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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Deferred Income Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities consisted of the following.
($ millions) | 2024 |  |  | 2023 |
Gross deferred income tax assets |  |  |
Regulatory liabilities | 659 |  |  | 636 |
Tax loss and credit carryforwards | 629 |  |  | 600 |
Employee future benefits | 123 |  |  | 136 |
Other | 216 |  |  | 144 |
| 1,627 |  |  | 1,516 |
Valuation allowance | (50) |  |  | (23) |
Net deferred income tax asset | 1,577 |  |  | 1,493 |
Gross deferred income tax liabilities |  |  |
PPE | (5,993) |  |  | (5,355) |
Regulatory assets | (432) |  |  | (372) |
Intangible assets | (172) |  |  | (165) |
| (6,597) |  |  | (5,892) |
Net deferred income tax liability | (5,020) |  |  | (4,399) |
Schedule of Components of Income Tax Expense | Income Tax Expense
($ millions) | 2024 |  |  | 2023 |
Canadian |  |  |
Earnings before income tax expense | 518 |  |  | 526 |
Current income tax | 154 |  |  | 71 |
Deferred income tax | (87) |  |  | 17 |
Total Canadian | 67 |  |  | 88 |
Foreign |  |  |
Earnings before income tax expense | 1,656 |  |  | 1,544 |
Current income tax | 38 |  |  | 17 |
Deferred income tax | 241 |  |  | 255 |
Total Foreign | 279 |  |  | 272 |
Income tax expense | 346 |  |  | 360 |
Schedule of Effective Income Tax Rate Reconciliation | The following is a reconciliation of consolidated statutory taxes to consolidated effective taxes.
($ millions, except as indicated) | 2024 |  |  | 2023 |
Earnings before income tax expense | 2,174 |  |  | 2,070 |
Combined Canadian federal and provincial statutory income tax rate (%) | 30.0 |  |  | 30.0 |
Expected federal and provincial taxes at statutory rate | 652 |  |  | 621 |
(Decrease)/Increase resulting from: |  |  |
Foreign and other statutory rate differentials | (169) |  |  | (166) |
Effects of rate-regulated accounting | (97) |  |  | (98) |
Tax credits | (36) |  |  | (14) |
Enactment of new tax laws, change in tax rate | 2 |  |  | 12 |
Other | (6) |  |  | 5 |
Income tax expense | 346 |  |  | 360 |
Effective tax rate (%) | 15.9 |  |  | 17.4 |
Summary of Operating Loss Carryforwards |
Income Tax Carryforwards(1) |  |  |
($ millions) | Expiring Year |  | 2024 |
Canadian |  |  |
Non-capital loss | 2028-2044 |  | 155 |
Other tax credits and restricted interest and financing expenses(2) | 2026-2044 |  | 77 |
|  |  | 232 |
Foreign |  |  |
Federal and state net operating loss(3) | 2029-2044 |  | 315 |
Other tax credits | 2027-2044 |  | 82 |
|  |  | 397 |
Total income tax carryforwards recognized |  |  | 629 |
(1) Income tax carryforwards presented on an after-tax basis (2) Indefinite carryforward for restricted interest and financing expenses (3) Indefinite carryforward for Federal net operating losses, and for states that have adopted the Federal provisions, effective for tax years beginning after December 31, 2017
Summary of Tax Carryforward Amounts |
Income Tax Carryforwards(1) |  |  |
($ millions) | Expiring Year |  | 2024 |
Canadian |  |  |
Non-capital loss | 2028-2044 |  | 155 |
Other tax credits and restricted interest and financing expenses(2) | 2026-2044 |  | 77 |
|  |  | 232 |
Foreign |  |  |
Federal and state net operating loss(3) | 2029-2044 |  | 315 |
Other tax credits | 2027-2044 |  | 82 |
|  |  | 397 |
Total income tax carryforwards recognized |  |  | 629 |
(1) Income tax carryforwards presented on an after-tax basis (2) Indefinite carryforward for restricted interest and financing expenses (3) Indefinite carryforward for Federal net operating losses, and for states that have adopted the Federal provisions, effective for tax years beginning after December 31, 2017

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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