Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 150

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 150
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 — 119 (29)Other— — (7)(6)Projected benefit obligation at end of year24,203 4,092 1,648 1,036 Change in plan assetsFair value of plan assets at beginning of year4,528 4,234 1,052 1,080 Actual return on plan assets627 427 197 78 Employer contributions23 27 5 5 Participant contributions32 31 — — Benefits paid(210)(193)(100)(76)Transfer in— — 900 — Foreign currency exchange rate changes— — 146 (29)Other— 2 (6)(6)Fair value of plan assets at end of year35,000 4,528 2,194 1,052 Overfunded status at end of year797 436 546 16 Presented as follows:Deferred amounts and other assets943 636 653 116 Other current liabilities(10)(8)(6)(5)Other long-term liabilities (136)(192)(101)(95) 797 436 546 16 1Primarily due to the increase in the discount rate and changes in benefit assumptions and member data used to measure the defined benefit obligations (2023 - primarily due to the decrease in the discount rates used to measure the benefit obligation).2The accumulated benefit obligation for our Canadian pension plans was $3.9 billion and $3.8 billion as at December 31, 2024 and 2023, respectively. The accumulated benefit obligation for our US pension plans was $1.6 billion and $1.0 billion as at December 31, 2024 and 2023, respectively.3Assets in the amount of $18 million (2023 - $14 million) and $80 million (2023 - $62 million), related to our Canadian and US non-registered supplemental pension plan obligations, respectively, are held in grantor trusts and rabbi trusts that, in accordance with federal tax regulations, are not restricted from creditors. These assets are committed for the future settlement of benefit obligations included in the underfunded status as at the end of the year, however they are excluded from plan assets for accounting purposes.

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Certain of our pension plans have accumulated benefit obligations in excess of the fair value of plan assets. For these plans, the accumulated benefit obligation and fair value of plan assets were as follows: CanadaUS