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Net Investment in Direct Financing Lease | 12 Months Ended
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Dec. 31, 2016
Net Investment in Direct Financing Lease [Abstract] |
NET INVESTMENT IN DIRECT FINANCING LEASE | 22. NET INVESTMENT IN DIRECT FINANCING LEASE Emera’s net investment in direct financing lease primarily relates to Brunswick Pipeline. B runswick Pipeline commenced service on July 16, 2009, transporting re-gasified LNG for Repsol Energy Canada under a 25-year firm service agreement. The agreement meets the definition of a direct financing capital lease for accounting purposes. The net investment in direct financing lease consists of the sum of the minimum lease payments and residual value net of estimated executory costs and unearned income. The unearned income is recognized in income over the life of the lease using a constant rate of interest equal to the internal rate of return on the lease. Net investment in direct financing lease consist s of the following:
As at | December 31 | December 31
millions of Canadian dollars |  | 2016 |  | 2015
Total minimum lease payments to be received | $ | 1,194 | $ | 1,202
Less: amounts representing estimated executory costs |  | (223) |  | (213)
Minimum lease payments receivable | $ | 971 | $ | 989
Estimated residual value of leased property (unguaranteed) |  | 183 |  | 183
Less: unearned finance lease income |  | (658) |  | (686)
Net investment in direct financing lease | $ | 496 | $ | 486
Principal due within one year (included in “Prepayments and other current assets”) |  | 8 |  | 6
Net investment in direct financing lease – long-term | $ | 488 | $ | 480
Future minimum lease payments to be received for the next five years:
For the | Year ended December 31
millions of Canadian dollars | 2017 | 2018 | 2019 | 2020 | 2021
Minimum lease payments to be received | $ | 65 | $ | 65 | $ | 65 | $ | 65 | $ | 65
Less: amounts representing estimated executory costs |  | (11) |  | (11) |  | (12) |  | (12) |  | (12)
Minimum lease payments receivable | $ | 54 | $ | 54 | $ | 53 | $ | 53 | $ | 53

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- Definition The entire disclosure for lessor's leasing arrangements, which includes direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25496975&loc=d3e45377-112738 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 47 -URI http://asc.fasb.org/extlink&oid=6584217&loc=d3e38847-112698 + Details
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- References No definition available. + Details
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