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Investments Subject to Significant Influence and Equity Income (Tables)
 12 Months Ended
Dec. 31, 2023
Variable Interest Entity [Line Items]  
Summary of Investments Subject to Significant Influence
Equity Income
Percentage
Carrying Value
For the year ended
of
As at December 31
December 31
Ownership
millions of dollars
2023
2022
2023
2022
2023
LIL
(1)
$
 
747
$
 
740
$
 
63
$
 
58
 
31.0
NSPML
 
489
 
501
 
46
 
29
 
100.0
M&NP
 
(2)
 
118
 
128
 
21
 
21
 
12.9
Lucelec
(2)
 
48
 
49
 
4
 
4
 
19.5
Bear Swamp
 
(3)
-
 
-
 
 
12
 
17
 
50.0
$
 
1,402
$
 
1,418
$
 
146
$
 
129
(1) Emera indirectly owns
100
 
per cent of the Class B units, which comprises
24.5
 
per cent of the total units issued. 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) Emera has significant influence over the operating and financial decisions of these companies through Board representation
 
and
therefore, records its investment in these entities using the equity method.
 
(3) The investment balance in Bear Swamp is in a credit position primarily as a result of a $
179
 
million distribution received in 2015.
Bear Swamp's credit investment balance of $
81
 
million (2022 – $
95
 
million) is recorded in Other long-term liabilities on the
Consolidated Balance Sheets.
NSP Maritime Link Inc. [Member]  
Variable Interest Entity [Line Items]  
Summary of Investments Subject to Significant Influence
Emera accounts for its variable interest investment in NSPML as an equity investment (note 32).
NSPML's consolidated summarized balance sheets are illustrated as follows:
As at
December 31
millions of dollars
2023
2022
Balance Sheets
Current assets
$
 
21
$
 
17
PP&E
 
1,473
 
1,517
Regulatory assets
 
272
 
265
Non-current assets
 
29
 
29
Total assets
$
 
1,795
$
 
1,828
Current liabilities
$
 
48
$
 
48
Long-term debt
(1)
 
1,109
 
1,149
Non-current liabilities
 
149
 
130
Equity
 
489
 
501
Total liabilities and equity
$
 
1,795
$
 
1,828
(1) The project debt has been guaranteed by the Government of Canada.