# South Bow Corp: Form 40-F for the period ended Dec 31, 2025

- Company: [South Bow Corp](/companies/sobo.md) (CIK 2019061)
- Form: 40-F
- Filed: 2026-03-16
- Accepted by EDGAR: Mar 13, 2026, 22:48 ET
- Period: 2025-12-31
- Accession: 0002019061-26-000006
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/2019061/000201906126000006/sobo-20251231_d2.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/2019061/000201906126000006/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 12 months, 2025-01-01 to 2025-12-31 | $1.99bn | us-gaap:Revenues |
| Cost of revenue | 12 months, 2025-01-01 to 2025-12-31 | $313.0m | us-gaap:CostOfGoodsAndServicesSold |
| Interest expense | 12 months, 2025-01-01 to 2025-12-31 | $331.0m | us-gaap:InterestExpenseNonoperating |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | $64.0m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | $433.0m | us-gaap:ProfitLoss |
| Diluted EPS | 12 months, 2025-01-01 to 2025-12-31 | $2.07 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 12 months, 2025-01-01 to 2025-12-31 | $2.08 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 12 months, 2025-01-01 to 2025-12-31 | 208,800,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | $717.0m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Dividends paid | 12 months, 2025-01-01 to 2025-12-31 | $416.0m | us-gaap:PaymentsOfDividends |
| Cash and equivalents | at 2025-12-31 | $549.0m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-12-31 | $2.02bn | us-gaap:AssetsCurrent |
| Total assets | at 2025-12-31 | $11.19bn | us-gaap:Assets |
| Current liabilities | at 2025-12-31 | $1.34bn | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-12-31 | $8.48bn | us-gaap:Liabilities |
| Shareholders' equity | at 2025-12-31 | $2.71bn | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
| Shares outstanding | at 2025-12-31 | 208,250,512 shares | dei:EntityCommonStockSharesOutstanding |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/2019061/000201906126000006/sobo-20251231_d2.htm

Filed Mar 16, 2026.
Source: SEC EDGAR, the filing index for accession 0002019061-26-000006. Last ingested by Listed: Oct 24, 2026, 15:16 ET. No prices; not investment advice.