v3.26.1
Investments (Tables)
 12 Months Ended
Dec. 31, 2025
EBP 001  
EBP, Investment, Fair Value and NAV [Line Items]  
Schedule of Fair Value Hierarchy
The following tables set forth, by level within the fair value hierarchy, the Plan’s investment assets at fair value as of December 31, 2025 and 2024. As required, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
Fair Value Measurements at December 31, 2025
(thousands of U.S. dollars)TotalLevel ILevel IILevel III
Other1
Interest bearing cash9 9 — — — 
Mutual funds
183,029 183,029 — — — 
Participant directed brokerage account14,541 14,541 — — — 
Common collective trusts
1,083,323 — — — 1,083,323 
TC Energy common stock11,733 11,733 — — — 
South Bow common stock990 990 — — — 
Total1,293,625 210,302 — — 1,083,323 
1Fair value is measured using net asset value as a practical expedient, and is therefore excluded from the fair value hierarchy.

Fair Value Measurements at December 31, 2024
(thousands of U.S. dollars)TotalLevel ILevel IILevel III
Other1
Interest bearing cash8 8 — — — 
Mutual funds2
172,371 172,371 — — — 
Participant directed brokerage account2,418 2,418 — — — 
Common collective trusts2
920,741 — — — 920,741 
TC Energy common stock10,494 10,494 — — — 
South Bow common stock1,022 1,022 — — — 
Total1,107,054 186,313 — — 920,741 
1Fair value is measured using net asset value as a practical expedient, and is therefore excluded from the fair value hierarchy.
2In 2024, the Fidelity® 500 Index Fund, Fidelity® Extended Market Index Fund, and Vanguard Total International Stock Index Fund were replaced with other common collective trusts.