ENBRIDGE INC PP&E Disclosure
December 31, |
Weighted Average Depreciation Rate |
2025 |
2024 |
(millions of Canadian dollars) |
|
|
|
Pipelines |
2.8 % |
72,233 |
73,633 |
Facilities and equipment |
3.2 % |
44,101 |
43,439 |
Land and right-of-way1 |
2.9 % |
4,330 |
4,181 |
Gas mains, services and other |
3.0 % |
27,927 |
26,925 |
Storage |
2.5 % |
6,673 |
6,455 |
Wind turbines, solar panels and other |
3.4 % |
5,818 |
4,798 |
Other |
9.3 % |
4,416 |
3,987 |
Under construction |
— % |
7,240 |
5,648 |
Total property, plant and equipment2 |
|
172,738 |
169,066 |
Total accumulated depreciation2 |
|
(41,140) |
(37,962) |
Property, plant and equipment, net |
|
131,598 |
131,104 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 9, 2024 | |
| 2022 | Feb 10, 2023 | |
| 2021 | Feb 11, 2022 | |
| 2020 | Feb 12, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2018 | Feb 15, 2019 | |
| 2017 | Feb 16, 2018 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.