SEGMENTED INFORMATION

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENTED INFORMATION

SEGMENTED INFORMATION

Year ended December 31, 2024	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Total Reportable Segments
(millions of Canadian dollars)
Operating revenues1	38,183	6,199	7,542	514	52,438
Commodity and gas distribution costs	(25,283)	(130)	(2,501)	4	(27,910)
Operating and administrative	(4,495)	(2,322)	(2,276)	(304)	(9,397)
Impairment of long-lived assets	(2)	(162)	(3)	(23)	(190)
Income from equity investments	1,051	812	3	455	2,321
Gain on disposition of equity investments (Note 13)	—	1,063	—	28	1,091
Other income	77	196	104	59	436
Earnings before interest, income taxes and depreciation and amortization	9,531	5,656	2,869	733	18,789
Eliminations and Other					(1,904)
Depreciation and amortization					(5,167)
Interest expense (Note 17)					(4,419)
Earnings before income taxes					7,299

Year ended December 31, 2023	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Total Reportable Segments
(millions of Canadian dollars)
Operating revenues1	29,882	5,854	5,976	477	42,189
Commodity and gas distribution costs	(17,106)	(15)	(2,871)	(20)	(20,012)
Operating and administrative	(4,659)	(2,380)	(1,285)	(261)	(8,585)
Impairment of long-lived assets2	145	—	(281)	(283)	(419)
Income from equity investments	1,007	688	2	140	1,837
Other income	114	117	51	96	378
Earnings before interest, income taxes and depreciation and amortization	9,383	4,264	1,592	149	15,388
Eliminations and Other					916
Depreciation and amortization					(4,613)
Interest expense (Note 17)					(3,812)
Earnings before income taxes					7,879

Year ended December 31, 2022	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Total Reportable Segments
(millions of Canadian dollars)
Operating revenues1	37,174	5,426	6,729	582	49,911
Commodity and gas distribution costs	(25,495)	—	(3,693)	(16)	(29,204)
Operating and administrative	(4,318)	(2,254)	(1,289)	(255)	(8,116)
Impairment of long-lived assets	(258)	—	—	(235)	(493)
Impairment of goodwill	—	(2,465)	—	—	(2,465)
Income from equity investments	785	1,133	1	141	2,060
Gain on joint venture merger transaction (Note 13)	—	1,076	—	—	1,076
Other income	53	210	79	45	387
Earnings before interest, income taxes and depreciation and amortization	7,941	3,126	1,827	262	13,156
Eliminations and Other					(1,118)
Depreciation and amortization					(4,317)
Interest expense (Note 17)					(3,179)
Earnings before income taxes					4,542

1Refer to Note 4 - Revenue for a reconciliation of segment Operating revenues to the Consolidated Statements of Earnings.

2The Liquids Pipelines segment includes the impact of a gain resulting from the derecognition of a net regulatory liability due to the discontinuance of regulatory accounting for our Southern Lights Pipeline (Note 7).

Capital Expenditures1

Year ended December 31,	2024	2023	2022
(millions of Canadian dollars)
Liquids Pipelines	1,157	1,158	1,418
Gas Transmission	2,571	1,944	1,690
Gas Distribution and Storage	2,386	1,451	1,499
Renewable Power Generation	661	100	50
Eliminations and Other	59	55	33
	6,834	4,708	4,690

1Includes the equity component of the AFUDC.

Property, Plant and Equipment

Year ended December 31,	2024	2023	2022
(millions of Canadian dollars)
Liquids Pipelines	53,863	51,855	53,573
Gas Transmission	34,683	31,016	29,666
Gas Distribution and Storage	38,636	18,766	17,857
Renewable Power Generation	3,612	2,706	3,082
Eliminations and Other	310	298	282
	131,104	104,641	104,460

The measurement basis for preparation of segmented information is consistent with our significant accounting policies (Note 2).

GEOGRAPHIC INFORMATION

Revenues1

Year ended December 31,	2024	2023	2022
(millions of Canadian dollars)
Canada	22,001	23,781	27,498
US	31,472	19,868	25,811
	53,473	43,649	53,309

1Revenues are based on the country of origin of the product or service sold.

Property, Plant and Equipment1

December 31,	2024	2023
(millions of Canadian dollars)
Canada	48,873	48,570
US	82,231	56,071
	131,104	104,641

1Amounts are based on the location where the assets are held.