Slide 1: New Financial Reporting Format
New Financial Reporting Format Investment Community Presentation 22 April 2016 John Whelen, Executive Vice President & CFO Wanda Opheim, Senior Vice President, Finance
Slide 2: Legal Notice
Legal Notice SLIDE 2 This presentation contains references to adjusted earnings before interest and taxes (EBIT), adjusted earnings/(loss) and available cash flow from operations (ACFFO), each of which is a non-GAAP measure. Adjusted EBIT represents EBIT adjusted for unusual, non-recurring or non-op
Slide 3: New Financial Reporting Format
New Financial Reporting Format SLIDE 3 CHANGES IMPACTS MD&A FINANCIAL PRESENTATION STATEMENT NOTES Amended segments and segmented reporting Liquids Pipelines Gas Distribution Gas Pipelines & Processing Green Power & Transmission Energy Services - Segmented EBIT - Consolidated financing charges,
Slide 4: Benefits of Financial Reporting Format Changes
Benefits of Financial Reporting Format Changes SLIDE 4 1) Better aligned with management of the business and internal decision making 2) Clearly provides operating performance of the underlying business Increased transparency and comparability
Slide 5: Old versus New Segmentation
Old versus New Segmentation SLIDE 5 OLD SEGMENTS (December 31, 2015) NEW SEGMENTS Liquids Pipelines Liquids Pipelines Gas Distribution Gas Distribution Gas Pipelines, Processing & Energy Services Gas Pipelines & Processing Sponsored Investments Green Power & Transmission Corporate Energy Services El
Slide 6: Updated Segmentation – Asset Mapping: Liquids Pipelines
Updated Segmentation – Asset Mapping Liquids Pipelines SLIDE 6 OLD SEGMENTS (December 31, 2015) NEW SEGMENT Sponsored Investments Liquids Pipelines The Fund Group Canadian Mainline Liquids Pipelines: Canadian Mainline ● Regional Oil Sands Lakehead System ● Bakken System ● Southern Lights ● Feeder Pi
Slide 7: Updated Segmentation – Asset Mapping: Gas Distribution
Updated Segmentation – Asset Mapping Gas Distribution SLIDE 7 OLD SEGMENTS (December 31, 2015) NEW SEGMENT Gas Distribution Gas Distribution Enbridge Gas Distribution Enbridge Gas Distribution Other Gas Distribution and Storage Noverco Other Gas Distribution and Storage Corporate Noverco Other Corpo
Slide 8: Updated Segmentation – Asset Mapping: Gas Pipelines & Processing
Updated Segmentation – Asset Mapping Gas Pipelines & Processing SLIDE 8 OLD SEGMENTS (December 31, 2015) NEW SEGMENT Sponsored Investments Gas Pipelines & Processing The Fund Group Aux Sable Liquids Pipelines Alliance Gas Pipelines: Alliance Vector Green Power Canadian Midstream Enbridge Energy Part
Slide 9: Updated Segmentation – Asset Mapping: Green Power & Transmission
Updated Segmentation – Asset Mapping Green Power & Transmission SLIDE 9 OLD SEGMENTS (December 31, 2015) NEW SEGMENT Sponsored Investments Green Power & Transmission The Fund Group Aggregated results Liquids Pipelines Gas Pipelines Green Power Gas Pipelines, Processing & Energy Services Aux Sable Ca
Slide 10: Updated Segmentation – Asset Mapping: Energy Services
Updated Segmentation – Asset Mapping Energy Services SLIDE 10 OLD SEGMENTS (December 31, 2015) NEW SEGMENT Gas Pipelines, Processing & Energy Services Energy Services Aux Sable Canadian Midstream Aggregated results Vector Pipeline Energy Services Gulf Offshore Other
Slide 11: New Reporting Segments Summary
New Reporting Segments Summary SLIDE 11 Liquids Gas Gas Pipelines Green Power & Energy Pipelines Distribution & Processing Transmission Services Eliminations & Other Canadian Mainline Enbridge Gas Aux Sable Aggregate results Aggregate results Operating and Lakehead System Distribution Alliance admin
Slide 12: MD&A Performance Overview
MD&A Performance Overview SLIDE 12 2015 Liquids Pipelines 3,384 Gas Distribution 446 Gas Pipelines & Processing 336 Green Power & Transmission 175 Energy Services 61 Eliminations & Other (246) Adjusted EBIT $4,156 Interest expense (1,273) Income taxes (expense)/recovery (486) Noncontrolling interest
Slide 13: MD&A Performance Overview
MD&A Performance Overview SLIDE 13 2015 Adjusted EBIT $4,156 Depreciation and amortization* 2,024 Maintenance capital* (720) Interest expense (1,273) Current income taxes (160) Preferred share dividends (288) Distributions to redeemable noncontrolling interests (114) Distributions to noncontrolling
Slide 14: Enterprise Reporting Implications
Enterprise Reporting Implications Effective January 1, 2016 SLIDE 14 Enbridge Inc. • First quarter 2016 reporting package uses new financial reporting format ‒ Financial statements, MD&A and news release ‒ To be filed May 12, 2016 • 2015 Financial statements and MD&A to be amended using new financia
Slide 15: Supplemental Financial Information Package
Supplemental Financial Information Package SLIDE 15 • 2014 and 2015 historical results under new financial reporting format • Consolidated performance overview • Segmented performance overview • Reconciliation of Sponsored Investments’ performance • “Bridge” between historical and new presentation o
Slide 16: Q&A
Q&A