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REVENUES
 6 Months Ended
Jun. 30, 2021
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
June 30, 2021
(millions of Canadian dollars)       
Transportation revenue2,157 1,046 150 — — — 3,353 
Storage and other revenue37 63 51 — — — 151 
Gas gathering and processing revenue— 10 — — — — 10 
Gas distribution revenue— — 725 — — — 725 
Electricity and transmission revenue— — — 55 — — 55 
Total revenue from contracts with customers
2,194 1,119 926 55 — — 4,294 
Commodity sales— — — — 6,334 — 6,334 
Other revenue1,2
215 9 12 77 1 6 320 
Intersegment revenue138 — 15 — 10 (163)— 
Total revenue2,547 1,128 953 132 6,345 (157)10,948 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesEliminations and OtherConsolidated
Three months ended
June 30, 2020
(millions of Canadian dollars)       
Transportation revenue2,141 1,126 151 — — — 3,418 
Storage and other revenue24 66 56 — — — 146 
Gas gathering and processing revenue— 5 — — — — 5 
Gas distribution revenue— — 686 — — — 686 
Electricity and transmission revenue— — — 54 — — 54 
Total revenue from contracts with customers
2,165 1,197 893 54 — — 4,309 
Commodity sales— — — — 2,936 — 2,936 
Other revenue1,2
598 5 8 96 11 (7)711 
Intersegment revenue182 1 2 — 2 (187)— 
Total revenue2,945 1,203 903 150 2,949 (194)7,956 

Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesEliminations and OtherConsolidated
Six months ended
June 30, 2021
(millions of Canadian dollars)       
Transportation revenue4,486 2,167 366 — — — 7,019 
Storage and other revenue63 137 109 — — — 309 
Gas gathering and processing revenue— 17 — — — — 17 
Gas distribution revenue— — 2,259 — — — 2,259 
Electricity and transmission revenue— — — 81 — — 81 
Total revenue from contracts with customers
4,549 2,321 2,734 81 — — 9,685 
Commodity sales— — — — 12,763 — 12,763 
Other revenue1,2
427 21 18 168 1 2 637 
Intersegment revenue270 — 24 — 14 (308)— 
Total revenue5,246 2,342 2,776 249 12,778 (306)23,085 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Energy ServicesEliminations and OtherConsolidated
Six months ended
June 30, 2020
(millions of Canadian dollars)       
Transportation revenue4,581 2,381 366 — — — 7,328 
Storage and other revenue50 145 103 — — — 298 
Gas gathering and processing revenue— 12 — — — — 12 
Gas distribution revenue— — 2,103 — — — 2,103 
Electricity and transmission revenue— — — 104 — — 104 
Total revenue from contracts with customers
4,631 2,538 2,572 104 — — 9,845 
Commodity sales— — — — 10,325 — 10,325 
Other revenue1,2
(419)21 7 199 4 (13)(201)
Intersegment revenue267 1 6 — 18 (292)— 
Total revenue4,479 2,560 2,585 303 10,347 (305)19,969 
1 Includes mark-to-market gains from our hedging program for the three months ended June 30, 2021 and 2020 of $131 million and $531 million, respectively. For the six months ended June 30, 2021 and 2020, other revenue includes a $261 million mark-to-market gain and $575 million mark-to-market loss, respectively.
2 Includes revenues from lease contracts for the three months ended June 30, 2021 and 2020 of $143 million and $157 million, respectively and for the six months ended June 30, 2021 and 2020 of $302 million and $315 million, respectively.

We disaggregate revenues into categories which represent our principal performance obligations within each business segment. 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
Contract ReceivablesContract AssetsContract Liabilities
(millions of Canadian dollars)
Balance as at June 30, 20211,755 213 1,708 
Balance as at December 31, 20202,042 226 1,815 

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

Contract assets represent the amount of revenues which have 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 six months ended June 30, 2021 included in contract liabilities at the beginning of the period was $80 million and $225 million, respectively. Increases in contract liabilities from cash received, net of amounts recognized as revenues, during the three and six months ended June 30, 2021 were $76 million and $145 million, respectively.
Performance Obligations
There were no material revenues recognized in the three and six months ended June 30, 2021 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 $55.2 billion, of which $3.3 billion and $5.6 billion are expected to be recognized during the remaining six months ending December 31, 2021 and the year ending December 31, 2022, 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 Consolidated
Three months ended
June 30, 2021
(millions of Canadian dollars)    
Revenues from products transferred at a point in time
— — 17 — 17 
Revenues from products and services transferred over time1
2,194 1,119 909 55 4,277 
Total revenue from contracts with customers
2,194 1,119 926 55 4,294 

Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Consolidated
Three months ended
June 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
2,165 1,197 878 54 4,294 
Total revenue from contracts with customers
2,165 1,197 893 54 4,309 

Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Consolidated
Six months ended
June 30, 2021
(millions of Canadian dollars)    
Revenues from products transferred at a point in time
— — 34 — 34 
Revenues from products and services transferred over time1
4,549 2,321 2,700 81 9,651 
Total revenue from contracts with customers
4,549 2,321 2,734 81 9,685 
Liquids PipelinesGas Transmission and MidstreamGas Distribution and StorageRenewable Power Generation Consolidated
Six months ended
June 30, 2020
(millions of Canadian dollars)
Revenues from products transferred at a point in time
— — 30 — 30 
Revenues from products and services transferred over time1
4,631 2,538 2,542 104 9,815 
Total revenue from contracts with customers
4,631 2,538 2,572 104 9,845 
1     Includes 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.