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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Taxes [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
The income tax provision, for the years ended December 31, differs from that computed using the statutory income tax rate for the following reasons:
millions of Canadian dollars | 2016 | 2015
Income before provision for income taxes | $ | 244 | $ | 545
Statutory income tax rate |  | 31% |  | 31%
Income taxes, at statutory income tax rates |  | 76 |  | 169
Deferred income taxes on regulated income recorded as regulatory assets and regulatory liabilities |  | (47) |  | (31)
Non-taxable portion of gains on APUC transactions |  | (34) |  | -
Non-deductible (non-taxable) portion of foreign exchange and mark-to-market adjustments related to the TECO Energy acquisition |  | 21 |  | (18)
Financing deductions |  | (17) |  | (10)
Tax effect of equity earnings |  | (10) |  | (11)
Manufacturing and investment allowances |  | (7) |  | (5)
Foreign tax rate variance |  | (5) |  | 2
Other |  | 1 |  | (3)
Income tax expense (recovery) | $ | (22) | $ | 93
Effective income tax rate |  | (9%) |  | 17%
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
millions of Canadian dollars | 2016 | 2015
Current income taxes |  |  |  |
Canada | $ | 13 | $ | 42
United States |  | 18 |  | 26
Other |  | 15 |  | 5
Deferred income taxes |  |  |  |
Canada | $ | (113) | $ | 11
United States |  | 151 |  | 14
Other |  | - |  | (1)
Operating loss carry forwards |  |  |  |
Canada |  | (2) |  | (4)
United States |  | (104) |  | -
Income tax expense (recovery) | $ | (22) | $ | 93
The following reflects the composition of income before provision for income taxes presented in the Consolidated Statements of Income for the years ended December 31:
millions of Canadian dollars | 2016 | 2015
Canada | $ | 71 | $ | 349
United States |  | 44 |  | 137
Other |  | 129 |  | 59
Income before provision for income taxes | $ | 244 | $ | 545
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] |
The deferred income tax assets and liabilities presented in the Consolidated Balance Sheets as at December 31 consisted of the following:
millions of Canadian dollars | 2016 | 2015
Deferred income tax assets: |  |  |  |
Tax loss carry forwards | $ | 1,036 | $ | 72
Regulatory liabilities - cost of removal |  | 388 |  | 42
Tax credit carry forwards |  | 318 |  | 7
Derivative instruments |  | 173 |  | 204
Pension and post-retirement liabilities |  | 147 |  | 129
Regulatory liabilities – deferrals related to derivative instruments |  | 101 |  | 94
Asset retirement obligations |  | 47 |  | 47
Other |  | 355 |  | 136
Total deferred income tax assets before valuation allowance |  | 2,565 |  | 731
Valuation allowance |  | (58) |  | (18)
Total deferred income tax assets after valuation allowance | $ | 2,507 | $ | 713
Deferred income tax (liabilities): |  |  |  |
Property, plant and equipment | $ | (3,625) | $ | (960)
Derivative instruments |  | (202) |  | (264)
Net investment in direct financing lease |  | (103) |  | (89)
Other |  | (124) |  | (130)
Total deferred income tax liabilities | $ | (4,054) | $ | (1,443)
Consolidated Balance Sheets presentation: |  |  |  |
Long-term deferred income tax assets |  | 125 |  | 32
Long-term deferred income tax liabilities |  | (1,672) |  | (762)
Net deferred income tax liabilities | $ | (1,547) | $ | (730)
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
millions of Canadian dollars | 2016 | 2015
Canada |  |  |  |
NOL | $ | 199 | $ | 103
Capital loss |  | 77 |  | 84
United States |  |  |  |
Federal NOL | $ | 2,595 | $ | 48
State NOL |  | 1,183 |  | 225
Capital loss |  | 14 |  | 4
Tax credit |  | 318 |  | 30
Other |  |  |  |
NOL | $ | 22 | $ | 14
Summary of Tax Credit Carryforwards [Table Text Block] |
The following table summarizes as at December 31, 2016 the deferred tax assets associated with NOL, capital loss and tax credit carry forwards and the associated expiration periods, and the valuation allowances for amounts which Emera has determined that realization is uncertain:
| Deferred Tax | Valuation | Net Deferred | Expiration
millions of Canadian dollars | Asset | Allowance | Tax Asset | Period
Canada |  |  |  |  |  |  |
NOL | $ | 61 | $ | (27) | $ | 34 | 2026-2036
Capital loss |  | 16 |  | (16) |  | - | Indefinite
United States |  |  |  |  |  |  |
Federal NOL | $ | 908 | $ | - | $ | 908 | 2024-2036
State NOL |  | 45 |  | (1) |  | 44 | 2017-2036
Capital loss |  | 3 |  | (3) |  | - | 2018-2019
Tax credit |  | 318 |  | - |  | 318 | 2019-2036
Other |  |  |  |  |  |  |
NOL | $ | 3 | $ | (3) | $ | - | 2017-2023
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
millions of Canadian dollars | 2016 | 2015
Balance, January 1 | $ | 6 | $ | 5
Increases due to tax positions related to current year |  | 12 |  | -
Increases due to tax positions related to a prior year |  | - |  | 1
Balance, December 31 | $ | 18 | $ | 6

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