Financial Information



Highlights

(CAD$ in millions, except per share amounts)

YTD1 2017 YTD1 2016 2016 2015
Adjusted earnings
Liquids pipelines 1,908 2,006 3,958 3,384
Gas pipelines and processing 1,003 177 366 336
Gas distribution 422 313 494 446
Green power and transmission 101 88 165 175
Energy services (8) 48 28 61
Eliminations and others (198) (169) (349) (246)
Adjusted earnings before interest and income taxes2 3,228 2,463 4,662 4,156
Interest expense3 (1,053) (757) (1,545) (1,273)
Income taxes3 (338) (307) (520) (486)
Noncontrolling interests and redeemable noncontrolling interests3 (336) (136) (226) (243)
Preference share dividends (164) (144) (293) (288)
Adjusted earnings2 1,337 1,119 2,078 1,866
Adjusted earnings per common share2 0.95 1.25 2.28 2.20
Adjusted EBIT to ACFFO4
Adjusted earnings before interest and income taxes2 3,228 2,463 4,662 4,156
Depreciation and amortization 1,540 1,114 2,240 2,024
Maintenance capital (556) (295) (671) (720)
4,212 3,282 6,231 5,460
Interest expense3 (1,110) (757) (1,545) (1,273)
Current income taxes3 (83) (81) (92) (160)
Distributions to noncontrolling interest (386) (362) (720) (680)
Distributions to redeemable noncontrolling interests (117) (95) (202) (114)
Preference share dividends (164) (144) (293) (288)
Cash distributions in excess of equity earnings3 55 21 183 244
Other non-cash adjustments 132 118 151 (35)
Available cash flow from operations4 2,539 1,982 3,713 3,154
Available cash flow from operations per common share4 0.81 0.95 4.08 3.72
Dividends
Common share dividends declared 1,551 952 1,945 1,596
Dividends paid per common share 1.193 1.06 2.12 1.86
  1. Six months ended June 30.
  2. Adjusted earnings before interest and income taxes (adjusted EBIT), adjusted earnings and adjusted earnings per common share are non-GAAP measures that do not have any standardized meaning prescribed by GAAP - see Non-GAAP Measures in Enbridge’s annual and quarterly MD&A and financial statements.
  3. These balances are presented net of adjusting items.
  4. ACFFO is defined as cash flow provided by operating activities before changes in operating assets and liabilities (including environmental liabilities) less distributions to noncontrolling interests and redeemable noncontrolling interests, preference share dividends and maintenance capital expenditures, and further adjusted for unusual, non-recurring or non-operating factors. ACFFO and ACFFO per common share are non-GAAP measures that do not have any standardized meaning prescribed by GAAP- see Non-GAAP Measures in Enbridge’s annual and quarterly MD&A and financial statements.

Additional detail regarding Enbridge's financial results can be found in the Company’s latest Reports and Filings.

Consolidated Statements of Earnings

(CAD$ in millions, except per share amounts)

YTD1 2017 YTD1 2016 2016 2015
Revenues 22,262 16,734 34,560 33,794
Expenses 19,220 14,266 31,979 31,932
Operating income 3,042 2,468 2,581 1,862
Income from equity investments 472 189 428 475
Other income/(expense) 214 250 1,032 (702)
Interest expense (1,051) (781) (1,590) (1,624)
2,677 2,126 2,451 11
Income taxes recovery/(expense) (491) (427) (142) (170)
Earnings/(loss) 2,186 1,699 2,309 (159)
Earnings/(loss) attributable to noncontrolling interests and redeemable noncontrolling interests (465) (41) (240) 410
Earnings/(loss) attributable to Enbridge Inc. 1,721 1,658 2,069 251
Preference share dividends (164) (144) (293) (288)
Earnings/(loss) attributable to Enbridge Inc. common shareholders 1,557 (1,514) 1,776 (37)
Earnings/(loss) per common share attributable to Enbridge Inc. common shareholders:        
Basic 1.11 1.69 1.95 (0.04)
Diluted 1.10 1.67 1.95 (0.04)
  1. Six months ended June 30.

Condensed Statements of Cash Flows

(CAD$ in millions)

YTD1 2017 YTD1 2016 2016 2015
Operating activities 3,710 3,231 5,211 4,571
Investing activities (5,891) (3,932) (5,192) (7,933)
Financing activities 2,124 981 1,102 2,973
Effect of translation of foreign denominated cash and cash equivalents (32) (38) (19) 143
Increase/(decrease) in cash and equivalents (89) 242 1,102 (246)
Cash and cash equivalents at beginning of period 2,117 1,015 1,015 1,261
Cash and cash equivalents at end of year 2,028 1,257 2,117 1,015
  1. Six months ended June 30.

Condensed Statements of Financial Position

(CAD$ in millions)

YTD1 2017 20162 20152
Assets:        
Current assets 9,147 8,410 7,597
Property, plant and equipment, net 99,462 64,284 64,434
Long-term investments 14,321 6,836 7,008
Restricted long-term investments 237 90 49
Deferred amounts and other assets 6,098 3,113 3,160
Intangible assets, net 4,061 1,573 1,348
Goodwill 34,581 78 80
Deferred income taxes 1,129 1,170 839
Assets held for sale3 - 278 -
Total assets 169,036 85,832 84,515
Liabilities and equity        
Current liabilities 12,890 12,966 10,814
Long-term debt 62,081 36,494 39,391
Other long-term liabilities 6,939 4,981 6,056
Deferred income taxes 14,484 6,036 5,915
Total liabilities 96,394 60,477 62,176
Redeemable noncontrolling interests 3,712 3,392 2,141
Total Enbridge Inc. shareholders’ equity 58,679 21,386 18,898
Noncontrolling interests 10,251 577 1,300
Total equity and noncontrolling interests 68,930 21,963 20,198
Total liabilities and equity 169,036 85,832 84,515
  1. As of June 30, 2016.
  2. As of December 31.
  3. See Note 6 in Enbridge’s 2016 Financial Statements and Notes.