Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 113

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 113
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2024Weighted Average Amortization RateCost Accumulated AmortizationNet(millions of Canadian dollars)    Software10.9 %2,109 (1,222)887 Power purchase agreements4.5 %58 (26)32 Project agreement14.0 %173 (52)121 Customer relationships8.6 %2,856 (975)1,881 Biogas rights agreements3.4 %999 (34)965 Other intangible assets5.8 %665 (234)431 Under development— %270 — 270   7,130 (2,543)4,587 December 31, 2023Weighted Average Amortization RateCostAccumulated AmortizationNet(millions of Canadian dollars)    Software12.0 %1,921 (1,090)831 Power purchase agreements4.3 %58 (24)34 Project agreement14.0 %158 (41)117 Customer relationships8.6 %2,636 (675)1,961 Other intangible assets8.2 %603 (185)418 Under development— %176 — 176   5,552 (2,015)3,537 1Represents a project agreement acquired from the merger of Enbridge and Spectra Energy.For the years ended December 31, 2024, 2023 and 2022, our amortization expense related to intangible assets totaled $530 million, $535 million and $483 million, respectively. Our expected amortization expense associated with existing intangible assets for each of the years 2025 to 2029 is $558 million.

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15.  GOODWILL

Liquids PipelinesGas TransmissionGas Distribution and StorageRenewable Power GenerationConsolidated(millions of Canadian dollars)Balance at January 1, 20238,549 18,106 5,397 388 32,440 Foreign exchange and other(205)(425)— (8)(638)Acquisition3— 46 — — 46 Balance at December 31, 20231,28,344 17,727 5,397 380 31,848 Dispositions4— (1,026)— — (1,026)Foreign exchange and other672