South Bow Corporation

Financial Statements (IFRS) · Amounts in CAD

5 10 All

Annual Quarterly

Income Statement

Balance Sheet

Cash Flow

Line Item	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023
Total Revenue	2.1B	2.0B
Operating Revenue	2.1B	2.0B
Cost Of Revenue	622.0M	595.0M
Gross Profit	1.5B	1.4B
Depreciation And Amortization In Income Statement	246.0M	244.0M
Other Operating Expenses	753.0M	710.0M
Operating Expense	753.0M	710.0M
Operating Income	745.0M	700.0M
EBIT	806.0M	782.0M
Interest Expense	388.0M	220.0M
Interest Expense Non Operating	388.0M	220.0M
Interest Income	12.0M	32.0M
Interest Income Non Operating	12.0M	32.0M
Net Interest Income	-376.0M	-188.0M
Other Income Expense	49.0M	50.0M
Earnings From Equity Interest	49.0M	50.0M
Pretax Income	418.0M	562.0M
Tax Provision	102.0M	120.0M
Tax Effect Of Unusual Items	0.00	0.00
Net Income From Continuing And Discontinued Operation	316.0M	442.0M
Net Income From Continuing Operation Net Minority Interest	316.0M	442.0M
Net Income Including Noncontrolling Interests	316.0M	442.0M
Net Income Common Stockholders	316.0M	442.0M
Net Income	316.0M	442.0M
EBITDA	1.1B	1.0B
Normalized EBITDA	1.1B	1.0B
Reconciled Depreciation	246.0M	244.0M
Basic EPS	1.52	2.13
Diluted EPS	1.52	2.13
Basic Average Shares	207.6M	207.6M
Diluted Average Shares	208.2M	207.6M
Tax Rate For Calcs	0.24	0.21
Normalized Income	316.0M	442.0M
Depreciation Amortization Depletion Income Statement	246.0M	244.0M
Diluted NI Availto Com Stockholders	316.0M	442.0M
Net Income Continuous Operations	316.0M	442.0M
Net Non Operating Interest Income Expense	-376.0M	-188.0M
Reconciled Cost Of Revenue	622.0M	595.0M
Total Expenses	1.4B	1.3B

Line Item	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023
Cash And Cash Equivalents	397.0M	262.0M
Cash Cash Equivalents And Short Term Investments	397.0M	262.0M
Accounts Receivable	1.2B	1.3B
Receivables	1.3B	1.4B
Inventory	207.0M	160.0M
Prepaid Assets	28.0M	3.0M
Other Current Assets	59.0M	141.0M
Current Assets	2.2B	2.6B
Gross PPE	11.0B	11.1B
Accumulated Depreciation	-2.8B	-2.6B
Net PPE	8.2B	8.4B
Investments And Advances	732.0M	813.0M
Long Term Equity Investment	732.0M	813.0M
Other Non Current Assets	145.0M	164.0M
Total Non Current Assets	9.1B	9.4B
Total Assets	11.3B	12.0B
Accounts Payable	1.5B	2.1B
Payables	1.6B	2.1B
Payables And Accrued Expenses	1.8B	2.1B
Current Accrued Expenses	113.0M	0.00
Current Liabilities	1.8B	2.1B
Long Term Debt	5.7B	6.0B
Long Term Debt And Capital Lease Obligation	5.7B	6.0B
Other Non Current Liabilities	140.0M	110.0M
Total Non Current Liabilities Net Minority Interest	7.0B	7.1B
Total Liabilities Net Minority Interest	8.7B	9.2B
Common Stock	2.2B	3.0B
Capital Stock	2.2B	3.0B
Additional Paid In Capital	661.0M	0.00
Retained Earnings	-49.0M	0.00
Gains Losses Not Affecting Retained Earnings	-198.0M	-128.0M
Other Equity Adjustments	-198.0M	-128.0M
Common Stock Equity	2.6B	2.8B
Stockholders Equity	2.6B	2.8B
Total Equity Gross Minority Interest	2.6B	2.8B
Total Capitalization	8.3B	8.8B
Net Tangible Assets	2.6B	2.8B
Tangible Book Value	2.6B	2.8B
Working Capital	437.0M	539.0M
Invested Capital	8.3B	8.8B
Total Debt	5.7B	6.0B
Net Debt	5.3B	5.7B
Share Issued	208.0M	207.6M
Ordinary Shares Number	208.0M	207.6M
Assets Held For Sale Current	0.00	44.0M
Construction In Progress	122.0M	45.0M
Defined Pension Benefit	10.0M	0.00
Dividends Payable	104.0M	0.00
Hedging Assets Current	188.0M	527.0M
Interest Payable	113.0M	0.00
Non Current Accounts Receivable	22.0M	7.0M
Non Current Deferred Assets	16.0M	6.0M
Non Current Deferred Liabilities	1.1B	1.0B
Non Current Deferred Taxes Assets	16.0M	6.0M
Non Current Deferred Taxes Liabilities	1.1B	1.0B
Other Properties	10.9B	11.0B
Other Receivables	63.0M	63.0M
Raw Materials	207.0M	160.0M
Restricted Cash	66.0M	70.0M

Line Item	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023
Operating Cash Flow	529.0M	779.0M
Cash Flow From Continuing Operating Activities	529.0M	779.0M
Depreciation And Amortization	246.0M	244.0M
Depreciation Amortization Depletion	246.0M	244.0M
Deferred Tax	59.0M	67.0M
Deferred Income Tax	59.0M	67.0M
Change In Working Capital	-62.0M	-34.0M
Changes In Account Receivables	101.0M	-251.0M
Change In Receivables	101.0M	-251.0M
Change In Inventory	-50.0M	63.0M
Change In Payables And Accrued Expense	-81.0M	-120.0M
Change In Payable	-81.0M	-120.0M
Change In Other Current Assets	-32.0M	274.0M
Other Non Cash Items	5.0M	13.0M
Capital Expenditure	-122.0M	-37.0M
Investing Cash Flow	-80.0M	62.0M
Cash Flow From Continuing Investing Activities	-80.0M	62.0M
Issuance Of Debt	4.5B	621.0M
Repayment Of Debt	-4.7B	-971.0M
Net Issuance Payments Of Debt	-187.0M	-350.0M
Financing Cash Flow	-307.0M	-577.0M
Cash Flow From Continuing Financing Activities	-307.0M	-577.0M
Effect Of Exchange Rate Changes	-7.0M	-6.0M
Changes In Cash	142.0M	264.0M
Beginning Cash Position	262.0M	4.0M
End Cash Position	397.0M	262.0M
Free Cash Flow	407.0M	742.0M
Income Tax Paid Supplemental Data	49.0M	34.0M
Asset Impairment Charge	7.0M	0.00
Capital Expenditure Reported	-122.0M	-37.0M
Change In Account Payable	-81.0M	-120.0M
Depreciation	246.0M	244.0M
Dividend Received Cfo	70.0M	71.0M
Earnings Losses From Equity Investments	-49.0M	-50.0M
Gain Loss On Investment Securities	-49.0M	-50.0M
Long Term Debt Issuance	4.5B	621.0M
Long Term Debt Payments	-4.7B	-971.0M
Net Foreign Currency Exchange Gain Loss	-69.0M	0.00
Net Income From Continuing Operations	316.0M	442.0M
Net Long Term Debt Issuance	-187.0M	-350.0M
Net Other Financing Charges	-129.0M	-227.0M
Net Other Investing Changes	42.0M	99.0M
Operating Gains Losses	-118.0M	-50.0M
Proceeds From Stock Option Exercised	9.0M	0.00
Unrealized Gain Loss On Investment Securities	6.0M	26.0M