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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

($ millions)						Maturity Date						2024						2023
ITC
Secured U.S. First Mortgage Bonds -
			4.34% weighted average fixed rate (2023 - 4.22%)			2027-2055						3,944						3,268
Secured U.S. Senior Notes -
			4.16% weighted average fixed rate (2023 - 4.00%)			2028-2055						1,511						1,278
Unsecured U.S. Senior Notes -
			4.37% weighted average fixed rate (2023 - 4.16%)			2026-2043						5,610						5,165
Unsecured U.S. Shareholder Note -
			6.00% fixed rate (2023 - 6.00%)			2028						286						263
UNS Energy
Unsecured U.S. Fixed Rate Notes -
			4.09% weighted average fixed rate (2023 - 3.80%)			2026-2053						4,172						3,668
Central Hudson
Unsecured U.S. Promissory Notes - 4.38% weighted
			average fixed and variable rate (2023 - 4.27%)			2025-2060						1,974						1,687
FortisBC Energy
Unsecured Debentures -
			4.61% weighted average fixed rate (2023 - 4.61%)			2026-2052						3,295						3,295
FortisAlberta
Unsecured Debentures -
			4.63% weighted average fixed rate (2023 - 4.52%)			2034-2054						2,835						2,685
FortisBC Electric
Unsecured Debentures -
			4.72% weighted average fixed rate (2023 - 4.70%)			2035-2054						960						860
Other Electric
Secured First Mortgage Sinking Fund Bonds -
			5.24% weighted average fixed rate (2023 - 5.24%)			2026-2060						739						748
Secured First Mortgage Bonds -
			5.29% weighted average fixed rate (2023 - 5.29%)			2025-2061						320						320
Unsecured Senior Notes -
			4.61% weighted average fixed rate (2023 - 4.45%)			2041-2054						207						152
Unsecured U.S. Senior Loan Notes and Bonds -
			5.03% weighted average fixed and variable rate (2023 - 4.89%)			2025-2052						876						702
Corporate and Other
Unsecured U.S. Senior Notes and Promissory Notes -
			3.79% weighted average fixed rate (2023 - 3.82%)			2026-2044						2,172						2,251
Unsecured Debentures -
			6.51% fixed rate (2023 - 6.51%)			2039						200						200
Unsecured Senior Notes -
			4.11% weighted average fixed rate (2023 - 4.10%)			2028-2033						2,000						1,500
Long-term classification of credit facility borrowings												2,216						1,572
Fair value adjustment - ITC acquisition												88						89
Total long-term debt (Note 26)												33,405						29,703
Less: Deferred financing costs and debt discounts												(191)						(172)
Less: Current installments of long-term debt												(1,990)						(2,296)
												31,224						27,235

Significant Long-Term Debt Issuances in 2024			Month Issued						Interest Rate (%)						Maturity						Amount ($ millions)						Use of Proceeds
ITC
Secured senior notes			January						5.98						2034						US	85					(1) (2) (3)
First mortgage bonds			January						5.11						2029						US	75					(1) (2) (3)
First mortgage bonds			January						5.38						2034						US	75					(1) (2) (3)
Unsecured senior notes			May						5.65						2034						US	400					(3) (4)
First mortgage bonds			December						4.88						2035						US	125					(1) (2) (3)
First mortgage bonds			December						5.25						2043						US	125					(1) (2) (3)
UNS Energy
Unsecured senior notes			May						5.60						2036						US	30					(1) (3)
Unsecured senior notes			August						5.20						2034						US	400					(3) (4)
Central Hudson
Senior notes			April						5.59						2031						US	25					(1) (3)
Senior notes			April						5.69						2034						US	35					(1) (3)
Senior notes			October						4.88						2029						US	25					(3) (4)
Senior notes			October						5.30						2034						US	44					(3) (4)
Senior notes			October						5.40						2036						US	35					(3) (4)
FortisBC Electric
Unsecured debentures			August						4.92						2054						100						(1)
FortisAlberta
Unsecured debentures			May						4.90						2054						300						(1) (2) (3) (4)
Caribbean Utilities
Unsecured senior notes			May						6.17						2039						US	40					(1) (2) (3)
Unsecured senior notes			May						6.37						2049						US	40					(1) (2) (3)
FortisOntario
Unsecured senior notes			August						5.05						2054						55						(1)
Fortis
Unsecured senior notes			September						4.17						2031						500						(1) (3) (4)

(1)    Repay short-term and/or credit facility borrowings

(2)    Fund capital expenditures

(3)    General corporate purposes

(4)    Repay maturing long-term debt

Schedule of Long-Term Debt Repayments

The consolidated requirements to meet principal repayments and maturities in each of the next five years and thereafter are as follows.

($ millions)			Total
2025			1,990
2026			2,585
2027			2,541
2028			1,499
2029			1,024
Thereafter			23,766
			33,405

Schedule of Credit Facilities

($ millions)			Regulated Utilities						Corporate and Other						2024						2023
Total credit facilities			4,396						1,946						6,342						6,176
Credit facilities utilized:
Short-term borrowings (1)			(98)						—						(98)						(119)
Long-term debt (including current portion) (2)			(1,335)						(881)						(2,216)						(1,572)
Letters of credit outstanding			(81)						(21)						(102)						(101)
Credit facilities unutilized			2,882						1,044						3,926						4,384

(1)    The weighted average interest rate was approximately 6.1% (2023 - 6.9%).

(2)    The weighted average interest rate was approximately 4.6% (2023 - 6.2%). The current portion was $1,860 million (2023 - $1,160 million).

Consolidated credit facilities of approximately $6.3 billion as at December 31, 2024 are itemized below.

($ millions)			Amount						Maturity
Unsecured committed revolving credit facilities
Regulated utilities
ITC (1)			US	1,000					2028
UNS Energy			US	375					2027
Central Hudson			US	250					2029
FortisBC Energy			900						2028
FortisAlberta			250						2029
FortisBC Electric			200						2028
Other Electric			285						(2)
Other Electric			US	83					2025
Corporate and Other			1,350						(3)
Other facilities
Regulated utilities
Central Hudson - uncommitted credit facility			US	60					n/a
FortisBC Energy - uncommitted credit facility			55						2025
FortisBC Electric - unsecured demand overdraft facility			10						n/a
Other Electric - unsecured demand facilities			20						n/a
Other Electric - unsecured demand facility and emergency standby loan			US	93					2025
Corporate and Other
Unsecured non-revolving facility			US	250					2025
Unsecured revolving facility			US	150					2025
Unsecured non-revolving facility			21						n/a

(1)    ITC also has a US$400 million commercial paper program, under which $nil was outstanding as at December 31, 2024 and 2023

(2)     $90 million in 2027, $65 million in 2027, and $130 million in 2029

(3)    $50 million in 2026 and $1.3 billion in 2029

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