ENBRIDGE INC [EBRGF] Filings

10-Q 1 enb-20240630.htm 10-Q enb-20240630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM			10-Q


☒						QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024


☐						TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-15254

_______________________________


ENBRIDGE INC.
(Exact Name of Registrant as Specified in Its Charter)


Canada						98-0377957
(State or Other Jurisdiction of Incorporation or Organization)						(I.R.S. Employer Identification No.)

200, 425 - 1st Street S.W.

Calgary, Alberta, Canada T2P 3L8

(Address of Principal Executive Offices) (Zip Code)

(403) 231-3900

(Registrant’s Telephone Number, Including Area Code)

_______________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares

ENB

New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x

The registrant had 2,177,417,976 common shares outstanding as at July 26, 2024.


	PART I	PAGE

Item 1.	Financial Statements	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	41
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	64
Item 4.	Controls and Procedures	65

	PART II

Item 1.	Legal Proceedings	66
Item 1A.	Risk Factors	66
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	66
Item 3.	Defaults Upon Senior Securities	66
Item 4.	Mine Safety Disclosures	66
Item 5.	Other Information	67
Item 6.	Exhibits	67
	Signatures	68

GLOSSARY


"we", "our", "us" and "Enbridge"			Enbridge Inc.
AG			Attorney General
Aitken Creek			Aitken Creek Gas Storage Facility
AOCI			Accumulated other comprehensive income/(loss)



CER			Canada Energy Regulator



EBITDA			Earnings before interest, income taxes and depreciation and amortization

EEP			Enbridge Energy Partners, L.P.





Enbridge Gas Ontario			Enbridge Gas Inc.

EOG			The East Ohio Gas Company

Exchange Act			United States Securities Exchange Act of 1934, as amended




LNG			Liquefied natural gas








MPLX			MPLX LP




NRGreen			NRGreen Power Limited Partnership
OCI			Other comprehensive income/(loss)

OEB			Ontario Energy Board
OPEB			Other postretirement benefits



Pembina			Pembina Pipeline Corporation
Phase 1 Decision			The Ontario Energy Board's Decision and Order on December 21, 2023, on Phase 1 of Enbridge Gas Inc.'s application to establish a 2024 through 2028 Incentive Regulation rate setting framework
Questar			Questar Gas Company

SEP			Spectra Energy Partners, LP
Texas Eastern			Texas Eastern Transmission, LP





the Acquisitions			Enbridge Inc.'s acquisitions of three US gas utilities from Dominion Energy, Inc.
the ATM Program			The at-the-market equity issuance program





the EOG Acquisition			Enbridge Inc.'s acquisition of all of the outstanding shares of capital stock of The East Ohio Gas Company on March 6, 2024

the Partnerships			Spectra Energy Partners, LP and Enbridge Energy Partners, L.P.
the Questar Acquisition			Enbridge Inc.'s acquisition of all of the membership interests of Fall West Holdco LLC which owns 100% of Questar Gas Company and its related Wexpro companies on May 31, 2024


the Whistler Parent JV			The joint venture formed by Enbridge Inc., WhiteWater/I Squared Capital and MPLX LP on May 29, 2024
Tomorrow RNG			Six Morrow Renewables operating landfill gas-to-renewable natural gas production facilities

US			United States of America

Wexpro			Wexpro Company and its consolidated subsidiaries

CONVENTIONS

The terms "we", "our", "us" and "Enbridge" as used in this report refer collectively to Enbridge Inc. and its subsidiaries unless the context suggests otherwise. These terms are used for convenience only and are not intended as a precise description of any separate legal entity within Enbridge.

Unless otherwise specified, all dollar amounts are expressed in Canadian dollars, all references to "dollars" or "$" are to Canadian dollars and all references to "US$" are to United States (US) dollars. All amounts are provided on a before-tax basis, unless otherwise stated.

FORWARD-LOOKING INFORMATION

Forward-looking information, or forward-looking statements, have been included in this quarterly report on Form 10-Q to provide information about us and our subsidiaries and affiliates, including management’s assessment of our and our subsidiaries’ future plans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as "anticipate", "believe", "estimate", "expect", "forecast", "intend", "likely", "plan", "project", "target" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included or incorporated by reference in this document include, but are not limited to, statements with respect to the following: our corporate vision and strategy, including strategic priorities and enablers; expected supply of, demand for, exports of and prices of crude oil, natural gas, natural gas liquids (NGL), liquefied natural gas (LNG), renewable natural gas (RNG) and renewable energy; energy transition and lower-carbon energy, and our approach thereto; environmental, social and governance goals, practices and performance; industry and market conditions; anticipated utilization of our assets; dividend growth and payout policy; financial strength and flexibility; expectations on sources of liquidity and sufficiency of financial resources; expected strategic priorities and performance of the Liquids Pipelines, Gas Transmission, Gas Distribution and Storage and Renewable Power Generation businesses; the characteristics, anticipated benefits, financing and timing of our acquisitions and other transactions, including the acquisitions of three US gas utilities (Gas Utilities) from Dominion Energy, Inc. (the Acquisitions); expected costs, benefits and in-service dates related to announced projects and projects under construction; expected capital expenditures; investable capacity and capital allocation priorities; expected equity funding requirements for our commercially secured growth program; expected future growth, development and expansion opportunities; expected optimization and efficiency opportunities; expectations about our joint venture partners’ ability to complete and finance projects under construction; our ability to complete the remaining acquisition of Public Service Company of North Carolina, Incorporated (the PSNC Acquisition) and successfully integrate the Gas Utilities; expected closing of other acquisitions and dispositions and the timing thereof, including the remaining PSNC Acquisition; expected future actions of regulators and courts, and the timing and impact thereof; toll and rate cases discussions and proceedings and anticipated timeline and impact therefrom, including those relating to the Gas Transmission and Gas Distribution and Storage businesses; operational, industry, regulatory, climate change and other risks associated with our businesses; and our assessment of the potential impact of the various risk factors identified herein.

Although we believe these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Material assumptions include assumptions about the following: the expected supply of, demand for, export of and prices of crude oil, natural gas, NGL, LNG, RNG and renewable energy; anticipated utilization of assets; exchange rates; inflation; interest rates; availability and price of labor and construction materials; the stability of our supply chain; operational reliability; maintenance of support and regulatory approvals for our projects and transactions; anticipated in-service dates; weather; the timing, terms and closing of acquisitions and dispositions, including the remaining PSNC Acquisition; the realization of anticipated benefits of transactions, including the Acquisitions; governmental legislation; litigation; estimated future dividends and impact of our dividend policy on our future cash flows; our credit ratings; capital project funding; hedging program; expected earnings before interest, income taxes and depreciation and amortization (EBITDA); expected earnings/(loss); expected future cash flows; and expected distributable cash flow. Assumptions regarding the expected supply of and demand for crude oil, natural gas, NGL, LNG, RNG and renewable energy, and the prices of these commodities, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for our services. Similarly, exchange rates, inflation and interest rates impact the economies and business environments in which we

operate and may impact levels of demand for our services and cost of inputs, and are therefore inherent in all forward-looking statements. The most relevant assumptions associated with forward-looking statements regarding announced projects and projects under construction, including estimated completion dates and expected capital expenditures, include the following: the availability and price of labor and construction materials; the stability of our supply chain; the effects of inflation and foreign exchange rates on labor and material costs; the effects of interest rates on borrowing costs; and the impact of weather and customer, government, court and regulatory approvals on construction and in-service schedules and cost recovery regimes.

Our forward-looking statements are subject to risks and uncertainties pertaining to the successful execution of our strategic priorities; operating performance; legislative and regulatory parameters; litigation; acquisitions (including the Acquisitions), dispositions and other transactions and the realization of anticipated benefits therefrom; operational dependence on third parties; dividend policy; project approval and support; renewals of rights-of-way; weather; economic and competitive conditions; public opinion; changes in tax laws and tax rates; exchange rates; inflation; interest rates; commodity prices; access to and cost of capital; political decisions; global geopolitical conditions; and the supply of, demand for and prices of commodities and other alternative energy, including but not limited to, those risks and uncertainties discussed in this quarterly report on Form 10-Q and in our other filings with Canadian and US securities regulators. The impact of any one assumption, risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and our future course of action depends on management’s assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statement made in this quarterly report on Form 10-Q or otherwise, whether as a result of new information, future events or otherwise. All forward-looking statements, whether written or oral, attributable to us or persons acting on our behalf, are expressly qualified in their entirety by these cautionary statements.

NON-GAAP AND OTHER FINANCIAL MEASURES

Part I. Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) in this quarterly report on Form 10-Q makes reference to non-GAAP and other financial measures, including EBITDA. EBITDA is defined as earnings before interest, income taxes and depreciation and amortization. Management uses EBITDA to assess performance of Enbridge and to set targets. Management believes the presentation of EBITDA gives useful information to investors as it provides increased transparency and insight into the performance of Enbridge.

The non-GAAP and other financial measures are not measures that have a standardized meaning prescribed by the accounting principles generally accepted in the United States of America (US GAAP) and are not US GAAP measures. Therefore, these measures may not be comparable with similar measures presented by other issuers. A reconciliation of historical non-GAAP and other financial measures to the most directly comparable GAAP measures is set out in this MD&A and is available on our website. Additional information on non-GAAP and other financial measures may be found on our website, www.sedarplus.ca or www.sec.gov.

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

ENBRIDGE INC.

CONSOLIDATED STATEMENTS OF EARNINGS


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
(unaudited; millions of Canadian dollars, except per share amounts)
Operating revenues
Commodity sales	5,291	4,679	9,436	9,462
Gas distribution sales	780	792	2,479	3,071
Transportation and other services	5,265	4,961	10,459	9,974
Total operating revenues (Note 3)	11,336	10,432	22,374	22,507
Operating expenses
Commodity costs	5,173	4,549	9,179	9,185
Gas distribution costs	309	368	1,303	1,962
Operating and administrative	2,308	2,028	4,442	4,065
Depreciation and amortization	1,273	1,137	2,466	2,283

Total operating expenses	9,063	8,082	17,390	17,495
Operating income	2,273	2,350	4,984	5,012
Income from equity investments	489	478	1,185	995

Gain on disposition of equity investments (Note 6)	1,091	—	1,091	—
Other income/(expense) (Note 12)	(31)	575	(582)	677
Interest expense	(1,082)	(883)	(1,987)	(1,788)
Earnings before income taxes	2,740	2,520	4,691	4,896
Income tax expense	(739)	(519)	(1,125)	(1,029)
Earnings	2,001	2,001	3,566	3,867
Earnings attributable to noncontrolling interests	(58)	(66)	(111)	(115)
Earnings attributable to controlling interests	1,943	1,935	3,455	3,752
Preference share dividends	(95)	(87)	(188)	(171)
Earnings attributable to common shareholders	1,848	1,848	3,267	3,581
Earnings per common share attributable to common shareholders (Note 5)	0.86	0.91	1.53	1.77
Diluted earnings per common share attributable to common shareholders (Note 5)	0.86	0.91	1.53	1.77

The accompanying notes are an integral part of these interim consolidated financial statements.

ENBRIDGE INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
(unaudited; millions of Canadian dollars)
Earnings	2,001	2,001	3,566	3,867
Other comprehensive income/(loss), net of tax
Change in unrealized gain on cash flow hedges	12	166	128	121
Change in unrealized gain/(loss) on net investment hedges	(161)	385	(538)	400
Other comprehensive income from equity investees	2	—	1	—
Excluded components of fair value hedges	—	2	4	9
Reclassification to earnings of loss on cash flow hedges	9	12	9	19
Reclassification to earnings of pension and other postretirement benefits (OPEB) amounts	(5)	(4)	(9)	(8)

Foreign currency translation adjustments	727	(1,458)	2,385	(1,517)
Other comprehensive income/(loss), net of tax	584	(897)	1,980	(976)
Comprehensive income	2,585	1,104	5,546	2,891
Comprehensive income attributable to noncontrolling interests	(72)	(34)	(160)	(98)
Comprehensive income attributable to controlling interests	2,513	1,070	5,386	2,793
Preference share dividends	(95)	(87)	(188)	(171)
Comprehensive income attributable to common shareholders	2,418	983	5,198	2,622

The accompanying notes are an integral part of these interim consolidated financial statements.

ENBRIDGE INC.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
(unaudited; millions of Canadian dollars, except per share amounts)
Preference shares


Balance at beginning and end of period	6,818	6,818	6,818	6,818
Common shares
Balance at beginning of period	69,201	64,774	69,180	64,760
Shares issued, net of issue costs (Note 8)	2,489	—	2,489	—
Shares issued on exercise of stock options	1	—	5	2
Shares issued on vesting of restricted stock units (RSU), net of tax	7	—	24	12
Share repurchases at stated value	—	(80)	—	(80)

Balance at end of period	71,698	64,694	71,698	64,694
Additional paid-in capital
Balance at beginning of period	274	274	268	275
Stock-based compensation	21	18	53	38
Stock options exercised	(1)	(1)	(5)	(2)
Vested RSUs	(22)	—	(44)	(20)


Balance at end of period	272	291	272	291
Deficit
Balance at beginning of period	(15,696)	(13,753)	(17,115)	(15,486)
Earnings attributable to controlling interests	1,943	1,935	3,455	3,752
Preference share dividends	(95)	(87)	(188)	(171)
Common share dividends declared	(1,946)	(1,796)	(1,946)	(1,796)

Share repurchases in excess of stated value	—	(45)	—	(45)

Balance at end of period	(15,794)	(13,746)	(15,794)	(13,746)
Accumulated other comprehensive income (Note 9)
Balance at beginning of period	3,664	3,426	2,303	3,520
Other comprehensive income/(loss) attributable to common shareholders, net of tax	570	(865)	1,931	(959)
Balance at end of period	4,234	2,561	4,234	2,561




Total Enbridge Inc. shareholders’ equity	67,228	60,618	67,228	60,618
Noncontrolling interests
Balance at beginning of period	3,042	3,486	3,029	3,511
Earnings attributable to noncontrolling interests	58	66	111	115
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax
Change in unrealized gain on cash flow hedges	2	1	8	18
Foreign currency translation adjustments	12	(33)	41	(35)
	14	(32)	49	(17)
Comprehensive income attributable to noncontrolling interests	72	34	160	98
Distributions	(89)	(103)	(167)	(195)
Contributions	—	4	2	8

Other	—	(1)	1	(2)
Balance at end of period	3,025	3,420	3,025	3,420
Total equity	70,253	64,038	70,253	64,038
Dividends paid per common share	0.92	0.89	1.84	1.78

The accompanying notes are an integral part of these interim consolidated financial statements.

ENBRIDGE INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS


	Six months ended June 30,
	2024	2023
(unaudited; millions of Canadian dollars)
Operating activities
Earnings	3,566	3,867
Adjustments to reconcile earnings to net cash provided by operating activities:
Depreciation and amortization	2,466	2,283
Deferred income tax expense	613	919
Unrealized derivative fair value loss/(gain), net (Note 10)	923	(1,135)
Income from equity investments	(1,185)	(995)
Distributions from equity investments	1,037	1,066


Gain on disposition of equity investments	(1,091)	—

Other	143	72
Changes in operating assets and liabilities	(507)	1,228
Net cash provided by operating activities	5,965	7,305
Investing activities
Capital expenditures	(2,533)	(2,093)
Long-term, restricted and other investments	(1,294)	(472)
Distributions from equity investments in excess of cumulative earnings	463	752
Additions to intangible assets	(93)	(104)
Acquisitions	(10,454)	(487)
Proceeds from disposition of equity investments	2,724	—

Net change in affiliate loans	—	71
Other	(43)	—
Net cash used in investing activities	(11,230)	(2,333)
Financing activities
Net change in short-term borrowings	(200)	(1,148)
Net change in commercial paper and credit facility draws	2,963	(2,847)
Debenture and term note issues, net of issue costs	6,348	5,598
Debenture and term note repayments	(4,561)	(2,281)
Contributions from noncontrolling interests	2	8
Distributions to noncontrolling interests	(167)	(195)
Common shares issued, net of issue costs	2,485	—
Common shares repurchased	—	(125)
Preference share dividends	(188)	(171)
Common share dividends	(3,890)	(3,595)

Net change in affiliate loans	15	50
Other	(20)	(64)
Net cash provided by/(used in) financing activities	2,787	(4,770)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash	192	(19)
Net change in cash and cash equivalents and restricted cash	(2,286)	183
Cash and cash equivalents and restricted cash at beginning of period	5,985	907
Cash and cash equivalents and restricted cash at end of period	3,699	1,090

The accompanying notes are an integral part of these interim consolidated financial statements.

ENBRIDGE INC.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION


	June 30, 2024	December 31, 2023
(unaudited; millions of Canadian dollars; number of shares in millions)
Assets
Current assets
Cash and cash equivalents	3,586	5,901
Restricted cash	113	84
Trade receivables and unbilled revenues	4,714	4,410
Other current assets	2,586	2,440
Accounts receivable from affiliates	138	85
Inventory	1,362	1,479
	12,499	14,399
Property, plant and equipment, net	120,288	104,641
Long-term investments	18,228	16,793
Restricted long-term investments	756	717
Deferred amounts and other assets	10,204	8,041
Intangible assets, net	4,505	3,537
Goodwill	34,316	31,848
Deferred income taxes	467	341
Total assets	201,263	180,317

Liabilities and equity
Current liabilities
Short-term borrowings	200	400
Trade payables and accrued liabilities	4,568	4,308
Other current liabilities	3,752	5,659
Accounts payable to affiliates	17	26
Interest payable	1,082	958
Current portion of long-term debt	6,711	6,084
	16,330	17,435
Long-term debt	85,181	74,715
Other long-term liabilities	11,586	8,653
Deferred income taxes	17,913	15,031
	131,010	115,834
Contingencies (Note 13)
Equity
Share capital
Preference shares	6,818	6,818
Common shares (2,177 and 2,125 outstanding at June 30, 2024 and December 31, 2023, respectively)	71,698	69,180
Additional paid-in capital	272	268
Deficit	(15,794)	(17,115)
Accumulated other comprehensive income (Note 9)	4,234	2,303

Total Enbridge Inc. shareholders’ equity	67,228	61,454
Noncontrolling interests	3,025	3,029
	70,253	64,483
Total liabilities and equity	201,263	180,317

The accompanying notes are an integral part of these interim consolidated financial statements.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

1. BASIS OF PRESENTATION

The accompanying unaudited interim consolidated financial statements of Enbridge Inc. ("we", "our", "us" and "Enbridge") have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP) and Regulation S-X for interim consolidated financial information. They do not include all of the information and notes required by US GAAP for annual consolidated financial statements and should therefore be read in conjunction with our audited consolidated financial statements and notes for the year ended December 31, 2023. In the opinion of management, the interim consolidated financial statements contain all normal recurring adjustments necessary to present fairly our financial position, results of operations and cash flows for the interim periods reported. These interim consolidated financial statements follow the same significant accounting policies as those included in our audited consolidated financial statements for the year ended December 31, 2023. Amounts are stated in Canadian dollars unless otherwise noted.

Our operations and earnings for interim periods can be affected by seasonal fluctuations within the gas distribution utility businesses, as well as other factors such as supply of and demand for crude oil and natural gas, and may not be indicative of annual results. Our current year earnings are also impacted by the effect of acquisitions and dispositions, if any, occurring during the remaining six months period ending December 31, 2023.

Certain comparative figures in our interim consolidated financial statements have been reclassified to conform to the current year's presentation.

2. CHANGES IN ACCOUNTING POLICIES

FUTURE ACCOUNTING POLICY CHANGES

Segment Reporting

Accounting Standards Update (ASU) 2023-07 was issued in November 2023 to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and to require in interim period financial statements all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The new ASU requires entities to disclose the title and position of the individual or the name of the group or committee identified as the chief operating decision-maker (CODM). ASU 2023-07 is effective January 1, 2024, with interim period disclosure requirements effective after January 1, 2025 and should be applied retrospectively to all prior periods presented in the financial statements. We are currently assessing the impact of the new standard on our annual disclosures for the year ending December 31, 2024 and on our interim financial statement disclosures beginning in 2025.

Income Tax Disclosures

ASU 2023-09 was issued in December 2023 to improve income tax disclosures by requiring specified categories in the annual rate reconciliation that meet quantitative thresholds and further disaggregation on income taxes paid by jurisdiction. ASU 2023-09 is effective January 1, 2025 and should be applied prospectively, with retrospective application being permitted. We are currently assessing the impact of the new standard on our consolidated financial statements.

3. REVENUE

REVENUE FROM CONTRACTS WITH CUSTOMERS

Major Products and Services


Three months ended June 30, 2024	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other	Consolidated
(millions of Canadian dollars)
Transportation revenue	2,986	1,290	469	—	—	4,745
Storage and other revenue	65	135	127	—	—	327

Gas distribution revenue	—	—	773	—	—	773
Electricity revenue	—	—	—	44	—	44
Commodity sales	—	38	—	—	—	38
Total revenue from contracts with customers	3,051	1,463	1,369	44	—	5,927
Commodity sales	5,036	11	—	—	206	5,253
Other revenue1,2	71	13	13	59	—	156
Intersegment revenue	—	5	2	3	(10)	—
Total revenue	8,158	1,492	1,384	106	196	11,336


Three months ended June 30, 2023	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other	Consolidated
(millions of Canadian dollars)
Transportation revenue	3,002	1,290	169	—	—	4,461
Storage and other revenue	62	113	85	—	—	260

Gas distribution revenue	—	—	796	—	—	796
Electricity revenue	—	—	—	75	—	75

Total revenue from contracts with customers	3,064	1,403	1,050	75	—	5,592
Commodity sales	4,404	—	—	—	275	4,679
Other revenue1,2	79	7	(1)	76	—	161
Intersegment revenue	—	—	1	(1)	—	—
Total revenue	7,547	1,410	1,050	150	275	10,432


Six months ended June 30, 2024	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other	Consolidated
(millions of Canadian dollars)
Transportation revenue	6,010	2,631	820	—	—	9,461
Storage and other revenue	127	273	226	—	—	626

Gas distribution revenue	—	—	2,439	—	—	2,439
Electricity revenue	—	—	—	101	—	101
Commodity sales	—	78	—	—	—	78
Total revenue from contracts with customers	6,137	2,982	3,485	101	—	12,705
Commodity sales	8,769	52	—	—	537	9,358
Other revenue1,2	134	19	26	132	—	311
Intersegment revenue	—	11	4	4	(19)	—
Total revenue	15,040	3,064	3,515	237	518	22,374

Six months ended June 30, 2023	Liquids Pipelines	Gas Transmission	Gas Distribution and Storage	Renewable Power Generation	Eliminations and Other	Consolidated
(millions of Canadian dollars)
Transportation revenue	5,944	2,674	445	—	—	9,063
Storage and other revenue	126	208	184	—	—	518

Gas distribution revenue	—	—	3,083	—	—	3,083
Electricity revenue	—	—	—	141	—	141

Total revenue from contracts with customers	6,070	2,882	3,712	141	—	12,805
Commodity sales	8,666	—	—	—	796	9,462
Other revenue1,2	109	18

ENBRIDGE INC [EBRGF] Filings
ENBRIDGE INC [ENB] Filings
ENBRIDGE INC [EBBNF] Filings
ENBRIDGE INC [ENBNF] Filings
ENBRIDGE INC [ENBHF] Filings
ENBRIDGE INC [ENBMF] Filings
ENBRIDGE INC [ENBOF] Filings
ENBRIDGE INC [EBRZF] Filings
ENBRIDGE INC [EBGEF] Filings
ENBRIDGE INC [ENBFF] Filings
ENBRIDGE INC [ENBGF] Filings
ENBRIDGE INC [ENBRF] Filings
ENBRIDGE INC [ENNPF] Filings
ENBRIDGE INC [EBBGF] Filings
10-Q	[2024-08-02]
10-Q	[2024-05-10]
10-K	[2024-02-09]
10-Q	[2023-11-03]
10-Q	[2023-08-04]
10-Q	[2023-05-05]
10-K	[2023-02-10]
10-Q	[2022-11-04]
10-Q	[2022-07-29]
10-Q	[2022-05-06]
10-K	[2022-02-11]
10-Q	[2021-11-05]
10-Q	[2021-07-30]
10-Q	[2021-05-07]
10-K	[2021-02-12]
10-Q	[2020-11-06]
10-Q	[2020-07-29]
10-Q	[2020-05-07]
10-K	[2020-02-14]
10-Q	[2019-11-08]
10-Q	[2019-08-02]
10-Q	[2019-05-10]
10-K	[2019-02-15]
10-Q	[2018-11-02]
10-Q	[2018-08-03]
10-Q	[2018-05-10]
10-K	[2018-02-16]

ENBRIDGE INC [EBRGF] Filings

ENBRIDGE INC [ENB] Filings

ENBRIDGE INC [EBBNF] Filings

ENBRIDGE INC [ENBNF] Filings

ENBRIDGE INC [ENBHF] Filings

ENBRIDGE INC [ENBMF] Filings

ENBRIDGE INC [ENBOF] Filings

ENBRIDGE INC [EBRZF] Filings

ENBRIDGE INC [EBGEF] Filings

ENBRIDGE INC [ENBFF] Filings

ENBRIDGE INC [ENBGF] Filings

ENBRIDGE INC [ENBRF] Filings

ENBRIDGE INC [ENNPF] Filings

ENBRIDGE INC [EBBGF] Filings