Notes to the Consolidated Financial Statements
13. Trade and Other Payables (millions)
2025
2024
$
111 $
Trade payables Interest payable Other payables
68 22 53
21 60
$
192 $
143
14. Unearned Customer Capital Contributions and Government Grants Contract liabilities Contract liabilities are performance obligations the Corporation has not yet performed but has already received consideration from customers. (millions) 2025 2024 Balance, beginning of year $ 22 $ 12 Additions 75 37 Refunds (1) - Revenue (37) (27) Balance, end of year $ 59 $ 22 Refund liabilities, which are included within contract liabilities, relate to performance obligations the Corporation has not yet performed, has already received consideration from customers, and expects to refund the consideration to the customer based on actual flow of natural gas exceeding the estimated flows determined at contract inception. Deferred revenue Unearned government grants represent amounts received to compensate the Corporation for the cost of certain items of property, plant and equipment. There are no unfulfilled conditions or other contingencies attached to these government grants. The balance at March 31, 2025 was $5 million (2024 - $4 million). 15. Lease Liability Leases are recognized as right-of-use assets and corresponding liabilities at the date at which a leased asset is available for use. Payments for short-term leases and leases of low-value assets are expensed on a straight-line basis and excluded from the lease liability. (millions) 2025 2024 Total future minimum lease payments $ 14 $ 14 Less: Future finance charges on leases (1) (1) Present value of lease liability 13 13 Less: Current portion of lease liability (5) (5) $ 8 $ 8
(millions)
2025
2024
$
13 $
Lease liabilities, beginning of year
10
5
Net additions
8
(5)
Principal repayment of lease liability
(5)
$
13 $
Lease liabilities, end of year
13
79
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