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CORPORATE RESTRUCTURING COSTS

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

CORPORATE RESTRUCTURING COSTS

CORPORATE RESTRUCTURING COSTS

In mid-2015, the Company commenced a business restructuring and transformation initiative to reduce overall costs and maximize the effectiveness and efficiency of its existing operations. The Company incurred corporate restructuring costs and recorded a provision to allow for planned severance costs in future years, as well as expected future losses under lease commitments.

Cumulatively to December 31, 2019, the Company has incurred costs of $86 million for employee severance and $61 million for lease commitments, net of $158 million related to costs that were recoverable through regulatory and tolling structures. The remaining lease commitments provision at December 31, 2019 is expected to be fully realized by 2027.

Changes in the restructuring liability were as follows:

(millions of Canadian $)		Employee Severance			Lease Commitments			Total
Restructuring liability as at December 31, 2017		9			53			62
Restructuring charges1		—			42			42
Accretion expense		—			1			1
Cash payments		(9	)		(15	)		(24	)
Restructuring liability as at December 31, 2018		—			81			81
Accretion expense		—			2			2
Cash payments		—			(14	)		(14	)
Restructuring liability as at December 31, 2019		—			69			69

1

At December 31, 2018, the Company recorded an additional $21 million in Plant operating costs and other in the Consolidated statement of income and $21 million as a regulatory asset on the Consolidated balance sheet related to costs that are recoverable through regulatory and tolling structures in future periods.

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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