Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 147

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 147
---
 Plant and Equipment.

181

COMPONENTS OF PRETAX EARNINGS AND INCOME TAXESYear ended December 31,202420232022(millions of Canadian dollars)   Earnings before income taxes   Canada1,035 2,233 583 US5,231 4,620 2,865 Other1,033 1,026 1,094  7,299 7,879 4,542 Current income taxes   Canada248 100 360 US578 191 201 Other123 110 86  949 401 647 Deferred income taxes   Canada(299)456 (358)US1,013 974 1,309 Other5 (10)6  719 1,420 957 Income tax expense1,668 1,821 1,604 COMPONENTS OF DEFERRED INCOME TAXESDeferred income tax assets and liabilities are recognized for the future tax consequences of differences between carrying amounts of assets and liabilities and their respective tax bases. Major components of deferred income tax assets and liabilities are as follows:December 31,20242023(millions of Canadian dollars)  Deferred income tax liabilities  Property, plant and equipment(11,368)(9,202)Investments(9,043)(7,765)Regulatory assets(1,940)(1,338)Other(251)(52)Total deferred income tax liabilities(22,602)(18,357)Deferred income tax assets  Financial instruments740 271 Loss carryforwards1,272 1,745 Other2,088 1,798 Total deferred income tax assets4,100 3,814 Less valuation allowance(298)(147)Total deferred income tax assets, net3,802 3,667 Net deferred income tax liabilities, net(18,800)(14,690)Presented as follows:Total deferred income tax assets796 341 Total deferred income tax liabilities(19,596)(15,031)Net deferred income tax liabilities, net(18,800)(14,690)A valuation allowance has been established for certain loss and credit carryforwards, and outside basis temporary differences on investments that reduce deferred income tax assets to an amount that will more likely than not be realized. 

182

As at both December 31, 2024 and 2023, we recognized the benefit of unused tax loss