None
SEDAR Interim Financial Statements
TRP · Price
[
{
"companyName": "TC Energy Corporation",
"reportingPeriodEnd": "2025-09-30",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"current": {
"cashAndCashEquivalents": 1802,
"accountsReceivable": 2474,
"inventories": 837,
"otherCurrentAssets": 2382,
"currentAssetsOfDiscontinuedOperations": 283,
"totalCurrentAssets": 7778,
"plantPropertyAndEquipment": 71233,
"netInvestmentInLeases": 8235,
"equityInvestments": 11149,
"restrictedInvestments": 3469,
"regulatoryAssets": 2906,
"goodwill": 13222,
"otherLongTermAssets": 2239,
"longTermAssetsOfDiscontinuedOperations": 3,
"totalAssets": 120234,
"notesPayable": 2390,
"accountsPayableAndOther": 4887,
"dividendsPayable": 901,
"accruedInterest": 831,
"currentPortionOfLongTermDebt": 2870,
"currentLiabilitiesOfDiscontinuedOperations": 420,
"totalCurrentLiabilities": 12299,
"regulatoryLiabilities": 5767,
"otherLongTermLiabilities": 950,
"deferredIncomeTaxLiabilities": 7540,
"longTermDebt": 44364,
"juniorSubordinatedNotes": 11738,
"longTermLiabilitiesOfDiscontinuedOperations": 0,
"totalLiabilities": 82658,
"commonShares": 30199,
"preferredShares": 2499,
"accumulatedDeficit": -6026,
"accumulatedOtherComprehensiveIncome": 793,
"controllingInterests": 27465,
"nonControllingInterests": 10111,
"totalEquity": 37576,
"totalLiabilitiesAndEquity": 120234
},
"prior": {
"cashAndCashEquivalents": 801,
"accountsReceivable": 2611,
"inventories": 747,
"otherCurrentAssets": 1339,
"currentAssetsOfDiscontinuedOperations": 235,
"totalCurrentAssets": 5733,
"plantPropertyAndEquipment": 77501,
"netInvestmentInLeases": 2477,
"equityInvestments": 10636,
"restrictedInvestments": 2998,
"regulatoryAssets": 2682,
"goodwill": 13670,
"otherLongTermAssets": 2410,
"longTermAssetsOfDiscontinuedOperations": 136,
"totalAssets": 118243,
"notesPayable": 387,
"accountsPayableAndOther": 5297,
"dividendsPayable": 874,
"accruedInterest": 828,
"currentPortionOfLongTermDebt": 2955,
"currentLiabilitiesOfDiscontinuedOperations": 170,
"totalCurrentLiabilities": 10511,
"regulatoryLiabilities": 5303,
"otherLongTermLiabilities": 1051,
"deferredIncomeTaxLiabilities": 6884,
"longTermDebt": 44976,
"juniorSubordinatedNotes": 11048,
"longTermLiabilitiesOfDiscontinuedOperations": 110,
"totalLiabilities": 79883,
"commonShares": 30101,
"preferredShares": 2499,
"accumulatedDeficit": -5241,
"accumulatedOtherComprehensiveIncome": 233,
"controllingInterests": 27592,
"nonControllingInterests": 10768,
"totalEquity": 38360,
"totalLiabilitiesAndEquity": 118243
},
"derivedMetrics": {
"cashPerShare": 1.7327,
"workingCapitalPerShare": -4.3462
}
},
"incomeStatement": {
"current": {
"revenues": 3704,
"incomeLossFromEquityInvestments": 345,
"operatingAndOtherExpenses": {
"plantOperatingCostsAndOther": 1151,
"commodityPurchasesResold": 54,
"propertyTaxes": 215,
"depreciationAndAmortization": 701,
"total": 2121
},
"netGainLossOnSaleOfAssets": 0,
"financialCharges": {
"interestExpense": 847,
"allowanceForFundsUsedDuringConstruction": -55,
"foreignExchangeGainsLossesNet": -30,
"interestIncomeAndOther": -47,
"total": 715
},
"incomeLossFromContinuingOperationsBeforeIncomeTaxes": 1213,
"incomeTaxExpenseRecoveryFromContinuingOperations": {
"current": 118,
"deferred": 127,
"total": 245
},
"netIncomeLossFromContinuingOperations": 968,
"netIncomeLossFromDiscontinuedOperationsNetOfTax": -204,
"netIncomeLoss": 764,
"netIncomeLossAttributableToNonControllingInterests": 127,
"netIncomeLossAttributableToControllingInterests": 637,
"preferredShareDividends": 28,
"netIncomeLossAttributableToCommonShares": 609,
"weightedAverageNumberOfCommonSharesBasic": 1040,
"weightedAverageNumberOfCommonSharesDiluted": 1040
},
"prior": {
"revenues": 3358,
"incomeLossFromEquityInvestments": 444,
"operatingAndOtherExpenses": {
"plantOperatingCostsAndOther": 1109,
"commodityPurchasesResold": 47,
"propertyTaxes": 207,
"depreciationAndAmortization": 628,
"total": 1991
},
"netGainLossOnSaleOfAssets": 572,
"financialCharges": {
"interestExpense": 777,
"allowanceForFundsUsedDuringConstruction": -210,
"foreignExchangeGainsLossesNet": 38,
"interestIncomeAndOther": -61,
"total": 544
},
"incomeLossFromContinuingOperationsBeforeIncomeTaxes": 1839,
"incomeTaxExpenseRecoveryFromContinuingOperations": {
"current": 207,
"deferred": 100,
"total": 307
},
"netIncomeLossFromContinuingOperations": 1532,
"netIncomeLossFromDiscontinuedOperationsNetOfTax": 119,
"netIncomeLoss": 1651,
"netIncomeLossAttributableToNonControllingInterests": 168,
"netIncomeLossAttributableToControllingInterests": 1483,
"preferredShareDividends": 26,
"netIncomeLossAttributableToCommonShares": 1457,
"weightedAverageNumberOfCommonSharesBasic": 1038,
"weightedAverageNumberOfCommonSharesDiluted": 1038
}
},
"cashFlowStatement": {
"current": {
"cashGeneratedFromOperations": {
"netIncomeLoss": 764,
"depreciationAndAmortization": 701,
"goodwillAndAssetImpairmentChargesAndOther": 0,
"deferredIncomeTaxes": 135,
"incomeLossFromEquityInvestments": -345,
"distributionsReceivedFromOperatingActivitiesOfEquityInvestments": 339,
"employeePostRetirementBenefitsFundingNetOfExpense": 1,
"netGainLossOnSaleOfAssets": 0,
"equityAllowanceForFundsUsedDuringConstruction": -46,
"unrealizedGainsLossesOnFinancialInstruments": 131,
"expectedCreditLossProvision": -14,
"foreignExchangeGainsLossesNetIntercompanyLoan": -76,
"other": 200,
"increaseDecreaseInOperatingWorkingCapital": 130,
"netCashProvidedByOperations": 1920
},
"investingActivities": {
"capitalExpenditures": -1255,
"capitalProjectsInDevelopment": -2,
"contributionsToEquityInvestments": -249,
"otherDistributionsFromEquityInvestments": 0,
"proceedsFromSaleOfAssetsNetOfTransactionCosts": 0,
"deferredAmountsAndOther": -87,
"netCashUsedInProvidedByInvestingActivities": -1593
},
"financingActivities": {
"notesPayableIssuedRepaidNet": -59,
"longTermDebtIssuedNetOfIssueCosts": 831,
"longTermDebtRepaid": -805,
"juniorSubordinatedNotesIssuedNetOfIssueCosts": 989,
"dividendsOnCommonShares": -885,
"dividendsOnPreferredShares": -29,
"commonSharesIssuedNetOfIssueCosts": 37,
"dispositionOfEquityInterestNetOfTransactionCosts": 0,
"contributionsFromNonControllingInterests": 0,
"distributionsToNonControllingInterestsAndOther": -111,
"cashReceivedFromFactoringArrangement": 101,
"netCashUsedInProvidedByFinancingActivities": 69
},
"effectOfForeignExchangeRateChangesOnCashAndCashEquivalents": -16,
"increaseDecreaseInCashAndCashEquivalentsIncludingCashBalancesClassifiedAsAssetsHeldForSale": 380,
"cashBalancesClassifiedAsAssetsHeldForSale": 0,
"increaseDecreaseInCashAndCashEquivalents": 380,
"cashAndCashEquivalentsBeginningOfPeriod": 1422,
"cashAndCashEquivalentsEndOfPeriod": 1802
},
"prior": {
"cashGeneratedFromOperations": {
"netIncomeLoss": 1651,
"depreciationAndAmortization": 713,
"goodwillAndAssetImpairmentChargesAndOther": 21,
"deferredIncomeTaxes": 165,
"incomeLossFromEquityInvestments": -461,
"distributionsReceivedFromOperatingActivitiesOfEquityInvestments": 362,
"employeePostRetirementBenefitsFundingNetOfExpense": 3,
"netGainLossOnSaleOfAssets": -572,
"equityAllowanceForFundsUsedDuringConstruction": -139,
"unrealizedGainsLossesOnFinancialInstruments": -78,
"expectedCreditLossProvision": 4,
"foreignExchangeGainsLossesNetIntercompanyLoan": 29,
"other": 14,
"increaseDecreaseInOperatingWorkingCapital": 203,
"netCashProvidedByOperations": 1915
},
"investingActivities": {
"capitalExpenditures": -1756,
"capitalProjectsInDevelopment": -8,
"contributionsToEquityInvestments": -345,
"otherDistributionsFromEquityInvestments": 509,
"proceedsFromSaleOfAssetsNetOfTransactionCosts": 743,
"deferredAmountsAndOther": 2,
"netCashUsedInProvidedByInvestingActivities": -855
},
"financingActivities": {
"notesPayableIssuedRepaidNet": -1137,
"longTermDebtIssuedNetOfIssueCosts": 7428,
"longTermDebtRepaid": 0,
"juniorSubordinatedNotesIssuedNetOfIssueCosts": 1465,
"dividendsOnCommonShares": -996,
"dividendsOnPreferredShares": -26,
"commonSharesIssuedNetOfIssueCosts": 21,
"dispositionOfEquityInterestNetOfTransactionCosts": -7,
"contributionsFromNonControllingInterests": 11,
"distributionsToNonControllingInterestsAndOther": -303,
"cashReceivedFromFactoringArrangement": 0,
"netCashUsedInProvidedByFinancingActivities": 6456
},
"effectOfForeignExchangeRateChangesOnCashAndCashEquivalents": -36,
"increaseDecreaseInCashAndCashEquivalentsIncludingCashBalancesClassifiedAsAssetsHeldForSale": 7480,
"cashBalancesClassifiedAsAssetsHeldForSale": 34,
"increaseDecreaseInCashAndCashEquivalents": 7514,
"cashAndCashEquivalentsBeginningOfPeriod": 2474,
"cashAndCashEquivalentsEndOfPeriod": 9988
}
},
"investmentsAndOtherAssets": [
{
"type": "Joint Venture",
"description": "Investment in Bruce Power",
"ownershipPercentage": null,
"value": 7585,
"notes": "Non-consolidated VIE, equity investment"
},
{
"type": "Joint Venture",
"description": "Investment in Coastal GasLink",
"ownershipPercentage": null,
"value": 852,
"notes": "Non-consolidated VIE, equity investment"
},
{
"type": "Investment",
"description": "Other pipeline equity investments",
"ownershipPercentage": null,
"value": 159,
"notes": "Non-consolidated VIE"
},
{
"type": "Marketable Securities",
"description": "Restricted investments",
"ownershipPercentage": null,
"value": 3469,
"notes": "Available-for-sale assets and equity securities, see Note 12"
},
{
"type": "Lease",
"description": "Net investment in leases (TGNH pipelines)",
"ownershipPercentage": null,
"value": 8235,
"notes": "Sales-type lease, see Note 13"
}
],
"shareStructure": {
"authorizedShares": null,
"issuedShares": 1041,
"classesOfShares": ["Common", "Series 1 Preferred", "Series 2 Preferred", "Series 3 Preferred", "Series 4 Preferred", "Series 5 Preferred", "Series 6 Preferred", "Series 7 Preferred", "Series 9 Preferred", "Series 10 Preferred", "Series 11 Preferred"],
"warrants": [],
"options": [],
"rightsConvertibleInstruments": null
},
"managementCompensation": null,
"otherRelatedPartyTransactions": [
{
"counterparty": "South Bow Corporation",
"description": "Transition Services Agreement revenues",
"amount": 2,
"period": "three months ended September 30, 2025"
},
{
"counterparty": "South Bow Corporation",
"description": "Recoveries under Separation Agreement",
"amount": 24,
"period": "nine months ended September 30, 2025"
}
],
"subsequentEvents": [
{
"eventDate": "2025-10-10",
"description": "Great Lakes Gas Transmission Limited Partnership issued a US$205 million unsecured term loan maturing in October 2028",
"impactValue": 205
},
{
"eventDate": "2025-10-14",
"description": "TCPL retired US$92 million of senior unsecured notes bearing interest at a fixed rate of 7.06 per cent",
"impactValue": -92
},
{
"eventDate": "2025-10-01",
"description": "TCPL issued US$370 million of junior subordinated notes, including the exercise of the over-allotment option, maturing in 2085 with a fixed interest rate of 6.25 per cent",
"impactValue": 370
}
]
}
]
More from TC Energy Corp
May 01, 2026 · 18:41