XML 77 R59.htm IDEA: XBRL DOCUMENT
v3.25.0.1

FV Measurements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
FV Measurements [Abstract] |
Classification of Fair Value of Derivatives | As at December 31, 2024 millions of dollars Level 1 Level 2 Level 3 Total Assets Regulatory deferral: Commodity swaps and forwards $ 15 $ 3 $ - $ 18 FX forwards - 27 - 27 15 30 - 45 HFT derivatives: Power swaps and physical contracts 2 23 5 30 Natural gas swaps, futures, forwards, physical contracts and related transportation 13 52 27 92 15 75 32 122 Less: Derivatives classified as held for sale (1) - (1) - (1) Total assets 30 104 32 166 Liabilities Regulatory deferral: Commodity swaps and forwards $ 18 $ 19 $ - $ 37 FX forwards - 3 - 3 18 22 - 40 HFT derivatives: Power swaps and physical contracts 2 21 4 27 Natural gas swaps, futures, forwards and physical contracts (11) 89 437 515 (9) 110 441 542 Other derivatives: FX forwards - 34 - 34 Equity derivatives 2 - - 2 2 34 - 36 Less: Derivatives classified as held for sale (1) - (1) - (1) Total liabilities 11 165 441 617 Net assets (liabilities) $ 19 $ (61) $ (409) $ (451) (1) On August 5, 2024, Emera announced an agreement to sell NMGC. As at December 31, 2024, NMGC's assets and liabilities were classified as held for sale. For further details on the pending transaction, refer to note 4 As at December 31, 2023 millions of dollars Level 1 Level 2 Level 3 Total Assets Regulatory deferral: Commodity swaps and forwards $ 7 $ 6 $ - $ 13 FX forwards - 3 - 3 7 9 - 16 HFT derivatives: Power swaps and physical contracts (5) 23 - 18 Natural gas swaps, futures, forwards, physical contracts and related transportation 42 108 34 184 37 131 34 202 Other derivatives: FX forwards - 18 - 18 Equity derivatives 4 - - 4 4 18 - 22 Total assets 48 158 34 240 Liabilities Regulatory deferral: Commodity swaps and forwards 43 30 - 73 FX forwards - 3 - 3 43 33 - 76 HFT derivatives: Power swaps and physical contracts - 24 - 24 Natural gas swaps, futures, forwards and physical contracts 13 19 365 397 13 43 365 421 Other derivatives: FX forwards - 7 - 7 - 7 - 7 Total liabilities 56 83 365 504 Net assets (liabilities) $ (8) $ 75 $ (331) $ (264)
Change in Fair Value of Level 3 Financial Assets and Liabilities | The change in the FV of the Level 3 financial assets and liabilities for the year ended December 31, 2024 was as follows: HFT Derivatives millions of dollars Power Natural gas Total Assets Balance, beginning of period $ - $ 34 $ 34 Total realized and unrealized gains (losses) included in non-regulated operating revenues 5 (7) (2) Balance, December 31, 2024 $ 5 $ 27 $ 32 Liabilities Balance, beginning of period $ - $ 365 $ 365 Total realized and unrealized gains (losses) included in non-regulated operating revenues 4 72 76 Balance, December 31, 2024 $ 4 $ 437 $ 441
Quantitative Information About Significant Unobservable Inputs Used in Level 3 Measurements | Significant Weighted millions of dollars FV Unobservable Input Low High average (1) Assets Liabilities As at December 31, 2024 HFT derivatives – Power 5 4 Third-party pricing $25.60 $139.65 $82.63 swaps and physical contracts HFT derivatives – Natural 27 437 Third-party pricing $2.20 $17.54 $8.57 gas swaps, futures, forwards and physical contracts Total $ 32 $ 441 Net liability $ 409 As at December 31, 2023 HFT derivatives – Natural 34 365 Third-party pricing $1.27 $16.25 $4.85 gas swaps, futures, forwards and physical contracts Total $ 34 $ 365 Net liability $ 331 (1) Unobservable inputs were weighted by the relative FV of the instruments.
Financial Liabilities not Measured at Fair Value on Consolidated Balance Sheets | Long-term debt is a financial liability not measured at FV on the Consolidated Balance Sheets. The balance consisted of the following: As at Carrying millions of dollars Amount FV Level 1 Level 2 Level 3 Total December 31, 2024 $ 18,407 $ 17,941 $ - $ 17,688 $ 253 $ 17,941 December 31, 2023 $ 18,365 $ 16,621 $ - $ 16,363 $ 258 $ 16,621

X
- References No definition available. + Details
Name: | ema_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | ema_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about fair value of asset and liability not measured at fair value. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E + Details
Name: | us-gaap_FairValueDisclosureOfAssetAndLiabilityNotMeasuredAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration