SEGMENTED INFORMATION

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

SEGMENTED INFORMATION

SEGMENTED INFORMATION

Change in Reportable Segments

Effective January 1, 2024, to better align how the CODM reviews operating performance and resource allocation across operating segments, we transferred our Canadian and United States (US) crude oil marketing businesses from the Energy Services segment to the Liquids Pipelines segment. As a result, the Energy Services segment ceased to exist and the remainder of the business, comprising natural gas and power marketing, is now reported in the Eliminations and Other segment. Beginning in the first quarter of 2024, prior period comparable results for segmented information have been recast to reflect the change in reportable segments. This segment reporting change does not have an impact on our consolidated results.

Three months ended September 30, 2024	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other1	Consolidated
(millions of Canadian dollars)
Operating revenues (Note 3)	11,775	1,486	1,281	133	207	14,882
Commodity and gas distribution costs	(8,624)	(29)	(203)	2	(212)	(9,066)
Operating and administrative	(1,104)	(536)	(579)	(74)	12	(2,281)
Income/(loss) from equity investments	261	182	—	39	(3)	479
Other income (Note 12)	17	43	23	2	291	376
Earnings before interest, income taxes and depreciation and amortization	2,325	1,146	522	102	295	4,390
Depreciation and amortization						(1,317)
Interest expense						(1,314)
Income tax expense						(312)
Earnings						1,447
Capital expenditures2	268	609	675	92	8	1,652

Three months ended September 30, 2023	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other1	Consolidated
(millions of Canadian dollars)
Operating revenues (Note 3)	7,355	1,423	751	40	275	9,844
Commodity and gas distribution costs	(4,344)	1	(190)	(13)	(285)	(4,831)
Operating and administrative	(1,093)	(578)	(305)	(63)	(16)	(2,055)
Income/(loss) from equity investments	232	94	—	21	(4)	343
Other income/(expense) (Note 12)	14	33	15	45	(572)	(465)
Earnings/(loss) before interest, income taxes and depreciation and amortization	2,164	973	271	30	(602)	2,836
Depreciation and amortization						(1,164)
Interest expense						(921)
Income tax expense						(128)
Earnings						623
Capital expenditures2	318	462	415	9	2	1,206

Nine months ended September 30, 2024	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other1	Consolidated
(millions of Canadian dollars)
Operating revenues (Note 3)	26,815	4,550	4,796	370	725	37,256
Commodity and gas distribution costs	(17,168)	(117)	(1,519)	1	(745)	(19,548)
Operating and administrative	(3,311)	(1,701)	(1,486)	(214)	(11)	(6,723)
Income/(loss) from equity investments	798	611	1	265	(11)	1,664
Gain on disposition of equity investments (Note 6)	—	1,063	—	28	—	1,091
Other income/(expense) (Note 12)	45	100	62	47	(460)	(206)
Earnings/(loss) before interest, income taxes and depreciation and amortization	7,179	4,506	1,854	497	(502)	13,534
Depreciation and amortization						(3,783)
Interest expense						(3,301)
Income tax expense						(1,437)
Earnings						5,013
Capital expenditures2	766	1,770	1,412	209	59	4,216

Nine months ended September 30, 2023	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other1	Consolidated
(millions of Canadian dollars)
Operating revenues (Note 3)	22,200	4,324	4,426	334	1,067	32,351
Commodity and gas distribution costs	(12,771)	1	(2,173)	(19)	(1,016)	(15,978)
Operating and administrative	(3,320)	(1,715)	(939)	(178)	32	(6,120)
Income/(loss) from equity investments	733	531	1	83	(10)	1,338
Other income/(expense) (Note 12)	102	79	39	75	(83)	212
Earnings/(loss) before interest, income taxes and depreciation and amortization	6,944	3,220	1,354	295	(10)	11,803
Depreciation and amortization						(3,447)
Interest expense						(2,709)
Income tax expense						(1,157)
Earnings						4,490
Capital expenditures2	835	1,332	1,025	77	54	3,323

1Includes operating revenues and commodity costs from our natural gas and power marketing subsidiaries for the three months ended September 30, 2024 of $213 million (2023 - $279 million) and $213 million (2023 - $292 million), respectively, and for the nine months ended September 30, 2024 of $750 million (2023 - $1.1 billion) and $757 million (2023 - $1.0 billion), respectively.

2Includes the equity component of the allowance for funds used during construction.