Company: ENBSF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000895728-25-000012
Chunk: 34

Company: ENBRIDGE INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 34
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 quarterly dividend per share paid on Preference Shares, Series 4 was decreased to $0.33649 from $0.37110 on March 1, 2025 due to reset on a quarterly basis.4The quarterly dividend per share paid on Preference Shares, Series 11 was increased to $0.34231 from $0.24613 on March 1, 2025 due to reset of the annual dividend on March 1, 2025.

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6.  ACQUISITIONS

BUSINESS COMBINATIONSWe accounted for each of the acquisitions discussed below using the acquisition method as prescribed by ASC 805 Business Combinations. In accordance with valuation methodologies described in ASC 820 Fair Value Measurement, acquired assets and assumed liabilities are recorded at their estimated fair values as at the date of acquisition.The fair values of regulatory assets and liabilities, which are subject to rate-setting and cost recovery mechanisms under ASC 980 Regulated Operations, are equal to their carrying values at acquisition. The recognition of regulatory assets and liabilities is based on the actions, or expected future actions, of the regulator. To the extent that the regulator's actions differ from our expectations, the timing and amount of recovery or settlement of regulatory balances could differ significantly from those recorded at acquisition.The East Ohio Gas CompanyOn March 6, 2024, through a wholly-owned US subsidiary, we acquired all of the outstanding shares of capital stock of The East Ohio Gas Company (EOG) for cash consideration of $5.8 billion (US$4.3 billion) (the EOG Acquisition). EOG is a public natural gas utility providing distribution, storage and transmission services to residential, commercial and industrial customers in Ohio and is regulated by the Public Utilities Commission of Ohio. Subsequent to its acquisition, EOG conducts business as Enbridge Gas Ohio.The EOG Acquisition further diversifies, and is complementary to, our existing gas distribution business.The following table summarizes the estimated fair values that were assigned to the net assets of EOG:March 6, 20241(millions of Canadian dollars)Fair value of net assets acquired:Current assets (a)493 Property, plant and equipment (b)7,276 Long-term assets (c)1,689 Current liabilities551 Long-term debt (d)2,612 Other long-term liabilities (e)1,001 Deferred income tax liabilities1,045 Goodwill (f)1,603 Purchase price:Cash5,852 1  In the