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REVENUES
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenues
year ended December 31, 2022Canadian
Natural
Gas
Pipelines		U.S.
Natural
Gas
Pipelines		Mexico
Natural
Gas
Pipelines		Liquids PipelinesPower
and
Energy
 Solutions		Total
(millions of Canadian $)
Revenues from contracts with customers
Capacity arrangements and transportation4,696 4,621 507 1,983 — 11,807 
Power generation— — — — 490 490 
Natural gas storage and other1,2
68 1,298 54 4 391 1,815 
4,764 5,919 561 1,987 881 14,112 
Sales-type lease income3
— — 127 — — 127 
Other revenues4,5
— 14 — 681 43 738 
4,764 5,933 688 2,668 924 14,977 
1Includes $68 million of fee revenues from an affiliate related to development and construction of the Coastal GasLink pipeline project which is 35 per cent owned by TC Energy as at December 31, 2022. Refer to Note 30, Acquisitions and dispositions, for additional information.
2Includes $37 million of revenues generated from non-lease components for the provision of operating and maintenance services with respect to sales-type leases on the in-service TGNH pipelines. Refer to Note 10, Leases, for additional information.
3Represents the sales-type lease income on the in-service TGNH pipelines. Refer to Note 10, Leases, for additional information.
4Other revenues include income from the Company's operating lease arrangements, marketing activities and financial instruments. Refer to Note 10, Leases, and Note 28, Risk management and financial instruments, for additional information on income from operating lease arrangements and financial instruments, respectively.
5Other revenues from U.S. Natural Gas Pipelines include the amortization of the net regulatory liabilities resulting from H.R.1, the Tax Cuts and Jobs Act          (U.S. Tax Reform). Refer to Note 13, Rate-regulated businesses, for additional information.
year ended December 31, 2021Canadian
Natural
Gas
Pipelines		U.S.
Natural
Gas
Pipelines		Mexico
Natural
Gas
Pipelines		Liquids PipelinesPower
and
Energy Solutions		Total
(millions of Canadian $)
Revenues from contracts with customers
Capacity arrangements and transportation4,432 4,139 576 2,025 — 11,172 
Power generation— — — — 324 324 
Natural gas storage and other1
87 1,057 29 5 278 1,456 
4,519 5,196 605 2,030 602 12,952 
Other revenues2,3
— 37 — 276 122 435 
4,519 5,233 605 2,306 724 13,387 
1Includes $87 million of fee revenues from an affiliate related to development and construction of the Coastal GasLink pipeline project which is 35 per cent owned by TC Energy as at December 31, 2021. Refer to Note 30, Acquisitions and dispositions, for additional information.
2Other revenues include income from the Company's operating lease arrangements, marketing activities and financial instruments. Refer to Note 10, Leases, and Note 28, Risk management and financial instruments, for additional information on income from operating lease arrangements and financial instruments, respectively.
3Other revenues from U.S. Natural Gas Pipelines include the amortization of the net regulatory liabilities resulting from U.S. Tax Reform. Refer to Note 13, Rate-regulated businesses, for additional information.
year ended December 31, 2020Canadian
Natural
Gas
Pipelines		U.S.
Natural
Gas
Pipelines		Mexico
Natural
Gas
Pipelines		Liquids PipelinesPower
and
Energy Solutions		Total
(millions of Canadian $)
Revenues from contracts with customers
Capacity arrangements and transportation4,408 4,301 607 2,206 — 11,522 
Power generation— — — — 192 192 
Natural gas storage and other1
61 654 109 3 106 933 
4,469 4,955 716 2,209 298 12,647 
Other revenues2,3
— 76 — 162 114 352 
4,469 5,031 716 2,371 412 12,999 
1Includes $138 million of fee revenues from affiliates, of which $77 million was related to the construction of the Sur de Texas pipeline which is 60 per cent owned by TC Energy and $61 million was related to development and construction of the Coastal GasLink pipeline project which is 35 per cent owned by TC Energy as at December 31, 2020. Refer to Note 30, Acquisitions and dispositions, for additional information.
2Other revenues include income from the Company's operating lease arrangements, marketing activities and financial instruments. Refer to Note 10, Leases, and Note 28, Risk management and financial instruments, for additional information on income from operating lease arrangements and financial instruments, respectively.
3Other revenues from U.S. Natural Gas Pipelines include the amortization of the net regulatory liabilities resulting from U.S. Tax Reform. Refer to Note 13, Rate-regulated businesses, for additional information.
Contract Balances
at December 3120222021Affected line item on the
Consolidated balance sheet
(millions of Canadian $)
Receivables from contracts with customers1,907 1,627 Accounts receivable
Contract assets (Note 8)
155 202 Other current assets
Long-term contract assets (Note 15)
355 249 Other long-term assets
Contract liabilities1 (Note 17)
62 90 Accounts payable and other
Long-term contract liabilities (Note 18)
32 184 Other long-term liabilities
1During the year ended December 31, 2022, $51 million (2021 – $95 million) of revenues were recognized that were included in contract liabilities at the beginning of the year.
Contract assets and long-term contract assets primarily relate to the Company’s right to revenues for services completed but not invoiced at the reporting date on long-term committed capacity natural gas pipelines contracts. The change in contract assets is primarily related to the transfer to Accounts receivable when these rights become unconditional and the customer is invoiced, as well as the recognition of additional revenues that remain to be invoiced. Contract liabilities and long-term contract liabilities primarily represent unearned revenue for contracted services. In the prior year, contract liabilities and long-term contract liabilities primarily related to force majeure fixed capacity payments received on long-term capacity arrangements in Mexico. During the year ended December 31, 2022, and under the terms of the consolidated Transportation Service Agreement (TSA), the contract liability relating to the in-service TGNH pipelines was netted against certain contract asset balances and settled against the initial recording of the net investment in leases on the Consolidated balance sheet.
Future Revenues from Remaining Performance Obligations
As at December 31, 2022, future revenues from long-term pipeline capacity arrangements and transportation as well as natural gas storage and other contracts extending through 2055 are approximately $23.3 billion, of which approximately $3.8 billion is expected to be recognized in 2023.
A significant portion of the Company's revenues are considered constrained and therefore not included in the future revenue amounts above as the Company uses the following practical expedients:
•right to invoice practical expedient – applied to all U.S. and certain Mexico rate-regulated natural gas pipeline capacity arrangements and flow-through revenues
•variable consideration practical expedient – applied to the following variable revenues:
◦interruptible transportation service revenues as volumes cannot be estimated
◦liquids pipelines capacity revenues based on volumes transported
◦power generation revenues related to market prices that are subject to factors outside the Company's influence
•contracts for a duration of one year or less.
In addition, future revenues from the Company's Canadian natural gas pipelines' regulated firm capacity contracts include fixed revenues only for the time periods that approved tolls under current rate settlements are in effect and certain. Future revenues exclude lease income from the Company's Mexico natural gas pipelines on projects that have not been placed into service.