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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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 enacted combined Canadian federal and Nova Scotia and New Brunswick provincial statutory income tax rate for the following reasons:
millions of Canadian dollars	2018		2017
Income before provision for income taxes	$	816	$	819
Statutory income tax rate		31%		31%
Income taxes, at statutory income tax rate		253		254
Deferred income taxes on regulated income recorded as regulatory assets and regulatory liabilities		(59)		(54)
Foreign tax rate variance		(55)		36
Amortization of deferred income tax regulatory liabilities		(37)		-
Florida state tax apportionment adjustment		(23)		-
Tax effect of equity earnings		(15)		(12)
Financing deductions		(4)		(17)
Revaluation of US non-regulated deferred income taxes due to tax reform		-		317
Other		9		(4)
Income tax expense (recovery)	$	69	$	520
Effective income tax rate		8%		63%

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

millions of Canadian dollars	2018		2017
Current income taxes
Canada	$	3	$	24
United States		(121)		24
Other		2		3
Deferred income taxes
Canada		11		3
United States		211		384
Other		(3)		(1)
Operating loss carryforwards
Canada		(33)		(40)
United States		-		(194)
Other		(1)		-
Revaluation of US non-regulated deferred income taxes
United States		-		317
Income tax expense (recovery)	$	69	$	520
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	2018		2017
Canada	$	127	$	88
United States		646		693
Other		43		38
Income before provision for income taxes	$	816	$	819

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	2018		2017
Deferred income tax assets:
Tax loss carryforwards	$	917	$	853
Tax credit carryforwards		269		314
Regulatory liabilities - cost of removal		206		208
Pension and post-retirement liabilities		126		112
Derivative instruments		90		107
Other		441		394
Total deferred income tax assets before valuation allowance		2,049		1,988
Valuation allowance		(163)		(105)
Total deferred income tax assets after valuation allowance	$	1,886	$	1,883
Deferred income tax (liabilities):
Property, plant and equipment	$	(2,591)	$	(2,321)
Derivative instruments		(124)		(155)
Other		(316)		(292)
Total deferred income tax liabilities	$	(3,031)	$	(2,768)
Consolidated Balance Sheets presentation:
Long-term deferred income tax assets	$	175	$	138
Long-term deferred income tax liabilities		(1,320)		(1,023)
Net deferred income tax liabilities	$	(1,145)	$	(885)

Summary of Tax Credit Carryforwards [Table Text Block]

Emera’s net operating loss (“NOL”), capital loss and tax credit carryforwards and their expiration periods as at December 31, 2018 consisted of the following:
	Gross Tax		Unrecognized		Net Tax		Expiration
millions of Canadian dollars	Carryforwards		Amounts		Carryforwards		Period
Canada
NOL	$	817	$	(405)	$	412	2027-2038
Capital loss		86		(77)		9	Indefinite
United States
Federal NOL	$	2,848	$	-	$	2,848	2024-2037
State NOL		1,314		(47)		1,267	2024-2038
Capital loss		6		(6)		-	2019
Tax credit		268		-		268	2019-Indefinite
Other
NOL	$	34	$	(34)	$	-	2019-2025

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

millions of Canadian dollars	2018		2017
Balance, January 1	$	19	$	18
Increases due to tax positions related to a prior year		8		-
Decreases due to tax positions related to a prior year		(1)		-
Increases due to tax positions related to current year		-		1
Balance, December 31	$	26	$	19

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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 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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