Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 146

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 146
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(192)(106)(122)Write-off of regulatory deferrals3,54115—Part VI.1 tax, net of federal Part I deduction3,6736676US Minimum Tax148100107Non-taxable portion of gain on sale of investment3,7(147)——Valuation allowance3(2)(12)6Accounting impairment of non-deductible goodwill3,8148—370Noncontrolling interests3,9(30)199Investment and production tax credits(23)(47)—Other371(94)74Income tax expense1,6681,8211,604Effective income tax rate22.9 %23.1 %35.3 %1The change in provincial and state income taxes from 2023 to 2024 reflects the decrease in earnings from Canadian operations partially offset by an increase in earnings from US operations before considering the non-deductible goodwill impairment to the Gas Transmission segment. Refer to Note 13 - Long-Term Investments.2The change in foreign and other statutory rate differentials from 2023 to 2024 reflects the increase in earnings from US operations before considering the non-deductible goodwill impairment to the Gas Transmission segment. Refer to Note 13 - Long-Term Investments.3The provincial and state tax component of these items is included in the Provincial and state income taxes above.4The amount in 2024 includes the effects of rate regulated accounting attributable to the Acquisitions. Refer to Note 8 - Acquisitions and Disposition.5The amount in 2023 includes the federal tax impact of the de-recognition of rate-regulated accounting for income tax relating to Southern Lights Canada and portions of the Canadian Mainline including Line 9 and L3R. Refer to Note 7 - Regulatory Matters.6Part VI.1 tax is a tax levied on preferred share dividends paid in Canada.7The amount in 2024 represents the federal component of the non-taxable portion of the gain on sales relating to Alliance Pipeline and Aux Sable. Refer to Note 13 - Long-Term Investments.8The amounts relates to the federal impact of the non-deductible goodwill impairment to the Gas Transmissions segment. Refer to Note 13 - Long-Term Investments and Note 15 - Goodwill.9The amount in 2023 and 2022 includes the federal tax impact of impairments to Chapman Ranch and Magic Valley attributable to non-controlling interests in those respective years. Refer to Note 11 - Property,