Company: ENBSF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000895728-25-000012
Chunk: 58

Company: ENBRIDGE INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 58
---
 before interest, income taxes and depreciation and amortization1Liquids Pipelines2,593 2,404 Gas Transmission1,473 1,265 Gas Distribution and Storage1,600 765 Renewable Power Generation223 257 Eliminations and Other40 (642)Earnings before interest, income taxes and depreciation and amortization15,929 4,049 Depreciation and amortization(1,408)(1,193)Interest expense(1,334)(905)Income tax expense(697)(386)Earnings attributable to noncontrolling interests(126)(53)Preference share dividends(103)(93)Earnings attributable to common shareholders2,261 1,419 Earnings per common share attributable to common shareholders1.04 0.67 Diluted earnings per common share attributable to common shareholders1.03 0.67 

1Non-GAAP financial measure. Refer to Non-GAAP and Other Financial Measures.

37

EARNINGS ATTRIBUTABLE TO COMMON SHAREHOLDERS

Three months ended March 31, 2025, compared with the three months ended March 31, 2024

Earnings attributable to common shareholders were positively impacted by $554 million due to certain infrequent or other non-operating factors, primarily explained by the following:

•a non-cash, net unrealized derivative fair value loss of $17 million ($13 million after-tax) in 2025, compared with a net unrealized loss of $677 million ($518 million after-tax) in 2024, reflecting changes in the mark-to-market value of derivative financial instruments used to manage foreign exchange, interest rate and commodity price risks;

•the absence in 2025 of severance costs of $105 million ($79 million after-tax) as a result of a workforce reduction in February 2024;

•equity investment income of $87 million ($65 million after-tax) from our investment in DCP Midstream, LP (DCP), as a result of DCP's disposition of certain pipeline assets; and

•a $27 million gain ($25 million after-tax) on disposition of our interest in the East-West Tie Limited Partnership (East-West Tie); partially offset by

•a $139 million realized loss and a $105 million unrealized gain (together resulted in a $26 million loss after-tax) from a hedge settlement in our Renewable Power Generation segment. Earnings attributable to noncontrolling interests of $