AQUISITIONS AND DISPOSITIONS

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

ACQUISITIONS AND DISPOSITIONS

ASSETS HELD FOR SALE

Line 10 Crude Oil Pipeline

In the first quarter of 2018, we satisfied the condition as set out in our agreements for the sale of our Line 10 crude oil pipeline (Line 10), which originates near Hamilton, Ontario and terminates at West Seneca, New York. Our subsidiaries, Enbridge Pipelines Inc. and EEP, own the Canadian and United States portions of Line 10, respectively, and the related assets are included in our Liquids Pipelines segment. Subject to certain regulatory approvals and customary closing conditions, the transaction is expected to close in 2020.

Montana-Alberta Tie Line

In the fourth quarter of 2019, we committed to a plan to sell the Montana-Alberta Tie Line transmission assets, a 345 kilometer transmission line from Great Falls, Montana to Lethbridge, Alberta. Its related assets are included in our Renewable Power Generation segment. The purchase and sale agreement was signed in January 2020. The transaction closed on May 1, 2020, please refer to Note 14. Subsequent Events.

Ozark Gas Transmission

In the first quarter of 2020, we agreed to sell our Ozark Gas Transmission and Ozark Gas Gathering assets (Ozark assets). The Ozark assets are composed of a 367 mile transmission system that extends from southeastern Oklahoma through Arkansas to southeastern Missouri, and a fee-based 330 mile gathering system that accesses Fayetteville Shale and Arkoma production. These assets are included in our Gas Transmission and Midstream segment. The transaction closed on April 1, 2020, please refer to Note 14. Subsequent Events.

Upon the reclassification and subsequent remeasurement of the Ozark assets as held for sale, a loss of $19 million was included within Operating and administrative expenses on the Consolidated Statements of Earnings for the three months ended March 31, 2020.

Summary of Assets Held for Sale

The table below summarizes the presentation of net assets held for sale in our Consolidated Statements of Financial Position:



	March 31, 2020		December 31, 2019
(millions of Canadian dollars)
Accounts receivable and other (current assets held for sale)	17		28
Deferred amounts and other assets (long-term assets held for sale)¹	330		269
Accounts payable and other (current liabilities held for sale)	(8	)	—
Net assets held for sale	339		297

Included within Deferred amounts and other assets at March 31, 2020 and December 31, 2019 is property, plant and equipment of $241 million and $181 million, respectively.