TC Energy Balance Sheet

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	168	801	3,678	620	673
Trading Asset Securities	413	329	570	608	159
Cash & Short-Term Investments	581	1,130	4,248	1,228	832
Cash Growth	-48.58%	-73.40%	245.93%	47.60%	-51.57%
Accounts Receivable	4,266	3,109	2,884	4,070	3,294
Other Receivables	-	-	-	496	640
Receivables	4,266	3,109	2,884	4,566	5,151
Inventory	782	747	771	936	724
Prepaid Expenses	82	86	87	118	112
Restricted Cash	93	128	28	106	273
Other Current Assets	512	533	3,354	378	331
Total Current Assets	6,316	5,733	11,372	7,332	7,423
Property, Plant & Equipment	71,054	77,501	69,451	75,940	70,182
Long-Term Investments	11,495	10,749	9,356	9,612	8,457
Goodwill	13,016	13,670	12,532	12,843	12,582
Long-Term Accounts Receivable	8,737	3,085	2,720	2,250	249
Long-Term Deferred Tax Assets	356	428	1,319	1,070	509
Other Long-Term Assets	7,777	7,077	18,284	5,301	4,578
Total Assets	118,751	118,243	125,034	114,348	104,218
Accounts Payable	3,263	3,699	3,092	4,665	4,464
Accrued Expenses	1,107	1,047	913	705	652
Short-Term Debt	1,551	387	-	6,262	5,166
Current Portion of Long-Term Debt	1,553	2,976	2,956	1,924	1,330
Current Portion of Leases	61	60	57	54	49
Current Income Taxes Payable	38	143	76	-	-
Current Unearned Revenue	46	30	47	599	90
Other Current Liabilities	2,340	2,169	4,676	2,698	1,290
Total Current Liabilities	9,959	10,511	11,817	16,907	13,041
Long-Term Debt	57,486	56,142	60,292	50,190	46,288
Long-Term Leases	370	451	400	379	380
Long-Term Unearned Revenue	-	-	-	32	184
Pension & Post-Retirement Benefits	69	94	97	111	174
Long-Term Deferred Tax Liabilities	7,677	6,884	6,972	7,648	6,142
Other Long-Term Liabilities	6,291	5,801	6,448	4,965	4,613
Total Liabilities	81,852	79,883	86,026	80,232	70,822
Common Stock	30,218	30,101	30,002	28,995	26,716
Additional Paid-In Capital	-	-	-	722	729
Retained Earnings	-5,925	-5,241	-2,997	819	3,773
Comprehensive Income & Other	747	233	49	955	-1,434
Total Common Equity	25,040	25,093	27,054	31,491	29,784
Minority Interest	9,604	10,768	9,455	126	125
Shareholders' Equity	36,899	38,360	39,008	34,116	33,396
Total Liabilities & Equity	118,751	118,243	125,034	114,348	104,218
Total Debt	61,021	60,016	63,705	58,809	53,213
Net Cash (Debt)	-60,440	-58,886	-59,457	-57,581	-52,381
Net Cash Per Share	-58.12	-56.73	-57.73	-57.81	-53.78
Filing Date Shares Outstanding	1,000	1,000	1,037	1,000	981
Total Common Shares Outstanding	1,041	1,039	1,037	1,018	981
Working Capital	-3,643	-4,778	-445	-9,575	-5,618
Book Value Per Share	24.06	24.15	26.08	30.93	30.36
Tangible Book Value	12,024	11,423	14,522	18,648	17,202
Tangible Book Value Per Share	11.55	10.99	14.00	18.32	17.54
Machinery	-	-	-	1,064	1,020
Construction In Progress	3,993	10,998	7,692	6,314	6,948

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