Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 149

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 149
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 would have a material impact on our consolidated financial statements.We recognize accrued interest and penalties related to unrecognized tax benefits as a component of income taxes. Interest and penalties included in income taxes for the years ended December 31, 2024 and 2023 were $8 million recovery and $1 million expense, respectively. As at December 31, 2024 and 2023, interest and penalties of $6 million and $14 million, respectively, have been accrued.

25.  PENSION AND OTHER POSTRETIREMENT BENEFITS

 PENSION PLANSWe sponsor Canadian and US contributory and non-contributory registered defined benefit and defined contribution pension plans, which provide benefits covering substantially all employees. The Canadian pension plans provide defined benefit and defined contribution pension benefits to our Canadian employees. The US pension plans provide defined benefit pension benefits to our US employees. We also sponsor supplemental non-contributory defined benefit pension plans, which provide non-registered benefits for certain employees in Canada and the US. 

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Defined Benefit Pension Plan BenefitsBenefits payable from the defined benefit pension plans are based on each plan participant's years of service and final average remuneration. Some benefits are partially inflation-indexed after a plan participant’s retirement. Our contributions are made in accordance with independent actuarial valuations. Participant contributions to contributory defined benefit pension plans are based upon each plan participant's current eligible remuneration.Defined Contribution Pension Plan BenefitsOur contributions are based on each plan participant's current eligible remuneration. Our contributions for some defined contribution pension plans are also based on age and years of service. Our defined contribution pension benefit costs are equal to the amount of contributions required to be made by us.Benefit Obligations, Plan Assets and Funded StatusThe following table details the changes in the projected benefit obligation, the fair value of plan assets and the recorded assets or liabilities for our defined benefit pension plans: CanadaUSDecember 31,2024202320242023(millions of Canadian dollars)    Change in projected benefit obligation    Projected benefit obligation at beginning of year4,092 3,630 1,036 1,029 Service cost 103 81 60 40 Interest cost186 184 69 47 Participant contributions32 31 — — Actuarial (gain)/loss1— 359 (98)31 Benefits paid(210)(193)(100)(76)Transfer in— — 569 — Foreign currency exchange rate changes—