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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Operating and Finance Leases Balance Sheet Location | Leases were presented on the consolidated balance sheets as follows.
($ millions) | 2024 |  | 2023 |
Operating leases |  |  |
Other assets | 64 |  |  | 51 |
Accounts payable and other current liabilities | (17) |  |  | (12) |
Other liabilities | (47) |  |  | (39) |
Finance leases (1) |  |  |
Regulatory assets | 142 |  |  | 137 |
PPE, net | 205 |  |  | 205 |
Accounts payable and other current liabilities | (4) |  |  | (3) |
Finance leases | (343) |  |  | (339) |
(1) FortisBC Electric has a finance lease for the BPPA (Note 8), which relates to the sale of the output of the Brilliant hydroelectric plant, and for the Brilliant Terminal Station ("BTS"), which relates to the use of the station. Both agreements expire in 2056. In exchange for the specified take-or-pay amounts of power, the BPPA requires semi-annual payments based on a return on capital, which includes the original and ongoing capital cost, and related variable power purchase costs. The BTS requires semi-annual payments based on a charge related to the recovery of the capital cost of the BTS, and related variable operating costs.
Components of Lease Expense and Supplemental Lease Information | The components of lease expense were as follows.
($ millions) | 2024 |  | 2023 |
Operating lease cost | 19 |  |  | 12 |
Finance lease cost: |  |  |
Amortization | 2 |  |  | 3 |
Interest | 33 |  |  | 33 |
Variable lease cost | 21 |  |  | 23 |
Total lease cost | 75 |  |  | 71 |
Supplemental lease information follows. |  |  |
($ millions, except as indicated) | 2024 |  |  | 2023 |
Weighted average remaining lease term (years) |  |  |
Operating leases | 7 |  | 7
Finance leases | 31 |  | 32
Weighted average discount rate (%) |  |  |
Operating leases | 4.6 |  |  | 4.5 |
Finance leases | 5.0 |  |  | 5.0 |
Present Value of Minimum Finance Lease Payments | As at December 31, 2024, the present value of minimum lease payments was as follows.
($ millions) | Operating Leases | Finance Leases | Total
2025 | 18 |  | 37 |  | 55 |
2026 | 15 |  | 37 |  | 52 |
2027 | 12 |  | 37 |  | 49 |
2028 | 6 |  | 37 |  | 43 |
2029 | 4 |  | 37 |  | 41 |
Thereafter | 19 |  | 954 |  | 973 |
| 74 |  | 1,139 |  | 1,213 |
Less: Imputed interest | (10) |  | (792) |  | (802) |
Total lease obligations | 64 |  | 347 |  | 411 |
Less: Current installments | (17) |  | (4) |  | (21) |
| 47 |  | 343 |  | 390 |
Present Value of Minimum Operating Lease Payments | As at December 31, 2024, the present value of minimum lease payments was as follows.
($ millions) | Operating Leases | Finance Leases | Total
2025 | 18 |  | 37 |  | 55 |
2026 | 15 |  | 37 |  | 52 |
2027 | 12 |  | 37 |  | 49 |
2028 | 6 |  | 37 |  | 43 |
2029 | 4 |  | 37 |  | 41 |
Thereafter | 19 |  | 954 |  | 973 |
| 74 |  | 1,139 |  | 1,213 |
Less: Imputed interest | (10) |  | (792) |  | (802) |
Total lease obligations | 64 |  | 347 |  | 411 |
Less: Current installments | (17) |  | (4) |  | (21) |
| 47 |  | 343 |  | 390 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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