Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 105

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 105
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12.  VARIABLE INTEREST ENTITIES

CONSOLIDATED VARIABLE INTEREST ENTITIESOur consolidated VIEs consist of legal entities where we are the primary beneficiary. We are the primary beneficiary when our variable interest provides us with the power to direct the activities of the VIE that most significantly impact the entity's economic performance and the obligation to absorb losses, or the right to receive benefits from, the VIE that could potentially be significant to the VIE. We determine whether we are the primary beneficiary of a VIE by considering qualitative and quantitative factors, including, but not limited to: decision-making responsibilities, the VIE capital structure, risk and rewards sharing, contractual agreements with the VIE, voting rights and level of involvement of other parties.The following table includes assets only to be used to settle liabilities of our consolidated VIEs. The creditors of the liabilities of our consolidated VIEs do not have recourse to our general credit as the primary beneficiary. These assets and liabilities are included in the Consolidated Statements of Financial Position.December 31,20242023(millions of Canadian dollars)  Assets  Current assetsCash and cash equivalents448 442 Restricted cash11 9 Trade receivables and unbilled revenues138 144 Other current assets5 8 Accounts receivable from affiliates13 5 Inventory13 11  628 619 Property, plant and equipment, net6,934 7,105 Long-term investments20 14 Restricted long-term investments and cash141 106 Deferred amounts and other assets145 148 Intangible assets, net77 84  7,945 8,076 Liabilities  Current liabilitiesTrade payables and accrued liabilities108 83 Other current liabilities124 145 Accounts payable to affiliates22 4  254 232 Long-term debt— 1 Other long-term liabilities1,133 971 Deferred income taxes6 5  1,393 1,209 6,552 6,867  We do not have obligations to provide additional financial support to any of our consolidated VIEs.

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UNCONSOLIDATED VARIABLE INTEREST ENTITIESWe also hold interests in unconsolidated VIEs where we are not the primary beneficiary as we do not have the power to direct the activities of the VIEs that most significantly impact the entity's economic performance. These interests include investments in limited partnerships that are assessed to be VIEs due to the limited partners