XML 80 R60.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Employee Future Benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Retirement Benefits [Abstract] |
Schedule of Allocation of Plan Assets |
Allocation of Plan Assets | 2024 Target Allocation |  |  |  |
(weighted average %) |  | 2024 |  |  | 2023 |
Equities | 46 |  |  | 47 |  |  | 46 |
Fixed income | 46 |  |  | 45 |  |  | 45 |
Real estate | 7 |  |  | 7 |  |  | 8 |
Cash and other | 1 |  |  | 1 |  |  | 1 |
| 100 |  |  | 100 |  |  | 100 |
Fair Value of Plan Assets
($ millions) | Level 1 (1) |  | Level 2 (1) |  | Level 3 (1) |  | Total
2024 |  |  |  |  |  |  |
Equities | 773 |  |  | 1,168 |  |  | — |  |  | 1,941 |
Fixed income | 268 |  |  | 1,561 |  |  | — |  |  | 1,829 |
Real estate | — |  |  | — |  |  | 300 |  |  | 300 |
Cash and other | 23 |  |  | 26 |  |  | — |  |  | 49 |
| 1,064 |  |  | 2,755 |  |  | 300 |  |  | 4,119 |
2023 |  |  |  |  |  |  |
Equities | 666 |  |  | 1,059 |  |  | — |  |  | 1,725 |
Fixed income | 232 |  |  | 1,447 |  |  | — |  |  | 1,679 |
Real estate | — |  |  | — |  |  | 291 |  |  | 291 |
Cash and other | 34 |  |  | 14 |  |  | — |  |  | 48 |
| 932 |  |  | 2,520 |  |  | 291 |  |  | 3,743 |
(1) See Note 26 for a description of the fair value hierarchy.
Schedule of Level 3 Changes in Plan Assets | The following table reconciles the changes in the fair value of plan assets that have been measured using Level 3 inputs.
($ millions) | 2024 |  |  | 2023 |
Balance, beginning of year | 291 |  |  | 282 |
Return on plan assets | 5 |  |  | (9) |
Foreign currency translation | 3 |  |  | (1) |
Purchases, sales and settlements | 1 |  |  | 19 |
Balance, end of year | 300 |  |  | 291 |
Schedule of Amounts Recognized in Balance Sheet |
Funded Status | DBP Plans |  | OPEB Plans
($ millions) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Change in benefit obligation (1) |  |  |  |  |  |  |
Balance, beginning of year | 3,347 |  |  | 3,063 |  |  | 596 |  |  | 582 |
Service costs | 74 |  |  | 62 |  |  | 25 |  |  | 22 |
Employee contributions | 17 |  |  | 17 |  |  | 4 |  |  | 3 |
Interest costs | 161 |  |  | 159 |  |  | 29 |  |  | 30 |
Benefits paid | (181) |  |  | (169) |  |  | (35) |  |  | (31) |
Actuarial (gains) losses | (115) |  |  | 255 |  |  | (49) |  |  | (1) |
Past service credits/plan amendments | (3) |  |  | — |  |  | — |  |  | — |
Foreign currency translation | 140 |  |  | (40) |  |  | 33 |  |  | (9) |
Balance, end of year (2) | 3,440 |  |  | 3,347 |  |  | 603 |  |  | 596 |
Change in value of plan assets |  |  |  |  |  |  |
Balance, beginning of year | 3,313 |  |  | 3,079 |  |  | 430 |  |  | 389 |
Actual return on plan assets | 249 |  |  | 373 |  |  | 50 |  |  | 61 |
Benefits paid | (174) |  |  | (162) |  |  | (31) |  |  | (26) |
Employee contributions | 17 |  |  | 17 |  |  | 4 |  |  | 3 |
Employer contributions | 57 |  |  | 46 |  |  | 14 |  |  | 13 |
Foreign currency translation | 151 |  |  | (40) |  |  | 39 |  |  | (10) |
Balance, end of year | 3,613 |  |  | 3,313 |  |  | 506 |  |  | 430 |
Funded status | 173 |  |  | (34) |  |  | (97) |  |  | (166) |
Balance sheet presentation |  |  |  |  |  |  |
Other assets (Note 9) | 395 |  |  | 236 |  |  | 156 |  |  | 119 |
Other current liabilities (Note 13) | (16) |  |  | (15) |  |  | (13) |  |  | (13) |
Other liabilities (Note 16) | (206) |  |  | (255) |  |  | (240) |  |  | (272) |
| 173 |  |  | (34) |  |  | (97) |  |  | (166) |
(1)Amounts reflect projected benefit obligation for DBP plans and accumulated benefit obligation for OPEB plans. (2)The accumulated benefit obligation, which excludes assumptions about future salary levels, for DBP plans was $3,144 million as at December 31, 2024 (2023 - $2,983 million).
Schedule of Funded Status |
Funded Status | DBP Plans |  | OPEB Plans
($ millions) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Change in benefit obligation (1) |  |  |  |  |  |  |
Balance, beginning of year | 3,347 |  |  | 3,063 |  |  | 596 |  |  | 582 |
Service costs | 74 |  |  | 62 |  |  | 25 |  |  | 22 |
Employee contributions | 17 |  |  | 17 |  |  | 4 |  |  | 3 |
Interest costs | 161 |  |  | 159 |  |  | 29 |  |  | 30 |
Benefits paid | (181) |  |  | (169) |  |  | (35) |  |  | (31) |
Actuarial (gains) losses | (115) |  |  | 255 |  |  | (49) |  |  | (1) |
Past service credits/plan amendments | (3) |  |  | — |  |  | — |  |  | — |
Foreign currency translation | 140 |  |  | (40) |  |  | 33 |  |  | (9) |
Balance, end of year (2) | 3,440 |  |  | 3,347 |  |  | 603 |  |  | 596 |
Change in value of plan assets |  |  |  |  |  |  |
Balance, beginning of year | 3,313 |  |  | 3,079 |  |  | 430 |  |  | 389 |
Actual return on plan assets | 249 |  |  | 373 |  |  | 50 |  |  | 61 |
Benefits paid | (174) |  |  | (162) |  |  | (31) |  |  | (26) |
Employee contributions | 17 |  |  | 17 |  |  | 4 |  |  | 3 |
Employer contributions | 57 |  |  | 46 |  |  | 14 |  |  | 13 |
Foreign currency translation | 151 |  |  | (40) |  |  | 39 |  |  | (10) |
Balance, end of year | 3,613 |  |  | 3,313 |  |  | 506 |  |  | 430 |
Funded status | 173 |  |  | (34) |  |  | (97) |  |  | (166) |
Balance sheet presentation |  |  |  |  |  |  |
Other assets (Note 9) | 395 |  |  | 236 |  |  | 156 |  |  | 119 |
Other current liabilities (Note 13) | (16) |  |  | (15) |  |  | (13) |  |  | (13) |
Other liabilities (Note 16) | (206) |  |  | (255) |  |  | (240) |  |  | (272) |
| 173 |  |  | (34) |  |  | (97) |  |  | (166) |
(1)Amounts reflect projected benefit obligation for DBP plans and accumulated benefit obligation for OPEB plans. (2)The accumulated benefit obligation, which excludes assumptions about future salary levels, for DBP plans was $3,144 million as at December 31, 2024 (2023 - $2,983 million).
Schedule of Net Benefit Costs |
Net Benefit Cost (1) | DBP Plans |  | OPEB Plans
($ millions) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Service costs | 74 |  |  | 62 |  |  | 25 |  |  | 22 |
Interest costs | 161 |  |  | 159 |  |  | 29 |  |  | 30 |
Expected return on plan assets | (221) |  |  | (202) |  |  | (26) |  |  | (22) |
Amortization of actuarial gains | (1) |  |  | (9) |  |  | (17) |  |  | (19) |
Amortization of past service credits/plan amendments | (1) |  |  | (1) |  |  | (1) |  |  | (1) |
Regulatory adjustments | (1) |  |  | 12 |  |  | 2 |  |  | 5 |
| 11 |  |  | 21 |  |  | 12 |  |  | 15 |
(1) The non-service benefit cost components of net periodic benefit cost are included in other income, net in the consolidated statements of earnings.
Schedule of Amounts Recognized in AOCI and Net Regulatory Assets | The following table summarizes the accumulated amounts of net benefit cost that have not yet been recognized in earnings or comprehensive income and shows their classification on the consolidated balance sheets.
| DBP Plans |  | OPEB Plans
($ millions) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Unamortized net actuarial losses (gains) | 11 |  |  | 12 |  |  | (11) |  |  | (10) |
Unamortized past service costs | 1 |  |  | 1 |  |  | 6 |  |  | 6 |
Income tax (recovery) expense | (3) |  |  | (3) |  |  | 1 |  |  | 1 |
Accumulated other comprehensive income | 9 |  |  | 10 |  |  | (4) |  |  | (3) |
Net actuarial losses (gains) | 46 |  |  | 189 |  |  | (283) |  |  | (215) |
Past service credits | (1) |  |  | (2) |  |  | (2) |  |  | (3) |
Other regulatory deferrals | 12 |  |  | (11) |  |  | 4 |  |  | 2 |
| 57 |  |  | 176 |  |  | (281) |  |  | (216) |
Regulatory assets (Note 8) | 235 |  |  | 254 |  |  | — |  |  | — |
Regulatory liabilities (Note 8) | (178) |  |  | (78) |  |  | (281) |  |  | (216) |
Net regulatory assets (liabilities) | 57 |  |  | 176 |  |  | (281) |  |  | (216) |
Schedule of Amounts Recognized in OCI and Regulatory Assets | The following table summarizes the components of net benefit cost recognized in comprehensive income or as regulatory (liabilities) assets.
| DBP Plans |  | OPEB Plans
($ millions) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Current year net actuarial (gains) losses | (1) |  |  | 4 |  |  | (1) |  |  | 1 |
Past service credits/plan amendments | — |  |  | — |  |  | — |  |  | (1) |
Foreign currency translation | — |  |  | (1) |  |  | — |  |  | — |
Income tax recovery | — |  |  | (1) |  |  | — |  |  | — |
Total recognized in comprehensive income | (1) |  |  | 2 |  |  | (1) |  |  | — |
Current year net actuarial (gains) losses | (142) |  |  | 78 |  |  | (72) |  |  | (40) |
Amortization of actuarial gains | 1 |  |  | 9 |  |  | 16 |  |  | 18 |
Amortization of past service credits | 1 |  |  | 2 |  |  | 1 |  |  | 1 |
Foreign currency translation | (2) |  |  | (1) |  |  | (12) |  |  | 2 |
Regulatory adjustments | 23 |  |  | (5) |  |  | 2 |  |  | (5) |
Total recognized in regulatory (liabilities) assets | (119) |  |  | 83 |  |  | (65) |  |  | (24) |
Schedule of Assumptions Used |
Significant Assumptions | DBP Plans |  | OPEB Plans
(weighted average %) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Discount rate as at December 31 (1) | 5.25 |  |  | 4.84 |  |  | 5.43 |  |  | 4.94 |
Expected long-term rate of return on plan assets (2) | 6.51 |  |  | 6.58 |  |  | 6.05 |  |  | 5.92 |
Rate of compensation increase | 3.52 |  |  | 3.37 |  |  | — |  |  | — |
Health care cost trend increase as at December 31 (3) | — |  |  | — |  |  | 4.53 |  |  | 4.52 |
(1)The discount rate used during the year was 4.84% for DBP plans (2023 - 5.36%) and 4.96% for OPEB plans (2023 - 5.39%). ITC and UNS Energy use the split discount rate methodology for determining current service and interest costs. All other subsidiaries use the single discount rate approach. (2)Developed by management using best estimates of expected returns, volatilities and correlations for each class of asset. Best estimates are based on historical performance, future expectations and periodic portfolio rebalancing among the diversified asset classes. (3)The projected 2025 health care cost trend rate is 6.51% and is assumed to decrease over the next 10 years to the ultimate health care cost trend rate of 4.53% in 2034 and thereafter
Schedule of Expected Benefit Payments |
Expected Benefit Payments |  |  |
($ millions) | DBP Plans |  | OPEB Plans
2025 | $ | 196 |  |  | $ | 33 |
2026 | 201 |  |  | 34 |
2027 | 206 |  |  | 34 |
2028 | 210 |  |  | 35 |
2029 | 218 |  |  | 36 |
2030-2034 | 1,155 |  |  | 203 |

X
- Definition Schedule of Amounts Recognized in Accumulated Other Comprehensive Income and Net Regulatory Assets [Table Text Block] + References No definition available. + Details
Name: | fts_ScheduleofAmountsRecognizedinAccumulatedOtherComprehensiveIncomeandNetRegulatoryAssetsTableTextBlock
Namespace Prefix: | fts_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Amounts Recognized in Other Comprehensive Income (Loss) and Regulatory Assets [Table Text Block] + References No definition available. + Details
Name: | fts_ScheduleofAmountsRecognizedinOtherComprehensiveIncomeLossandRegulatoryAssetsTableTextBlock
Namespace Prefix: | fts_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (a)(b)(c) -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(02) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration