Enbridge Operations and Financial Update
Q3 2021 Financial Results
EENBRIDGE
Q3
YTD
($ Millions, except per share amounts)
2021
2020
2021
2020
Quarterly Drivers
Liquids Pipelines
1,898
1,732
5,623 5,395
Gas Transmission & Midstream
986
945
2,928
3,017
Gas Distribution & Storage
296
315
1,403
1,330
Renewable Power Generation
89
93
356
361
Energy Services
(116) (110)
(277)
(37)
Eliminations and Other
116
Adjusted EBITDA1
3,269
22
2,997 10,314
281
6
10,072
Cash distributions in excess of equity earnings
52
197
248
479
Maintenance capital
(142)
(256)
(412)
(595)
Financing costs
(757)
(815)
(2,251) (2,425)
Current income tax
(89)
(83)
(210) (325)
Strong performance across business units.
Mainline volume recovery
✔ Challenging Energy Services conditions
Weaker USD currency
Operating segment impacts; partially offset
by hedging program
Lower USD currency interest expense
Distributions to Noncontrolling Interests
(66)
(68)
(207)
(232)
Lower utility maintenance spending
Other
23
116
72
257
Distributable Cash Flow1
2,290
2,088
7,554
7,231
DCF per share¹
1.13
1.03
3.73
3.58
Adjusted earnings per share1
0.59
0.48
2.06
1.86
Interest cost savings
Absence of significant MURS2 in Other
Robust operational performance drives strong financial results.
(1) Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA), Adjusted Earnings and Distributable Cash Flow (DCF) are non-GAAP measures. For more information on non-GAAP measures
please refer to disclosure in the Q3 earnings release and MD&A available at www.enbridge.com. (2) Makeup rights
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