Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of TC Energy.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.77B | $15.03B | $12.31B | $13.39B | $13.00B | $13.26B | $13.68B | $13.45B | $12.55B | $11.30B |
| Cost of Revenue | $7.17B | $8.18B | $6.51B | $6.71B | $6.47B | $6.74B | $7.43B | $8.34B | $7.97B | $7.30B |
| Gross Profit | $6.61B | $6.85B | $5.80B | $6.68B | $6.53B | $6.51B | $6.25B | $5.11B | $4.58B | $4.00B |
| Gross Profit Ratio | 47.97% | 45.56% | 47.10% | 49.90% | 50.24% | 49.14% | 45.69% | 37.97% | 36.46% | 35.35% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $- | $897.00M | $101.00M | $- | $- | $- | $- | $- | $- | $- |
| Other Expenses | $820.00M | $781.00M | $727.00M | $774.00M | $727.00M | $727.00M | $569.00M | $569.00M | $555.00M | $517.00M |
| Operating Expenses | $820.00M | $897.00M | $848.00M | $774.00M | $727.00M | $727.00M | $569.00M | $569.00M | $555.00M | $517.00M |
| Cost and Expenses | $7.99B | $9.08B | $7.24B | $7.48B | $7.20B | $7.47B | $8.00B | $8.91B | $8.53B | $7.61B |
| Interest Income | $542.00M | $242.00M | $428.00M | $190.00M | $173.00M | $460.00M | $2.09B | $73.00M | $103.00M | $296.00M |
| Interest Expense | $2.52B | $2.58B | $2.22B | $2.09B | $1.88B | $1.86B | $- | $1.50B | $1.46B | $1.37B |
| Depreciation and Amortization | $2.79B | $2.78B | $2.58B | $2.52B | $2.59B | $2.46B | $2.35B | $2.06B | $1.94B | $1.76B |
| EBITDA | $11.22B | $8.66B | $5.48B | $6.39B | $8.87B | $8.97B | $8.03B | $6.86B | $4.28B | $1.62B |
| EBITDA Ratio | 81.45% | 57.61% | 44.49% | 47.73% | 68.26% | 67.64% | 58.71% | 50.98% | 34.10% | 14.37% |
| Operating Income | $5.79B | $6.86B | $5.07B | $5.91B | $5.80B | $5.79B | $5.68B | $4.54B | $4.02B | $3.53B |
| Operating Income Ratio | 42.02% | 45.61% | 41.19% | 44.12% | 44.65% | 43.65% | 41.53% | 33.73% | 32.04% | 31.25% |
| Total Other Income Expenses Net | $120.00M | $-2.85B | $-4.75B | $-3.74B | $-697.00M | $-599.00M | $-1.73B | $-1.23B | $-3.18B | $-4.64B |
| Income Before Tax | $5.91B | $4.01B | $320.00M | $2.17B | $5.11B | $5.19B | $3.95B | $3.31B | $837.00M | $-1.11B |
| Income Before Tax Ratio | 42.89% | 26.68% | 2.60% | 16.18% | 39.29% | 39.13% | 28.87% | 24.58% | 6.67% | -9.79% |
| Income Tax Expense | $922.00M | $942.00M | $589.00M | $120.00M | $194.00M | $754.00M | $432.00M | $-89.00M | $352.00M | $34.00M |
| Net Income | $4.70B | $2.92B | $748.00M | $1.96B | $4.62B | $4.14B | $3.70B | $3.16B | $233.00M | $-1.15B |
| Net Income Ratio | 34.12% | 19.44% | 6.08% | 14.60% | 35.51% | 31.23% | 27.06% | 23.47% | 1.86% | -10.14% |
| EPS | $4.43 | $2.75 | $0.64 | $1.87 | $4.74 | $4.28 | $3.92 | $3.44 | $0.16 | $-1.75 |
| EPS Diluted | $4.43 | $2.75 | $0.64 | $1.86 | $4.74 | $4.27 | $3.92 | $3.43 | $0.16 | $-1.75 |
| Weighted Average Shares Outstanding | 1.04B | 1.03B | 995.00M | 973.00M | 940.00M | 929.00M | 902.00M | 872.00M | 759.00M | 708.57M |
| Weighted Average Shares Outstanding Diluted | 1.04B | 1.03B | 996.00M | 974.00M | 940.00M | 931.00M | 903.00M | 874.00M | 760.00M | 709.00M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $801.00M | $3.68B | $620.00M | $673.00M | $1.53B | $1.34B | $446.00M | $1.09B | $1.02B | $850.00M |
| Short Term Investments | $- | $- | $- | $-16.00M | $-19.00M | $-2.00M | $-59.00M | $- | $- | $- |
| Cash and Short Term Investments | $801.00M | $3.68B | $620.00M | $673.00M | $1.53B | $1.34B | $446.00M | $1.09B | $1.02B | $850.00M |
| Net Receivables | $3.11B | $4.67B | $4.07B | $4.51B | $2.29B | $2.58B | $2.69B | $2.52B | $2.08B | $1.39B |
| Inventory | $747.00M | $982.00M | $936.00M | $724.00M | $629.00M | $452.00M | $431.00M | $378.00M | $368.00M | $323.00M |
| Other Current Assets | $1.08B | $2.04B | $1.71B | $1.51B | $748.00M | $3.28B | $1.56B | $691.00M | $4.62B | $1.36B |
| Total Current Assets | $5.73B | $11.37B | $7.33B | $7.42B | $5.20B | $7.65B | $5.13B | $4.68B | $8.08B | $3.92B |
| Property Plant Equipment Net | $80.14B | $80.57B | $77.83B | $70.18B | $69.78B | $65.49B | $66.50B | $57.28B | $54.48B | $44.82B |
| Goodwill | $13.67B | $12.53B | $12.84B | $12.58B | $12.68B | $12.89B | $14.18B | $13.08B | $13.96B | $4.81B |
| Intangible Assets | $- | $- | $- | $- | $- | $1.72B | $1.05B | $596.00M | $2.09B | $2.03B |
| Goodwill and Intangible Assets | $13.67B | $12.53B | $12.84B | $12.58B | $12.68B | $14.60B | $15.23B | $13.68B | $16.05B | $6.85B |
| Long Term Investments | $10.64B | $15.82B | $9.54B | $8.46B | $6.70B | $6.51B | $7.17B | $6.37B | $6.54B | $6.21B |
| Tax Assets | $428.00M | $1.32B | $1.07B | $509.00M | $177.00M | $37.00M | $322.00M | $316.00M | $392.00M | $15.00M |
| Other Non-Current Assets | $7.63B | $3.42B | $5.73B | $5.07B | $5.77B | $4.99B | $4.56B | $3.78B | $2.50B | $2.68B |
| Total Non-Current Assets | $112.51B | $113.66B | $107.02B | $96.80B | $95.10B | $91.63B | $93.78B | $81.42B | $79.97B | $60.57B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-4.00M |
| Total Assets | $118.24B | $125.03B | $114.35B | $104.22B | $100.30B | $99.28B | $98.92B | $86.10B | $88.05B | $64.48B |
| Account Payables | $3.70B | $3.09B | $4.33B | $4.18B | $3.06B | $3.31B | $3.22B | $2.85B | $2.44B | $1.51B |
| Short Term Debt | $3.40B | $3.00B | $8.16B | $6.49B | $6.15B | $7.00B | $6.22B | $4.63B | $2.61B | $3.77B |
| Tax Payables | $143.00M | $76.00M | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $30.00M | $47.00M | $62.00M | $90.00M | $129.00M | $61.00M | $- | $- | $- | $- |
| Other Current Liabilities | $3.24B | $5.61B | $4.36B | $2.28B | $2.65B | $2.52B | $3.50B | $2.40B | $2.62B | $2.09B |
| Total Current Liabilities | $10.51B | $11.82B | $16.91B | $13.04B | $11.99B | $12.90B | $12.95B | $9.88B | $7.68B | $7.36B |
| Long Term Debt | $56.48B | $60.66B | $50.52B | $46.66B | $43.84B | $43.37B | $44.02B | $38.88B | $42.24B | $31.32B |
| Deferred Revenue Non-Current | $- | $12.00M | $32.00M | $184.00M | $203.00M | $226.00M | $- | $- | $1.18B | $- |
| Deferred Tax Liabilities Non-Current | $6.88B | $8.12B | $7.65B | $6.14B | $5.81B | $5.70B | $6.03B | $5.40B | $7.66B | $5.14B |
| Other Non-Current Liabilities | $6.01B | $5.41B | $5.13B | $4.79B | $4.99B | $4.68B | $4.94B | $5.05B | $3.30B | $2.56B |
| Total Non-Current Liabilities | $69.37B | $74.21B | $63.33B | $57.78B | $54.84B | $53.98B | $54.98B | $49.33B | $54.39B | $39.02B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-141.00M |
| Total Liabilities | $79.88B | $86.03B | $80.23B | $70.82B | $66.83B | $66.88B | $67.93B | $59.21B | $62.07B | $46.24B |
| Preferred Stock | $2.50B | $2.50B | $2.50B | $3.49B | $3.98B | $3.98B | $3.98B | $3.98B | $3.98B | $2.50B |
| Common Stock | $30.10B | $30.00B | $29.00B | $26.72B | $24.49B | $24.39B | $23.17B | $21.17B | $20.10B | $12.10B |
| Retained Earnings | $-5.24B | $-3.00B | $819.00M | $3.77B | $5.37B | $3.96B | $2.77B | $1.62B | $1.14B | $2.77B |
| Accumulated Other Comprehensive Income Loss | $233.00M | $49.00M | $955.00M | $-1.43B | $-2.44B | $-1.56B | $-606.00M | $-1.73B | $-960.00M | $-939.00M |
| Other Total Stockholders Equity | $- | $- | $722.00M | $729.00M | $2.00M | $- | $17.00M | $- | $- | $7.00M |
| Total Stockholders Equity | $27.59B | $29.55B | $33.99B | $33.27B | $31.40B | $30.76B | $29.34B | $25.04B | $24.26B | $16.44B |
| Total Equity | $38.36B | $39.01B | $34.12B | $33.40B | $33.47B | $32.40B | $30.99B | $26.89B | $25.98B | $18.16B |
| Total Liabilities and Stockholders Equity | $118.24B | $125.03B | $114.35B | $104.22B | $100.30B | $99.28B | $98.92B | $86.10B | $88.05B | $64.48B |
| Minority Interest | $10.77B | $9.46B | $126.00M | $125.00M | $2.08B | $1.63B | $1.66B | $1.85B | $1.73B | $1.72B |
| Total Liabilities and Total Equity | $118.24B | $125.03B | $114.35B | $104.22B | $100.30B | $99.28B | $98.92B | $86.10B | $88.05B | $64.48B |
| Total Investments | $10.64B | $15.82B | $9.54B | $8.44B | $6.68B | $6.51B | $7.11B | $6.37B | $6.54B | $6.21B |
| Total Debt | $59.88B | $63.66B | $58.68B | $53.15B | $49.99B | $50.38B | $50.24B | $43.51B | $44.85B | $35.08B |
| Net Debt | $59.08B | $59.98B | $58.06B | $52.47B | $48.46B | $49.03B | $49.80B | $42.42B | $43.84B | $34.23B |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $5.38B | $2.92B | $785.00M | $2.05B | $4.91B | $4.43B | $3.52B | $3.40B | $485.00M | $-1.14B |
| Depreciation and Amortization | $2.79B | $2.78B | $2.58B | $2.52B | $2.59B | $2.46B | $2.35B | $2.06B | $1.94B | $1.76B |
| Deferred Income Tax | $493.00M | $11.00M | $174.00M | $-185.00M | $-58.00M | $55.00M | $117.00M | $-238.00M | $196.00M | $-102.00M |
| Stock Based Compensation | $- | $9.00M | $10.00M | $12.00M | $12.00M | $13.00M | $- | $12.00M | $15.00M | $13.00M |
| Change in Working Capital | $199.00M | $207.00M | $-639.00M | $-287.00M | $-327.00M | $293.00M | $-102.00M | $-273.00M | $248.00M | $-249.00M |
| Accounts Receivables | $-13.00M | $-394.00M | $-575.00M | $-925.00M | $129.00M | $31.00M | $-69.00M | $-576.00M | $-482.00M | $-66.00M |
| Inventory | $-16.00M | $-56.00M | $-190.00M | $-93.00M | $-55.00M | $-42.00M | $-49.00M | $-38.00M | $-87.00M | $-3.00M |
| Accounts Payables | $365.00M | $-206.00M | $-83.00M | $890.00M | $-162.00M | $352.00M | $-70.00M | $151.00M | $424.00M | $-153.00M |
| Other Working Capital | $-137.00M | $863.00M | $209.00M | $-159.00M | $-239.00M | $-48.00M | $86.00M | $190.00M | $393.00M | $-27.00M |
| Other Non Cash Items | $-1.16B | $1.34B | $3.46B | $2.78B | $-72.00M | $-176.00M | $673.00M | $279.00M | $2.19B | $4.10B |
| Net Cash Provided by Operating Activities | $7.70B | $7.27B | $6.38B | $6.89B | $7.06B | $7.08B | $6.55B | $5.23B | $5.07B | $4.38B |
| Investments in Property Plant and Equipment | $-6.36B | $-8.15B | $-6.73B | $-5.92B | $-8.13B | $-8.18B | $-9.91B | $-7.53B | $-5.30B | $-4.43B |
| Acquisitions Net | $-4.68B | $-307.00M | $-3.43B | $-1.21B | $-765.00M | $-975.00M | $-1.01B | $-1.68B | $-14.37B | $-729.00M |
| Purchases of Investments | $- | $- | $- | $-1.21B | $-765.00M | $-602.00M | $-1.01B | $-1.68B | $-765.00M | $-493.00M |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $4.13B | $-3.83B | $3.15B | $632.00M | $3.61B | $2.89B | $1.93B | $7.19B | $1.66B | $772.00M |
| Net Cash Used for Investing Activities | $-6.91B | $-12.29B | $-7.01B | $-7.71B | $-6.05B | $-6.87B | $-10.02B | $-3.70B | $-18.78B | $-4.88B |
| Debt Repayment | $378.00M | $5.81B | $2.94B | $4.47B | $1.57B | $2.61B | $3.50B | $1.06B | $6.40B | $2.48B |
| Common Stock Issued | $88.00M | $4.00M | $1.91B | $148.00M | $91.00M | $253.00M | $1.15B | $274.00M | $7.75B | $27.00M |
| Common Stock Repurchased | $- | $- | $-1.00B | $-500.00M | $- | $- | $- | $-1.21B | $-14.00M | $-294.00M |
| Dividends Paid | $-4.05B | $-2.88B | $-3.30B | $-3.46B | $-3.15B | $-1.96B | $-1.73B | $-1.49B | $-1.54B | $-1.54B |
| Other Financing Activities | $-288.00M | $5.16B | $-1.06B | $-1.25B | $682.00M | $-216.00M | $-176.00M | $-58.00M | $1.41B | $74.00M |
| Net Cash Used Provided by Financing Activities | $-3.87B | $8.09B | $487.00M | $-88.00M | $-800.00M | $693.00M | $2.75B | $-1.42B | $14.01B | $744.00M |
| Effect of Forex Changes on Cash | $210.00M | $-16.00M | $94.00M | $53.00M | $-19.00M | $-6.00M | $73.00M | $-39.00M | $-127.00M | $112.00M |
| Net Change in Cash | $-2.88B | $3.06B | $-53.00M | $-857.00M | $187.00M | $897.00M | $-643.00M | $73.00M | $166.00M | $361.00M |
| Cash at End of Period | $801.00M | $3.68B | $620.00M | $673.00M | $1.53B | $1.34B | $446.00M | $1.09B | $1.02B | $850.00M |
| Cash at Beginning of Period | $3.68B | $620.00M | $673.00M | $1.53B | $1.34B | $446.00M | $1.09B | $1.02B | $850.00M | $489.00M |
| Operating Cash Flow | $7.70B | $7.27B | $6.38B | $6.89B | $7.06B | $7.08B | $6.55B | $5.23B | $5.07B | $4.38B |
| Capital Expenditure | $-6.36B | $-8.15B | $-6.73B | $-5.92B | $-8.13B | $-8.18B | $-9.91B | $-7.53B | $-5.30B | $-4.43B |
| Free Cash Flow | $1.34B | $-881.00M | $-352.00M | $966.00M | $-1.08B | $-1.10B | $-3.36B | $-2.30B | $-233.00M | $-45.00M |