Enhanced Investments - Financial Portal

Published: 2020-02-14

ENBRIDGE GAS INC.
(a subsidiary of Enbridge Inc.)
Earnings Coverage Ratios
December 31, 2019

ENBRIDGE GAS INC.
	SUPPLEMENTAL FINANCIAL INFORMATION (UNAUDITED)
	EXHIBIT TO THE CONSOLIDATED FINANCIAL STATEMENTS
		EARNINGS COVERAGE RATIOS
			The following earnings coverage ratios for Enbridge Gas Inc. (the Company) have been calculated on a consolidated basis for the respective 12 months ended December 31, 2019 and 2018, and are derived from audited financial information in each case prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP).
			Adjustments for normal course issuances and repayments of long-term debt subsequent to December 31, 2019 and 2018 would not materially affect the ratios and, as a result, have not been made. The earnings coverage ratios set forth below do not purport to be indicative of earnings coverage ratios for any future periods.
				December 31,		December 31,
			Twelve month period ended		2019		2018
			Earnings coverage1		2.5		2.6
			1	Earnings coverage on a net earnings basis is equal to earnings attributable to the common shareholders plus net interest expense and income taxes divided by net interest expense plus capitalized interest.
			The Company evaluates its performance using a variety of measures. Earnings coverage discussed above is not defined under U.S. GAAP and, therefore, should not be considered in isolation or as an alternative to, or more meaningful than, net earnings as determined in accordance with U.S. GAAP as an indicator of the Company’s financial performance or liquidity. This measure is not necessarily comparable to a similarly titled measure of another company.
			The Company’s interest requirements amounted to approximately $405 million for the 12 months ended December 31, 2019 (2018 - $396 million). The Company’s earnings before interest and income taxes for the 12 months ended December 31, 2019 were approximately $1,014 million (2018 - $1,010 million), which is 2.5 times the Company’s interest requirements for this period (2018 - 2.6 times).

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329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.