Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 120

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 120
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2026, and were callable in March 2024, which was one year after their issuance.DEBT COVENANTSOur credit facility agreements and term debt indentures include standard events of default and covenant provisions whereby accelerated repayment and/or termination of the agreements may result if we were to default on payment or violate certain covenants. As at December 31, 2024, we were in compliance with all debt covenants.ANNUAL DEBT MATURITIESAs at December 31, 2024, we have commitments as detailed below:TotalLessthan1 year2 years3 years4 years5 yearsThereafter(millions of Canadian dollars)       Annual debt maturities1101,819 7,724 7,379 4,704 3,056 13,578 65,378 1Includes debentures, term notes, commercial paper and credit facility draws based on the facility's maturity date and excludes short-term borrowings, debt discounts, debt issuance costs, finance lease obligations and fair value adjustment. We have the ability under certain debt facilities to call and repay the obligations prior to scheduled maturities. Therefore, the actual timing of future cash repayments could be materially different than presented above.

159

INTEREST EXPENSEYear ended December 31,202420232022(millions of Canadian dollars)   Debentures and term notes4,123 3,439 2,910 Commercial paper and credit facility draws439 519 388 Amortization of fair value adjustment18 (45)(45)Capitalized interest(161)(101)(74) 4,419 3,812 3,179 

18.  ASSET RETIREMENT OBLIGATIONS

Our ARO relate mostly to the retirement of pipelines, renewable power generation assets, oil and gas wells and production facilities, and obligations related to right-of way agreements and contractual leases for land use.The discount rates used to estimate the present value of the expected future cash flows for the years ended December 31, 2024 and 2023 ranged from 1.5% to 9.0%.A reconciliation of movements in our ARO liabilities is as follows:December 31,20242023(millions of Canadian dollars)Obligations at beginning of year493 488 Liabilities acquired185 1 Liabilities incurred3 — Liabilities settled(139)(23)Change in estimate and other51 5