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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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	2017		2016
Income before provision for income taxes	$	819	$	244
Statutory income tax rate		31%		31%
Income taxes, at statutory income tax rate		254		76
Revaluation of US non-regulated deferred income taxes		317		-
Deferred income taxes on regulated income recorded as regulatory assets and regulatory liabilities		(54)		(47)
Foreign tax rate variance		36		(5)
Financing deductions		(17)		(17)
Tax effect of equity earnings		(12)		(10)
Manufacturing and investment allowances		(8)		(7)
Non-taxable portion of gains on APUC transactions		-		(34)
Non-deductible portion of foreign exchange and mark-to-market adjustments related to the TECO Energy acquisition		-		21
Other		4		1
Income tax expense (recovery)	$	520	$	(22)
Effective income tax rate		63%		(9%)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

millions of Canadian dollars	2017		2016
Current income taxes
Canada	$	24	$	13
United States		24		18
Other		3		15
Deferred income taxes
Canada		3		(113)
United States		384		151
Other		(1)		-
Operating loss carry forwards
Canada		(40)		(2)
United States		(194)		(104)
Revaluation of US non-regulated deferred income taxes
United States		317		-
Income tax expense (recovery)	$	520	$	(22)
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	2017		2016
Canada	$	88	$	71
United States		693		44
Other		38		129
Income before provision for income taxes	$	819	$	244

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	2017		2016
Deferred income tax assets:
Tax loss carry forwards	$	853	$	1,036
Tax credit carry forwards		314		318
Regulatory liabilities - cost of removal		208		388
Pension and post-retirement liabilities		124		153
Derivative instruments		107		150
Other		394		490
Total deferred income tax assets before valuation allowance		2,000		2,535
Valuation allowance		(105)		(58)
Total deferred income tax assets after valuation allowance	$	1,895	$	2,477
Deferred income tax (liabilities):
Property, plant and equipment	$	(2,321)	$	(3,553)
Derivative instruments		(155)		(202)
Other		(292)		(269)
Total deferred income tax liabilities	$	(2,768)	$	(4,024)
Consolidated Balance Sheets presentation:
Long-term deferred income tax assets	$	138	$	125
Long-term deferred income tax liabilities		(1,011)		(1,672)
Net deferred income tax liabilities	$	(873)	$	(1,547)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

millions of Canadian dollars	2017		2016
Canada
NOL	$	532	$	199
Capital loss		77		77
United States
Federal NOL	$	2,926	$	2,595
State NOL		1,271		1,183
Capital loss		13		14
Tax credit		314		318
Other
NOL	$	29	$	22

Summary of Tax Credit Carryforwards [Table Text Block]

The following table summarizes as at December 31, 2017 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	$	164	$	(80)	$	84	2027-2037
Capital loss		16		(16)		-	Indefinite
United States
Federal NOL	$	602	$	-	$	602	2024-2037
State NOL		65		(2)		63	2024-2037
Capital loss		2		(2)		-	2018-2019
Tax credit		314		-		314	2019-Indefinite
Other
NOL	$	4	$	(4)	$	-	2018-2024

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

millions of Canadian dollars	2017		2016
Balance, January 1	$	18	$	6
Increases due to tax positions related to current year		1		12
Balance, December 31	$	19	$	18

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances.

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