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
Cash and cash equivalents
—

33

4

611

—

648

Restricted cash
9

—

—

19

—

28

Accounts receivable and other
429

8

4

6,340

—

6,781

Accounts receivable from affiliates
746

—

12

(164
)
(525
)
69

Short-term loans receivable from affiliates
1,691

—

3,961

4,417

(10,069
)
—

Inventory
—

—

—

1,299

—

1,299

 
2,875

41

3,981

12,522

(10,594
)
8,825

Property, plant and equipment, net
248

—

—

93,475

—

93,723

Long-term loans receivable from affiliates
47,285

73

2,387

35,672

(85,417
)
—

Investments in subsidiaries
80,456

18,956

5,180

14,782

(119,374
)
—

Long-term investments
1,701

932

—

14,467

(572
)
16,528

Restricted long-term investments
—

—

—

434

—

434

Deferred amounts and other assets
998

1

1

7,282

(849
)
7,433

Intangible assets, net
247

—

—

1,926

—

2,173

Goodwill
—

—

—

33,153

—

33,153

Deferred income taxes
486

—

—

514

—

1,000

Total assets
134,296

20,003

11,549

214,227

(216,806
)
163,269

 
 
 
 
 
 
 
Liabilities and equity
 
 
 
 
 
 
Current liabilities
 
 
 
 
 
 
Short-term borrowings
—

—

—

898

—

898

Accounts payable and other
2,765

28

1

7,745

(476
)
10,063

Accounts payable to affiliates
736

367

83

(640
)
(525
)
21

Interest payable
279

52

51

242

—

624

Short-term loans payable to affiliates
367

2,058

1,991

5,653

(10,069
)
—

Current portion of long-term debt
2,160

518

—

1,726

—

4,404

 
6,307

3,023

2,126

15,624

(11,070
)
16,010

Long-term debt
27,290

4,435

3,789

24,147

—

59,661

Other long-term liabilities
1,295

2

12

7,864

(849
)
8,324

Long-term loans payable to affiliates
33,686

—

3,112

48,619

(85,417
)
—

Deferred income taxes
—

271

—

13,887

(4,291
)
9,867

 
68,578

7,731

9,039

110,141

(101,627
)
93,862

Equity
 
 
 
 
 
 
Controlling interests1
65,718

12,272

2,510

104,086

(118,543
)
66,043

Noncontrolling interests
—

—

—

—

3,364

3,364

 
65,718

12,272

2,510

104,086

(115,179
)
69,407

Total liabilities and equity
134,296

20,003

11,549

214,227

(216,806
)
163,269

1 Equity attributable to controlling interests for parent issuer and guarantor excludes reciprocal shareholding balance included within consolidating and elimination adjustments.












Condensed Consolidating Statements of Financial Position as at December 31, 2018
 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Assets
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
Cash and cash equivalents
—

16

—

502

—

518

Restricted cash
9

—

—

110

—

119

Accounts receivable and other
283

15

8

6,211

—

6,517

Accounts receivable from affiliates
726

—

13

(142
)
(518
)
79

Short-term loans receivable from affiliates
3,943

—

3,689

653

(8,285
)
—

Inventory
—

—

—

1,339

—

1,339

 
4,961

31

3,710

8,673

(8,803
)
8,572

Property, plant and equipment, net
140

—

—

94,400

—

94,540

Long-term loans receivable from affiliates
10,318

73

2,539

1,344

(14,274
)
—

Investments in subsidiaries
78,474

19,777

6,363

15,567

(120,181
)
—

Long-term investments
4,561

987

—

14,841

(3,682
)
16,707

Restricted long-term investments
—

—

—

323

—

323

Deferred amounts and other assets
1,700

9

17

8,558

(1,726
)
8,558

Intangible assets, net
234

—

—

2,138

—

2,372

Goodwill
—

—

—

34,459

—

34,459

Deferred income taxes
817

—

—

229

328

1,374

Total assets
101,205

20,877

12,629

180,532

(148,338
)
166,905

 
 
 
 
 
 
 
Liabilities and equity
 
 
 
 
 
 
Current liabilities
 
 
 
 
 
 
Short-term borrowings
—

—

—

1,024

—

1,024

Accounts payable and other
2,742

7

34

7,059

(6
)
9,836

Accounts payable to affiliates
946

233

56

(677
)
(518
)
40

Interest payable
283

56

105

225

—

669

Short-term loans payable to affiliates
426

682

—

7,177

(8,285
)
—

Environmental liabilities, current
—

—

—

27

—

27

Current portion of long-term debt
1,853

—

683

723

—

3,259

 
6,250

978

878

15,558

(8,809
)
14,855

Long-term debt
22,893

7,276

6,943

23,215

—

60,327

Other long-term liabilities
2,428

2

30

8,100

(1,726
)
8,834

Long-term loans payable to affiliates
76

—

1,502

12,696

(14,274
)
—

Deferred income taxes
—

331

—

13,523

(4,400
)
9,454

 
31,647

8,587

9,353

73,092

(29,209
)
93,470

Equity
 
 
 
 
 
 
Controlling interests1
69,558

12,290

3,276

107,440

(123,094
)
69,470

Noncontrolling interests
—

—

—

—

3,965

3,965

 
69,558

12,290

3,276

107,440

(119,129
)
73,435

Total liabilities and equity
101,205

20,877

12,629

180,532

(148,338
)
166,905

1 Equity attributable to controlling interests for parent issuer and guarantor excludes reciprocal shareholding balance included within consolidating and elimination adjustments.












Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2019

 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Net cash provided by operating activities
2,246

1,676

(365
)
9,675

(3,834
)
9,398

Investing activities
 
 
 
 
 
 
Capital expenditures
(75
)
—

—

(5,417
)
—

(5,492
)
Long-term investments and restricted long-term investments
(26
)
(11
)
—

(1,122
)
—

(1,159
)
Distributions from equity investments in excess of cumulative earnings
—

24

1,196

393

(1,196
)
417

Additions to intangible assets
(68
)
—

—

(132
)
—

(200
)
Affiliate loans, net
—

—

—

(314
)
—

(314
)
Proceeds from disposition
—

—

—

2,110

—

2,110

Contributions to subsidiaries
(4,759
)
—

(12
)
—

4,771

—

Return of share capital from subsidiary companies
5,281

—

—

—

(5,281
)
—

Advances to affiliates
(50,897
)
—

(2,778
)
(60,787
)
114,462

—

Repayment of advances to affiliates
15,808

—

2,357

22,136

(40,301
)
—

Other
—

—

—

(20
)
—

(20
)
Net cash (used in)/provided by investing activities
(34,736
)
13

763

(43,153
)
72,455

(4,658
)
Financing activities
 
 
 
 
 
 
Net change in short-term borrowings
—

—

—

(127
)
—

(127
)
Net change in commercial paper and credit facility draws
3,158

(2,011
)
(1,017
)
695

—

825

Debenture and term note issues, net of issue costs
3,621

—

—

2,555

—

6,176

Debenture and term note repayments
(1,450
)
—

(2,514
)
(704
)
—

(4,668
)
Contributions from noncontrolling interests
—

—

—

—

12

12

Distributions to noncontrolling interests
—

—

—

—

(254
)
(254
)
Contributions from redeemable noncontrolling interests
—

—

—

—

—

—

Distributions to redeemable noncontrolling interests
—

—

—

—

—

—

Contributions from parents
—

—

—

4,771

(4,771
)
—

Distributions to parents
—

(1,014
)
(651
)
(8,888
)
10,553

—

Redemption of preferred shares
—

—

—

(300
)
—

(300
)
Common shares issued
18

—

—

—

—

18

Preference share dividends
(383
)
—

—

—

—

(383
)
Common share dividends
(5,973
)
—

—

—

—

(5,973
)
Advances from affiliates
46,860

5,678

8,249

53,675

(114,462
)
—

Repayment of advances from affiliates
(13,361
)
(4,321
)
(4,454
)
(18,165
)
40,301

—

Other
—

(4
)
(7
)
(60
)
—

(71
)
Net cash provided by/(used in) financing activities
32,490

(1,672
)
(394
)
33,452

(68,621
)
(4,745
)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash
—

—

—

44

—

44

Net increase/(decrease) in cash and cash equivalents and restricted cash
—

17

4

18

—

39

Cash and cash equivalents and restricted cash at beginning of year
9

16

—

612

—

637

Cash and cash equivalents and restricted cash at end of year
9

33

4

630

—

676



Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2018
 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Net cash provided by/(used in) operating activities
1,696

1,751

(239
)
11,683

(4,389
)
10,502

Investing activities
 
 
 
 
 
 
Capital expenditures
(28
)
—

—

(6,778
)
—

(6,806
)
Long-term investments and restricted long-term investments
(81
)
(12
)
—

(1,297
)
78

(1,312
)
Distributions from equity investments in excess of cumulative earnings
287

45

982

1,232

(1,269
)
1,277

Additions to intangible assets
(43
)
—

—

(497
)
—

(540
)
Proceeds from dispositions
1,790

—

—

2,662

—

4,452

Contributions to subsidiaries
(8,131
)
(79
)
(13
)
(1,655
)
9,878

—

Return of share capital from subsidiaries
3,753

—

—

—

(3,753
)
—

Advances to affiliates
(6,863
)
—

(1,703
)
(5,685
)
14,251

—

Repayment of advances to affiliates
9,427

518

1,504

4,124

(15,573
)
—

Affiliate loans, net
 
 
 
(76
)
 
(76
)
Other
—

—

—

(12
)
—

(12
)
Net cash provided by/(used in) investing activities
111

472

770

(7,982
)
3,612

(3,017
)
Financing activities
 
 
 
 
 
 
Net change in short-term borrowings
—

—

—

(420
)
—

(420
)
Net change in commercial paper and credit facility draws
(734
)
(962
)
(1,009
)
449

—

(2,256
)
Debenture and term note issues, net of issue costs
2,554

—

—

983

—

3,537

Debenture and term note repayments
—

(648
)
(509
)
(3,288
)
—

(4,445
)
Sale of noncontrolling interests in subsidiaries
—

—

—

—

1,289

1,289

Contributions from noncontrolling interests
—

—

—

—

24

24

Distributions to noncontrolling interests
—

—

—

—

(857
)
(857
)
Contributions from redeemable noncontrolling interests
—

—

—

—

70

70

Distributions to redeemable noncontrolling interests
—

—

—

—

(325
)
(325
)
Contributions from parents
—

—

1,007

8,223

(9,230
)
—

Distributions to parents
—

(1,902
)
(666
)
(6,564
)
9,132

—

Sponsored Vehicle buy-in cash payment
(64
)
—

—

—

—

(64
)
Redemption of preferred shares
—

—

—

(210
)
—

(210
)
Common shares issued
21

648

—

—

(648
)
21

Preference share dividends
(364
)
—

—

—

—

(364
)
Common share dividends
(3,480
)
—

—

—

—

(3,480
)
Advances from affiliates
710

1,474

3,501

8,566

(14,251
)
—

Repayment of advances from affiliates
(443
)
(826
)
(2,855
)
(11,449
)
15,573

—

Other
—

(5
)
—

(18
)
—

(23
)
Net cash (used in)/provided by financing activities
(1,800
)
(2,221
)
(531
)
(3,728
)
777

(7,503
)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash
—

—

—

68

—

68

Net increase in cash and cash equivalents and restricted cash
7

2

—

41

—

50

Cash and cash equivalents and restricted cash at beginning of year
2

14

—

571

—

587

Cash and cash equivalents and restricted cash at end of year
9

16

—

612

—

637


Condensed Consolidating Statements of Cash Flows for the year ended December 31, 2017
 
Parent Issuer and Guarantor
Subsidiary Issuer and Guarantor - SEP
Subsidiary Issuer and Guarantor - EEP
Subsidiary Non-Guarantors
Consolidating and elimination adjustments
 Consolidated - Enbridge
(millions of Canadian dollars)
 
 
 
 
 
 
Net cash (used in)/provided by operating activities
620

355

(695
)
9,654

(3,276
)
6,658

Investing activities
 
 
 
 
 
 
Capital expenditures
(21
)
—

—

(8,266
)
—

(8,287
)
Long-term investments and restricted long-term investments
(202
)
(51
)
—

(3,535
)
202

(3,586
)
Distributions from equity investments in excess of cumulative earnings
36

22

921

103

(957
)
125

Additions to intangible assets
(47
)
—

—

(742
)
—

(789
)
Cash acquired in Merger Transaction
—

—

—

682

—

682

Proceeds from dispositions
—

—

1,742

1,103

(2,217
)
628

Contributions to subsidiaries
(4,866
)
—

(2,056
)
—

6,922

—

Return of share capital from subsidiaries
2,192

—

1,532

—

(3,724
)
—

Advances to affiliates
(7,145
)
(519
)
(1,410
)
(3,020
)
12,094

—

Repayment of advances to affiliates
4,506

—

2,129

2,887

(9,522
)
—

Affiliate loans, net
—

—

—

(22
)
—

(22
)
Other
—

—

—

212

—

212

Net cash (used in)/provided by investing activities
(5,547
)
(548
)
2,858

(10,598
)
2,798

(11,037
)
Financing activities
 
 
 
 
 
 
Net change in short-term borrowings
—

—

—

721

—

721

Net change in commercial paper and credit facility draws
(1,845
)
1,965

(316
)
(1,053
)
—

(1,249
)
Debenture and term note issues, net of issue costs
8,177

519

—

787

—

9,483

Debenture and term note repayments
(1,711
)
(533
)
—

(2,810
)
—

(5,054
)
Purchase of interest in consolidated subsidiary
—

—

(475
)
(1,969
)
2,217

(227
)
Contributions from noncontrolling interests
—

—

—

—

832

832

Distributions to noncontrolling interests
—

—

—

—

(919
)
(919
)
Contributions from redeemable noncontrolling interests
563

—

—

—

615

1,178

Distributions to redeemable noncontrolling interests
—

—

—

—

(247
)
(247
)
Contributions from parents
—

—

—

6,922

(6,922
)
—

Distributions to parents
—

(1,987
)
(789
)
(6,093
)
8,869

—

Preference shares issued
489

—

—

—

—

489

Redemption of preferred shares
—

—

(1,613
)
1,613

—

—

Common shares issued
1,549

227

1,646

—

(1,873
)
1,549

Preference share dividends
(330
)
—

(478
)
—

478

(330
)
Common share dividends1
(2,336
)
—

—

(414
)
—

(2,750
)
Advances from affiliates
407

—

2,613

9,074

(12,094
)
—

Repayment of advances from affiliates
(40
)
—

(2,847
)
(6,635
)
9,522

—

Net cash provided by/(used in) financing activities
4,923

191

(2,259
)
143

478

3,476

Effect of translation of foreign denominated cash and cash equivalents and restricted cash
—

—

(2
)
(70
)
—

(72
)
Net decrease in cash and cash equivalents and restricted cash
(4
)
(2
)
(98
)
(871
)
—

(975
)
Cash and cash equivalents and restricted cash at beginning of year
6

16

98

1,442

—

1,562

Cash and cash equivalents and restricted cash at end of year
2

14

—

571

—

587

1 Common share dividends for the year ended December 31, 2017 includes amounts distributed by Spectra Energy Corp. related to dividends accrued prior to the Merger Transaction.