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Investments Subject to Significant Influence and Equity Income (Tables)

12 Months Ended

Dec. 31, 2019

Variable Interest Entity [Line Items]

Investments subject to significant influence

					Equity Income				Percentage
	Carrying Value				For the year ended				of
millions of Canadian dollars	As at December 31				December 31				Ownership
		2019		2018		2019		2018	2019
LIL (1)	$	579	$	534	$	45	$	42	49.5
NSPML		554		545		46		45	100.0
M&NP (2)		138		155		22		22	12.9
Lucelec (2)		41		42		3		3	19.1
Bear Swamp (3)		-		-		35		38	50.0
Other Investments		-		40		3		4
	$	1,312	$	1,316	$	154	$	154
(1) Emera indirectly owns 100 per cent of the Class B units, which comprises 24.9 per cent of the total units issued. Emera’s percentage ownership in LIL ‎is subject to change, based on the balance of capital investments required from Emera and Nalcor Energy to complete construction of the LIL. Emera’s ultimate percentage investment in LIL will be determined upon final costing of all transmission projects related to the Muskrat Falls development, including the LIL, Labrador Transmission Assets and Maritime Link Projects, such that Emera’s total investment in the Maritime Link and LIL will equal 49 per cent of the cost of all of these transmission developments.
(2) Although Emera’s ownership percentage of these entities is relatively low, it is considered to have significant influence over the operating and financial decisions of these companies through Board representation. Therefore, Emera records its investment in these entities using the equity method.
(3) The investment balance in Bear Swamp is in a credit position, primarily a result of a $179 million distribution received in 2015. Bear Swamp's credit investment balance of $137 million (2018 - $172 million) is recorded in "Other long-term liabilities" on the Consolidated Balance Sheets.

NSPML

Variable Interest Entity [Line Items]

Investments subject to significant influence

Emera accounts for its variable interest investment in NSPML as an equity investment (note 31). NSPML's consolidated summarized balance sheets are illustrated as follows:
As at	December 31
millions of Canadian dollars	2019		2018
Balance Sheets
Current assets	$	69	$	86
Property, plant and equipment		1,671		1,690
Regulatory assets		177		108
Non-current assets		32		32
Total assets	$	1,949	$	1,916
Current liabilities	$	23	$	21
Long-term debt (1)		1,288		1,288
Non-current liabilities		84		62
Equity		554		545
Total liabilities and equity	$	1,949	$	1,916
(1) The project debt has been guaranteed by the Government of Canada.

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- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

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