Content
CONSOLIDATED RESULTS
|
Financial Performance1 (millions of dollars, except per share amounts) |
2007 |
2006 |
2005 |
|---|---|---|---|
Liquids Pipelines |
287.2 |
274.2 |
229.1 |
Gas Pipelines |
69.7 |
61.2 |
59.8 |
Sponsored Investments |
96.9 |
86.8 |
64.8 |
Gas Distribution and Services |
184.1 |
178.2 |
178.8 |
International |
95.1 |
83.2 |
87.4 |
Corporate |
(32.8) |
(68.2) |
(63.9) |
Earnings Applicable to Common Shareholders |
700.2 |
615.4 |
556.0 |
Earnings per Common Share |
1.97 |
1.81 |
1.65 |
Diluted Earnings per Common Share |
1.95 |
1.79 |
1.63 |
1 Financial Performance data have been extracted from financial statements prepared in accordance with Canadian Generally Accepted Accounting Principles (GAAP).
Earnings applicable to common shareholders were $700.2 million for the year ended December 31, 2007, or $1.97 per share, compared with $615.4 million, or $1.81 per share, in 2006. The $84.8 million increase was primarily due to colder than normal weather and strong performance at Enbridge Gas Distribution (EGD), lower corporate interest expense and increased earnings at Enbridge Energy Partners, L.P. (EEP). The 2007 results also included a significant benefit from favorable legislated Canadian tax changes enacted in 2007. The positive factors were partially offset by lower contributions from the Aux Sable natural gas fractionation facility and Energy Services.
Earnings applicable to common shareholders were $615.4 million for the year ended December 31, 2006, or $1.81 per share, compared with $556.0 million, or $1.65 per share, in 2005. The $59.4 million increase in earnings was primarily the result of higher earnings from the Enbridge crude oil mainline system, strong results from EEP and from Aux Sable. The 2006 results also included $48.9 million from the revaluation of future income tax balances due to tax rate reductions enacted in 2006. These positive factors were partially offset by a lower earnings contribution from EGD as the weather in the Ontario market was significantly warmer than normal during 2006.
Earnings Applicable to Common Shareholders
(millions of Canadian dollars)
