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Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
10. Income Taxes
Income tax provision	The income tax provision, for the years ended December 31, differs from that computed using the enacted combined Canadian federal and provincial statutory income tax rate for the following reasons: millions of dollars 2022 2021 Income before provision for income taxes $ 1,194 $ 555 Statutory income tax rate 29.0% 29.0% Income taxes, at statutory income tax rate 346 161 Deferred income taxes on regulated income recorded as regulatory assets and regulatory liabilities (70) (62) Foreign tax rate variance (44) (42) Amortization of deferred income tax regulatory liabilities (33) (33) GBPC impairment charge  21 - Tax effect of equity earnings (10) (16) Tax credits (18) (13) Other (7) (1) Income tax expense (recovery)  $ 185 $ (6) Effective income tax rate 15% (1%)
Composition of taxes on income from continuing operations	millions of dollars 2022 2021 Current income taxes  Canada $ 25 $ 20  United States 8 11 Deferred income taxes  Canada 120 (33)  United States 252 118  Other - 2 Investment tax credits  United States (7) (11) Operating loss carryforwards  Canada (92) (64)  United States (121) (49) Income tax expense (recovery) $ 185 $ (6) The following table 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 dollars 2022 2021 Canada $ 173 $ 244 United States 1,063 289 Other (42) 22 Income before provision for income taxes $ 1,194 $ 555
Deferred income tax assets and liabilities	The deferred income tax assets and liabilities presented in the Consolidated Balance Sheets as at December 31 consisted of the following: millions of dollars 2022 2021 Deferred income tax assets: Tax loss carryforwards $ 1,207 $ 873 Tax credit carryforwards 415 375 Regulatory liabilities - cost of removal 177 170 Derivative instruments 45 188 Other 428 434 Total deferred income tax assets before valuation allowance 2,272 2,040 Valuation allowance (312) (256) Total deferred income tax assets after valuation allowance $ 1,960 $ 1,784 Deferred income tax (liabilities): PP&E $ (2,981) $ (2,622) Regulatory assets (219) (78) Derivative instruments (125) (197) Other (594) (460) Total deferred income tax liabilities  $ (3,919) $ (3,357) Consolidated Balance Sheets presentation: Long-term deferred income tax assets $ 237 $ 295 Long-term deferred income tax liabilities (2,196) (1,868) Net deferred income tax liabilities $ (1,959) $ (1,573)
Net operating loss ("NOL"), capital loss and tax credit carryforwards and their expiration periods	Emera’s NOL, capital loss and tax credit carryforwards and their expiration periods as at December 31, 2022 consisted of the following: Subject to Tax Valuation Net Tax Expiration millions of dollars Carryforwards Allowance Carryforwards Period Canada  NOL $ 2,372 $ (977) $ 1,395 2026 - 2042  Capital loss 79 (79) - Indefinite United States  Federal NOL $ 2,082 $ - $ 2,082 2032 - Indefinite  State NOL 1,489 - 1,489 2032 - Indefinite  Tax credit 415 - 415 2025 - 2042 Other  NOL $ 73 $ (33) $ 40 2023 - 2029
Details of the change in unrecognized tax benefits	millions of dollars 2022 2021 Balance, January 1 $ 28 $ 30 Increases due to tax positions related to current year 5 4 Increases due to tax positions related to a prior year 2 1 Decreases due to tax positions related to a prior year (2) (1) Decreases due to settlement with tax authorities - (6) Balance, December 31 $ 33 $ 28

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