Enbridge Inc. operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States. The Gas Transmission and Midstream segment invests in natural gas pipelines, and gathering and processing facilities in Canada and the United States. The Gas Distribution and Storage segment is involved in natural gas utility operations serving residential, commercial, and industrial customers in Ontario, as well as natural gas distribution and energy transportation activities in Quebec. The Renewable Power Generation segment operates power generating assets, such as wind, solar, geothermal, and waste heat recovery facilities; and transmission assets in North America and Europe. The Energy Services segment provides energy marketing services to refiners, producers, and other customers; and physical commodity marketing and logistical services in Canada and the United States. The company was formerly known as IPL Energy Inc. and changed its name to Enbridge Inc. in October 1998. Enbridge Inc. was founded in 1949 and is headquartered in Calgary, Canada.

Enbridge Inc.

Commodity Sales

Commodity Sales %Chg

Commodity Sales Common Size

Gas Distribution Sales

Gas Distribution Sales %Chg

Gas Distribution Sales Common Size

Transportation and Other Services

Transportation and Other Services %Chg

Transportation and Other Services Common Size

Energy Services

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Energy Services Common Size

Total Operating Revenues

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Total Operating Revenues Common Size

Commodity Costs

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Gas Distribution Costs

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Operating and Administrative

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Depreciation and Amortization

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Environmental Costs, Net of Recoveries

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Impairment of Long-Lived Assets

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Impairment of Goodwill

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Total Operating Expenses

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Operating Income

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Operating Income Common Size

Income from Equity Investments

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Other Expense

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Impairment of Equity Investments

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Net Foreign Currency Gain

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Gain on Disposition of Equity Investments

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Gain on Joint Venture Merger Transaction

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Other Income, Net

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Other Income

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Interest Expense

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Income Before Income Taxes

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Earnings Before Income Taxes

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Income Tax Expense

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Earnings from Continuing Operations

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Earnings from Discontinued Operations Before Income Taxes

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Income Taxes from Discontinued Operations

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Earnings from Discontinued Operations

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Earnings Before Extraordinary Loss

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Extraordinary Loss, Net of Tax

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Earnings

Total Revenues

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Cost of Sales

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Gross Profit

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Gross Profit Margin

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Selling, General & Administrative Expenses

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Depreciation & Amortization Expenses

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Other Operating Expenses

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Operating Profit

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Operating Margin

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Interest and Investment Income

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Non-Operating Income

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Total Non-Operating Income

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

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Adjusted Net Income

Net Revenue

Net Income

Average Assets

Adjusted EBIT

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Adjusted EBT

Adjusted Funds From Operations

Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	64,234	53,473	43,649	53,309	47,071	39,087	50,069	46,378	44,378	34,560	33,794
Total Revenues %Chg	32.3%	22.5%	-18.1%	13.3%	20.4%	-21.9%	8%	4.5%	28.4%	2.3%	-10.2%
Commodity Sales
Gas Distribution Sales
Transportation and Other Services
Energy Services
Cost of Sales	37,486	29,040	21,366	32,589	28,702	20,669	31,004	29,401	28,637	24,005	25,241
Commodity Costs
Gas Distribution Costs
Gross Profit	26,748	24,433	22,283	20,720	18,369	18,418	19,065	16,977	15,741	10,555	8,553
Gross Profit Margin	41.6%	45.7%	51.1%	38.9%	39%	47.1%	38.1%	36.6%	35.5%	30.5%	25.3%
Selling, General & Administrative Expenses	9,968	9,427	8,600	8,219	6,712	6,749	6,991	6,792	6,442	4,358	4,131
Operating and Administrative
Depreciation & Amortization Expenses	5,581	5,167	4,613	4,317	3,852	3,712	3,391	3,246	3,163	2,240	2,024
Depreciation and Amortization
Other Operating Expenses	—	190	419	3,006	—	—	423	2,123	4,565	1,376	536
Environmental Costs, Net of Recoveries
Impairment of Long-Lived Assets
Impairment of Goodwill
Operating Profit	10,679	9,649	8,651	5,178	7,805	7,957	8,260	4,816	1,571	2,581	1,862
Operating Income
Operating Margin	16.6%	18%	19.8%	9.7%	16.6%	20.4%	16.5%	10.4%	3.5%	7.5%	5.5%
Interest and Investment Income	2,330	2,304	1,816	2,056	1,600	1,136	1,503	1,509	1,102	428	475
Income from Equity Investments
Interest Expense	-4,895	-4,419	-3,812	-3,179	-2,655	-2,790	-2,663	-2,703	-2,556	-1,590	-1,624
Interest Expense
Non-Operating Income	72	-235	1,224	487	979	-2,113	435	-52	452	1,032	-702
Other Expense
Impairment of Equity Investments
Net Foreign Currency Gain
Gain on Disposition of Equity Investments
Gain on Joint Venture Merger Transaction
Other Income, Net
Other Income
Total Non-Operating Income	-2,493	-2,350	-772	-636	-76	-3,767	-725	-1,246	-1,002	-130	-1,851
Income Before Provision for Income Taxes	8,186	7,299	7,879	4,542	7,729	4,190	7,535	3,570	569	2,451	11
Earnings Before Income Taxes
Provision for Income Taxes	1,910	1,668	1,821	1,604	1,415	774	1,708	237	-2,697	142	170
Income Tax Expense
Consolidated Net Income	6,276	5,631	6,058	2,938	6,314	3,416	5,827	3,333	3,266	2,309	-159
Earnings from Continuing Operations
Net Income Attributable to Minority Interests and Other	250	190	-133	-65	125	53	122	451	407	240	-410
Earnings Attributable to Noncontrolling Interests and Redeemable Noncontrolling Interest
Extraordinary Loss, Net of Tax
Net Income Attributable to Preferred Dividends	413	388	352	414	373	380	383	367	330	293	288
Preference Share Dividends
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—	—	—	—	—	—
Earnings from Discontinued Operations
Net Income Attributable to Common Shareholders	5,613	5,053	5,839	2,589	5,816	2,983	5,322	2,515	2,529	1,776	-37
Earnings Attributable to Common Shareholders
Basic EPS	2.6	2.3	2.8	1.3	2.9	1.5	2.6	1.5	1.7	2	-0
Diluted EPS	2.6	2.3	2.8	1.3	2.9	1.5	2.6	1.5	1.7	1.9	-0
Basic Weighted Average Shares Outstanding	2,179.5	2,155	2,056	2,025	2,023	2,020	2,017	1,724	1,525	911	847
Total Shares Outstanding	2,181	2,178	2,125	2,025	2,026	2,026	2,025	2,022	1,695	943	868
Diluted Weighted Average Shares Outstanding	2,184	2,158	2,058	2,029	2,025	2,021	2,020	1,727	1,532	918	847
EBITDA	16,260	14,816	13,264	9,495	11,657	11,669	11,651	8,062	4,734	4,821	3,886
Effective Tax Rate	23.3%	22.9%	23.1%	35.3%	18.3%	18.5%	22.7%	6.6%	-474%	5.8%	1,545.5%