SEDAR Interim Financial Statements

[ { "companyName": "TC Energy Corporation", "reportingPeriodEnd": "2026-03-31", "reportStatus": "Unaudited", "auditorName": null, "auditorKeyMatters": [], "balanceSheet": { "cashAndCashEquivalents": 1083, "accountsReceivable": 2380, "inventories": 857, "otherCurrentAssets": 2503, "currentAssetsOfDiscontinuedOperations": 5, "totalCurrentAssets": 6828, "plantPropertyAndEquipmentNet": 72021, "netInvestmentInLeases": 8230, "equityInvestments": 11435, "restrictedInvestments": 3563, "regulatoryAssets": 2974, "goodwill": 13244, "otherLongTermAssets": 2533, "totalAssets": 120828, "notesPayable": 2223, "accountsPayableAndOther": 4910, "dividendsPayable": 933, "accruedInterest": 843, "currentPortionOfLongTermDebt": 1424, "currentLiabilitiesOfDiscontinuedOperations": 169, "totalCurrentLiabilities": 10502, "regulatoryLiabilities": 5946, "otherLongTermLiabilities": 1087, "deferredIncomeTaxLiabilities": 7973, "longTermDebt": 45411, "juniorSubordinatedNotes": 12751, "totalLiabilities": 83670, "commonShares": 30287, "preferredShares": 2255, "additionalPaidInCapital": 0, "retainedEarnings": -5947, "accumulatedOtherComprehensiveIncome": 935, "controllingInterests": 27530, "nonControllingInterests": 9628, "totalEquity": 37158, "weightedAverageSharesOutstanding": 1041, "cashPerShare": 1.0403, "workingCapitalPerShare": -3.5293 }, "incomeStatement": { "revenues": { "canadianNaturalGasPipelines": 1454, "uSNaturalGasPipelines": 1769, "mexicoNaturalGasPipelines": 426, "powerAndEnergySolutions": 211, "corporate": 1, "totalRevenues": 3861 }, "incomeFromEquityInvestments": 337, "operatingExpenses": { "plantOperatingCostsAndOther": 1037, "commodityPurchasesResold": 73, "propertyTaxes": 194, "depreciationAndAmortization": 723, "totalOperatingExpenses": 2027 }, "financialCharges": { "interestExpense": 838, "allowanceForFundsUsedDuringConstruction": -39, "foreignExchangeGainsLossesNet": 0, "interestIncomeAndOther": -33, "totalFinancialCharges": 766 }, "incomeBeforeIncomeTaxes": 1405, "incomeTaxExpense": { "current": 67, "deferred": 187, "total": 254 }, "netIncome": 1151, "netIncomeAttributableToNonControllingInterests": 224, "netIncomeAttributableToControllingInterests": 927, "preferredShareDividends": 28, "netIncomeAttributableToCommonShares": 899, "earningsPerShareBasic": 0.86, "earningsPerShareDiluted": 0.86, "weightedAverageNumberOfCommonSharesBasic": 1041, "weightedAverageNumberOfCommonSharesDiluted": 1042 }, "cashFlowStatement": { "cashGeneratedFromOperations": { "netIncome": 1151, "depreciationAndAmortization": 723, "deferredIncomeTaxes": 187, "incomeFromEquityInvestments": -337, "distributionsReceivedFromOperatingActivitiesOfEquityInvestments": 532, "employeePostRetirementBenefitsFundingNetOfExpense": -4, "equityAllowanceForFundsUsedDuringConstruction": -33, "unrealizedGainsLossesOnFinancialInstruments": 188, "expectedCreditLossProvision": 19, "foreignExchangeGainsLossesNetIntercompanyLoan": -59, "other": -23, "increaseDecreaseInOperatingWorkingCapital": 259, "netCashProvidedByOperations": 2603 }, "investingActivities": { "capitalExpenditures": -1070, "capitalProjectsInDevelopment": -4, "contributionsToEquityInvestments": -233, "otherDistributionsFromEquityInvestments": 0, "deferredAmountsAndOther": 43, "netCashUsedInProvidedByInvestingActivities": -1264 }, "financingActivities": { "notesPayableIssuedRepaidNet": 985, "longTermDebtIssuedNetOfIssueCosts": 6, "longTermDebtRepaid": -510, "juniorSubordinatedNotesIssuedNetOfIssueCosts": 496, "dividendsOnCommonShares": -884, "dividendsOnPreferredShares": -27, "commonSharesIssuedNetOfIssueCosts": 62, "distributionsToNonControllingInterestsAndOther": -377, "amountsRelatedToFactoringArrangement": -226, "loanFromAffiliate": 32, "netCashUsedInProvidedByFinancingActivities": -443 }, "effectOfForeignExchangeRateChangesOnCashAndCashEquivalents": 19, "increaseDecreaseInCashAndCashEquivalents": 915, "cashAndCashEquivalentsBeginningOfPeriod": 168, "cashAndCashEquivalentsEndOfPeriod": 1083 }, "investmentsAndOtherAssets": [ { "type": "Equity Investment", "description": "Bruce Power (Note 14)", "ownershipPercentage": null, "value": 7746, "notes": "From Note 14 - Non-consolidated VIE" }, { "type": "Equity Investment", "description": "Coastal GasLink (Note 14)", "ownershipPercentage": null, "value": 873, "notes": "From Note 14 - Non-consolidated VIE" }, { "type": "Equity Investment", "description": "Other pipeline equity investments (Note 14)", "ownershipPercentage": null, "value": 158, "notes": "From Note 14" }, { "type": "Restricted Investments - LMCI", "description": "LMCI restricted investments (Note 12)", "ownershipPercentage": null, "value": 3173, "notes": "Fair value from Note 12; includes fixed income and equity securities" }, { "type": "Restricted Investments - Other", "description": "Other restricted investments (Note 12)", "ownershipPercentage": null, "value": 490, "notes": "Fair value from Note 12; for insurance claims and medical benefits" } ], "shareStructure": { "authorizedShares": null, "issuedShares": 1042, "classesOfShares": ["Common shares", "Preferred shares"], "warrants": [], "options": [], "rightsConvertibleInstruments": null }, "managementCompensation": { "currency": "CAD", "periods": [], "namedIndividuals": [], "otherRelatedPartyTransactions": [] }, "subsequentEvents": [ { "eventDate": "2026-04-13", "description": "TCPL fully repaid and retired $400 million of medium term notes bearing interest at a fixed rate of 4.35%.", "impactValue": -400 }, { "eventDate": "2026-04-17", "description": "TCPL issued $500 million of junior subordinated notes maturing in August 2056 with fixed interest rate of 5.13%.", "impactValue": 500 }, { "eventDate": "2026-04-17", "description": "TCPL issued US$500 million of junior subordinated notes maturing in October 2056 with fixed interest rate of 6.13% (first tranche).", "impactValue": 500 }, { "eventDate": "2026-04-17", "description": "TCPL issued US$500 million of junior subordinated notes maturing in October 2056 with fixed interest rate of 6.38% (second tranche).", "impactValue": 500 } ] } ]