SEGMENTED INFORMATION

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

SEGMENTED INFORMATION

4. SEGMENTED INFORMATION

Three months ended June 30, 2025	Liquids Pipelines			Gas Transmission			Gas Distribution and Storage			Renewable Power Generation			Total Reportable Segments
(millions of Canadian dollars)
Operating revenues1		10,837			1,604			2,016			145			14,602
Commodity and gas distribution costs		(7,741	)		(16	)		(553	)		1			(8,309	)
Operating and administrative		(1,032	)		(514	)		(688	)		(72	)		(2,306	)
Impairment of long-lived assets2		—			—			(330	)		—			(330	)
Income from equity investments		245			241			—			27			513
Other income		22			127			65			8			222
Earnings before interest, income taxes and depreciation and amortization		2,331			1,442			510			109			4,392
Eliminations and Other														1,167
Depreciation and amortization														(1,391	)
Interest expense														(1,181	)
Earnings before income taxes														2,987

Three months ended June 30, 2024	Liquids Pipelines			Gas Transmission			Gas Distribution and Storage			Renewable Power Generation			Total Reportable Segments
(millions of Canadian dollars)
Operating revenues1		8,158			1,492			1,384			106			11,140
Commodity and gas distribution costs		(4,909	)		(41	)		(312	)		2			(5,260	)
Operating and administrative		(1,100	)		(604	)		(528	)		(71	)		(2,303	)
Income from equity investments		284			164			1			45			494
Gain on disposition of equity investments (Note 6)		—			1,063			—			28			1,091
Other income		17			21			22			28			88
Earnings before interest, income taxes and depreciation and amortization		2,450			2,095			567			138			5,250
Eliminations and Other														(155	)
Depreciation and amortization														(1,273	)
Interest expense														(1,082	)
Earnings before income taxes														2,740

Six months ended June 30, 2025	Liquids Pipelines			Gas Transmission			Gas Distribution and Storage			Renewable Power Generation			Total Reportable Segments
(millions of Canadian dollars)
Operating revenues1		23,021			3,319			5,972			265			32,577
Commodity and gas distribution costs		(16,591	)		(27	)		(2,187	)		4			(18,801	)
Operating and administrative		(2,160	)		(1,038	)		(1,460	)		(150	)		(4,808	)
Impairment of long-lived assets2		—			—			(330	)		—			(330	)
Income from equity investments		613			473			1			159			1,246
Other income		41			188			114			54			397
Earnings before interest, income taxes and depreciation and amortization		4,924			2,915			2,110			332			10,281
Eliminations and Other														1,207
Depreciation and amortization														(2,799	)
Interest expense														(2,515	)
Earnings before income taxes														6,174

Six months ended June 30, 2024	Liquids Pipelines			Gas Transmission			Gas Distribution and Storage			Renewable Power Generation			Total Reportable Segments
(millions of Canadian dollars)
Operating revenues1		15,040			3,064			3,515			237			21,856
Commodity and gas distribution costs		(8,544	)		(88	)		(1,316	)		(1	)		(9,949	)
Operating and administrative		(2,207	)		(1,165	)		(907	)		(140	)		(4,419	)
Income from equity investments		537			429			1			226			1,193
Gain on disposition of equity investments (Note 6)		—			1,063			—			28			1,091
Other income		28			57			39			45			169
Earnings before interest, income taxes and depreciation and amortization		4,854			3,360			1,332			395			9,941
Eliminations and Other														(797	)
Depreciation and amortization														(2,466	)
Interest expense														(1,987	)
Earnings before income taxes														4,691

1Refer to Note 3 - Revenue for a reconciliation of segment Operating revenues to the Consolidated Statements of Earnings.

2The Gas Distribution and Storage segment includes the impact of an impairment recognized for certain rate-regulated assets related to pension and other disallowances as a result of the Public Utilities Commission of Ohio's (Ohio Commission) June 2025 order related to Enbridge Gas Ohio's rate case.

Capital Expenditures1

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
(millions of Canadian dollars)
Liquids Pipelines		284		209		593		498
Gas Transmission		691		666		1,295		1,161
Gas Distribution and Storage		735		433		1,396		737
Renewable Power Generation		214		48		359		117
Eliminations and Other		16		8		51		51
		1,940		1,364		3,694		2,564

1Capital expenditures are cash basis plus equity component of the allowance for funds used during construction.

Property, Plant and Equipment

	June 30, 2025		December 31, 2024
(millions of Canadian dollars)
Liquids Pipelines		51,835		53,863
Gas Transmission		33,981		34,683
Gas Distribution and Storage		38,261		38,636
Renewable Power Generation		3,781		3,612
Eliminations and Other		321		310
		128,179		131,104