Company: ENBSF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000895728-25-000012
Chunk: 40

Company: ENBRIDGE INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 40
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sof Fair ValueHedgesNetInvestmentHedgesCumulativeTranslationAdjustmentEquityInvestees and Other InvestmentsPensionandOPEBAdjustmentTotal(millions of Canadian dollars)Balance as at January 1, 2024320 (23)(728)2,653 11 70 2,303 Other comprehensive income/(loss) retained in AOCI144 (15)(377)1,629 (1)— 1,380 Other comprehensive (income)/loss reclassified to earningsForeign exchange contracts2— 19 — — — — 19 Amortization of pension and OPEB actuarial gain3— — — — — (5)(5)144 4 (377)1,629 (1)(5)1,394 Tax impactIncome tax on amounts retained in AOCI(34)4 — — — — (30)Income tax on amounts reclassified to earnings— (4)— — — 1 (3)(34)— — — — 1 (33)Balance as at March 31, 2024430 (19)(1,105)4,282 10 66 3,664 1Reported within Interest expense in the Consolidated Statements of Earnings.2Reported within Interest expense and Other income/(expense) in the Consolidated Statements of Earnings.3These components are included in the computation of net periodic benefit credit and are reported within Other income/(expense) in the Consolidated Statements of Earnings.

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9.  RISK MANAGEMENT AND FINANCIAL INSTRUMENTS

MARKET RISKOur earnings, cash flows and other comprehensive income/(loss) (OCI) are subject to movements in foreign exchange rates, interest rates, commodity prices and our share price (collectively, market risks). Formal risk management policies, processes and systems have been designed to mitigate these risks.The following summarizes the types of market risks to which we are exposed and the risk management instruments used to mitigate them. We use a combination of qualifying and non-qualifying derivative instruments to manage the risks noted below.Foreign Exchange RiskWe generate certain revenues, incur expenses and hold a number of investments and subsidiaries that are denominated in currencies other than Canadian dollars. As a result, our earnings, cash flows and OCI are exposed to fluctuations resulting from foreign exchange rate variability.We employ financial derivative instruments to hedge foreign currency