Enbridge (ENB) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-10934
Entity Registrant Name	ENBRIDGE INC.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-0377957
Entity Address, Address Line One	200, 425 - 1st Street S.W.
Entity Address, City or Town	Calgary
Entity Address, State or Province	AB
Entity Address, Country	CA
Entity Address, Postal Zip Code	T2P 3L8
City Area Code	403
Local Phone Number	231-3900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,026,382,505
Entity Central Index Key	0000895728
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Common shares
Entity Information [Line Items]
Title of 12(b) Security	Common Shares
Trading Symbol	ENB
Security Exchange Name	NYSE
6.375% Fixed-to-Floating Rate Subordinated Notes Series 2018-B due 2078
Entity Information [Line Items]
Title of 12(b) Security	6.375% Fixed-to-Floating Rate Subordinated Notes Series 2018-B due 2078
Trading Symbol	ENBA
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating revenues
Total operating revenues	$ 15,097	$ 12,137
Operating expenses
Operating and administrative	1,875	1,559
Depreciation and amortization	1,055	932
Total operating expenses	12,677	9,639
Operating income/(loss)	2,420	2,498
Income from equity investments	491	395
Other income
Net foreign currency gain	369	152
Other	89	109
Interest expense	(719)	(657)
Earnings before income taxes	2,650	2,497
Income tax expense (Note 9)	(593)	(483)
Earnings	2,057	2,014
Earnings attributable to noncontrolling interests	(28)	(22)
Earnings attributable to controlling interests	2,029	1,992
Preference share dividends	(102)	(92)
Earnings attributable to common shareholders	$ 1,927	$ 1,900
Earnings per common share attributable to common shareholders (in Canadian dollars per share)	$ 0.95	$ 0.94
Diluted earnings per common share attributable to common shareholders (in Canadian dollars per share)	$ 0.95	$ 0.94
Commodity sales
Operating revenues
Total operating revenues	$ 8,325	$ 6,429
Operating expenses
Commodity costs and Gas distribution costs	8,291	6,198
Transportation and other services
Operating revenues
Total operating revenues	4,674	4,168
Gas distribution revenue
Operating revenues
Total operating revenues	2,098	1,540
Operating expenses
Commodity costs and Gas distribution costs	$ 1,456	$ 950

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Earnings	$ 2,057	$ 2,014
Other comprehensive income/(loss), net of tax
Change in unrealized gain on cash flow hedges	294	370
Change in unrealized gain on net investment hedges	133	93
Other comprehensive loss from equity investees	0	(22)
Excluded components of fair value hedges	(1)	(1)
Reclassification to earnings of loss on cash flow hedges	57	52
Reclassification to earnings of pension and other postretirement benefits (OPEB) amounts	(2)	5
Foreign currency translation adjustments	(708)	(796)
Other comprehensive loss, net of tax	(227)	(299)
Comprehensive income	1,830	1,715
Comprehensive (income)/loss attributable to noncontrolling interests	(13)	3
Comprehensive income attributable to controlling interests	1,817	1,718
Preference share dividends	(102)	(92)
Comprehensive income attributable to common shareholders	$ 1,715	$ 1,626

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CAD ($) $ in Millions	Total	Preference shares	Common shares	Additional paid-in capital	Deficit	Accumulated other comprehensive loss	Reciprocal shareholding	Total Enbridge Inc. shareholders’ equity	Noncontrolling interests
Balance at the beginning of the period at Dec. 31, 2020		$ 7,747	$ 64,768	$ 277	$ (9,995)	$ (1,401)	$ (29)		$ 2,996
Increase (Decrease) in Stockholders' Equity
Redemption of preference shares		0
Options exercised			4	(3)
Share purchases at stated value			0
Other			0	0
Stock-based compensation				11
Change in reciprocal interest				39			12
Earnings attributable to controlling interests	$ 1,992				1,992
Preference share dividends					(92)
Dividends paid to reciprocal shareholder					3
Share purchases in excess of stated value					0
Other comprehensive loss attributable to common shareholders, net of tax						(274)			(25)
Earnings attributable to noncontrolling interests									22
Change in unrealized gain/(loss) on cash flow hedges									(3)
Foreign currency translation adjustments									(22)
Comprehensive income/(loss) attributable to noncontrolling interests	3								(3)
Distributions									(66)
Contributions									3
Other					(1)				0
Balance at the end of the period at Mar. 31, 2021	$ 65,988	7,747	64,772	324	(8,093)	(1,675)	(17)	$ 63,058	2,930
Increase (Decrease) in Stockholders' Equity
Common stock, dividends per share, paid (in dollars per share)	$ 0.835
Balance at the beginning of the period at Dec. 31, 2021	$ 63,368	7,747	64,799	365	(10,989)	(1,096)	0		2,542
Increase (Decrease) in Stockholders' Equity
Redemption of preference shares		(737)
Options exercised			36	(34)
Share purchases at stated value			(30)
Other			(4)	(28)
Stock-based compensation				13
Change in reciprocal interest				0			0
Earnings attributable to controlling interests	2,029				2,029
Preference share dividends					(102)
Dividends paid to reciprocal shareholder					0
Share purchases in excess of stated value					(20)
Other comprehensive loss attributable to common shareholders, net of tax						(212)			(15)
Earnings attributable to noncontrolling interests									28
Change in unrealized gain/(loss) on cash flow hedges									2
Foreign currency translation adjustments									(17)
Comprehensive income/(loss) attributable to noncontrolling interests	(13)								13
Distributions									(60)
Contributions									6
Other					0				35
Balance at the end of the period at Mar. 31, 2022	$ 64,273	$ 7,010	$ 64,801	$ 316	$ (9,082)	$ (1,308)	$ 0	$ 61,737	$ 2,536
Increase (Decrease) in Stockholders' Equity
Common stock, dividends per share, paid (in dollars per share)	$ 0.860

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Earnings	$ 2,057	$ 2,014
Adjustments to reconcile earnings to net cash provided by operating activities:
Depreciation and amortization	1,055	932
Deferred income tax expense	423	369
Unrealized derivative fair value gain, net (Note 8)	(369)	(315)
Income from equity investments	(491)	(395)
Distributions from equity investments	394	388
(Gain)/loss on dispositions	2	(41)
Other	120	30
Changes in operating assets and liabilities	(252)	(418)
Net cash provided by operating activities	2,939	2,564
Investing activities
Capital expenditures	(1,048)	(2,059)
Long-term investments and restricted long-term investments	(314)	(61)
Distributions from equity investments in excess of cumulative earnings	97	61
Additions to intangible assets	(53)	(65)
Proceeds from disposition	0	122
Affiliate loans, net	0	44
Net cash used in investing activities	(1,318)	(1,958)
Financing activities
Net change in short-term borrowings	89	(27)
Net change in commercial paper and credit facility draws	(283)	1,727
Debenture and term note issues, net of issue costs	2,643	629
Debenture and term note repayments	(1,155)	(912)
Contributions from noncontrolling interests	6	3
Distributions to noncontrolling interests	(60)	(66)
Common shares issued	2	0
Common shares repurchased	(50)	0
Preference share dividends	(91)	(92)
Common share dividends	(1,742)	(1,691)
Redemption of preferred shares held by subsidiary	0	(115)
Redemption of preference shares	(750)	0
Other	(92)	(21)
Net cash used in financing activities	(1,483)	(565)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash	(4)	(7)
Net increase in cash and cash equivalents and restricted cash	134	34
Cash and cash equivalents and restricted cash at beginning of period	320	490
Cash and cash equivalents and restricted cash at end of period	$ 454	$ 524

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 413	$ 286
Restricted cash	41	34
Accounts receivable and other	8,408	6,862
Accounts receivable from affiliates	220	107
Inventory	1,212	1,670
Total current assets	10,294	8,959
Property, plant and equipment, net	99,346	100,067
Long-term investments	13,361	13,324
Restricted long-term investments	594	630
Deferred amounts and other assets	9,123	8,613
Intangible assets, net	3,895	4,008
Goodwill	32,503	32,775
Deferred income taxes	275	488
Total assets	169,391	168,864
Current liabilities
Short-term borrowings	1,604	1,515
Accounts payable and other	8,512	9,767
Accounts payable to affiliates	112	90
Interest payable	605	693
Current portion of long-term debt	4,379	6,164
Total current liabilities	15,212	18,229
Long-term debt	70,490	67,961
Other long-term liabilities	7,431	7,617
Deferred income taxes	11,985	11,689
Total liabilities	105,118	105,496
Contingencies (Note 11)
Share capital
Preference shares	7,010	7,747
Common shares (2,026 outstanding at March 31, 2022 and December 31, 2021)	64,801	64,799
Additional paid-in capital	316	365
Deficit	(9,082)	(10,989)
Accumulated other comprehensive loss (Note 7)	(1,308)	(1,096)
Total Enbridge Inc. shareholders' equity	61,737	60,826
Noncontrolling interests	2,536	2,542
Total equity	64,273	63,368
Total liabilities and equity	$ 169,391	$ 168,864

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - shares shares in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common shares, outstanding (in shares)	2,026	2,026

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements of Enbridge Inc. ("we", "our", "us" and "Enbridge") have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP) and Regulation S-X for interim consolidated financial information. They do not include all of the information and notes required by US GAAP for annual consolidated financial statements and should therefore be read in conjunction with our audited consolidated financial statements and notes for the year ended December 31, 2021. In the opinion of management, the interim consolidated financial statements contain all normal recurring adjustments necessary to present fairly our financial position, results of operations and cash flows for the interim periods reported. These interim consolidated financial statements follow the same significant accounting policies as those included in our audited consolidated financial statements for the year ended December 31, 2021, except for the adoption of new standards (Note 2) . Amounts are stated in Canadian dollars unless otherwise noted. Our operations and earnings for interim periods can be affected by seasonal fluctuations within the gas distribution utility businesses, as well as other factors such as supply of and demand for crude oil and natural gas, and may not be indicative of annual results. Certain comparative figures in our interim consolidated financial statements have been reclassified to conform to the current year's presentation.

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
CHANGES IN ACCOUNTING POLICIES	CHANGES IN ACCOUNTING POLICIES ADOPTION OF NEW ACCOUNTING STANDARDS Disclosures About Government Assistance Effective January 1, 2022, we adopted Accounting Standards Update (ASU) 2021-10 on a prospective basis. The new standard was issued in November 2021 to increase the transparency of government assistance to business entities. The ASU adds new disclosure requirements for transactions with governments that are accounted for using a grant or contribution accounting model by analogy. The required disclosures include information about the nature of transactions, accounting policy applied, impacted financial statement line items and significant terms and conditions. The adoption of this ASU did not have a material impact on our consolidated financial statements. Accounting for Certain Lessor Leases with Variable Lease Payments Effective January 1, 2022, we adopted ASU 2021-05 on a prospective basis. The new standard was issued in July 2021 to amend lessor accounting for certain leases with variable lease payments that do not depend on a reference index or a rate and would have resulted in the recognition of a loss at lease commencement if classified as a sales-type or a direct financing lease. The ASU amends the classification requirements of such leases for lessors to result in an operating lease classification. The adoption of this ASU did not have a material impact on our consolidated financial statements. Accounting for Modifications or Exchanges of Certain Equity-Classified Contracts Effective January 1, 2022, we adopted ASU 2021-04 on a prospective basis. The new standard was issued in May 2021 to clarify issuer accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The ASU requires an issuer to determine the accounting for the modification or exchange based on the economic substance of the modification or exchange. The adoption of this ASU did not have a material impact on our consolidated financial statements. Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Effective January 1, 2022, we adopted ASU 2020-06 on a modified retrospective basis. The new standard was issued in August 2020 to simplify accounting for certain financial instruments. The ASU eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The ASU also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. The ASU amends the diluted earnings per share guidance, including the requirement to use if-converted method for all convertible instruments and an update for instruments that can be settled in either cash or shares. The adoption of this ASU did not have a material impact on our consolidated financial statements.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE REVENUE FROM CONTRACTS WITH CUSTOMERS Major Products and Services Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,685 1,194 251 — — — 4,130 Storage and other revenue 51 84 47 — — — 182 Gas gathering and processing revenue — 15 — — — — 15 Gas distribution revenue — — 2,098 — — — 2,098 Electricity and transmission revenue — — — 62 — — 62 Total revenue from contracts with customers 2,736 1,293 2,396 62 — — 6,487 Commodity sales — — — — 8,325 — 8,325 Other revenue 1,2 178 7 4 94 2 — 285 Intersegment revenue 141 — 11 — 10 (162) — Total revenue 3,055 1,300 2,411 156 8,337 (162) 15,097 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,329 1,121 216 — — — 3,666 Storage and other revenue 26 74 58 — — — 158 Gas gathering and processing revenue — 7 — — — — 7 Gas distribution revenue — — 1,534 — — — 1,534 Electricity and transmission revenue — — — 26 — — 26 Total revenue from contracts with customers 2,355 1,202 1,808 26 — — 5,391 Commodity sales — — — — 6,429 — 6,429 Other revenue 1,2 212 12 6 91 — (4) 317 Intersegment revenue 132 — 9 — 4 (145) — Total revenue 2,699 1,214 1,823 117 6,433 (149) 12,137 1 Includes mark-to-market gains from our hedging program for the three months ended March 31, 2022 and 2021 of $94 million and $130 million, respectively. 2 Includes revenues from lease contracts for the three months ended March 31, 2022 and 2021 of $164 million and $159 million, respectively. We disaggregate revenue into categories which represent our principal performance obligations within each business segment. These revenue categories represent the most significant revenue streams in each segment and consequently are considered to be the most relevant revenue information for management to consider in evaluating performance. Contract Balances Contract Receivables Contract Assets Contract Liabilities (millions of Canadian dollars) Balance as at March 31, 2022 2,784 216 1,913 Balance as at December 31, 2021 2,369 213 1,898 Contract receivables represent the amount of receivables derived from contracts with customers. Contract assets represent the amount of revenue which has been recognized in advance of payments received for performance obligations we have fulfilled (or partially fulfilled) and prior to the point in time at which our right to the payment is unconditional. Amounts included in contract assets are transferred to accounts receivable when our right to the consideration becomes unconditional. Contract liabilities represent payments received for performance obligations which have not been fulfilled. Contract liabilities primarily relate to make-up rights and deferred revenue. Revenue recognized during the three months ended March 31, 2022 included in contract liabilities at the beginning of the period is $61 million. Increases in contract liabilities from cash received, net of amounts recognized as revenue during the three months ended March 31, 2022 were $97 million. Performance Obligations There was no material revenue recognized in the three months ended March 31, 2022 from performance obligations satisfied in previous periods. Revenue to be Recognized from Unfulfilled Performance Obligations Total revenue from performance obligations expected to be fulfilled in future periods is $58.3 billion, of which $5.5 billion and $6.1 billion are expected to be recognized during the remaining nine months ending December 31, 2022 and year ending December 31, 2023, respectively. The revenues excluded from the amounts above based on optional exemptions available under Accounting Standards Codification (ASC) 606, as explained below, represent a significant portion of our overall revenues and revenues from contracts with customers. Certain revenues such as flow-through operating costs charged to shippers are recognized at the amount for which we have the right to invoice our customers and are excluded from the amounts for revenue to be recognized in the future from unfulfilled performance obligations above. Variable consideration is excluded from the amounts above due to the uncertainty of the associated consideration, which is generally resolved when actual volumes and prices are determined. For example, we consider interruptible transportation service revenues to be variable revenues since volumes cannot be estimated. Additionally, the effect of escalation on certain tolls which are contractually escalated for inflation has not been reflected in the amounts above as it is not possible to reliably estimate future inflation rates. Revenues for periods extending beyond the current rate settlement term for regulated contracts where the tolls are periodically reset by the regulator are excluded from the amounts above since future tolls remain unknown. Finally, revenues from contracts with customers which have an original expected duration of one year or less are excluded from the amounts above. Variable Consideration During the three months ended March 31, 2022, revenue for the Canadian Mainline has been recognized in accordance with the terms of the Competitive Tolling Settlement, which expired on June 30, 2021. The tolls in place on June 30, 2021 continue on an interim basis until a new commercial arrangement is implemented and are subject to finalization and adjustment applicable to the interim period, if any. Due to the uncertainty of adjustment to tolling pursuant to a Canada Energy Regulator decision and potential customer negotiations, interim toll revenue recognized during the three months ended March 31, 2022 is considered variable consideration. Recognition and Measurement of Revenues Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended (millions of Canadian dollars) Revenue from products transferred at a point in time — — 16 — 16 Revenue from products and services transferred over time 1 2,736 1,293 2,380 62 6,471 Total revenue from contracts with customers 2,736 1,293 2,396 62 6,487 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended (millions of Canadian dollars) Revenue from products transferred at a point in time — — 17 — 17 Revenue from products and services transferred over time 1 2,355 1,202 1,791 26 5,374 Total revenue from contracts with customers 2,355 1,202 1,808 26 5,391 1 Revenue from crude oil and natural gas pipeline transportation, storage, natural gas gathering, compression and treating, natural gas distribution, natural gas storage services and electricity sales.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENTED INFORMATION	SEGMENTED INFORMATION Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Operating revenues 3,055 1,300 2,411 156 8,337 (162) 15,097 Commodity and gas distribution costs (11) — (1,468) (4) (8,427) 163 (9,747) Operating and administrative (947) (530) (299) (48) (14) (37) (1,875) Income from equity investments 215 221 — 55 — — 491 Other income 17 23 21 3 3 391 458 Earnings/(loss) before interest, income taxes, and depreciation and amortization 2,329 1,014 665 162 (101) 355 4,424 Depreciation and amortization (1,055) Interest expense (719) Income tax expense (593) Earnings 2,057 Capital expenditures 1 545 229 266 6 — 12 1,058 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended March 31, 2021 (millions of Canadian dollars) Operating revenues 2,699 1,214 1,823 117 6,433 (149) 12,137 Commodity and gas distribution costs (3) — (958) — (6,353) 166 (7,148) Operating and administrative (819) (434) (272) (43) (14) 23 (1,559) Income from equity investments 154 182 22 37 — — 395 Other income/(expense) 8 11 19 45 (2) 180 261 Earnings before interest, income taxes, and depreciation and amortization 2,039 973 634 156 64 220 4,086 Depreciation and amortization (932) Interest expense (657) Income tax expense (483) Earnings 2,014 Capital expenditures 1 1,195 482 219 5 — 12 1,913 1 Includes allowance for equity funds used during construction.

EARNINGS PER COMMON SHARE AND D

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE BASIC Earnings per common share is calculated by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding. On December 30, 2021, we closed the sale of our minority ownership of Noverco Inc. (Noverco). For the three months ended March 31, 2021, the weighted average number of common shares outstanding was reduced by our pro-rata weighted average interest in our own common shares of approximately 3 million, resulting from our reciprocal investment in Noverco. DILUTED The treasury stock method is used to determine the dilutive impact of stock options. This method assumes any proceeds from the exercise of stock options would be used to purchase common shares at the average market price during the period. Weighted average shares outstanding used to calculate basic and diluted earnings per share are as follows: Three months ended 2022 2021 (number of shares in millions) Weighted average shares outstanding 2,026 2,022 Effect of dilutive options 3 1 Diluted weighted average shares outstanding 2,029 2,023 For the three months ended March 31, 2022 and 2021, 12.9 million and 27.6 million, respectively, of anti-dilutive stock options with a weighted average exercise price of $56.09 and $51.42, respectively, were excluded from the diluted earnings per common share calculation. DIVIDENDS PER SHARE On May 3, 2022, our Board of Directors declared the following quarterly dividends. All dividends are payable on June 1, 2022 to shareholders of record on May 13, 2022. Dividend per share Common Shares 1 $0.86000 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.21340 Preference Shares, Series C 2 $0.18400 Preference Shares, Series D $0.27875 Preference Shares, Series F $0.29306 Preference Shares, Series H $0.27350 Preference Shares, Series J 3 US$0.30540 Preference Shares, Series L US$0.30993 Preference Shares, Series N $0.31788 Preference Shares, Series P $0.27369 Preference Shares, Series R $0.25456 Preference Shares, Series 1 US$0.37182 Preference Shares, Series 3 $0.23356 Preference Shares, Series 5 US$0.33596 Preference Shares, Series 7 $0.27806 Preference Shares, Series 9 $0.25606 Preference Shares, Series 11 $0.24613 Preference Shares, Series 13 $0.19019 Preference Shares, Series 15 $0.18644 Preference Shares, Series 19 $0.30625 1 The quarterly dividend per common share was increased 3% to $0.86 from $0.835, effective March 1, 2022. 2 The quarterly dividend per share paid on Series C was increased to $0.18400 from $0.15719 on March 1, 2022, due to reset on a quarterly basis following the date of issuance of the Series C Preference Shares. 3 On May 2, 2022, we notified holders of our outstanding Cumulative Redeemable Preference Shares, Series J (Series J Shares) (TSX: ENB.PR.U) of our intention to redeem all US$200 million outstanding Series J Shares on June 1, 2022.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT CREDIT FACILITIES The following table provides details of our committed credit facilities as at March 31, 2022: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2022 - 2026 7,616 7,012 604 Enbridge (U.S.) Inc. 2023 - 2026 6,870 5,351 1,519 Enbridge Pipelines Inc. 2023 3,000 627 2,373 Enbridge Gas Inc. 2023 2,000 1,604 396 Total committed credit facilities 19,486 14,594 4,892 1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities. On February 10, 2022, we renewed our three year $1.0 billion sustainability-linked credit facility, extending the maturity date out to July 2025. In addition to the committed credit facilities noted above, we maintain $1.3 billion of uncommitted demand letter of credit facilities, of which $947 million was unutilized as at March 31, 2022. As at December 31, 2021, we had $1.3 billion of uncommitted demand letter of credit facilities, of which $854 million was unutilized. Our credit facilities carry a weighted average standby fee of 0.1% per annum on the unused portion and draws bear interest at market rates. Certain credit facilities serve as a back-stop to the commercial paper programs and we have the option to extend such facilities, which are currently scheduled to mature from 2022 to 2026. As at March 31, 2022 and December 31, 2021, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $12.4 billion and $11.3 billion, respectively, were supported by the availability of long-term committed credit facilities and, therefore, have been classified as long-term debt. LONG-TERM DEBT ISSUANCES During the three months ended March 31, 2022, we completed the following long-term debt issuances totaling US$1.5 billion and $750 million: Company Issue Date Principal Amount (millions of Canadian dollars unless otherwise stated) Enbridge Inc. January 2022 5.00% hybrid fixed-to-fixed subordinated notes due January 2082 $750 February 2022 Floating rate senior notes due February 2024 1 US$600 February 2022 2.15% senior notes due February 2024 US$400 February 2022 2.50% senior notes due February 2025 US$500 1 Notes carry an interest rate set to equal Secured Overnight Financing Rate plus a margin of 63 basis points. LONG-TERM DEBT REPAYMENTS During the three months ended March 31, 2022, we completed the following long-term debt repayments totaling $200 million and US$750 million: Company Repayment Date Principal Amount (millions of Canadian dollars unless otherwise stated) Enbridge Inc. February 2022 Floating rate notes 1 US$750 February 2022 4.85% medium-term notes $200 1 Notes carried an interest rate set to equal the three-month London Interbank Offered Rate plus a margin of 50 basis points. SUBORDINATED TERM NOTES As at March 31, 2022 and December 31, 2021, our fixed-to-floating rate and fixed-to-fixed rate subordinated term notes had a principal value of $8.4 billion and $7.7 billion, respectively. FAIR VALUE ADJUSTMENT As at March 31, 2022 and December 31, 2021, the net fair value adjustments to total debt assumed in a historical acquisition were $646 million and $667 million, respectively. During the three months ended March 31, 2022 and 2021, amortization of the fair value adjustment recorded as a reduction to Interest expense in the Consolidated Statements of Earnings was $11 million and $12 million, respectively. DEBT COVENANTS Our credit facility agreements and term debt indentures include standard events of default and covenant provisions whereby accelerated repayment and/or termination of the agreements may result if we were to default on payment or violate certain covenants. As at March 31, 2022, we were in compliance with all covenant provisions.

COMPONENTS OF ACCUMULATED OTHER

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS	COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS Changes in Accumulated other comprehensive loss (AOCI) attributable to our common shareholders for the three months ended March 31, 2022 and 2021 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2022 (897) — (166) 56 (5) (84) (1,096) Other comprehensive income/(loss) retained in AOCI 384 (1) 133 (691) — — (175) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 76 — — — — — 76 Commodity contracts 2 — — — — — — — Foreign exchange contracts 3 (4) — — — — — (4) Other contracts 4 2 — — — — — 2 Amortization of pension and OPEB actuarial gain 5 — — — — — (3) (3) 458 (1) 133 (691) — (3) (104) Tax impact Income tax on amounts retained in AOCI (92) — — — — — (92) Income tax on amounts reclassified to earnings (17) — — — — 1 (16) (109) — — — — 1 (108) Balance as at March 31, 2022 (548) (1) (33) (635) (5) (86) (1,308) Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2021 (1,326) 5 (215) 568 66 (499) (1,401) Other comprehensive income/(loss) retained in AOCI 493 (1) 105 (774) (26) — (203) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 63 — — — — — 63 Commodity contracts 2 1 — — — — — 1 Foreign exchange contracts 3 1 — — — — — 1 Amortization of pension and OPEB actuarial loss 5 — — — — — 7 7 Other 17 — — (20) 3 — — 575 (1) 105 (794) (23) 7 (131) Tax impact Income tax on amounts retained in AOCI (120) — (12) — 4 — (128) Income tax on amounts reclassified to earnings (13) — — — — (2) (15) (133) — (12) — 4 (2) (143) Balance as at March 31, 2021 (884) 4 (122) (226) 47 (494) (1,675) 1 Reported within Interest expense in the Consolidated Statements of Earnings. 2 Reported within Transportation and other services revenues, Commodity sales revenue, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings. 3 Reported within Transportation and other services revenues and Net foreign currency gain in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. 5 These components are included in the computation of net periodic benefit costs and are reported within Other income in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL I

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	RISK MANAGEMENT AND FINANCIAL INSTRUMENTS MARKET RISK Our earnings, cash flows and other comprehensive income/(loss) (OCI) are subject to movements in foreign exchange rates, interest rates, commodity prices and our share price (collectively, market risks). Formal risk management policies, processes and systems have been designed to mitigate these risks. The following summarizes the types of market risks to which we are exposed and the risk management instruments used to mitigate them. We use a combination of qualifying and non-qualifying derivative instruments to manage the risks noted below. Foreign Exchange Risk We generate certain revenues, incur expenses, and hold a number of investments and subsidiaries that are denominated in currencies other than Canadian dollars. As a result, our earnings, cash flows and OCI are exposed to fluctuations resulting from foreign exchange rate variability. We employ financial derivative instruments to hedge foreign currency denominated earnings exposure. A combination of qualifying cash flow, fair value and non-qualifying derivative instruments is used to hedge anticipated foreign currency denominated revenues and expenses, and to manage variability in cash flows. We hedge certain net investments in United States (US) dollar denominated investments and subsidiaries using US dollar denominated debt. Interest Rate Risk Our earnings and cash flows are exposed to short-term interest rate variability due to the regular repricing of our variable rate debt, primarily commercial paper. We monitor our debt portfolio mix of fixed and variable rate debt instruments to manage a consolidated portfolio of floating rate debt within the Board of Directors approved policy limit of a maximum of 30% of floating rate debt as a percentage of total debt outstanding. We primarily use qualifying derivative instruments to manage interest rate risk. Pay fixed-receive floating interest rate swaps may be used to hedge against the effect of future interest rate movements. We have implemented a program to mitigate the impact of short-term interest rate volatility on interest expense via execution of floating to fixed interest rate swaps with an average swap rate of 2.1%. We are exposed to changes in the fair value of fixed rate debt that arise as a result of the changes in market interest rates. Pay floating-receive fixed interest rate swaps are used, when applicable, to hedge against future changes to the fair value of fixed rate debt which mitigates the impact of fluctuations in the fair value of fixed rate debt via execution of fixed to floating interest rate swaps. As at March 31, 2022, we do not have any pay floating-receive fixed interest rate swaps outstanding. Our earnings and cash flows are also exposed to variability in longer term interest rates ahead of anticipated fixed rate term debt issuances. Forward starting interest rate swaps are used to hedge against the effect of future interest rate movements. We have established a program including some of our subsidiaries to mitigate our exposure to long-term interest rate variability on select forecast term debt issuances via execution of floating to fixed interest rate swaps with an average swap rate of 2.1%. Commodity Price Risk Our earnings and cash flows are exposed to changes in commodity prices as a result of our ownership interests in certain assets and investments, as well as through the activities of our energy services subsidiaries. These commodities include natural gas, crude oil, power and NGL. We employ financial and physical derivative instruments to fix a portion of the variable price exposures that arise from physical transactions involving these commodities. We use primarily non-qualifying derivative instruments to manage commodity price risk. Equity Price Risk Equity price risk is the risk of earnings fluctuations due to changes in our share price. We have exposure to our own common share price through the issuance of various forms of stock-based compensation, which affect earnings through revaluation of the outstanding units every period. We use equity derivatives to manage the earnings volatility derived from one form of stock-based compensation, restricted share units. We use a combination of qualifying and non-qualifying derivative instruments to manage equity price risk. TOTAL DERIVATIVE INSTRUMENTS We generally have a policy of entering into individual International Swaps and Derivatives Association, Inc. agreements, or other similar derivative agreements, with the majority of our financial derivative counterparties. These agreements provide for the net settlement of derivative instruments outstanding with specific counterparties in the event of bankruptcy or other significant credit events, and reduce our credit risk exposure on financial derivative asset positions outstanding with the counterparties in those circumstances. The following table summarizes the Consolidated Statements of Financial Position location and carrying value of our derivative instruments, as well as the maximum potential settlement amounts in the event of the specific circumstances described above. All amounts are presented gross in the Consolidated Statements of Financial Position. March 31, 2022 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Accounts receivable and other Foreign exchange contracts — — 342 342 (52) 290 Interest rate contracts 149 — — 149 — 149 Commodity contracts — — 274 274 (186) 88 Other contracts 3 — 7 10 — 10 152 — 623 775 (238) 537 Deferred amounts and other assets Foreign exchange contracts — — 470 470 (142) 328 Interest rate contracts 283 — — 283 — 283 Commodity contracts — — 56 56 (23) 33 Other contracts 3 — 2 5 — 5 286 — 528 814 (165) 649 Accounts payable and other Foreign exchange contracts — — (187) (187) 52 (135) Interest rate contracts (28) — (23) (51) — (51) Commodity contracts (14) — (381) (395) 186 (209) (42) — (591) (633) 238 (395) Other long-term liabilities Foreign exchange contracts — (37) (292) (329) 142 (187) Interest rate contracts (4) — — (4) — (4) Commodity contracts (13) — (96) (109) 23 (86) (17) (37) (388) (442) 165 (277) Total net derivative assets/(liabilities) Foreign exchange contracts — (37) 333 296 — 296 Interest rate contracts 400 — (23) 377 — 377 Commodity contracts (27) — (147) (174) — (174) Other contracts 6 — 9 15 — 15 379 (37) 172 514 — 514 December 31, 2021 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Accounts receivable and other Foreign exchange contracts — — 259 259 (41) 218 Interest rate contracts 64 — — 64 — 64 Commodity contracts — — 204 204 (129) 75 Other contracts — — 2 2 — 2 64 — 465 529 (170) 359 Deferred amounts and other assets Foreign exchange contracts — — 240 240 (61) 179 Interest rate contracts 88 — — 88 (1) 87 Commodity contracts — — 29 29 (13) 16 Other contracts — — 3 3 — 3 88 — 272 360 (75) 285 Accounts payable and other Foreign exchange contracts (15) (112) (176) (303) 41 (262) Interest rate contracts (150) — — (150) — (150) Commodity contracts (14) — (250) (264) 129 (135) (179) (112) (426) (717) 170 (547) Other long-term liabilities Foreign exchange contracts — — (423) (423) 61 (362) Interest rate contracts (1) — (23) (24) 1 (23) Commodity contracts (17) — (67) (84) 13 (71) (18) — (513) (531) 75 (456) Total net derivative assets/(liabilities) Foreign exchange contracts (15) (112) (100) (227) — (227) Interest rate contracts 1 — (23) (22) — (22) Commodity contracts (31) — (84) (115) — (115) Other contracts — — 5 5 — 5 (45) (112) (202) (359) — (359) The following table summarizes the maturity and notional principal or quantity outstanding related to our derivative instruments. March 31, 2022 2022 2023 2024 2025 2026 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 848 — 1,000 500 — — 2,348 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 7,544 5,794 4,544 3,372 2,772 492 24,518 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 21 29 30 30 28 32 170 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 95 92 91 86 85 343 792 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) 52,500 — — — — — 52,500 Interest rate contracts - short-term debt pay fixed rate (millions of Canadian dollars) 536 796 128 30 26 64 1,580 Interest rate contracts - long-term debt pay fixed rate (millions of Canadian dollars) 2,549 2,587 1,687 562 — — 7,385 Equity contracts (millions of Canadian dollars) — 26 21 — — — 47 Commodity contracts - natural gas (billions of cubic feet) 1 172 33 13 11 — — 229 Commodity contracts - crude oil (millions of barrels) 1 10 (1) — — — — 9 Commodity contracts - power (megawatt per hour) (MW/H) (14) (43) (43) (43) — — (37) 2 1 Total is a net purchase/(sale) of underlying commodity. 2 Total is an average net purchase/(sale) of power. Fair Value Derivatives For foreign exchange derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative is included in Net foreign currency gain or Interest expense in the Consolidated Statements of Earnings. The offsetting loss or gain on the hedged item attributable to the hedged risk is included in Net foreign currency gain in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended 2022 2021 (millions of Canadian dollars) Unrealized gain/(loss) on derivative 76 (3) Unrealized loss on hedged item (87) (4) Realized loss on derivative (75) (39) Realized gain on hedged item 85 45 The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income The following table presents the effect of cash flow hedges, fair value hedges and net investment hedges on our consolidated earnings and consolidated comprehensive income, before the effect of income taxes: Three months ended 2022 2021 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Foreign exchange contracts 2 (20) Interest rate contracts 377 497 Commodity contracts 4 (8) Other contracts 3 3 Fair value hedges Foreign exchange contracts (1) (1) 385 471 Amount of loss reclassified from AOCI to earnings Foreign exchange contracts 1 13 1 Interest rate contracts 2 76 63 Commodity contracts — 1 Other contracts 3 2 — 91 65 1 Reported within Transportation and other services revenues and Net foreign currency gain/(loss) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. We estimate that a gain of $3 million of AOCI related to unrealized cash flow hedges will be reclassified to earnings in the next 12 months. Actual amounts reclassified to earnings depend on the foreign exchange rates, interest rates and commodity prices in effect when derivative contracts that are currently outstanding mature. For all forecasted transactions, the maximum term over which we are hedging exposures to the variability of cash flows is 45 months as at March 31, 2022. Non-Qualifying Derivatives The following table presents the unrealized gains and losses associated with changes in the fair value of our non-qualifying derivatives: Three months ended 2022 2021 (millions of Canadian dollars) Foreign exchange contracts 1 433 236 Interest rate contracts 2 — 2 Commodity contracts 3 (68) 72 Other contracts 4 4 5 Total unrealized derivative fair value gain/(loss), net 369 315 1 For the respective three months ended periods, reported within Transportation and other services revenues (2022 - $134 million gain; 2021 - $154 million gain) and Net foreign currency gain (2022 - $299 million gain; 2021 - $82 million gain) in the Consolidated Statements of Earnings. 2 Reported as an (increase)/decrease within Interest expense in the Consolidated Statements of Earnings. 3 For the respective three months ended periods, reported within Transportation and other services revenues (2022 - $16 million loss; 2021 - $3 million loss), Commodity sales (2022 - $16 million loss; 2021 - $171 million gain), Commodity costs (2022 - $37 million loss; 2021 - $100 million loss) and Operating and administrative expense (2022 - $1 million gain; 2021 - $4 million gain) in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. LIQUIDITY RISK Liquidity risk is the risk that we will not be able to meet our financial obligations, including commitments and guarantees, as they become due. In order to mitigate this risk, we forecast cash requirements over a 12-month rolling time period to determine whether sufficient funds will be available and maintain substantial capacity under our committed bank lines of credit to address any contingencies. Our primary sources of liquidity and capital resources are funds generated from operations, the issuance of commercial paper and draws under committed credit facilities and long-term debt, which includes debentures and medium-term notes. We also maintain current shelf prospectuses with securities regulators which enables ready access to either the Canadian or US public capital markets, subject to market conditions. In addition, we maintain sufficient liquidity through committed credit facilities with a diversified group of banks and institutions which, if necessary, enables us to fund all anticipated requirements for approximately one year without accessing the capital markets. We are in compliance with all the terms and conditions of our committed credit facility agreements and term debt indentures as at March 31, 2022. As a result, all credit facilities are available to us and the banks are obligated to fund and have been funding us under the terms of the facilities. CREDIT RISK Entering into derivative instruments may result in exposure to credit risk from the possibility that a counterparty will default on its contractual obligations. In order to mitigate this risk, we enter into risk management transactions primarily with institutions that possess strong investment grade credit ratings. Credit risk relating to derivative counterparties is mitigated through maintenance and monitoring of credit exposure limits and contractual requirements, netting arrangements and ongoing monitoring of counterparty credit exposure using external credit rating services and other analytical tools. We have credit concentrations and credit exposure, with respect to derivative instruments, in the following counterparty segments: March 31, December 31, (millions of Canadian dollars) Canadian financial institutions 800 424 US financial institutions 210 130 European financial institutions 347 181 Asian financial institutions 66 30 Other 1 161 122 1,584 887 1 Other is comprised of commodity clearing house and physical natural gas and crude oil counterparties. As at March 31, 2022, we provided letters of credit totaling nil in lieu of providing cash collateral to our counterparties pursuant to the terms of the relevant International Swaps and Derivatives Association agreements. We held no cash collateral on derivative asset exposures as at March 31, 2022 and December 31, 2021. Gross derivative balances have been presented without the effects of collateral posted. Derivative assets are adjusted for non-performance risk of our counterparties using their credit default swap spread rates, and are reflected at fair value. For derivative liabilities, our non-performance risk is considered in the valuation. Credit risk also arises from trade and other long-term receivables, and is mitigated through credit exposure limits and contractual requirements, assessment of credit ratings and netting arrangements. Within Enbridge Gas Inc., credit risk is mitigated by the utility's large and diversified customer base and the ability to recover an estimate for expected credit losses through the ratemaking process. We actively monitor the financial strength of large industrial customers, and in select cases, have obtained additional security to minimize the risk of default on receivables. Generally, we utilize a loss allowance matrix which contemplates historical credit losses by age of receivables, adjusted for any forward-looking information and management expectations to measure lifetime expected credit losses of receivables. The maximum exposure to credit risk related to non-derivative financial assets is their carrying value. FAIR VALUE MEASUREMENTS Our financial assets and liabilities measured at fair value on a recurring basis include derivative and other financial instruments. We also disclose the fair value of other financial instruments not measured at fair value. The fair value of financial instruments reflects our best estimates of market value based on generally accepted valuation techniques or models and is supported by observable market prices and rates. When such values are not available, we use discounted cash flow analysis from applicable yield curves based on observable market inputs to estimate fair value. FAIR VALUE OF FINANCIAL INSTRUMENTS We categorize our financial instruments measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Level 1 Level 1 includes financial instruments measured at fair value based on unadjusted quoted prices for identical assets and liabilities in active markets that are accessible at the measurement date. An active market for a financial instrument is considered to be a market where transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Our Level 1 instruments consist primarily of exchange-traded derivatives used to mitigate the risk of crude oil price fluctuations, as well as restricted long-term investments in Canadian equity securities that are held in trust in accordance with the Canada Energy Regulator's (CER) regulatory requirements under the Land Matters Consultation Initiative (LMCI). Level 2 Level 2 includes financial instrument valuations determined using directly or indirectly observable inputs other than quoted prices included within Level 1. Financial instruments in this category are valued using models or other industry standard valuation techniques derived from observable market data. Such valuation techniques include inputs such as quoted forward prices, time value, volatility factors and broker quotes that can be observed or corroborated in the market for the entire duration of the financial instrument. Derivatives valued using Level 2 inputs include non-exchange traded derivatives such as over-the-counter foreign exchange forward and cross currency swap contracts, interest rate swaps, physical forward commodity contracts, as well as commodity swaps and options for which observable inputs can be obtained. We have also categorized the fair value of our available-for-sale preferred share investment, long-term debt and restricted long-term investments in Canadian government bonds held in trust in accordance with the CER's regulatory requirements under the LMCI as Level 2. The fair value of our available-for-sale preferred share investment is based on the redemption value, which equals the face value plus accrued and unpaid interest periodically reset based on market interest rates. The fair value of our long-term debt is based on quoted market prices for instruments of similar yield, credit risk and tenor. When possible, the fair value of our restricted long-term investments is based on quoted market prices for similar instruments and, if not available, based on broker quotes. Level 3 Level 3 includes derivative valuations based on inputs which are less observable, unavailable or where the observable data does not support a significant portion of the derivatives’ fair value. Generally, Level 3 derivatives are longer dated transactions, occur in less active markets, occur at locations where pricing information is not available or have no binding broker quote to support Level 2 classification. We have developed methodologies, benchmarked against industry standards, to determine fair value for these derivatives based on extrapolation of observable future prices and rates. Derivatives valued using Level 3 inputs primarily include long-dated derivative power, NGL and natural gas contracts, basis swaps, commodity swaps, and power and energy swaps, as well as physical forward commodity contracts. We do not have any other financial instruments categorized in Level 3. We use the most observable inputs available to estimate the fair value of our derivatives. When possible, we estimate the fair value of our derivatives based on quoted market prices. If quoted market prices are not available, we use estimates from third party brokers. For non-exchange traded derivatives classified in Levels 2 and 3, we use standard valuation techniques to calculate the estimated fair value. These methods include discounted cash flows for forwards and swaps and Black-Scholes-Merton pricing models for options. Depending on the type of derivative and nature of the underlying risk, we use observable market prices (interest, foreign exchange, commodity and share price) and volatility as primary inputs to these valuation techniques. Finally, we consider our own credit default swap spread as well as the credit default swap spreads associated with our counterparties in our estimation of fair value. We have categorized our derivative assets and liabilities measured at fair value as follows: March 31, 2022 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 342 — 342 Interest rate contracts — 149 — 149 Commodity contracts 36 172 66 274 Other contracts — 10 — 10 36 673 66 775 Long-term derivative assets Foreign exchange contracts — 470 — 470 Interest rate contracts — 283 — 283 Commodity contracts — 24 32 56 Other contracts — 5 — 5 — 782 32 814 Financial liabilities Current derivative liabilities Foreign exchange contracts — (187) — (187) Interest rate contracts — (51) — (51) Commodity contracts (27) (168) (200) (395) (27) (406) (200) (633) Long-term derivative liabilities Foreign exchange contracts — (329) — (329) Interest rate contracts — (4) — (4) Commodity contracts — (31) (78) (109) — (364) (78) (442) Total net financial assets/(liabilities) Foreign exchange contracts — 296 — 296 Interest rate contracts — 377 — 377 Commodity contracts 9 (3) (180) (174) Other contracts — 15 — 15 9 685 (180) 514 December 31, 2021 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 259 — 259 Interest rate contracts — 64 — 64 Commodity contracts 38 71 95 204 Other contracts — 2 — 2 38 396 95 529 Long-term derivative assets Foreign exchange contracts — 240 — 240 Interest rate contracts — 88 — 88 Commodity contracts — 21 8 29 Other contracts — 3 — 3 — 352 8 360 Financial liabilities Current derivative liabilities Foreign exchange contracts — (303) — (303) Interest rate contracts — (150) — (150) Commodity contracts (52) (66) (146) (264) (52) (519) (146) (717) Long-term derivative liabilities Foreign exchange contracts — (423) — (423) Interest rate contracts — (24) — (24) Commodity contracts — (19) (65) (84) — (466) (65) (531) Total net financial assets/(liabilities) Foreign exchange contracts — (227) — (227) Interest rate contracts — (22) — (22) Commodity contracts (14) 7 (108) (115) Other contracts — 5 — 5 (14) (237) (108) (359) The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments were as follows: March 31, 2022 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas 5 Forward gas price 3.94 9.60 6.24 $/mmbtu 2 Crude (3) Forward crude price 83.47 124.49 106.20 $/barrel Power (54) Forward power price 22.33 121.08 77.14 $/MW/H Commodity contracts - physical 1 Natural gas (97) Forward gas price 3.48 15.02 6.23 $/mmbtu 2 Crude (31) Forward crude price 97.55 139.67 118.41 $/barrel (180) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu). If adjusted, the significant unobservable inputs disclosed in the table above would have a direct impact on the fair value of our Level 3 derivative instruments. The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments include forward commodity prices. Changes in forward commodity prices could result in significantly different fair values for our Level 3 derivatives. Changes in net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Three months ended 2022 2021 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (108) (191) Total gain/(loss) Included in earnings 1 (52) (72) Included in OCI 4 (5) Settlements (24) 149 Level 3 net derivative liability at end of period (180) (119) 1 Reported within Transportation and other services revenues, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings. There were no transfers into or out of Level 3 as at March 31, 2022 or December 31, 2021. NET INVESTMENT HEDGES We currently have designated a portion of our US dollar denominated debt, as well as a portfolio of foreign exchange forward contracts in prior periods, as a hedge of our net investment in US dollar denominated investments and subsidiaries. During the three months ended March 31, 2022 and 2021, we recognized an unrealized foreign exchange gain of $133 million and $105 million, respectively, on the translation of US dollar denominated debt. During the three months ended March 31, 2022 and 2021, we recognized nil on the change in fair value of our outstanding foreign exchange forward contracts in OCI and nil in OCI associated with the settlement of foreign exchange forward contracts or with the settlement of US dollar denominated debt that had matured during the period. FAIR VALUE OF OTHER FINANCIAL INSTRUMENTS Certain long-term investments in other entities with no actively quoted prices are classified as Fair Value Measurement Alternative (FVMA) investments and are recorded at cost less impairment. The carrying value of FVMA investments totaled $52 million as at March 31, 2022 and December 31, 2021. We have Restricted long-term investments held in trust totaling $213 million and $217 million as at March 31, 2022 and December 31, 2021, respectively, which are classified as Level 1 in the fair value hierarchy. We also have Restricted long-term investments held in trust totaling $381 million and $413 million as at March 31, 2022 and December 31, 2021, respectively, which are classified as Level 2 in the fair value hierarchy . Level 1 and Level 2 Restricted long-term investments are recognized at fair value. These securities are classified as restricted funds which are collected from customers and held in trust for the purpose of funding pipeline abandonment in accordance with regulatory requirements. There were unrealized holding losses of $60 million and $45 million for the three months ended March 31, 2022 and 2021, respectively. As at March 31, 2022 and December 31, 2021, our long-term debt had a carrying value of $75.2 billion and $74.4 billion, respectively, before debt issuance costs and a fair value of $75.5 billion and $82.0 billion, respectively. We also have non-current notes receivable carried at book value and recorded in Deferred amounts and other assets in the Consolidated Statements of Financial Position. As at March 31, 2022 and December 31, 2021, the non-current notes receivable had a carrying value of $0.9 billion and $1.0 billion, respectively, which also approximates their fair value. The fair value of financial assets and liabilities other than derivative instruments, long-term investments, restricted long-term investments, long-term debt and non-current notes receivable described above approximate their carrying value due to the short period to maturity.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe effective income tax rates for the three months ended March 31, 2022 and 2021 were 22.4% and 19.3%, respectively. The period-over-period increase in the effective income tax rate is due to the effect of rate-regulated accounting for income taxes relative to earnings and an increase in US minimum tax.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	PENSION AND OTHER POSTRETIREMENT BENEFITS Three months ended March 31, 2022 2021 (millions of Canadian dollars) Service cost 45 48 Interest cost 1 41 32 Expected return on plan assets 1 (98) (84) Amortization of actuarial (gain)/loss 1 (1) 14 Net periodic benefit (credit)/cost (13) 10 1 Reported within Other income in the Consolidated Statements of Earnings.

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
Loss Contingency [Abstract]
CONTINGENCIES	CONTINGENCIES We and our subsidiaries are involved in various legal and regulatory actions and proceedings which arise in the normal course of business, including interventions in regulatory proceedings and challenges to regulatory approvals and permits. While the final outcome of such actions and proceedings cannot be predicted with certainty, management believes that the resolution of such actions and proceedings will not have a material impact on our interim consolidated financial position or results of operations. TAX MATTERS We and our subsidiaries maintain tax liabilities related to uncertain tax positions. While fully supportable in our view, these tax positions, if challenged by tax authorities, may not be fully sustained on review.

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
ADOPTION OF NEW ACCOUNTING STANDARDS	ADOPTION OF NEW ACCOUNTING STANDARDS Disclosures About Government Assistance Effective January 1, 2022, we adopted Accounting Standards Update (ASU) 2021-10 on a prospective basis. The new standard was issued in November 2021 to increase the transparency of government assistance to business entities. The ASU adds new disclosure requirements for transactions with governments that are accounted for using a grant or contribution accounting model by analogy. The required disclosures include information about the nature of transactions, accounting policy applied, impacted financial statement line items and significant terms and conditions. The adoption of this ASU did not have a material impact on our consolidated financial statements. Accounting for Certain Lessor Leases with Variable Lease Payments Effective January 1, 2022, we adopted ASU 2021-05 on a prospective basis. The new standard was issued in July 2021 to amend lessor accounting for certain leases with variable lease payments that do not depend on a reference index or a rate and would have resulted in the recognition of a loss at lease commencement if classified as a sales-type or a direct financing lease. The ASU amends the classification requirements of such leases for lessors to result in an operating lease classification. The adoption of this ASU did not have a material impact on our consolidated financial statements. Accounting for Modifications or Exchanges of Certain Equity-Classified Contracts Effective January 1, 2022, we adopted ASU 2021-04 on a prospective basis. The new standard was issued in May 2021 to clarify issuer accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The ASU requires an issuer to determine the accounting for the modification or exchange based on the economic substance of the modification or exchange. The adoption of this ASU did not have a material impact on our consolidated financial statements. Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Effective January 1, 2022, we adopted ASU 2020-06 on a modified retrospective basis. The new standard was issued in August 2020 to simplify accounting for certain financial instruments. The ASU eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The ASU also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. The ASU amends the diluted earnings per share guidance, including the requirement to use if-converted method for all convertible instruments and an update for instruments that can be settled in either cash or shares. The adoption of this ASU did not have a material impact on our consolidated financial statements.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Major Products and Services Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,685 1,194 251 — — — 4,130 Storage and other revenue 51 84 47 — — — 182 Gas gathering and processing revenue — 15 — — — — 15 Gas distribution revenue — — 2,098 — — — 2,098 Electricity and transmission revenue — — — 62 — — 62 Total revenue from contracts with customers 2,736 1,293 2,396 62 — — 6,487 Commodity sales — — — — 8,325 — 8,325 Other revenue 1,2 178 7 4 94 2 — 285 Intersegment revenue 141 — 11 — 10 (162) — Total revenue 3,055 1,300 2,411 156 8,337 (162) 15,097 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,329 1,121 216 — — — 3,666 Storage and other revenue 26 74 58 — — — 158 Gas gathering and processing revenue — 7 — — — — 7 Gas distribution revenue — — 1,534 — — — 1,534 Electricity and transmission revenue — — — 26 — — 26 Total revenue from contracts with customers 2,355 1,202 1,808 26 — — 5,391 Commodity sales — — — — 6,429 — 6,429 Other revenue 1,2 212 12 6 91 — (4) 317 Intersegment revenue 132 — 9 — 4 (145) — Total revenue 2,699 1,214 1,823 117 6,433 (149) 12,137 1 Includes mark-to-market gains from our hedging program for the three months ended March 31, 2022 and 2021 of $94 million and $130 million, respectively. 2 Includes revenues from lease contracts for the three months ended March 31, 2022 and 2021 of $164 million and $159 million, respectively. Recognition and Measurement of Revenues Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended (millions of Canadian dollars) Revenue from products transferred at a point in time — — 16 — 16 Revenue from products and services transferred over time 1 2,736 1,293 2,380 62 6,471 Total revenue from contracts with customers 2,736 1,293 2,396 62 6,487 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended (millions of Canadian dollars) Revenue from products transferred at a point in time — — 17 — 17 Revenue from products and services transferred over time 1 2,355 1,202 1,791 26 5,374 Total revenue from contracts with customers 2,355 1,202 1,808 26 5,391 1 Revenue from crude oil and natural gas pipeline transportation, storage, natural gas gathering, compression and treating, natural gas distribution, natural gas storage services and electricity sales.
Contract with customer, asset and liability	Contract Balances Contract Receivables Contract Assets Contract Liabilities (millions of Canadian dollars) Balance as at March 31, 2022 2,784 216 1,913 Balance as at December 31, 2021 2,369 213 1,898

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of reporting information by segment	Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Operating revenues 3,055 1,300 2,411 156 8,337 (162) 15,097 Commodity and gas distribution costs (11) — (1,468) (4) (8,427) 163 (9,747) Operating and administrative (947) (530) (299) (48) (14) (37) (1,875) Income from equity investments 215 221 — 55 — — 491 Other income 17 23 21 3 3 391 458 Earnings/(loss) before interest, income taxes, and depreciation and amortization 2,329 1,014 665 162 (101) 355 4,424 Depreciation and amortization (1,055) Interest expense (719) Income tax expense (593) Earnings 2,057 Capital expenditures 1 545 229 266 6 — 12 1,058 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended March 31, 2021 (millions of Canadian dollars) Operating revenues 2,699 1,214 1,823 117 6,433 (149) 12,137 Commodity and gas distribution costs (3) — (958) — (6,353) 166 (7,148) Operating and administrative (819) (434) (272) (43) (14) 23 (1,559) Income from equity investments 154 182 22 37 — — 395 Other income/(expense) 8 11 19 45 (2) 180 261 Earnings before interest, income taxes, and depreciation and amortization 2,039 973 634 156 64 220 4,086 Depreciation and amortization (932) Interest expense (657) Income tax expense (483) Earnings 2,014 Capital expenditures 1 1,195 482 219 5 — 12 1,913 1 Includes allowance for equity funds used during construction.

EARNINGS PER COMMON SHARE AND_2

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of weighted average shares outstanding used to calculate basic and diluted earnings per common share	Weighted average shares outstanding used to calculate basic and diluted earnings per share are as follows: Three months ended 2022 2021 (number of shares in millions) Weighted average shares outstanding 2,026 2,022 Effect of dilutive options 3 1 Diluted weighted average shares outstanding 2,029 2,023
Schedule of preferred stock characteristics by class	On May 3, 2022, our Board of Directors declared the following quarterly dividends. All dividends are payable on June 1, 2022 to shareholders of record on May 13, 2022. Dividend per share Common Shares 1 $0.86000 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.21340 Preference Shares, Series C 2 $0.18400 Preference Shares, Series D $0.27875 Preference Shares, Series F $0.29306 Preference Shares, Series H $0.27350 Preference Shares, Series J 3 US$0.30540 Preference Shares, Series L US$0.30993 Preference Shares, Series N $0.31788 Preference Shares, Series P $0.27369 Preference Shares, Series R $0.25456 Preference Shares, Series 1 US$0.37182 Preference Shares, Series 3 $0.23356 Preference Shares, Series 5 US$0.33596 Preference Shares, Series 7 $0.27806 Preference Shares, Series 9 $0.25606 Preference Shares, Series 11 $0.24613 Preference Shares, Series 13 $0.19019 Preference Shares, Series 15 $0.18644 Preference Shares, Series 19 $0.30625 1 The quarterly dividend per common share was increased 3% to $0.86 from $0.835, effective March 1, 2022. 2 The quarterly dividend per share paid on Series C was increased to $0.18400 from $0.15719 on March 1, 2022, due to reset on a quarterly basis following the date of issuance of the Series C Preference Shares. 3 On May 2, 2022, we notified holders of our outstanding Cumulative Redeemable Preference Shares, Series J (Series J Shares) (TSX: ENB.PR.U) of our intention to redeem all US$200 million outstanding Series J Shares on June 1, 2022.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of credit facilities	The following table provides details of our committed credit facilities as at March 31, 2022: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2022 - 2026 7,616 7,012 604 Enbridge (U.S.) Inc. 2023 - 2026 6,870 5,351 1,519 Enbridge Pipelines Inc. 2023 3,000 627 2,373 Enbridge Gas Inc. 2023 2,000 1,604 396 Total committed credit facilities 19,486 14,594 4,892 1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities.
Schedule of long-term debt instruments	During the three months ended March 31, 2022, we completed the following long-term debt issuances totaling US$1.5 billion and $750 million: Company Issue Date Principal Amount (millions of Canadian dollars unless otherwise stated) Enbridge Inc. January 2022 5.00% hybrid fixed-to-fixed subordinated notes due January 2082 $750 February 2022 Floating rate senior notes due February 2024 1 US$600 February 2022 2.15% senior notes due February 2024 US$400 February 2022 2.50% senior notes due February 2025 US$500 1 Notes carry an interest rate set to equal Secured Overnight Financing Rate plus a margin of 63 basis points.
Schedule of repayment of debt	During the three months ended March 31, 2022, we completed the following long-term debt repayments totaling $200 million and US$750 million: Company Repayment Date Principal Amount (millions of Canadian dollars unless otherwise stated) Enbridge Inc. February 2022 Floating rate notes 1 US$750 February 2022 4.85% medium-term notes $200 1 Notes carried an interest rate set to equal the three-month London Interbank Offered Rate plus a margin of 50 basis points.

COMPONENTS OF ACCUMULATED OTH_2

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Mar. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of changes in AOCI attributable to Enbridge, Inc. common shareholders	Changes in Accumulated other comprehensive loss (AOCI) attributable to our common shareholders for the three months ended March 31, 2022 and 2021 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2022 (897) — (166) 56 (5) (84) (1,096) Other comprehensive income/(loss) retained in AOCI 384 (1) 133 (691) — — (175) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 76 — — — — — 76 Commodity contracts 2 — — — — — — — Foreign exchange contracts 3 (4) — — — — — (4) Other contracts 4 2 — — — — — 2 Amortization of pension and OPEB actuarial gain 5 — — — — — (3) (3) 458 (1) 133 (691) — (3) (104) Tax impact Income tax on amounts retained in AOCI (92) — — — — — (92) Income tax on amounts reclassified to earnings (17) — — — — 1 (16) (109) — — — — 1 (108) Balance as at March 31, 2022 (548) (1) (33) (635) (5) (86) (1,308) Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2021 (1,326) 5 (215) 568 66 (499) (1,401) Other comprehensive income/(loss) retained in AOCI 493 (1) 105 (774) (26) — (203) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 63 — — — — — 63 Commodity contracts 2 1 — — — — — 1 Foreign exchange contracts 3 1 — — — — — 1 Amortization of pension and OPEB actuarial loss 5 — — — — — 7 7 Other 17 — — (20) 3 — — 575 (1) 105 (794) (23) 7 (131) Tax impact Income tax on amounts retained in AOCI (120) — (12) — 4 — (128) Income tax on amounts reclassified to earnings (13) — — — — (2) (15) (133) — (12) — 4 (2) (143) Balance as at March 31, 2021 (884) 4 (122) (226) 47 (494) (1,675) 1 Reported within Interest expense in the Consolidated Statements of Earnings. 2 Reported within Transportation and other services revenues, Commodity sales revenue, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings. 3 Reported within Transportation and other services revenues and Net foreign currency gain in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. 5 These components are included in the computation of net periodic benefit costs and are reported within Other income in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL_2

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of the Consolidated Statements of Financial Position location and carrying value of derivative instruments	The following table summarizes the Consolidated Statements of Financial Position location and carrying value of our derivative instruments, as well as the maximum potential settlement amounts in the event of the specific circumstances described above. All amounts are presented gross in the Consolidated Statements of Financial Position. March 31, 2022 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Accounts receivable and other Foreign exchange contracts — — 342 342 (52) 290 Interest rate contracts 149 — — 149 — 149 Commodity contracts — — 274 274 (186) 88 Other contracts 3 — 7 10 — 10 152 — 623 775 (238) 537 Deferred amounts and other assets Foreign exchange contracts — — 470 470 (142) 328 Interest rate contracts 283 — — 283 — 283 Commodity contracts — — 56 56 (23) 33 Other contracts 3 — 2 5 — 5 286 — 528 814 (165) 649 Accounts payable and other Foreign exchange contracts — — (187) (187) 52 (135) Interest rate contracts (28) — (23) (51) — (51) Commodity contracts (14) — (381) (395) 186 (209) (42) — (591) (633) 238 (395) Other long-term liabilities Foreign exchange contracts — (37) (292) (329) 142 (187) Interest rate contracts (4) — — (4) — (4) Commodity contracts (13) — (96) (109) 23 (86) (17) (37) (388) (442) 165 (277) Total net derivative assets/(liabilities) Foreign exchange contracts — (37) 333 296 — 296 Interest rate contracts 400 — (23) 377 — 377 Commodity contracts (27) — (147) (174) — (174) Other contracts 6 — 9 15 — 15 379 (37) 172 514 — 514 December 31, 2021 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Accounts receivable and other Foreign exchange contracts — — 259 259 (41) 218 Interest rate contracts 64 — — 64 — 64 Commodity contracts — — 204 204 (129) 75 Other contracts — — 2 2 — 2 64 — 465 529 (170) 359 Deferred amounts and other assets Foreign exchange contracts — — 240 240 (61) 179 Interest rate contracts 88 — — 88 (1) 87 Commodity contracts — — 29 29 (13) 16 Other contracts — — 3 3 — 3 88 — 272 360 (75) 285 Accounts payable and other Foreign exchange contracts (15) (112) (176) (303) 41 (262) Interest rate contracts (150) — — (150) — (150) Commodity contracts (14) — (250) (264) 129 (135) (179) (112) (426) (717) 170 (547) Other long-term liabilities Foreign exchange contracts — — (423) (423) 61 (362) Interest rate contracts (1) — (23) (24) 1 (23) Commodity contracts (17) — (67) (84) 13 (71) (18) — (513) (531) 75 (456) Total net derivative assets/(liabilities) Foreign exchange contracts (15) (112) (100) (227) — (227) Interest rate contracts 1 — (23) (22) — (22) Commodity contracts (31) — (84) (115) — (115) Other contracts — — 5 5 — 5 (45) (112) (202) (359) — (359)
Summary of the maturity and notional principal or quantity outstanding related to derivative instruments	The following table summarizes the maturity and notional principal or quantity outstanding related to our derivative instruments. March 31, 2022 2022 2023 2024 2025 2026 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 848 — 1,000 500 — — 2,348 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 7,544 5,794 4,544 3,372 2,772 492 24,518 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 21 29 30 30 28 32 170 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 95 92 91 86 85 343 792 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) 52,500 — — — — — 52,500 Interest rate contracts - short-term debt pay fixed rate (millions of Canadian dollars) 536 796 128 30 26 64 1,580 Interest rate contracts - long-term debt pay fixed rate (millions of Canadian dollars) 2,549 2,587 1,687 562 — — 7,385 Equity contracts (millions of Canadian dollars) — 26 21 — — — 47 Commodity contracts - natural gas (billions of cubic feet) 1 172 33 13 11 — — 229 Commodity contracts - crude oil (millions of barrels) 1 10 (1) — — — — 9 Commodity contracts - power (megawatt per hour) (MW/H) (14) (43) (43) (43) — — (37) 2 1 Total is a net purchase/(sale) of underlying commodity. 2 Total is an average net purchase/(sale) of power.
Schedule of effect of cash flow hedges and net investment hedges on consolidated earnings and consolidated comprehensive income, before income taxes	For foreign exchange derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative is included in Net foreign currency gain or Interest expense in the Consolidated Statements of Earnings. The offsetting loss or gain on the hedged item attributable to the hedged risk is included in Net foreign currency gain in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended 2022 2021 (millions of Canadian dollars) Unrealized gain/(loss) on derivative 76 (3) Unrealized loss on hedged item (87) (4) Realized loss on derivative (75) (39) Realized gain on hedged item 85 45 The following table presents the effect of cash flow hedges, fair value hedges and net investment hedges on our consolidated earnings and consolidated comprehensive income, before the effect of income taxes: Three months ended 2022 2021 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Foreign exchange contracts 2 (20) Interest rate contracts 377 497 Commodity contracts 4 (8) Other contracts 3 3 Fair value hedges Foreign exchange contracts (1) (1) 385 471 Amount of loss reclassified from AOCI to earnings Foreign exchange contracts 1 13 1 Interest rate contracts 2 76 63 Commodity contracts — 1 Other contracts 3 2 — 91 65 1 Reported within Transportation and other services revenues and Net foreign currency gain/(loss) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.
Schedule of unrealized gains and losses associated with changes in the fair value of non-qualifying derivatives	The following table presents the unrealized gains and losses associated with changes in the fair value of our non-qualifying derivatives: Three months ended 2022 2021 (millions of Canadian dollars) Foreign exchange contracts 1 433 236 Interest rate contracts 2 — 2 Commodity contracts 3 (68) 72 Other contracts 4 4 5 Total unrealized derivative fair value gain/(loss), net 369 315 1 For the respective three months ended periods, reported within Transportation and other services revenues (2022 - $134 million gain; 2021 - $154 million gain) and Net foreign currency gain (2022 - $299 million gain; 2021 - $82 million gain) in the Consolidated Statements of Earnings. 2 Reported as an (increase)/decrease within Interest expense in the Consolidated Statements of Earnings. 3 For the respective three months ended periods, reported within Transportation and other services revenues (2022 - $16 million loss; 2021 - $3 million loss), Commodity sales (2022 - $16 million loss; 2021 - $171 million gain), Commodity costs (2022 - $37 million loss; 2021 - $100 million loss) and Operating and administrative expense (2022 - $1 million gain; 2021 - $4 million gain) in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.
Schedule of group credit concentrations and maximum credit exposure, with respect to derivative instruments	We have credit concentrations and credit exposure, with respect to derivative instruments, in the following counterparty segments: March 31, December 31, (millions of Canadian dollars) Canadian financial institutions 800 424 US financial institutions 210 130 European financial institutions 347 181 Asian financial institutions 66 30 Other 1 161 122 1,584 887 1 Other is comprised of commodity clearing house and physical natural gas and crude oil counterparties.
Schedule of derivative assets and liabilities measured at fair value	We have categorized our derivative assets and liabilities measured at fair value as follows: March 31, 2022 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 342 — 342 Interest rate contracts — 149 — 149 Commodity contracts 36 172 66 274 Other contracts — 10 — 10 36 673 66 775 Long-term derivative assets Foreign exchange contracts — 470 — 470 Interest rate contracts — 283 — 283 Commodity contracts — 24 32 56 Other contracts — 5 — 5 — 782 32 814 Financial liabilities Current derivative liabilities Foreign exchange contracts — (187) — (187) Interest rate contracts — (51) — (51) Commodity contracts (27) (168) (200) (395) (27) (406) (200) (633) Long-term derivative liabilities Foreign exchange contracts — (329) — (329) Interest rate contracts — (4) — (4) Commodity contracts — (31) (78) (109) — (364) (78) (442) Total net financial assets/(liabilities) Foreign exchange contracts — 296 — 296 Interest rate contracts — 377 — 377 Commodity contracts 9 (3) (180) (174) Other contracts — 15 — 15 9 685 (180) 514 December 31, 2021 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 259 — 259 Interest rate contracts — 64 — 64 Commodity contracts 38 71 95 204 Other contracts — 2 — 2 38 396 95 529 Long-term derivative assets Foreign exchange contracts — 240 — 240 Interest rate contracts — 88 — 88 Commodity contracts — 21 8 29 Other contracts — 3 — 3 — 352 8 360 Financial liabilities Current derivative liabilities Foreign exchange contracts — (303) — (303) Interest rate contracts — (150) — (150) Commodity contracts (52) (66) (146) (264) (52) (519) (146) (717) Long-term derivative liabilities Foreign exchange contracts — (423) — (423) Interest rate contracts — (24) — (24) Commodity contracts — (19) (65) (84) — (466) (65) (531) Total net financial assets/(liabilities) Foreign exchange contracts — (227) — (227) Interest rate contracts — (22) — (22) Commodity contracts (14) 7 (108) (115) Other contracts — 5 — 5 (14) (237) (108) (359)
Schedule of significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments	The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments were as follows: March 31, 2022 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas 5 Forward gas price 3.94 9.60 6.24 $/mmbtu 2 Crude (3) Forward crude price 83.47 124.49 106.20 $/barrel Power (54) Forward power price 22.33 121.08 77.14 $/MW/H Commodity contracts - physical 1 Natural gas (97) Forward gas price 3.48 15.02 6.23 $/mmbtu 2 Crude (31) Forward crude price 97.55 139.67 118.41 $/barrel (180) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu).
Schedule of changes in net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy	Changes in net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Three months ended 2022 2021 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (108) (191) Total gain/(loss) Included in earnings 1 (52) (72) Included in OCI 4 (5) Settlements (24) 149 Level 3 net derivative liability at end of period (180) (119) 1 Reported within Transportation and other services revenues, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings.

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Schedule of net benefit costs recognized	Three months ended March 31, 2022 2021 (millions of Canadian dollars) Service cost 45 48 Interest cost 1 41 32 Expected return on plan assets 1 (98) (84) Amortization of actuarial (gain)/loss 1 (1) 14 Net periodic benefit (credit)/cost (13) 10 1 Reported within Other income in the Consolidated Statements of Earnings.

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 6,487	$ 5,391
Total revenues	15,097	12,137
Mark-to-market gains from hedging program	94	130
Revenues from lease contracts	164	159
Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	16	17
Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	6,471	5,374
Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,130	3,666
Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	182	158
Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15	7
Gas distribution revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,098	1,534
Total revenues	2,098	1,540
Electricity and transmission revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	26
Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	8,325	6,429
Total revenues	8,325	6,429
Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	285	317
Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,736	2,355
Liquids Pipelines | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Liquids Pipelines | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,736	2,355
Gas Transmission and Midstream
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,293	1,202
Gas Transmission and Midstream | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Gas Transmission and Midstream | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,293	1,202
Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,396	1,808
Gas Distribution and Storage | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	16	17
Gas Distribution and Storage | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,380	1,791
Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	26
Renewable Power Generation | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Renewable Power Generation | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	26
Business segments | Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,736	2,355
Total revenues	3,055	2,699
Business segments | Liquids Pipelines | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,685	2,329
Business segments | Liquids Pipelines | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	51	26
Business segments | Liquids Pipelines | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Liquids Pipelines | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Liquids Pipelines | Electricity and transmission revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Liquids Pipelines | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Liquids Pipelines | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	178	212
Business segments | Gas Transmission and Midstream
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,293	1,202
Total revenues	1,300	1,214
Business segments | Gas Transmission and Midstream | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,194	1,121
Business segments | Gas Transmission and Midstream | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	84	74
Business segments | Gas Transmission and Midstream | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15	7
Business segments | Gas Transmission and Midstream | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Gas Transmission and Midstream | Electricity and transmission revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Gas Transmission and Midstream | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Gas Transmission and Midstream | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	7	12
Business segments | Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,396	1,808
Total revenues	2,411	1,823
Business segments | Gas Distribution and Storage | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	251	216
Business segments | Gas Distribution and Storage | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	47	58
Business segments | Gas Distribution and Storage | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Gas Distribution and Storage | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,098	1,534
Business segments | Gas Distribution and Storage | Electricity and transmission revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Gas Distribution and Storage | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Gas Distribution and Storage | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	4	6
Business segments | Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	26
Total revenues	156	117
Business segments | Renewable Power Generation | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Renewable Power Generation | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Renewable Power Generation | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Renewable Power Generation | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Renewable Power Generation | Electricity and transmission revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	26
Business segments | Renewable Power Generation | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Renewable Power Generation | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	94	91
Business segments | Energy Services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Total revenues	8,337	6,433
Business segments | Energy Services | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Electricity and transmission revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	8,325	6,429
Business segments | Energy Services | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	2	0
Eliminations and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Total revenues	(162)	(149)
Eliminations and Other | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Electricity and transmission revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Eliminations and Other | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	(4)
Intersegment revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	(162)	(145)
Total revenues	(162)	(149)
Intersegment revenue | Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	141	132
Intersegment revenue | Gas Transmission and Midstream
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Intersegment revenue | Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	11	9
Intersegment revenue | Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Intersegment revenue | Energy Services
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	$ 10	$ 4

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022CAD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 61
Increase in contract with customers, liability	97
Remaining performance obligation	58,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 5,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 6,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	1 year

REVENUE - Contract Balances (De

REVENUE - Contract Balances (Details) - CAD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract Receivables	$ 2,784	$ 2,369
Contract Assets	216	213
Contract Liabilities	$ 1,913	$ 1,898

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segmented Information
Operating revenues	$ 15,097	$ 12,137
Commodity and gas distribution costs	(9,747)	(7,148)
Operating and administrative	(1,875)	(1,559)
Income from equity investments	491	395
Other income/(expense)	458	261
Earnings/(loss) before interest, income taxes, and depreciation and amortization	4,424	4,086
Depreciation and amortization	(1,055)	(932)
Interest expense	(719)	(657)
Income tax expense	(593)	(483)
Earnings	2,057	2,014
Capital expenditures	1,058	1,913
Eliminations and Other
Segmented Information
Operating revenues	(162)	(149)
Commodity and gas distribution costs	163	166
Operating and administrative	(37)	23
Income from equity investments	0	0
Other income/(expense)	391	180
Earnings/(loss) before interest, income taxes, and depreciation and amortization	355	220
Capital expenditures	12	12
Liquids Pipelines | Business segments
Segmented Information
Operating revenues	3,055	2,699
Commodity and gas distribution costs	(11)	(3)
Operating and administrative	(947)	(819)
Income from equity investments	215	154
Other income/(expense)	17	8
Earnings/(loss) before interest, income taxes, and depreciation and amortization	2,329	2,039
Capital expenditures	545	1,195
Gas Transmission and Midstream | Business segments
Segmented Information
Operating revenues	1,300	1,214
Commodity and gas distribution costs	0	0
Operating and administrative	(530)	(434)
Income from equity investments	221	182
Other income/(expense)	23	11
Earnings/(loss) before interest, income taxes, and depreciation and amortization	1,014	973
Capital expenditures	229	482
Gas Distribution and Storage | Business segments
Segmented Information
Operating revenues	2,411	1,823
Commodity and gas distribution costs	(1,468)	(958)
Operating and administrative	(299)	(272)
Income from equity investments	0	22
Other income/(expense)	21	19
Earnings/(loss) before interest, income taxes, and depreciation and amortization	665	634
Capital expenditures	266	219
Renewable Power Generation | Business segments
Segmented Information
Operating revenues	156	117
Commodity and gas distribution costs	(4)	0
Operating and administrative	(48)	(43)
Income from equity investments	55	37
Other income/(expense)	3	45
Earnings/(loss) before interest, income taxes, and depreciation and amortization	162	156
Capital expenditures	6	5
Energy Services | Business segments
Segmented Information
Operating revenues	8,337	6,433
Commodity and gas distribution costs	(8,427)	(6,353)
Operating and administrative	(14)	(14)
Income from equity investments	0	0
Other income/(expense)	3	(2)
Earnings/(loss) before interest, income taxes, and depreciation and amortization	(101)	64
Capital expenditures	$ 0	$ 0

EARNINGS PER COMMON SHARE AND_3

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Basic (Details) shares in Millions	3 Months Ended
	Mar. 31, 2021shares
Earnings Per Share [Abstract]
Pro-rata weighted average interest in entity's own common shares (in shares)	3

EARNINGS PER COMMON SHARE AND_4

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Diluted (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Weighted average number of common shares outstanding diluted
Weighted average shares outstanding (in shares)	2,026	2,022
Effect of dilutive options (in shares)	3	1
Diluted weighted average shares outstanding (in shares)	2,029	2,023
Stock options
Weighted average number of common shares outstanding diluted
Antidilutive securities excluded from the diluted earnings per common share calculation (in shares)	12.9	27.6
Weighted average exercise price of antidilutive securities (in Canadian dollars per share)	$ 56.09	$ 51.42

EARNINGS PER COMMON SHARE AND_5

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Dividends Per Share (Details) $ / shares in Units, $ in Millions	Jun. 01, 2022$ / shares	Jun. 01, 2022USD ($)$ / shares	May 03, 2022$ / shares	May 03, 2022$ / shares	Mar. 01, 2021	Mar. 31, 2022$ / shares	Dec. 31, 2021$ / shares	Mar. 31, 2021$ / shares
Dividends Payable [Line Items]
Common stock, dividends, per share, declared (in dollars per share)						$ 0.86	$ 0.835
Common stock, dividends per share, paid (in dollars per share)						0.860		$ 0.835
Increase in quarterly dividend per common share (percent)					3.00%
Common shares | Forecast
Dividends Payable [Line Items]
Common stock, dividends per share, paid (in dollars per share)	$ 0.86000
Common shares | Subsequent event
Dividends Payable [Line Items]
Common stock, dividends, per share, declared (in dollars per share)			$ 0.86000
Preferred share investment | Preference Shares, Series A | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.34375
Preferred share investment | Preference Shares, Series A | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.34375
Preferred share investment | Preference Shares, Series B | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.21340
Preferred share investment | Preference Shares, Series B | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.21340
Preferred share investment | Preference Shares, Series C
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)						$ 0.18400	$ 0.15719
Preferred share investment | Preference Shares, Series C | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.18400
Preferred share investment | Preference Shares, Series C | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.18400
Preferred share investment | Preference Shares, Series D | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.27875
Preferred share investment | Preference Shares, Series D | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.27875
Preferred share investment | Preference Shares, Series F | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.29306
Preferred share investment | Preference Shares, Series F | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.29306
Preferred share investment | Preference Shares, Series H | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.27350
Preferred share investment | Preference Shares, Series H | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.27350
Preferred share investment | Preference Shares, Series J | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)		$ 0.30540
Payments for repurchase of redeemable preferred stock | $		$ 200
Preferred share investment | Preference Shares, Series J | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)				$ 0.30540
Preferred share investment | Preference Shares, Series L | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)		$ 0.30993
Preferred share investment | Preference Shares, Series L | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)				0.30993
Preferred share investment | Preference Shares, Series N | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.31788
Preferred share investment | Preference Shares, Series N | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.31788
Preferred share investment | Preference Shares, Series P | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.27369
Preferred share investment | Preference Shares, Series P | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.27369
Preferred share investment | Preference Shares, Series R | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.25456
Preferred share investment | Preference Shares, Series R | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.25456
Preferred share investment | Preference Shares, Series 1 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)		0.37182
Preferred share investment | Preference Shares, Series 1 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)				0.37182
Preferred share investment | Preference Shares, Series 3 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.23356
Preferred share investment | Preference Shares, Series 3 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.23356
Preferred share investment | Preference Shares, Series 5 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)		$ 0.33596
Preferred share investment | Preference Shares, Series 5 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)				$ 0.33596
Preferred share investment | Preference Shares, Series 7 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.27806
Preferred share investment | Preference Shares, Series 7 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.27806
Preferred share investment | Preference Shares, Series 9 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.25606
Preferred share investment | Preference Shares, Series 9 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.25606
Preferred share investment | Preference Shares, Series 11 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.24613
Preferred share investment | Preference Shares, Series 11 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.24613
Preferred share investment | Preference Shares, Series 13 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.19019
Preferred share investment | Preference Shares, Series 13 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.19019
Preferred share investment | Preference Shares, Series 15 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.18644
Preferred share investment | Preference Shares, Series 15 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.18644
Preferred share investment | Preference Shares, Series 19 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	$ 0.30625
Preferred share investment | Preference Shares, Series 19 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			$ 0.30625

DEBT - Credit Facilities (Detai

DEBT - Credit Facilities (Details) - Committed credit facilities $ in Millions	3 Months Ended
	Mar. 31, 2022CAD ($)
CREDIT FACILITIES
Total Facilities	$ 19,486
Draws	14,594
Available	$ 4,892
Term out option period	1 year
Enbridge (U.S.) Inc.
CREDIT FACILITIES
Total Facilities	$ 6,870
Draws	5,351
Available	1,519
Enbridge Pipelines Inc.
CREDIT FACILITIES
Total Facilities	3,000
Draws	627
Available	2,373
Enbridge Gas Inc.
CREDIT FACILITIES
Total Facilities	2,000
Draws	1,604
Available	396
Enbridge Inc.
CREDIT FACILITIES
Total Facilities	7,616
Draws	7,012
Available	$ 604

DEBT - Narrative (Details)

DEBT - Narrative (Details) $ in Millions	Feb. 10, 2021	Mar. 31, 2022CAD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021CAD ($)	Mar. 31, 2022USD ($)	Feb. 10, 2022CAD ($)	Dec. 31, 2021CAD ($)
Line of Credit Facility [Line Items]
Commitment fee percentage		0.10%	0.10%
Long-term debt		$ 70,490,000,000					$ 67,961,000,000
Long-term debt, fair value adjustment		646,000,000					667,000,000
Amortization of fair value adjustment		11,000,000		$ 12,000,000
Commercial paper and credit facility draws
Line of Credit Facility [Line Items]
Long-term debt		12,400,000,000					11,300,000,000
5.00% hybrid fixed-to-fixed subordinated notes due January 2082 | Enbridge Inc.
Line of Credit Facility [Line Items]
Principal amount of debt		750,000,000			$ 1,500
Floating rate notes | Enbridge Inc.
Line of Credit Facility [Line Items]
Principal amount		200,000,000	$ 750
Fixed-to-floating subordinated term notes | Subordinated term notes
Line of Credit Facility [Line Items]
Subordinated debt		8,400,000,000
Fixed-to-fixed subordinated term notes | Subordinated term notes
Line of Credit Facility [Line Items]
Subordinated debt							7,700,000,000
Revolving credit facility | Sustainability-linked Credit Facility
Line of Credit Facility [Line Items]
Debt instrument maturity period (in year)	3 years
Amount of credit facility						$ 1,000,000,000
Uncommitted demand credit facilities
Line of Credit Facility [Line Items]
Amount of credit facility		1,300,000,000					1,300,000,000
Unutilized amount of facility		$ 947,000,000					$ 854,000,000

DEBT - Long Term Debt Issuance

DEBT - Long Term Debt Issuance (Details) - Enbridge Inc.	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2022CAD ($)	Jun. 30, 2021
5.00% hybrid fixed-to-fixed subordinated notes due January 2082
Debt Instrument [Line Items]
Interest rate (as a percent)			5.00%
Principal amount of debt	$ 1,500,000,000	$ 750,000,000
Floating rate senior notes due February 20241
Debt Instrument [Line Items]
Principal amount of debt	$ 600,000,000
Floating rate senior notes due February 20241 | SOFR
Debt Instrument [Line Items]
Spread on variable rate (percent)	0.63%
2.15% senior notes due February 2024
Debt Instrument [Line Items]
Interest rate (as a percent)			2.15%
Principal amount of debt	$ 400,000,000
2.5% senior notes due February 2025
Debt Instrument [Line Items]
Interest rate (as a percent)	2.50%	2.50%
Principal amount of debt	$ 500,000,000

DEBT - Long Term Debt Repayment

DEBT - Long Term Debt Repayments (Details) - Enbridge Inc. $ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022CAD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021
Floating rate notes
DEBT
Principal Amount	$ 200	$ 750
Floating rate notes | London Interbank Offered Rate
DEBT
Spread on variable rate (percent)	0.50%	0.50%
4.85% medium-term notes
DEBT
Interest rate (as a percent)			4.85%
Principal Amount	$ 200

COMPONENTS OF ACCUMULATED OTH_3

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in AOCI
Balance at the beginning of the period	$ 63,368
Other comprehensive income/(loss) retained in AOCI	(175)	$ (203)
Total before tax impact	(104)	(131)
Income tax on amounts retained in AOCI	(92)	(128)
Income tax on amounts reclassified to earnings	(16)	(15)
Tax impact	(108)	(143)
Balance at the end of the period	64,273	65,988
Interest rate contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	76	63
Commodity contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	0	1
Foreign exchange contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	(4)	1
Other contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	2
Total
Changes in AOCI
Balance at the beginning of the period	(1,096)	(1,401)
Balance at the end of the period	(1,308)	(1,675)
Cash Flow Hedges
Changes in AOCI
Balance at the beginning of the period	(897)	(1,326)
Other comprehensive income/(loss) retained in AOCI	384	493
Other		17
Total before tax impact	458	575
Income tax on amounts retained in AOCI	(92)	(120)
Income tax on amounts reclassified to earnings	(17)	(13)
Tax impact	(109)	(133)
Balance at the end of the period	(548)	(884)
Cash Flow Hedges | Interest rate contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	76	63
Cash Flow Hedges | Commodity contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	0	1
Cash Flow Hedges | Foreign exchange contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	(4)	1
Cash Flow Hedges | Other contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	2
Excluded Components of Fair Value Hedges
Changes in AOCI
Balance at the beginning of the period	0	5
Other comprehensive income/(loss) retained in AOCI	(1)	(1)
Total before tax impact	(1)	(1)
Income tax on amounts retained in AOCI	0	0
Income tax on amounts reclassified to earnings	0	0
Tax impact	0	0
Balance at the end of the period	(1)	4
Net Investment Hedges
Changes in AOCI
Balance at the beginning of the period	(166)	(215)
Other comprehensive income/(loss) retained in AOCI	133	105
Total before tax impact	133	105
Income tax on amounts retained in AOCI	0	(12)
Income tax on amounts reclassified to earnings	0	0
Tax impact	0	(12)
Balance at the end of the period	(33)	(122)
Cumulative Translation Adjustment
Changes in AOCI
Balance at the beginning of the period	56	568
Other comprehensive income/(loss) retained in AOCI	(691)	(774)
Other		(20)
Total before tax impact	(691)	(794)
Income tax on amounts retained in AOCI	0	0
Income tax on amounts reclassified to earnings	0	0
Tax impact	0	0
Balance at the end of the period	(635)	(226)
Equity Investees
Changes in AOCI
Balance at the beginning of the period	(5)	66
Other comprehensive income/(loss) retained in AOCI	0	(26)
Other		3
Total before tax impact	0	(23)
Income tax on amounts retained in AOCI	0	4
Income tax on amounts reclassified to earnings	0	0
Tax impact	0	4
Balance at the end of the period	(5)	47
Pension and OPEB Adjustment
Changes in AOCI
Balance at the beginning of the period	(84)	(499)
Other comprehensive loss/(income) reclassified to earnings	(3)	7
Total before tax impact	(3)	7
Income tax on amounts retained in AOCI	0	0
Income tax on amounts reclassified to earnings	1	(2)
Tax impact	1	(2)
Balance at the end of the period	$ (86)	$ (494)

RISK MANAGEMENT AND FINANCIAL_3

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Market Risk (Details)	3 Months Ended
	Mar. 31, 2022equity_type
Interest rate contracts - short-term borrowings
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Floating rate debt as target percentage of total debt outstanding maximum	30.00%
Short-term pay fixed-receive floating interest rate swaps
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Average swap rate (percent)	2.10%
Average swap rate, variable (as a percent)	2.10%
Equity contracts
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Number of forms of stock-based compensation with equity price risk	1

RISK MANAGEMENT AND FINANCIAL_4

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Total Derivative Instruments (Details) - CAD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	$ 514	$ (359)
Derivative liabilities, Total Net Derivative Instruments	514	(359)
Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	172	(202)
Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	379	(45)
Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	(37)	(112)
Accounts receivable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	775	529
Derivative assets, Amounts Available for Offset	(238)	(170)
Derivative assets, Total Net Derivative Instruments	537	359
Accounts receivable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	623	465
Accounts receivable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	152	64
Accounts receivable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	814	360
Derivative assets, Amounts Available for Offset	(165)	(75)
Derivative assets, Total Net Derivative Instruments	649	285
Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	528	272
Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	286	88
Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Accounts payable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(633)	(717)
Derivative liabilities, Amounts Available for Offset	238	170
Derivative liabilities, Total Net Derivative Instruments	(395)	(547)
Accounts payable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(591)	(426)
Accounts payable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(42)	(179)
Accounts payable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(112)
Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(442)	(531)
Derivative liabilities, Amounts Available for Offset	165	75
Derivative liabilities, Total Net Derivative Instruments	(277)	(456)
Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(388)	(513)
Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(17)	(18)
Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(37)	0
Foreign exchange contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	296	(227)
Derivative liabilities, Total Net Derivative Instruments	296	(227)
Foreign exchange contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	333	(100)
Foreign exchange contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	0	(15)
Foreign exchange contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	(37)	(112)
Foreign exchange contracts | Accounts receivable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	342	259
Derivative assets, Amounts Available for Offset	(52)	(41)
Derivative assets, Total Net Derivative Instruments	290	218
Foreign exchange contracts | Accounts receivable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	342	259
Foreign exchange contracts | Accounts receivable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts | Accounts receivable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	470	240
Derivative assets, Amounts Available for Offset	(142)	(61)
Derivative assets, Total Net Derivative Instruments	328	179
Foreign exchange contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	470
Foreign exchange contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts | Accounts payable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(187)	(303)
Derivative liabilities, Amounts Available for Offset	52	41
Derivative liabilities, Total Net Derivative Instruments	(135)	(262)
Foreign exchange contracts | Accounts payable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(187)	(176)
Foreign exchange contracts | Accounts payable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(15)
Foreign exchange contracts | Accounts payable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(112)
Foreign exchange contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(329)	(423)
Derivative liabilities, Amounts Available for Offset	142	61
Derivative liabilities, Total Net Derivative Instruments	(187)	(362)
Foreign exchange contracts | Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(292)	(423)
Foreign exchange contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Foreign exchange contracts | Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(37)	0
Interest rate contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	377	(22)
Derivative liabilities, Total Net Derivative Instruments	377	(22)
Interest rate contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	(23)	(23)
Interest rate contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	400	1
Interest rate contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	0	0
Interest rate contracts | Accounts receivable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	149	64
Derivative assets, Amounts Available for Offset	0	0
Derivative assets, Total Net Derivative Instruments	149	64
Interest rate contracts | Accounts receivable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts | Accounts receivable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	149	64
Interest rate contracts | Accounts receivable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	283	88
Derivative assets, Amounts Available for Offset	0	(1)
Derivative assets, Total Net Derivative Instruments	283	87
Interest rate contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	283	88
Interest rate contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts | Accounts payable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(51)	(150)
Derivative liabilities, Amounts Available for Offset	0	0
Derivative liabilities, Total Net Derivative Instruments	(51)	(150)
Interest rate contracts | Accounts payable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(23)	0
Interest rate contracts | Accounts payable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(28)	(150)
Interest rate contracts | Accounts payable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Interest rate contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(4)	(24)
Derivative liabilities, Amounts Available for Offset	0	1
Derivative liabilities, Total Net Derivative Instruments	(4)	(23)
Interest rate contracts | Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(23)
Interest rate contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(4)	(1)
Interest rate contracts | Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Commodity contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	(174)	(115)
Derivative liabilities, Total Net Derivative Instruments	(174)	(115)
Commodity contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	(147)	(84)
Commodity contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	(27)	(31)
Commodity contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	0	0
Commodity contracts | Accounts receivable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	274	204
Derivative assets, Amounts Available for Offset	(186)	(129)
Derivative assets, Total Net Derivative Instruments	88	75
Commodity contracts | Accounts receivable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	274	204
Commodity contracts | Accounts receivable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Accounts receivable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	56	29
Derivative assets, Amounts Available for Offset	(23)	(13)
Derivative assets, Total Net Derivative Instruments	33	16
Commodity contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	56
Commodity contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Accounts payable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(395)	(264)
Derivative liabilities, Amounts Available for Offset	186	129
Derivative liabilities, Total Net Derivative Instruments	(209)	(135)
Commodity contracts | Accounts payable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(381)	(250)
Commodity contracts | Accounts payable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(14)	(14)
Commodity contracts | Accounts payable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Commodity contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(109)	(84)
Derivative liabilities, Amounts Available for Offset	23	13
Derivative liabilities, Total Net Derivative Instruments	(86)	(71)
Commodity contracts | Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(96)	(67)
Commodity contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(13)	(17)
Commodity contracts | Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Other contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	15	5
Derivative liabilities, Total Net Derivative Instruments	15	5
Other contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	9	5
Other contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	6	0
Other contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial assets/(liabilities)	0	0
Other contracts | Accounts receivable and other
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	10	2
Derivative assets, Amounts Available for Offset	0	0
Derivative assets, Total Net Derivative Instruments	10	2
Other contracts | Accounts receivable and other | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	7	2
Other contracts | Accounts receivable and other | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	3	0
Other contracts | Accounts receivable and other | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Other contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	5	3
Derivative assets, Amounts Available for Offset	0	0
Derivative assets, Total Net Derivative Instruments	5	3
Other contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	2
Other contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	3	0
Other contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	$ 0	$ 0

RISK MANAGEMENT AND FINANCIAL_5

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Notional Principal or Quantity Information (Details) - Mar. 31, 2022 € in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions	USD ($)MWhBcfMMBbls	GBP (£)MWhBcfMMBbls	EUR (€)MWhBcfMMBbls	JPY (¥)MWhBcfMMBbls	CAD ($)MWhBcfMMBbls
Foreign exchange contracts - forwards - purchase | United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022	$ 848
2023	0
2024	1,000
2025	500
2026	0
Thereafter	0
Derivative Notional Amount Outstanding	2,348
Foreign exchange contracts - forwards - purchase | Japanese yen
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022 | ¥				¥ 52,500
2023 | ¥				0
2024 | ¥				0
2025 | ¥				0
2026 | ¥				0
Thereafter | ¥				0
Derivative Notional Amount Outstanding | ¥				¥ 52,500
Foreign exchange contracts - forwards - sell | United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022	7,544
2023	5,794
2024	4,544
2025	3,372
2026	2,772
Thereafter	492
Derivative Notional Amount Outstanding	$ 24,518
Foreign exchange contracts - forwards - sell | GBP
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022 | £		£ 21
2023 | £		29
2024 | £		30
2025 | £		30
2026 | £		28
Thereafter | £		32
Derivative Notional Amount Outstanding | £		£ 170
Foreign exchange contracts - forwards - sell | Euro
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022 | €			€ 95
2023 | €			92
2024 | €			91
2025 | €			86
2026 | €			85
Thereafter | €			343
Derivative Notional Amount Outstanding | €			€ 792
Interest rate contracts - short-term borrowings
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022					$ 536
2023					796
2024					128
2025					30
2026					26
Thereafter					64
Derivative Notional Amount Outstanding					1,580
Interest rate contracts - long-term debt pay fixed rate
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022					2,549
2023					2,587
2024					1,687
2025					562
2026					0
Thereafter					0
Derivative Notional Amount Outstanding					7,385
Equity contracts
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022					0
2023					26
2024					21
2025					0
2026					0
Thereafter					0
Derivative Notional Amount Outstanding					$ 47
Commodity contracts | Natural gas
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022 (bcf / mmbbls) | Bcf	172,000,000	172,000,000	172,000,000	172,000,000	172,000,000
2023 (bcf / mmbbls) | Bcf	33,000,000	33,000,000	33,000,000	33,000,000	33,000,000
2024 (bcf / mmbbls) | Bcf	13,000,000	13,000,000	13,000,000	13,000,000	13,000,000
2025 (bcf / mmbbls) | Bcf	11,000,000	11,000,000	11,000,000	11,000,000	11,000,000
2026 (bcf / mmbbls) | Bcf	0	0	0	0	0
Thereafter (bcf / mmbbls) | Bcf	0	0	0	0	0
Derivative Nonmonetary Notional Amount Outstanding | Bcf	229,000,000	229,000,000	229,000,000	229,000,000	229,000,000
Commodity contracts | Crude
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022 (bcf / mmbbls) | MMBbls	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000
2023 (bcf / mmbbls) | MMBbls	(1,000,000)	(1,000,000)	(1,000,000)	(1,000,000)	(1,000,000)
2024 (bcf / mmbbls) | MMBbls	0	0	0	0	0
2025 (bcf / mmbbls) | MMBbls	0	0	0	0	0
2026 (bcf / mmbbls) | MMBbls	0	0	0	0	0
Thereafter (bcf / mmbbls) | MMBbls	0	0	0	0	0
Derivative Nonmonetary Notional Amount Outstanding | MMBbls	9,000,000	9,000,000	9,000,000	9,000,000	9,000,000
Net sell | Commodity contracts | Power
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2022 (MWH) | MWh	(14,000,000)	(14,000,000)	(14,000,000)	(14,000,000)	(14,000,000)
2023 (MWH) | MWh	(43,000,000)	(43,000,000)	(43,000,000)	(43,000,000)	(43,000,000)
2024 (MWH) | MWh	(43,000,000)	(43,000,000)	(43,000,000)	(43,000,000)	(43,000,000)
2025 (MWH) | MWh	(43,000,000)	(43,000,000)	(43,000,000)	(43,000,000)	(43,000,000)
2026 (MWH) | MWh	0	0	0	0	0
Thereafter (MWH) | MWh	0	0	0	0	0
Total (MWH) | MWh	(37)	(37)	(37)	(37)	(37)

RISK MANAGEMENT AND FINANCIAL_6

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value Derivatives (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Foreign Currency Fair Value Hedge Derivative [Line Items]
Realized loss on derivative	$ 94	$ 130
Fair value hedges | Interest rate contracts
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized gain/(loss) on derivative	76	(3)
Unrealized loss on hedged item	(87)	(4)
Realized loss on derivative	(75)	(39)
Realized gain on hedged item	$ 85	$ 45

RISK MANAGEMENT AND FINANCIAL_7

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Earnings and Comprehensive Income (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	$ 385	$ 471
Amount of loss reclassified from AOCI to earnings	91	65
Estimated gain (loss) of AOCI related to cash flow hedges reclassified to earnings in the next 12 months	$ 3
Maximum term of hedging exposures to variability of cash flows	45 months
Unrealized gain (loss) on derivatives	$ 369	315
Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	369	315
Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	13	1
Foreign exchange contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	433	236
Foreign exchange contracts | Non-Qualifying Derivative Instruments | Transportation and other services
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	134	154
Foreign exchange contracts | Non-Qualifying Derivative Instruments | Other income/(expense)
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	299	82
Interest rate contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	76	63
Interest rate contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	0	2
Commodity contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	0	1
Commodity contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(68)	72
Commodity contracts | Non-Qualifying Derivative Instruments | Transportation and other services
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(16)	(3)
Commodity contracts | Non-Qualifying Derivative Instruments | Commodity sales
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(16)	171
Commodity contracts | Non-Qualifying Derivative Instruments | Commodity costs
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(37)	(100)
Commodity contracts | Non-Qualifying Derivative Instruments | Operating and administrative expense
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	1	4
Other contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	2	0
Other contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	4	5
Cash flow hedges | Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	2	(20)
Cash flow hedges | Interest rate contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	377	497
Cash flow hedges | Commodity contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	4	(8)
Cash flow hedges | Other contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	3	3
Fair value hedges | Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	$ (1)	$ (1)

RISK MANAGEMENT AND FINANCIAL_8

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Liquidity and Credit Risk (Details) - CAD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
LIQUIDITY RISK AND CREDIT RISK
Rolling time period over which the Company forecasts cash requirements	12 months
Period of anticipated requirements for which the Company maintains sufficient liquidity through committed credit facilities	1 year
Letters of credit issued in lieu of cash collateral	$ 0
Derivative instruments
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	1,584,000,000	$ 887,000,000
Derivative instruments | Canadian financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	800,000,000	424,000,000
Derivative instruments | US financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	210,000,000	130,000,000
Derivative instruments | European financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	347,000,000	181,000,000
Derivative instruments | Asian financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	66,000,000	30,000,000
Derivative instruments | Other
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	$ 161,000,000	$ 122,000,000

RISK MANAGEMENT AND FINANCIAL_9

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - CAD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value of Derivatives
Total net financial assets/(liabilities)	$ 514	$ (359)
Fair Value
Fair Value of Derivatives
Current derivative assets	775	529
Long-term derivative assets	814	360
Current derivative liabilities	(633)	(717)
Long-term derivative liabilities	(442)	(531)
Total net financial assets/(liabilities)	514	(359)
Foreign exchange contracts
Fair Value of Derivatives
Total net financial assets/(liabilities)	296	(227)
Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	342	259
Long-term derivative assets	470	240
Current derivative liabilities	(187)	(303)
Long-term derivative liabilities	(329)	(423)
Total net financial assets/(liabilities)	296	(227)
Interest rate contracts
Fair Value of Derivatives
Total net financial assets/(liabilities)	377	(22)
Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	149	64
Long-term derivative assets	283	88
Current derivative liabilities	(51)	(150)
Long-term derivative liabilities	(4)	(24)
Total net financial assets/(liabilities)	377	(22)
Commodity contracts
Fair Value of Derivatives
Total net financial assets/(liabilities)	(174)	(115)
Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	274	204
Long-term derivative assets	56	29
Current derivative liabilities	(395)	(264)
Long-term derivative liabilities	(109)	(84)
Total net financial assets/(liabilities)	(174)	(115)
Other contracts
Fair Value of Derivatives
Total net financial assets/(liabilities)	15	5
Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	10	2
Long-term derivative assets	5	3
Total net financial assets/(liabilities)	15	5
Level 1 | Fair Value
Fair Value of Derivatives
Current derivative assets	36	38
Long-term derivative assets	0	0
Current derivative liabilities	(27)	(52)
Long-term derivative liabilities	0	0
Total net financial assets/(liabilities)	9	(14)
Level 1 | Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial assets/(liabilities)	0	0
Level 1 | Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial assets/(liabilities)	0	0
Level 1 | Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	36	38
Long-term derivative assets	0	0
Current derivative liabilities	(27)	(52)
Long-term derivative liabilities	0	0
Total net financial assets/(liabilities)	9	(14)
Level 1 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Total net financial assets/(liabilities)	0	0
Level 2 | Fair Value
Fair Value of Derivatives
Current derivative assets	673	396
Long-term derivative assets	782	352
Current derivative liabilities	(406)	(519)
Long-term derivative liabilities	(364)	(466)
Total net financial assets/(liabilities)	685	(237)
Level 2 | Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	342	259
Long-term derivative assets	470	240
Current derivative liabilities	(187)	(303)
Long-term derivative liabilities	(329)	(423)
Total net financial assets/(liabilities)	296	(227)
Level 2 | Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	149	64
Long-term derivative assets	283	88
Current derivative liabilities	(51)	(150)
Long-term derivative liabilities	(4)	(24)
Total net financial assets/(liabilities)	377	(22)
Level 2 | Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	172	71
Long-term derivative assets	24	21
Current derivative liabilities	(168)	(66)
Long-term derivative liabilities	(31)	(19)
Total net financial assets/(liabilities)	(3)	7
Level 2 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	10	2
Long-term derivative assets	5	3
Total net financial assets/(liabilities)	15	5
Level 3
Fair Value of Derivatives
Total net financial assets/(liabilities)	(180)
Level 3 | Fair Value
Fair Value of Derivatives
Current derivative assets	66	95
Long-term derivative assets	32	8
Current derivative liabilities	(200)	(146)
Long-term derivative liabilities	(78)	(65)
Total net financial assets/(liabilities)	(180)	(108)
Level 3 | Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial assets/(liabilities)	0	0
Level 3 | Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial assets/(liabilities)	0	0
Level 3 | Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	66	95
Long-term derivative assets	32	8
Current derivative liabilities	(200)	(146)
Long-term derivative liabilities	(78)	(65)
Total net financial assets/(liabilities)	(180)	(108)
Level 3 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Total net financial assets/(liabilities)	$ 0	$ 0

RISK MANAGEMENT AND FINANCIA_10

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Level 3 Inputs (Details) $ in Millions	Mar. 31, 2022CAD ($)$ / bbl$ / MWh$ / MillionsofBTU-MMBTU	Dec. 31, 2021CAD ($)
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ 514	$ (359)
Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	514	(359)
Level 3
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(180)
Level 3 | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(180)	$ (108)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ 5
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	3.94
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	9.60
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	6.24
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (3)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	83.47
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	124.49
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	106.20
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (54)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	22.33
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	121.08
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	77.14
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (97)
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	3.48
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	15.02
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	6.23
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (31)
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	97.55
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	139.67
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	118.41

RISK MANAGEMENT AND FINANCIA_11

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Changes in Level 3 (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in net fair value of derivative assets and liabilities classified as Level 3
Level 3 net derivative liability at beginning of period	$ (108)	$ (191)
Total gain/(loss)
Included in earnings	(52)	(72)
Included in OCI	4	(5)
Settlements	(24)	149
Level 3 net derivative liability at end of period	$ (180)	$ (119)

RISK MANAGEMENT AND FINANCIA_12

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Other Financial Instruments (Details) - CAD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value of Other Financial Instruments
FMVA investments	$ 52,000,000		$ 52,000,000
Restricted long-term investments	594,000,000		630,000,000
Long-term debt, carrying value	75,200,000,000		74,400,000,000
Long-term debt	75,500,000,000		82,000,000,000
Level 1
Fair Value of Other Financial Instruments
Restricted long-term investments	213,000,000		217,000,000
Level 2
Fair Value of Other Financial Instruments
Restricted long-term investments	381,000,000		413,000,000
Net investment hedges
Fair Value of Other Financial Instruments
Unrealized foreign exchange gain (loss) on translation of United States dollar denominated debt	133,000,000	$ 105,000,000
Unrealized gain (loss) on change in fair value of outstanding forward exchange forward contracts	0	0
Fair Value
Fair Value of Other Financial Instruments
Unrealized holding losses	60,000,000	$ 45,000,000
Carrying value
Fair Value of Other Financial Instruments
Noncurrent notes receivable	$ 900,000,000		$ 1,000,000,000

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	22.40%	19.30%

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 45	$ 48
Interest cost	41	32
Expected return on plan assets1	(98)	(84)
Amortization of actuarial (gain)/loss1	(1)	14
Net periodic benefit (credit)/cost	$ (13)	$ 10