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Leases (Tables)
 12 Months Ended
Dec. 31, 2022
19. Leases  
Lessee, Operating Lease and additional information
As at
December 31
December 31
millions of dollars
 
Classification
2022
2021
Right-of-use asset
Other long-term assets
$
58
$
 
58
Lease liabilities
 
Current
Other current liabilities
3
 
3
 
Long-term
Other long-term liabilities
59
 
58
Total lease liabilities
$
62
$
 
61
Additional information related to Emera's leases is as follows:
Year ended December 31
For the
2022
2021
Cash paid for amounts included in the measurement of lease liabilities:
 
Operating cash flows for operating leases (millions of dollars)
$
 
8
$
 
7
Right-of-use assets obtained in exchange for lease obligations:
 
Operating leases (millions of dollars)
$
 
1
$
-
 
Weighted average remaining lease term (years)
 
44
 
44
Weighted average discount rate- operating leases
3.98%
3.98%
Future minimum lease payments under non-cancellable operating leases
Future minimum lease payments under non-cancellable operating leases for each of the next five years
and in aggregate thereafter are as follows:
millions of dollars
2023
2024
2025
2026
2027
Thereafter
Total
Minimum lease payments
$
 
6
$
 
6
$
 
5
$
 
3
$
 
3
$
 
116
$
 
139
Less imputed interest
(77)
Total
$
 
62
Net Investment in direct finance leases
As at
December 31
December 31
millions of dollars
 
2022
2021
Total minimum lease payment to be received
$
 
1,393
$
 
947
Less: amounts representing estimated executory costs
(205)
(165)
Minimum lease payments receivable
$
 
1,188
$
 
782
Estimated residual value of leased property (unguaranteed)
 
183
 
183
Less: unearned finance lease income
(733)
(443)
Net investment in direct finance and sales-type leases
$
 
638
$
522
Principal due within one year (included in "Receivables and other
current assets")
 
34
 
19
Net Investment in direct finance and sales type leases - long-term
$
604
$
503
Future minimum lease payments to be received for the next five years
As at December 31, 2022, future minimum lease payments to be received for each of the next five years
and in aggregate thereafter are as follows:
millions of dollars
2023
2024
2025
2026
2027
Thereafter
Total
Minimum lease payments to be
received
$
 
90
$
 
92
$
 
95
$
 
94
$
 
92
$
 
930
$
 
1,393
Less: executory costs
(205)
Total
$
 
1,188