Company: ENBSF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000895728-25-000012
Chunk: 28

Company: ENBRIDGE INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 28
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 was issued in November 2024 to improve financial reporting by requiring entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The ASU requires entities to disclose 1) the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, (e) depreciation, depletion and amortization recognized as part of oil and gas producing activities, (f) expense reimbursements included in a relevant expense caption, and (g) selling expenses, and 2) a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 is effective January 1, 2027, with interim period disclosure requirements effective after January 1, 2028 and can be applied either prospectively or retrospectively. We are currently assessing the impact of the new standard on our annual disclosures for the year ending December 31, 2027 and on our interim disclosures beginning in 2028.

11

3.  REVENUE

Change in Revenue ClassificationTo better align the classification of revenues resulting from our acquisitions of the United States (US) Gas Utilities (Note 6), we have made adjustments to Gas distribution sales and Transportation and other services revenues. Revenues generated from customers who procure their own gas but use our distribution system for delivery to the end use location have been reclassified to Gas distribution sales revenue from Transportation and other services revenue on the Consolidated Statements of Earnings and reclassified to Gas distribution sales from Transportation revenue in the Revenue from Contracts with Customers tables below. Our prior period comparable results have been recast to reflect the change in revenue classification. This change did not have an impact on our Total operating revenues. REVENUE FROM CONTRACTS WITH CUSTOMERSMajor Products and ServicesThree months ended March 31, 2025 Liquids Pipelines  Gas Transmission  Gas Distribution and StorageRenewable Power Generation Eliminations and Other  Consolidated(millions of Canadian dollars)      Transportation revenue3,105 1,480 90 — — 4,675 Storage and other revenue68 173 157 — — 398 Gas distribution revenue— — 3,670 — — 3,670 Electricity revenue— — — 42 — 42 Commodity sales— 24 — — —