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REVENUES
 9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
REVENUE FROM CONTRACTS WITH CUSTOMERS
Major Products and Services
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesEliminations and OtherConsolidated
Three months ended
September 30, 2020
(millions of Canadian dollars)       
Transportation revenues2,234 1,077 128 — — — 3,439 
Storage and other revenues22 64 51 — — — 137 
Gas gathering and processing revenues
— 7 — — — — 7 
Gas distribution revenue— — 448 — — — 448 
Electricity and transmission revenues
— — — 46 — — 46 
Total revenue from contracts with customers
2,256 1,148 627 46 — — 4,077 
Commodity sales— — — — 4,595 — 4,595 
Other revenues1,2
360 14 (8)80 (3)(5)438 
Intersegment revenues157 — 2 — 4 (163)— 
Total revenues2,773 1,162 621 126 4,596 (168)9,110 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesEliminations and OtherConsolidated
Three months ended
September 30, 2019
(millions of Canadian dollars)       
Transportation revenues2,305 1,073 135 — — — 3,513 
Storage and other revenues31 69 48 — — — 148 
Gas gathering and processing revenues
— 98 — — — — 98 
Gas distribution revenues— — 470 — — — 470 
Electricity and transmission revenues
— — — 46 — — 46 
Total revenue from contracts with customers
2,336 1,240 653 46 — — 4,275 
Commodity sales— — — — 7,396 — 7,396 
Other revenues1,2
(156)23 (21)82 (1)— (73)
Intersegment revenues88 1 3 — 8 (100)— 
Total revenues2,268 1,264 635 128 7,403 (100)11,598 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesEliminations and OtherConsolidated
Nine months ended
September 30, 2020
(millions of Canadian dollars)       
Transportation revenues6,815 3,458 494 — — — 10,767 
Storage and other revenues72 209 154 — — — 435 
Gas gathering and processing revenues
— 19 — — — — 19 
Gas distribution revenue— — 2,551 — — — 2,551 
Electricity and transmission revenues
— — — 150 — — 150 
Total revenue from contracts with customers
6,887 3,686 3,199 150 — — 13,922 
Commodity sales— — — — 14,920 — 14,920 
Other revenues1,2
(59)35 (1)279 1 (18)237 
Intersegment revenues424 1 8 — 22 (455)— 
Total revenues7,252 3,722 3,206 429 14,943 (473)29,079 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesEliminations and OtherConsolidated
Nine months ended
September 30, 2019
(millions of Canadian dollars)       
Transportation revenues6,749 3,323 555 — — — 10,627 
Storage and other revenues83 168 154 — — — 405 
Gas gathering and processing revenues
— 329 — — — — 329 
Gas distribution revenues— — 3,080 — — — 3,080 
Electricity and transmission revenues
— — — 139 — — 139 
Commodity sales
— 3 — — — — 3 
Total revenue from contracts with customers
6,832 3,823 3,789 139 — — 14,583 
Commodity sales— — — — 22,441 — 22,441 
Other revenues1,2
383 43 5 278 (2)(14)693 
Intersegment revenues280 4 9 — 55 (348)— 
Total revenues7,495 3,870 3,803 417 22,494 (362)37,717 
1 Includes mark-to-market gains/(losses) from our hedging program for the three months ended September 30, 2020 and 2019 of $276 million gain and $236 million loss, respectively, and for the nine months ended September 30, 2020 and 2019 of $298 million loss and $148 million gain, respectively.
2 Includes revenues from lease contracts for the three months ended September 30, 2020 and 2019 of $144 million and $143 million, respectively, and for the nine months ended September 30, 2020 and 2019 of $459 million and $458 million, respectively.

We disaggregate revenues into categories which represent our principal performance obligations within each business segment because these revenue categories represent the most significant revenue streams in each segment and consequently are considered to be the most relevant revenue information for management to consider in evaluating performance.
Contract Balances
ReceivablesContract AssetsContract Liabilities
(millions of Canadian dollars)
Balance as at December 31, 20192,099 216 1,424 
Balance as at September 30, 20201,499 236 1,691 

Contract receivables represent the amount of receivables derived from contracts with customers.

Contract assets represent the amount of revenues which has been recognized in advance of payments received for performance obligations we have fulfilled (or partially fulfilled) and prior to the point in time at which our right to payment is unconditional. Amounts included in contract assets are transferred to accounts receivable when our right to receive the consideration becomes unconditional.

Contract liabilities represent payments received for performance obligations which have not been fulfilled. Contract liabilities primarily relate to make-up rights and deferred revenues. Revenue recognized during the three and nine months ended September 30, 2020 included in contract liabilities at the beginning of the period was $22 million and $129 million, respectively. Increases in contract liabilities from cash received, net of amounts recognized as revenues during the three and nine months ended September 30, 2020 were $189 million and $369 million, respectively.
Performance Obligations
There were no material revenues recognized in the three and nine months ended September 30, 2020 from performance obligations satisfied in previous periods.
Revenues to be Recognized from Unfulfilled Performance Obligations
Total revenues from performance obligations expected to be fulfilled in future periods is $63.0 billion, of which $1.8 billion and $6.6 billion is expected to be recognized during the three months ending December 31, 2020 and the year ending December 31, 2021, respectively.

The revenues excluded from the amounts above based on optional exemptions available under ASC 606, as explained below, represent a significant portion of our overall revenues and revenue from contracts with customers. Certain revenues such as flow-through operating costs charged to shippers are recognized at the amount for which we have the right to invoice our customers and are excluded from the amounts for revenues to be recognized in the future from unfulfilled performance obligations above. Variable consideration is excluded from the amounts above due to the uncertainty of the associated consideration, which is generally resolved when actual volumes and prices are determined. For example, we consider interruptible transportation service revenues to be variable revenues since volumes cannot be estimated. Additionally, the effect of escalation on certain tolls which are contractually escalated for inflation has not been reflected in the amounts above as it is not possible to reliably estimate future inflation rates. Revenues for periods extending beyond the current rate settlement term for regulated contracts where the tolls are periodically reset by the regulator are excluded from the amounts above since future tolls remain unknown. Finally, revenue from contracts with customers which have an original expected duration of one year or less are excluded from the amounts above.
Recognition and Measurement of Revenues
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesConsolidated
Three months ended
September 30, 2020
(millions of Canadian dollars)     
Revenues from products transferred at a point in time
— — 15 — — 15 
Revenues from products and services transferred over time1
2,256 1,148 612 46 — 4,062 
Total revenue from contracts with customers
2,256 1,148 627 46 — 4,077 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesConsolidated
Three months ended
September 30, 2019
(millions of Canadian dollars)
Revenues from products transferred at a point in time
— — 17 — — 17 
Revenues from products and services transferred over time1
2,336 1,240 636 46 — 4,258 
Total revenue from contracts with customers
2,336 1,240 653 46 — 4,275 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesConsolidated
Nine months ended
September 30, 2020
(millions of Canadian dollars)     
Revenues from products transferred at a point in time
— — 45 — — 45 
Revenues from products and services transferred over time1
6,887 3,686 3,154 150 — 13,877 
Total revenue from contracts with customers
6,887 3,686 3,199 150 — 13,922 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesConsolidated
Nine months ended
September 30, 2019
(millions of Canadian dollars)
Revenues from products transferred at a point in time
— 3 51 — — 54 
Revenues from products and services transferred over time1
6,832 3,820 3,738 139 — 14,529 
Total revenue from contracts with customers
6,832 3,823 3,789 139 — 14,583 
1  Revenues 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.