XML 93 R76.htm IDEA: XBRL DOCUMENT v3.7.0.1
Supplemental Financial Information (Tables)
 12 Months Ended
Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Income Statement [Table Text Block]
ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Operating revenues
Regulated electric$ - $ - $ 1,665$ 1,774$ (2)$ 3,437
Regulated gas - - 451 48 - 499
Non-regulated - - 378 (4) (33) 341
Total operating revenues - - 2,494 1,818 (35) 4,277
Operating expenses
Regulated fuel for generation and purchased power - - 560 662 - 1,222
Regulated cost of natural gas - - 177 - - 177
Regulated fuel adjustment mechanism and fixed cost deferrals - - - 61 - 61
Non-regulated fuel for generation and purchased power - - 261 56 (4) 313
Non-regulated direct costs - - - 52 (23) 29
Operating, maintenance and general 37 - 647 461 (8) 1,137
Provincial, state and municipal taxes - - 152 43 - 195
Depreciation and amortization 2 - 330 256 - 588
Total operating expenses 39 - 2,127 1,591 (35) 3,722
Income (loss) from operations (39) - 367 227 - 555
Income (loss) from equity investments in subsidiaries 150 - - - (150) -
Income from equity investments 18 - - 82 - 100
Intercompany income (expenses), net 203 101 (107) (151) (46) -
Other income (expenses), net 135 - 24 15 - 174
Interest expense, net 226 85 127 147 - 585
Income (loss) before provision for income taxes 241 16 157 26 (196) 244
Income tax expense (recovery) (14) 7 48 (63) - (22)
Net income (loss) 255 9 109 89 (196) 266
Non-controlling interest in subsidiaries - - - 7 4 11
Net income (loss) of Emera Incorporated 255 9 109 82 (200) 255
Preferred stock dividends 28 - 31 19 (50) 28
Net income (loss) attributable to common shareholders$ 227$ 9$ 78$ 63$ (150)$ 227
Comprehensive income (loss) of Emera Incorporated$ 228$ 19$ 205$ 59$ (283)$ 228

ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Operating revenues
Regulated electric$ - $ - $ 283$ 1,860$ (2)$ 2,141
Regulated gas - - - 52 - 52
Non-regulated - - 419 219 (42) 596
Total operating revenues - - 702 2,131 (44) 2,789
Operating expenses
Regulated fuel for generation and purchased power - - 70 745 - 815
Regulated fuel adjustment mechanism and fixed cost deferrals - - - 42 - 42
Non-regulated fuel for generation and purchased power - - 277 64 (5) 336
Non-regulated direct costs - - - 49 (30) 19
Operating, maintenance and general 54 - 148 472 (8) 666
Provincial, state and municipal taxes - - 21 42 - 63
Depreciation and amortization 1 - 79 260 - 340
Total operating expenses 55 - 595 1,674 (43) 2,281
Income (loss) from operations (55) - 107 457 (1) 508
Income (loss) from equity investments in subsidiaries 270 - - - (270) -
Income from equity investments 37 - 5 66 - 108
Intercompany income (expenses), net 156 - - 8 (164) -
Other income (expenses), net 91 - 21 29 - 141
Interest expense, net 46 - 28 272 (134) 212
Income (loss) before provision for income taxes 453 - 105 288 (301) 545
Income tax expense (recovery) 25 - 35 33 - 93
Net income (loss) 428 - 70 255 (301) 452
Non-controlling interest in subsidiaries - - - 13 12 25
Net income (loss) of Emera Incorporated 428 - 70 242 (313) 427
Preferred stock dividends 30 - 15 26 (41) 30
Net income (loss) attributable to common shareholders$ 398$ - $ 55$ 216$ (272)$ 397
Comprehensive income (loss) of Emera Incorporated$ 911$ - $ 303$ 452$ (755)$ 911
Condensed Balance Sheet [Table Text Block]
ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Assets
Current assets
Cash and cash equivalents$200$28$48$128$-$404
Restricted cash --186-87
Receivables, net 1-429584-1,014
Intercompany receivables57911569(646)-
Income taxes receivable --528-33
Inventory --273199-472
Derivative instruments 13-33112(13)145
Regulatory assets --5426-80
Prepayments and other current assets 2-44230-276
Total current assets273378981,962(659)2,511
Property, plant and equipment, net of accumulated depreciation14-12,7244,552-17,290
Other assets
Income taxes receivable ---48-48
Deferred income taxes 31-18114(38)125
Derivative instruments 12-2129(12)131
Pension and post-retirement asset---9-9
Regulatory assets --647595-1,242
Net investment in direct financing lease --13475-488
Investments in subsidiaries accounted for using the equity method 8,349---(8,349)-
Investments subject to significant influence 5-13929-947
Investment securities---48-48
Goodwill --6,110103-6,213
Intercompany notes receivable1,3414,55816589(6,504)-
Other investments - intercompany---2,270(2,270)-
Other long-term assets33-8570(19)169
Total other assets9,7714,5586,9045,379(17,192)9,420
Total assets$10,058$4,595$20,526$11,893$(17,851)$29,221

Emera Incorporated
Consolidated Balance Sheets – Continued
As at December 31, 2016
ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Liabilities and Equity
Current liabilities
Short-term debt $-$-$948$13$-$961
Current portion of long-term debt --43640-476
Accounts payable 6-756480-1,242
Intercompany payable 53468125(646)-
Income taxes payable -6-13-19
Derivative instruments 14-10314(13)325
Regulatory liabilities --225137-362
Pension and post-retirement liabilities --517-58
Other current liabilities 54779141-281
Total current liabilities608192,5861,170(659)3,724
Long-term liabilities
Long-term debt 2,3384,3144,6872,929-14,268
Intercompany long-term debt366-4,7781,357(6,501)-
Deferred income taxes -11,193516(38)1,672
Convertible debentures 8----8
Derivative instruments 12--150(12)150
Regulatory liabilities --973304-1,277
Asset retirement obligations --61109-170
Pension and post-retirement liabilities 17-433219-669
Other long-term liabilities 5-213268(19)467
Total long-term liabilities2,7464,31512,3385,852(6,570)18,681
Equity
Common stock4,7382424,1773,997(8,416)4,738
Cumulative preferred stock709-620271(891)709
Contributed surplus75-45106(151)75
Accumulated other comprehensive income (loss) 10610340(191)(159)106
Retained earnings 1,0769420610(1,039)1,076
Total Emera Incorporated equity6,7042615,6024,793(10,656)6,704
Non-controlling interest in subsidiaries ---7834112
Total equity6,7042615,6024,871(10,622)6,816
Total liabilities and equity$10,058$4,595$20,526$11,893$(17,851)$29,221

ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Assets
Current assets
Cash and cash equivalents$-$-$19$1,068$(14)$1,073
Restricted cash --118-19
Receivables, net 2-70506-578
Intercompany receivable102-5195(248)-
Income taxes receivable --93-12
Inventory --48266-314
Derivative instruments 109-46112(17)250
Regulatory assets --1777-94
Prepayments and other current assets 9-4243-256
Total current assets222-2652,388(279)2,596
Property, plant and equipment, net of accumulated depreciation15-2,0354,419-6,469
Other assets
Income taxes receivable ---49-49
Deferred income taxes --4719(34)32
Derivative instruments 35--167(34)168
Pension and post-retirement assets---9-9
Regulatory assets --100505-605
Net investment in direct financing lease ---480-480
Investments in subsidiaries accounted for using the equity method 6,042---(6,042)-
Investments subject to significant influence 509-12624-1,145
Investment securities---116-116
Goodwill --158106-264
Intercompany notes receivable3,051--2,754(5,805)-
Other investments - intercompany---98(98)-
Other long-term assets16-1377-106
Total other assets9,653-3305,004(12,013)2,974
Total assets$9,890$-$2,630$11,811$(12,292)$12,039

Emera Incorporated
Consolidated Balance Sheets – Continued
As at December 31, 2015
ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Liabilities and Equity
Current liabilities
Short-term debt $14$-$-$16$(14)$16
Current portion of long-term debt 250-618-274
Accounts payable 17-76301-394
Income taxes payable ---8-8
Intercompany payable 52-9277(221)-
Derivative instruments 17-36313(17)349
Regulatory liabilities --10102-112
Pension and post-retirement liabilities ---7-7
Other current liabilities 51-24132-207
Total current liabilities401-244974(252)1,367
Long-term liabilities
Long-term debt 464-3892,882-3,735
Intercompany long-term debt2,631-1203,072(5,823)-
Deferred income taxes 3-343450(34)762
Convertible debentures (represented by installment receipts)2,139--(1,458)-681
Derivative instruments 34--96(34)96
Regulatory liabilities --12341-353
Asset retirement obligations ---109-109
Pension and post-retirement liabilities 13-93197-303
Other long-term liabilities 5-61233-299
Total long-term liabilities5,289-1,0185,922(5,891)6,338
Equity
Common stock2,157-3123,829(4,141)2,157
Cumulative preferred stock709-425271(696)709
Contributed surplus29-45133(178)29
Accumulated other comprehensive income (loss) 137-245(169)(76)137
Retained earnings 1,168-341751(1,092)1,168
Total Emera Incorporated equity4,200-1,3684,815(6,183)4,200
Non-controlling interest in subsidiaries ---10034134
Total equity4,200-1,3684,915(6,149)4,334
Total liabilities and equity$9,890$-$2,630$11,811$(12,292)$12,039
Condensed Cash Flow Statement [Table Text Block]
Emera Incorporated
Consolidated Statements of Cash Flows
For the year ended December 31, 2016
ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Net cash provided by (used in) by operating activities$265$29$481$107$171$1,053
Investing activities
Acquisitions, net of cash acquired--(8,409)--(8,409)
Additions to property, plant and equipment(2)-(633)(396)-(1,031)
Net purchase of investments subject to significant influence, inclusive of acquisition costs---(276)-(276)
Net proceeds on sale of investment subject to significant influence and held-for-trading common shares665----665
Other intercompany investing activities (2,348)(4,416)(18)(2,397)9,179-
Other investing activities--(42)(12)-(54)
Net cash provided by (used in) investing activities(1,685)(4,416)(9,102)(3,081)9,179(9,105)
Financing activities
Change in short-term debt, net(14)-122(4)14118
Proceeds from long-term debt, net of issuance costs2,0374,1874,516764(5,081)6,423
Proceeds from convertible debentures represented by instalment receipts, net of issuance costs(44)--1,457-1,413
Retirement of long-term debt(250)-(6)(36)19(273)
Net borrowings (repayments) under committed credit facilities(210)--(99)(6)(315)
Issuance of common stock, net of issuance costs3542423,86595(4,202)354
Issuance of preferred stock, net of issuance costs--195-(195)-
Dividends on common stock(221)--(254)254(221)
Dividends on preferred stock(28)-(31)(18)49(28)
Dividends paid by subsidiaries to non-controlling interest---(2)(3)(5)
Other financing activities --(18)185(185)(18)
Net cash provided by (used in) financing activities1,6244,4298,6432,088(9,336)7,448
Effect of exchange rate changes on cash and cash equivalents(4)(14)7(54)-(65)
Net increase (decrease) in cash and cash equivalents2002829(940)14(669)
Cash and cash equivalents, beginning of period--191,068(14)1,073
Cash and cash equivalents, end of period$200$28$48$128$-$404

Emera Incorporated
Consolidated Statements of Cash Flows
For the year ended December 31, 2015
ParentSubsidiary IssuerGuarantor SubsidiariesNon-guarantor SubsidiariesEliminationsConsolidated
millions of Canadian dollars
Net cash provided by (used in) operating activities$291$-$190$364$(171)$674
Investing activities
Additions to property, plant and equipment(7)-(66)(354)-(427)
Net purchase of investments subject to significant influence, inclusive of acquisition costs(1)-(3)(132)-(136)
Proceeds on sale of investment subject to significant influence--282--282
Other intercompany investing activities(2,453)--(29)2,482-
Other investing activities(751)-(10)(413)1,331157
Net cash provided by (used in) investing activities(3,212)-203(928)3,813(124)
Financing activities
Change in short-term debt, net4--(262)(4)(262)
Proceeds from long-term debt, net of issuance costs--291,465(1,048)446
Proceeds from convertible debentures represented by instalment receipts, net of issuance costs 2,138--(1,457)-681
Retirement of long-term debt--(420)(372)702(90)
Net borrowings (repayments) under committed credit facilities(39)-(9)(153)-(201)
Issuance of common stock, net of issuance costs9--2,390(2,390)9
Issuance of preferred stock, net of issuance costs---6(6)-
Dividends on common stock(162)--(162)162(162)
Dividends on preferred stock(30)-(15)(25)40(30)
Dividends paid by subsidiaries to non-controlling interest---(3)(11)(14)
Other financing activities 1,001-(11)(55)(1,091)(156)
Net cash provided by (used in) financing activities2,921-(426)1,372(3,646)221
Effect of exchange rate changes on cash and cash equivalents--1467-81
Net increase (decrease) in cash and cash equivalents--(19)875(4)852
Cash and cash equivalents, beginning of period--38193(10)221
Cash and cash equivalents, end of period$-$-$19$1,068$(14)$1,073