Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 55

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 55
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OLIDATED STATEMENTS OF EARNINGS

Year ended December 31,202420232022(millions of Canadian dollars, except per share amounts)Operating revenuesCommodity sales27,018 18,981 29,150 Gas distribution sales6,802 5,442 6,237 Transportation and other services19,653 19,226 17,922 Total operating revenues (Note 4)53,473 43,649 53,309 Operating expensesCommodity costs26,556 18,526 28,942 Gas distribution costs2,484 2,840 3,647 Operating and administrative9,427 8,600 8,219 Depreciation and amortization5,167 4,613 4,317 Impairment of long-lived assets190 419 541 Impairment of goodwill — — 2,465 Total operating expenses43,824 34,998 48,131 Operating income9,649 8,651 5,178 Income from equity investments (Note 13)2,304 1,816 2,056 Gain on disposition of equity investments (Note 13)1,091 — — Gain on joint venture merger transaction (Note 13)— — 1,076 Other income/(expense) (Note 27)(1,326)1,224 (589)Interest expense (Note 17)(4,419)(3,812)(3,179)Earnings before income taxes7,299 7,879 4,542 Income tax expense (Note 24)(1,668)(1,821)(1,604)Earnings5,631 6,058 2,938 (Earnings)/loss attributable to noncontrolling interests(190)133 65 Earnings attributable to controlling interests5,441 6,191 3,003 Preference share dividends(388)(352)(414)Earnings attributable to common shareholders5,053 5,839 2,589 Earnings per common share attributable to common shareholders (Note 6)2.34 2.84 1.28 Diluted earnings per common share attributable to common shareholders (Note 6)2.34 2.84 1.28 

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

107

ENBRIDGE INC.

CONSOLIDATED STATEMENTS OF