ENB FY 2009 Earnings Report — Enbridge Inc. Revenue & Financial Results | Market Cap Arena

Enbridge Inc.ENB

FY 2009 Earnings

Reported December 30, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$9.1B	—	$11.8B	—	-22.7%
Op. Income	$922M	—	$1.0B	—	-7.9%
Gross Margin	27.7%	—	20.7%	—	7.0pp
Net Margin	12.5%	—	8.2%	—	4.3pp
EPS (Diluted)	$1.56	—	$1.33	—	17.0%
Free Cash Flow	-$953M	—	-$1.6B	—	42.0%

Revenue Flow

Item	Amount
REVENUE	$9.1B
Cost of Revenue	$6.6B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.0B
Other Expenses	$559M
Operating Expenses	$1.6B
Cost & Expenses	$8.2B
OPERATING INCOME	$922M
Interest Income	$0
Interest Expense	$437M
Other Income/Expenses	$444M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$224M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$559M
EBIT	$1.8B
EBITDA	$2.4B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$9.1B
Cost of Revenue	$6.6B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.0B
Other Expenses	$559M
Operating Expenses	$1.6B
Cost & Expenses	$8.2B
OPERATING INCOME	$922M
Interest Income	$0
Interest Expense	$437M
Other Income/Expenses	$444M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$224M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$559M
EBIT	$1.8B
EBITDA	$2.4B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$559M
Stock-Based Compensation	$0
Deferred Income Tax	$159M
Other Non-Cash Items	-$563M
Change in Working Capital	$178M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$2.4B
Acquisitions (Net)	-$106M
Purchases of Investments	-$263M
Sales/Maturities of Investments	$391M
Other Investing Activities	-$12M
NET CASH FROM INVESTING	-$2.4B
Net Debt Issuance	$866M
Common Stock Repurchased	$0
Common Dividends Paid	-$303M
Other Financing Activities	$227M
NET CASH FROM FINANCING	$811M
FREE CASH FLOW	-$953M
Net Change in Cash	-$157M

Balance Sheet

Item	Amount
Cash & Equivalents	$239M
Short-Term Investments	$0
Net Receivables	$1.8B
Inventory	$573M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$13.8B
Goodwill	$272M
Intangible Assets	$357M
Long-Term Investments	$1.7B
Tax Assets	$93M
Other Non-Current Assets	$1.8B
TOTAL NON-CURRENT ASSETS	$18.0B
TOTAL ASSETS	$20.6B
Account Payables	$1.8B
Short-Term Debt	$894M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$9.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.6B
Other Non-Current Liabilities	$883M
TOTAL NON-CURRENT LIABILITIES	$12.0B
TOTAL LIABILITIES	$14.8B
Common Stock	$0
Additional Paid-In Capital	$2.5B
Retained Earnings	$3.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$397M
Other Equity	-$113M
TOTAL STOCKHOLDERS' EQUITY	$5.3B
Minority Interest	$532M
TOTAL EQUITY	$5.8B
TOTAL LIABILITIES & EQUITY	$20.6B
Total Debt	$10.4B
Net Debt	$10.1B