Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 26

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 26
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 repayments of short-term borrowings in 2024 when compared to the same period in 2023.

The factors above were partially offset by: 

•higher long-term debt repayments and lower long-term debt issuances in 2024 when compared to the same period in 2023;

•the absence in 2024 of the public offering of common shares, which closed on September 8, 2023 for gross proceeds of $4.6 billion; and

•increased common share dividend payments primarily due to the increase in our common share dividend rate and an increase in the number of common shares outstanding. 

2023

The decrease in cash provided by financing activities primarily resulted from the following factors:

•higher long-term debt issuances in 2023 when compared to the same period in 2022;

•our public offering of common shares, which closed on September 8, 2023, resulting in the issuance of 102,913,500 common shares at a price of $44.70 per share for gross proceeds of $4.6 billion, which is intended to finance a portion of the aggregate cash consideration payable for the Acquisitions; and

•the absence in 2023 of the redemption of Preference Shares, Series 17 and Series J in the first and second quarters of 2022, respectively.

The factors above were partially offset by:

•higher net commercial paper and credit facility repayments in 2023 when compared to the same period in 2022;

•net repayments of short-term borrowings in 2023 when compared to net issuances in 2022;

•the absence in 2023 of proceeds received from the sale of a non-operating interest in seven pipelines from our Regional Oil Sands System in October 2022; 

•higher long-term debt repayments in 2023 when compared to the same period in 2022; and

•increased common share dividend payments primarily due to the increase in our common share dividend rate and an increase in the number of common shares outstanding. 

86

OFF-BALANCE SHEET ARRANGEMENTS

We enter into guarantee arrangements in the normal course of business to facilitate commercial transactions with third parties and can include financial guarantees, stand-by letters of credit, debt guarantees, surety bonds and indemnifications. Please see Part II. Item 8. Financial Statements and Supplementary Data - Note 31 - Guarantees for further discussion of guarantee arrangements.

We do not have material off-balance sheet financing