| SEGMENTED INFORMATION |
4. SEGMENTED INFORMATION
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Three months ended September 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 |
|
17,420 |
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|
1,726 |
|
|
1,576 |
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|
151 |
|
|
20,873 |
|
Commodity and gas distribution costs |
|
(14,484 |
) |
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(44 |
) |
|
(268 |
) |
|
— |
|
|
(14,796 |
) |
Operating and administrative |
|
(1,085 |
) |
|
(566 |
) |
|
(708 |
) |
|
(95 |
) |
|
(2,454 |
) |
Income from equity investments |
|
234 |
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|
248 |
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|
4 |
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|
36 |
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|
522 |
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Other income |
|
48 |
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|
94 |
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|
61 |
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|
21 |
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|
224 |
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Earnings before interest, income taxes and depreciation and amortization |
|
2,133 |
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|
1,458 |
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|
665 |
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|
113 |
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|
4,369 |
|
Eliminations and Other |
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|
49 |
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Depreciation and amortization |
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(1,490 |
) |
Interest expense |
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(1,049 |
) |
Earnings before income taxes |
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1,879 |
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Three months ended September 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 |
|
11,183 |
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|
1,597 |
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|
1,513 |
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|
130 |
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|
14,423 |
|
Commodity and gas distribution costs |
|
(8,032 |
) |
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(12 |
) |
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(284 |
) |
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(2 |
) |
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(8,330 |
) |
Operating and administrative |
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(1,108 |
) |
|
(571 |
) |
|
(719 |
) |
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(87 |
) |
|
(2,485 |
) |
Income from equity investments |
|
230 |
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|
192 |
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|
1 |
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|
32 |
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|
455 |
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Other income |
|
10 |
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|
64 |
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|
49 |
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|
16 |
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|
139 |
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Earnings before interest, income taxes and depreciation and amortization |
|
2,283 |
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|
1,270 |
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|
560 |
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|
89 |
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|
4,202 |
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Eliminations and Other |
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(379 |
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Depreciation and amortization |
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(1,398 |
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Interest expense |
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(1,262 |
) |
Earnings before income taxes |
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1,163 |
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Nine months ended September 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 |
|
58,103 |
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|
5,227 |
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|
8,065 |
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|
489 |
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|
71,884 |
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Commodity and gas distribution costs |
|
(49,031 |
) |
|
(96 |
) |
|
(2,792 |
) |
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— |
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|
(51,919 |
) |
Operating and administrative |
|
(3,177 |
) |
|
(1,681 |
) |
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(2,192 |
) |
|
(268 |
) |
|
(7,318 |
) |
Income from equity investments |
|
742 |
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|
707 |
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|
4 |
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|
149 |
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|
1,602 |
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Other income |
|
76 |
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|
304 |
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|
167 |
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|
49 |
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|
596 |
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Earnings before interest, income taxes and depreciation and amortization |
|
6,713 |
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|
4,461 |
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|
3,252 |
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|
419 |
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|
14,845 |
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Eliminations and Other |
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(571 |
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Depreciation and amortization |
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(4,352 |
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Interest expense |
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(3,666 |
) |
Earnings before income taxes |
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6,256 |
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Nine months ended September 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 |
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34,204 |
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|
4,916 |
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|
7,485 |
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|
395 |
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|
47,000 |
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Commodity and gas distribution costs |
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(24,623 |
) |
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(39 |
) |
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(2,471 |
) |
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2 |
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(27,131 |
) |
Operating and administrative |
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(3,268 |
) |
|
(1,609 |
) |
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(2,179 |
) |
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(237 |
) |
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(7,293 |
) |
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 |
|
843 |
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|
665 |
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|
2 |
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|
191 |
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|
1,701 |
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Other income |
|
51 |
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|
252 |
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|
163 |
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|
70 |
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|
536 |
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Earnings before interest, income taxes and depreciation and amortization |
|
7,207 |
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|
4,185 |
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|
2,670 |
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|
421 |
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14,483 |
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Eliminations and Other |
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|
828 |
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Depreciation and amortization |
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(4,197 |
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Interest expense |
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(3,777 |
) |
Earnings before income taxes |
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|
7,337 |
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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 September 30, |
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Nine months ended September 30, |
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|
2026 |
|
2025 |
|
2026 |
|
2025 |
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(millions of Canadian dollars) |
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Liquids Pipelines |
|
661 |
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|
307 |
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|
1,515 |
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|
900 |
|
Gas Transmission |
|
1,175 |
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|
933 |
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3,555 |
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|
2,228 |
|
Gas Distribution and Storage |
|
880 |
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|
914 |
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|
2,336 |
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|
2,310 |
|
Renewable Power Generation |
|
801 |
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|
173 |
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|
1,634 |
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|
532 |
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Eliminations and Other |
|
— |
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|
20 |
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|
— |
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|
71 |
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|
3,517 |
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|
2,347 |
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|
9,040 |
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|
6,041 |
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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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September 30,
2026 |
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December 31,
2025 |
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(millions of Canadian dollars) |
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Liquids Pipelines |
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53,085 |
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|
51,689 |
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Gas Transmission |
|
39,178 |
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|
35,421 |
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Gas Distribution and Storage |
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41,512 |
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|
39,644 |
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Renewable Power Generation |
|
6,291 |
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|
4,439 |
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Eliminations and Other |
|
339 |
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|
405 |
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140,405 |
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|
131,598 |
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