8-KOther EventsExhibits & Filings

ENBRIDGE INC 8-K Report, Corporate Update (May 10, 2019)

Filed May 10, 2019For Securities:ENBENBMFEBBGFEBRGFEBRZFENBGFENBRFENFFFEBGEFENBFFENBHFENBNFENBOFENBSFEBBNFENNPF

Summary

This 8-K filing by Enbridge Inc. (ENB) serves as an update to its 2018 Annual Report, specifically regarding its consolidated financial statements. The primary purpose is to incorporate condensed consolidating financial information for its wholly-owned subsidiaries, Enbridge Energy Partners, L.P. (EEP) and Spectra Energy Partners, LP (SEP). This inclusion is in accordance with Rule 3-10 of Regulation S-X, which allows parent companies to provide this information instead of separate full financial statements for these guaranteeing subsidiaries. Investors should note that this filing does not represent a comprehensive update of Enbridge's financial performance or events occurring after December 31, 2018. Instead, it provides supplemental detail on the financial position and activities of EEP and SEP as they relate to their guarantees of certain outstanding notes for both the parent company and the subsidiaries. The independent registered public accounting firm's revised report is also included, reflecting these adjustments.

Key Highlights

  • 1Filing updates the 2018 Annual Report's consolidated financial statements.
  • 2Includes condensed consolidating financial information for subsidiaries EEP and SEP.
  • 3This is done in reliance on Rule 3-10 of Regulation S-X.
  • 4EEP and SEP are wholly-owned subsidiaries of Enbridge Inc.
  • 5The subsidiaries guarantee certain outstanding notes of Enbridge and vice-versa.
  • 6A revised report from the independent registered public accounting firm is included.
  • 7The financial statements do not reflect events occurring after December 31, 2018, except as noted.

Frequently Asked Questions

The primary reason for this 8-K filing is to update Enbridge Inc.'s 2018 Annual Report by including condensed consolidating financial information for its wholly-owned subsidiaries, Enbridge Energy Partners, L.P. (EEP) and Spectra Energy Partners, LP (SEP). This is done to comply with Rule 3-10 of Regulation S-X concerning financial statements of guarantors.

No, this filing does not present new or updated consolidated financial results for Enbridge Inc. for periods after December 31, 2018. The updated information pertains specifically to the consolidating financial statements of EEP and SEP in relation to their guarantee arrangements.

EEP and SEP are wholly-owned subsidiaries that guarantee certain outstanding notes of Enbridge Inc., and in turn, Enbridge Inc. guarantees certain notes of EEP and SEP. Rule 3-10 of Regulation S-X requires financial information for such guarantors. This filing provides condensed consolidating financial information for these subsidiaries instead of their full separate financial statements.

The revised report from PricewaterhouseCoopers LLP is included to reflect the updated consolidated financial statements and the inclusion of the condensed consolidating financial information for EEP and SEP. It signifies their updated attestation regarding these financial disclosures.