TC Energy Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	1,802	801	3,678	620	673	1,530
Trading Asset Securities	370	329	570	608	159	188
Cash & Short-Term Investments	2,172	1,130	4,248	1,228	832	1,718
Cash Growth	-56.90%	-73.40%	245.93%	47.60%	-51.57%	12.80%
Accounts Receivable	2,730	3,109	2,884	4,070	3,294	2,294
Other Receivables	-	-	-	496	640	-
Receivables	2,730	3,109	2,884	4,566	5,151	2,294
Inventory	837	747	771	936	724	629
Prepaid Expenses	-	86	87	118	112	126
Restricted Cash	-	128	28	106	273	142
Other Current Assets	2,039	533	3,354	378	331	292
Total Current Assets	7,778	5,733	11,372	7,332	7,423	5,201
Property, Plant & Equipment	71,233	77,501	69,451	75,940	70,182	69,775
Long-Term Investments	11,272	10,749	9,356	9,612	8,457	6,696
Goodwill	13,222	13,670	12,532	12,843	12,582	12,679
Long-Term Accounts Receivable	8,877	3,085	2,720	2,250	249	192
Long-Term Deferred Tax Assets	-	428	1,319	1,070	509	177
Other Long-Term Assets	7,852	7,077	18,284	5,301	4,578	4,242
Total Assets	120,234	118,243	125,034	114,348	104,218	100,300
Accounts Payable	4,466	3,699	3,092	4,665	4,464	3,406
Accrued Expenses	831	828	913	705	652	595
Short-Term Debt	2,390	387	-	6,262	5,166	4,176
Current Portion of Long-Term Debt	2,880	2,976	2,956	1,924	1,330	1,993
Current Portion of Leases	-	60	57	54	49	56
Current Income Taxes Payable	-	143	76	-	-	-
Current Unearned Revenue	28	30	47	599	90	129
Other Current Liabilities	1,704	2,388	4,676	2,698	1,290	1,632
Total Current Liabilities	12,299	10,511	11,817	16,907	13,041	11,987
Long-Term Debt	56,130	56,142	60,292	50,190	46,288	43,460
Long-Term Leases	-	451	400	379	380	427
Long-Term Unearned Revenue	1	-	-	32	184	203
Pension & Post-Retirement Benefits	-	94	97	111	174	503
Long-Term Deferred Tax Liabilities	7,540	6,884	6,972	7,648	6,142	5,806
Other Long-Term Liabilities	6,688	5,801	6,448	4,965	4,613	4,441
Total Liabilities	82,658	79,883	86,026	80,232	70,822	66,827
Common Stock	30,199	30,101	30,002	28,995	26,716	24,488
Additional Paid-In Capital	-	-	-	722	729	2
Retained Earnings	-6,026	-5,241	-2,997	819	3,773	5,367
Comprehensive Income & Other	793	233	49	955	-1,434	-2,439
Total Common Equity	24,966	25,093	27,054	31,491	29,784	27,418
Minority Interest	10,111	10,768	9,455	126	125	2,075
Shareholders' Equity	37,576	38,360	39,008	34,116	33,396	33,473
Total Liabilities & Equity	120,234	118,243	125,034	114,348	104,218	100,300
Total Debt	61,400	60,016	63,705	58,809	53,213	50,112
Net Cash (Debt)	-59,228	-58,886	-59,457	-57,581	-52,381	-48,394
Net Cash Per Share	-56.98	-56.73	-57.73	-57.81	-53.78	-51.48
Filing Date Shares Outstanding	1,000	1,000	1,037	1,000	981	940
Total Common Shares Outstanding	1,041	1,039	1,037	1,018	981	940
Working Capital	-4,521	-4,778	-445	-9,575	-5,618	-6,786
Book Value Per Share	23.98	24.15	26.08	30.93	30.36	29.17
Tangible Book Value	11,744	11,423	14,522	18,648	17,202	14,739
Tangible Book Value Per Share	11.28	10.99	14.00	18.32	17.54	15.68
Machinery	-	-	-	1,064	1,020	1,025
Construction In Progress	-	10,998	7,692	6,314	6,948	8,890

Source: S&P Global Market Intelligence. Standard template. Financial Sources.