South Bow Corp
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2024 · Filed Mar 6, 2025
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Contents
EX-99.2 · Commitments
Commitments
The Company's commitments as at December 31, 2024 are below:
| U.S.$ millions | Total | 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter |
|---|---|---|---|---|---|---|---|
| Long-term debt principal repayments | 5,756 | — | — | 700 | — | 1,000 | 4,056 |
| Interest payments | 5,165 | 327 | 330 | 316 | 294 | 280 | 3,618 |
| Transportation by other parties 1 | 13 | 10 | 3 | — | — | — | — |
| Capital expenditures 2 | 125 | 120 | 5 | — | — | — | — |
| Other | 3 | 1 | 1 | 1 | — | — | — |
| 11,062 | 458 | 339 | 1,017 | 294 | 1,280 | 7,674 |
Contractual obligations are based on demand volumes and exclude any variable charges incurred when volumes flow.
Capital expenditures primarily relate to expenditures for the Blackrod Connection Project. Amounts are estimates and subject to variability based on timing of construction and project requirements. Expenditures include obligations for growth projects and are presented based on projects proceeding as currently planned. Any changes to projects including timing or possible cancellation could change these estimates.
The Company has long-term crude oil transportation agreements as well as other purchase obligations, all of which are transacted at market prices and in the normal course of business. Purchases under these contracts in 2024 were $49 million (2023 – $47 million).
At December 31, 2024, the Company had capital expenditure commitments totaling approximately $125 million (2023 – $5 million).
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