SEDAR Interim Financial Statements

[
  {
    "companyName": "Pembina Pipeline Corporation",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": "KPMG LLP",
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 149,
      "tradeReceivablesAndOther": 868,
      "incomeTaxReceivable": null,
      "inventory": 304,
      "derivativeFinancialInstruments": 15,
      "totalCurrentAssets": 1336,
      "propertyPlantAndEquipment": 22599,
      "intangibleAssetsAndGoodwill": 6402,
      "investmentsInEquityAccountedInvestees": 4194,
      "rightOfUseAssets": 554,
      "financeLeaseReceivables": 241,
      "otherAssets": 119,
      "totalNonCurrentAssets": 34109,
      "totalAssets": 35445,
      "tradePayablesAndOther": 1253,
      "loansAndBorrowingsCurrent": 1093,
      "leaseLiabilitiesCurrent": 85,
      "contractLiabilitiesCurrent": 47,
      "derivativeFinancialInstrumentsCurrent": 21,
      "totalCurrentLiabilities": 2499,
      "loansAndBorrowingsNonCurrent": 10745,
      "subordinatedHybridNotes": 795,
      "leaseLiabilitiesNonCurrent": 572,
      "decommissioningProvision": 521,
      "contractLiabilitiesNonCurrent": 144,
      "deferredTaxLiabilities": 2897,
      "derivativeFinancialInstrumentsNonCurrent": 104,
      "otherLiabilities": 167,
      "totalNonCurrentLiabilities": 15945,
      "totalLiabilities": 18444,
      "totalEquity": 17001,
      "totalLiabilitiesAndEquity": 35445,
      "cashPerShare": 0.2565,
      "workingCapitalPerShare": -2.0017
    },
    "incomeStatement": {
      "revenue": 5865,
      "costOfSales": 3537,
      "shareOfProfitLossFromEquityAccountedInvestees": 38,
      "grossProfit": 2366,
      "generalAndAdministrative": 357,
      "otherIncomeExpense": -15,
      "lossOnAcquisition": null,
      "resultsFromOperatingActivities": 2024,
      "netFinanceCosts": 454,
      "earningsBeforeIncomeTax": 1570,
      "currentTaxExpense": 338,
      "deferredTaxExpenseRecovery": 27,
      "incomeTaxExpenseRecovery": 365,
      "earnings": 1205,
      "earningsAttributableToShareholders": 1205,
      "earningsAttributableToNonControllingInterest": null,
      "otherComprehensiveIncomeLossNetOfTax": -185,
      "totalComprehensiveIncomeAttributableToShareholders": 1020,
      "earningsPerCommonShareBasic": 1.88,
      "earningsPerCommonShareDiluted": 1.88,
      "weightedAverageCommonSharesBasic": 581.0,
      "weightedAverageCommonSharesDiluted": 582.0
    },
    "cashFlowStatement": {
      "cashFlowFromOperatingActivities": {
        "earnings": 1205,
        "shareOfProfitLossFromEquityAccountedInvestees": -38,
        "depreciationAndAmortization": 731,
        "lossOnAcquisition": null,
        "unrealizedGainLossFromDerivativeInstruments": -41,
        "netFinanceCosts": 454,
        "shareBasedCompensationExpense": 68,
        "incomeTaxExpenseRecovery": 365,
        "gainOnAssetDisposal": -23,
        "derecognitionOfInsuranceContractProvision": null,
        "distributionsFromEquityAccountedInvestees": 396,
        "netInterestPaid": -464,
        "shareBasedCompensationPayment": -89,
        "taxesPaid": -157,
        "changeInNonCashOperatingWorkingCapital": 57,
        "netChangeInContractLiabilities": -1,
        "other": -23,
        "total": 2440
      },
      "cashFlowFromFinancingActivities": {
        "netDecreaseIncreaseInBankBorrowings": 461,
        "proceedsFromIssuanceOfLongTermDebtNetOfIssueCosts": 195,
        "proceedsFromSubscriptionReceipts": null,
        "repaymentOfLongTermDebt": -660,
        "repaymentOfLeaseLiability": -62,
        "issuanceOfCommonSharesOnExerciseOfOptions": 6,
        "redemptionOfPreferredShares": -226,
        "commonShareDividendsPaid": -1226,
        "preferredShareDividendsPaid": -102,
        "distributionsToNonControllingInterest": null,
        "purchaseOfNonControllingInterest": null,
        "total": -1614
      },
      "cashFlowFromInvestingActivities": {
        "capitalExpenditures": -549,
        "contributionsToEquityAccountedInvestees": -283,
        "acquisitionNetOfCashAcquired": null,
        "proceedsFromSaleOfAssets": 6,
        "interestPaidDuringConstruction": -19,
        "returnOfCapitalFromEquityAccountedInvestees": null,
        "changesInNonCashInvestingWorkingCapitalAndOther": 28,
        "total": -817
      },
      "changeInCashAndCashEquivalents": 9,
      "effectOfMovementInExchangeRatesOnCashHeld": -1,
      "cashAndCashEquivalentsBeginningOfPeriod": 141,
      "cashAndCashEquivalentsEndOfPeriod": 149
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Joint Venture",
        "description": "PGI",
        "ownershipPercentage": 60.0,
        "value": 3605,
        "notes": "PGI share of profit for the nine months ended September 30, 2025, includes an impairment of a single cash generating unit and an impairment of an asset within PGI of $146 million (net to Pembina, after tax), due to contract expirations and future utilization uncertainty."
      },
      {
        "type": "Joint Venture",
        "description": "Cedar LNG",
        "ownershipPercentage": 49.9,
        "value": 475,
        "notes": ""
      },
      {
        "type": "Joint Venture",
        "description": "Other (Grand Valley, Fort Corp, ACG, and Greenlight)",
        "ownershipPercentage": null,
        "value": 114,
        "notes": ""
      }
    ],
    "shareStructure": {
      "authorizedShares": null,
      "issuedShares": 581.0,
      "classesOfShares": [
        "Common Shares",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 1",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 3",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 5",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 7",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 15",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 17",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 19",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 21",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 22",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 25",
        "Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 22",
        "Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 2021-A"
      ],
      "warrants": [],
      "options": [],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {},
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "PGI",
          "description": "Services provided by Pembina (management, operational oversight, fixed fee and cost recovery)",
          "amount": 58,
          "period": "3 months ended September 30, 2025"
        },
        {
          "counterparty": "Cedar LNG",
          "description": "Services provided by Pembina (management, operational oversight, fixed fee and cost recovery)",
          "amount": 5,
          "period": "3 months ended September 30, 2025"
        },
        {
          "counterparty": "PGI",
          "description": "Services provided by Pembina (management, operational oversight, fixed fee and cost recovery)",
          "amount": 179,
          "period": "9 months ended September 30, 2025"
        },
        {
          "counterparty": "Cedar LNG",
          "description": "Services provided by Pembina (management, operational oversight, fixed fee and cost recovery)",
          "amount": 14,
          "period": "9 months ended September 30, 2025"
        },
        {
          "counterparty": "PGI",
          "description": "Services received by Pembina",
          "amount": 2,
          "period": "3 months ended September 30, 2025"
        },
        {
          "counterparty": "PGI",
          "description": "Services received by Pembina",
          "amount": 6,
          "period": "9 months ended September 30, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-10-10",
        "description": "Closed a $225 million offering of Series 2 Subordinated Notes pursuant to a re-opening. Following closing, $425 million aggregate principal amount of Series 2 Subordinated Notes are issued and outstanding.",
        "impactValue": 225
      },
      {
        "eventDate": "2025-10-31",
        "description": "Closed a $600 million non-revolving term loan (Two-Year Term Loan) with certain existing lenders. The proceeds have been used to repay the $270 million term loan outstanding at Alliance, and existing amounts drawn under Pembina's $2.5 billion revolving credit facility.",
        "impactValue": 600
      }
    ]
  }
]