Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 92

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 92
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 related to US income taxes72,021 854 VariousPipeline future abandonment costs (Note 23)826 745 VariousPension plan payable659 143 VariousOther long-term regulatory liabilities242 86 VariousTotal long-term regulatory liabilities86,112 3,521 Total regulatory liabilities6,728 3,828 1Represents the amounts anticipated to be collected from customers in East Ohio’s service areas for rider projects, including CEP, PIR and costs related to the Pipeline Safety Management Program. The recovery periods for these expenditures vary according to the stipulations outlined in the respective riders. For Enbridge Gas North Carolina, these amounts relate to pipeline integrity management which represent operating costs incurred to comply with federal regulatory requirements related to natural gas pipelines and have been deferred pending future approval of rate recovery. 2Current regulatory assets are included in Other current assets, while long-term regulatory assets are included in Deferred amounts and other assets.3Represents the regulatory offset to deferred income tax liabilities to the extent that it is expected to be included in future regulator-approved rates and recovered from customers. The recovery period depends on the timing of the reversal of temporary differences. In the absence of rate-regulated accounting, this regulatory balance and the related earnings impact would not be recorded. The balance as at December 31, 2024 is net of regulatory deferred tax write-offs.4Represents our regulatory offset to the fair value adjustment to debt acquired in our merger with Spectra Energy Corp. (Spectra Energy). The offset is viewed as a proxy for the regulatory asset that would be recorded in the event such debt was extinguished at an amount higher than the carrying value.5The negative salvage balance represents the recovery in future rates of the actual cost of removal of previously retired or decommissioned plant assets, as approved by the FERC.6Represents the regulatory offset to our pension liability to the extent that it is expected to be included in regulator-approved future rates and recovered from customers. The settlement period for this balance is not determinable. In the absence of rate-regulated accounting, this regulatory balance and the related pension expense would be recorded in earnings and OCI.

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7The regulatory liability related to US income taxes resulted from the US tax reform legislation dated December 22, 2017. These balances will be refunded to customers in accordance with the respective rate settlements approved by the FERC for our US Gas Transmission pipelines and by the respective state utility commission for each US Gas Distribution franchise.8Current regulatory liabilities are included in