| SEGMENTED INFORMATION |
4. SEGMENTED INFORMATION
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Three months ended June 30, 2026 |
Liquids
Pipelines |
|
Gas
Transmission |
|
Gas
Distribution
and Storage1 |
|
Renewable
Power
Generation |
|
Total
Reportable
Segments |
|
(millions of Canadian dollars) |
|
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Operating revenues2 |
|
25,221 |
|
|
1,720 |
|
|
2,081 |
|
|
164 |
|
|
29,186 |
|
Commodity and gas distribution costs |
|
(21,924 |
) |
|
(33 |
) |
|
(547 |
) |
|
— |
|
|
(22,504 |
) |
Operating and administrative |
|
(985 |
) |
|
(564 |
) |
|
(710 |
) |
|
(87 |
) |
|
(2,346 |
) |
Income from equity investments |
|
283 |
|
|
227 |
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|
— |
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|
26 |
|
|
536 |
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Other income |
|
28 |
|
|
83 |
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|
54 |
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|
15 |
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|
180 |
|
Earnings before interest, income taxes and depreciation and amortization |
|
2,623 |
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|
1,433 |
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|
878 |
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|
118 |
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|
5,052 |
|
Eliminations and Other |
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(216 |
) |
Depreciation and amortization |
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(1,429 |
) |
Interest expense |
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|
(1,395 |
) |
Earnings before income taxes |
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|
2,012 |
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Three months ended June 30, 2025 |
Liquids
Pipelines |
|
Gas
Transmission |
|
Gas
Distribution
and Storage1 |
|
Renewable
Power
Generation |
|
Total
Reportable
Segments |
|
(millions of Canadian dollars) |
|
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|
|
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Operating revenues2 |
|
10,837 |
|
|
1,604 |
|
|
2,016 |
|
|
145 |
|
|
14,602 |
|
Commodity and gas distribution costs |
|
(7,741 |
) |
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(16 |
) |
|
(553 |
) |
|
1 |
|
|
(8,309 |
) |
Operating and administrative |
|
(1,032 |
) |
|
(514 |
) |
|
(688 |
) |
|
(72 |
) |
|
(2,306 |
) |
Impairment of long-lived assets3 |
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— |
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|
— |
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|
(330 |
) |
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— |
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|
(330 |
) |
Income from equity investments |
|
245 |
|
|
241 |
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|
— |
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|
27 |
|
|
513 |
|
Other income |
|
22 |
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|
127 |
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|
65 |
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|
8 |
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|
222 |
|
Earnings before interest, income taxes and depreciation and amortization |
|
2,331 |
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|
1,442 |
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|
510 |
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|
109 |
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|
4,392 |
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Eliminations and Other |
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1,167 |
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Depreciation and amortization |
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(1,391 |
) |
Interest expense |
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|
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|
|
|
|
|
(1,181 |
) |
Earnings before income taxes |
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|
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|
2,987 |
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Six months ended June 30, 2026 |
Liquids
Pipelines |
|
Gas
Transmission |
|
Gas
Distribution
and Storage1 |
|
Renewable
Power
Generation |
|
Total
Reportable
Segments |
|
(millions of Canadian dollars) |
|
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Operating revenues2 |
|
40,683 |
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|
3,501 |
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|
6,489 |
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|
338 |
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|
51,011 |
|
Commodity and gas distribution costs |
|
(34,547 |
) |
|
(52 |
) |
|
(2,524 |
) |
|
— |
|
|
(37,123 |
) |
Operating and administrative |
|
(2,092 |
) |
|
(1,115 |
) |
|
(1,484 |
) |
|
(173 |
) |
|
(4,864 |
) |
Income from equity investments |
|
508 |
|
|
459 |
|
|
— |
|
|
113 |
|
|
1,080 |
|
Other income |
|
28 |
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|
210 |
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|
106 |
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|
28 |
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|
372 |
|
Earnings before interest, income taxes and depreciation and amortization |
|
4,580 |
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|
3,003 |
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|
2,587 |
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|
306 |
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|
10,476 |
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Eliminations and Other |
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(620 |
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Depreciation and amortization |
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|
(2,862 |
) |
Interest expense |
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|
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|
(2,617 |
) |
Earnings before income taxes |
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4,377 |
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Six months ended June 30, 2025 |
Liquids
Pipelines |
|
Gas
Transmission |
|
Gas
Distribution
and Storage1 |
|
Renewable
Power
Generation |
|
Total
Reportable
Segments |
|
(millions of Canadian dollars) |
|
|
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|
Operating revenues2 |
|
23,021 |
|
|
3,319 |
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|
5,972 |
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|
265 |
|
|
32,577 |
|
Commodity and gas distribution costs |
|
(16,591 |
) |
|
(27 |
) |
|
(2,187 |
) |
|
4 |
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|
(18,801 |
) |
Operating and administrative |
|
(2,160 |
) |
|
(1,038 |
) |
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(1,460 |
) |
|
(150 |
) |
|
(4,808 |
) |
Impairment of long-lived assets3 |
|
— |
|
|
— |
|
|
(330 |
) |
|
— |
|
|
(330 |
) |
Income from equity investments |
|
613 |
|
|
473 |
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|
1 |
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|
159 |
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|
1,246 |
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Other income |
|
41 |
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|
188 |
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|
114 |
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|
54 |
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|
397 |
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Earnings before interest, income taxes and depreciation and amortization |
|
4,924 |
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|
2,915 |
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|
2,110 |
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|
332 |
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|
10,281 |
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Eliminations and Other |
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|
1,207 |
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Depreciation and amortization |
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|
(2,799 |
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Interest expense |
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|
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|
(2,515 |
) |
Earnings before income taxes |
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|
6,174 |
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1Primarily relates to public utilities that are subject to regulation. 2Refer to Note 3 - Revenue for a reconciliation of segment Operating revenues to the Consolidated Statements of Earnings. 3The 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 June 2025 order related to Enbridge Gas Ohio's rate case. Capital Expenditures1
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Three months ended June 30, |
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Six months ended June 30, |
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|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
(millions of Canadian dollars) |
|
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|
Liquids Pipelines |
|
443 |
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|
284 |
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|
854 |
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|
593 |
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Gas Transmission |
|
1,438 |
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|
691 |
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|
2,380 |
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|
1,295 |
|
Gas Distribution and Storage |
|
748 |
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|
735 |
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|
1,456 |
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|
1,396 |
|
Renewable Power Generation |
|
409 |
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|
214 |
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|
833 |
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|
359 |
|
Eliminations and Other |
|
— |
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|
16 |
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|
— |
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|
51 |
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|
3,038 |
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|
1,940 |
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|
5,523 |
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|
3,694 |
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1Capital expenditures are cash basis plus equity component of the allowance for funds used during construction. Property, Plant and Equipment
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June 30,
2026 |
|
December 31,
2025 |
|
(millions of Canadian dollars) |
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Liquids Pipelines |
|
52,689 |
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|
51,689 |
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Gas Transmission |
|
38,235 |
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|
35,421 |
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Gas Distribution and Storage |
|
41,016 |
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|
39,644 |
|
Renewable Power Generation |
|
5,349 |
|
|
4,439 |
|
Eliminations and Other |
|
369 |
|
|
405 |
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|
137,658 |
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|
131,598 |
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