ENBRIDGE INC (ENB) [Rocket]

In millions of CAD, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Energy Services	26,917	19,283	29,374	26,228	23,282	20,364	20,842
Liquids Pipelines	9,639	10,423	10,219	8,589	8,913	8,176	5,589
Gas Transmission and Midstream	4,711	4,870	5,207	6,571	7,067	2,877	3,803
Gas Distribution						2,976	3,609
Other					5,116	167
Total revenues	19,432	18,817	19,697	20,797	44,378	34,560	33,794
Revenue growth [+]	3.3%	-4.5%	-5.3%	-53.1%	28.4%	2.3%
Energy Services	39.6%	-34.4%	12.0%	12.7%	14.3%	-2.3%
Liquids Pipelines	-7.5%	2.0%	19.0%	-3.6%	9.0%	46.3%
Gas Transmission and Midstream	-3.3%	-6.5%	-20.8%	-7.0%	145.6%	-24.3%
Gas Distribution						-17.5%
Cost of goods sold	28,702	20,669	31,004	28,297	24,174	24,005	2,292
Gross profit	-9,270	-1,852	-11,307	-7,500	20,204	10,555	31,502
Gross margin	-47.7%	-9.8%	-57.4%	-36.1%	45.5%	30.5%	93.2%
Selling, general and administrative [+]	6,712	6,749	6,991	6,792	6,442	4,358	4,131
General and administrative	6,712	6,749	6,991	6,792	6,442	4,358	4,131
Equity in earnings	1,711	1,136	1,503	1,509	1,102	428	475
Other operating expenses	-27,958	-20,253	-30,072	-25,535	-16	-848	22,855
EBITDA [+]	13,687	12,788	13,277	12,752	14,880	7,473	4,991
EBITDA growth	7.0%	-3.7%	4.1%	-14.3%	99.1%	49.7%
EBITDA margin	70.4%	68.0%	67.4%	61.3%	33.5%	21.6%	14.8%
Depreciation	3,504	3,418	3,095	2,965	2,883	2,063	1,866
EBITA	10,183	9,370	10,182	9,787	11,997	5,410	3,125
EBITA margin	52.4%	49.8%	51.7%	47.1%	27.0%	15.7%	9.2%
Amortization of intangibles	348	294	296	281	280	177	158
EBIT [+]	9,835	9,076	9,886	9,506	11,717	5,233	2,967
EBIT growth	8.4%	-8.2%	4.0%	-18.9%	123.9%	76.4%
EBIT margin	50.6%	48.2%	50.2%	45.7%	26.4%	15.1%	8.8%
Non-recurring items [+]	319	-17	123	3,181	9,044	2,224	630
Asset impairment			423	3,227	9,028	1,376	536
Loss (gain) on sale of business	319	-17	-300	-46	16	848	94
Interest expense	2,655	2,790	2,663	2,703	2,556	1,590	1,624
Interest expense	2,655	2,790	2,663	2,703	2,556	1,590	1,624
Other income (expense), net [+]	868	-2,113	435	-52	452	1,032	-702
Gain (loss) on foreign currency transactions	286	181	477	-522	237	91	-884
Other	374	74	258	516	199	93	88
Pre-tax income	7,729	4,190	7,535	3,570	569	2,451	11
Income taxes	1,415	774	1,708	237	-2,697	142	170
Tax rate	18.3%	18.5%	22.7%	6.6%		5.8%	1545.5%
Minority interest	125	53	122	451	407	240	-410
Net income	5,816	2,983	5,322	2,515	2,529	1,776	-37
Net margin	29.9%	15.9%	27.0%	12.1%	5.7%	5.1%	-0.1%

Basic EPS [+]	$2.87	$1.48	$2.64	$1.46	$1.66	$1.95	($0.04)
Growth	94.7%	-44.0%	80.9%	-12.0%	-14.9%	-4562.8%
Diluted EPS [+]	$2.87	$1.48	$2.63	$1.46	$1.65	$1.93	($0.04)
Growth	94.6%	-44.0%	80.9%	-11.8%	-14.7%	-4528.8%

Dividends per share [+]	$3.34	$3.24	$2.95	$2.68	$2.41	$2.12	$1.86
Growth	3.1%	9.8%	10.1%	11.2%	13.7%	14.0%

Shares outstanding (basic) [+]	2,023	2,020	2,017	1,724	1,525	911	847
Growth	0.1%	0.1%	17.0%	13.0%	67.4%	7.6%
Shares outstanding (diluted) [+]	2,025	2,021	2,020	1,727	1,532	918	847
Growth	0.2%	0.0%	17.0%	12.7%	66.9%	8.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.