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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Information [Abstract] |
Segment Information | Florida Canadian Gas Utilities Other Inter- Electric Electric and Electric Segment millions of dollars Utility Utilities Infrastructure Utilities Other Eliminations Total For the year ended December 31, 2024 Operating revenues from external customers (1) $ 3,451 $ 1,855 $ 1,595 $ 566 $ (267) $ - $ 7,200 Inter-segment revenues (1) 9 - 14 - 19 (42) - Total operating revenues 3,460 1,855 1,609 566 (248) (42) 7,200 Regulated fuel for generation and purchased power 852 859 - 295 - (14) 1,992 Regulated cost of natural gas - - 396 - - - 396 OM&G 779 408 454 143 154 (20) 1,918 Provincial, state and municipal taxes 273 48 103 3 - - 427 Depreciation and amortization 622 282 182 69 7 - 1,162 Impairment charges - - 11 - 214 - 225 Income from equity investments - 73 20 4 2 - 99 Other income, net 66 28 16 12 73 8 203 Interest expense, net (2) 265 168 151 22 367 - 973 Income tax expense (recovery) 94 (41) 89 1 (302) - (159) NCI in subsidiaries - - - 1 - - 1 Preferred stock dividends - - - - 73 - 73 Net income (loss) attributable to common shareholders $ 641 $ 232 $ 259 $ 48 $ (686) $ - $ 494 Capital expenditures $ 1,942 $ 481 $ 619 $ 81 $ 4 $ - $ 3,127 As at December 31, 2024 Total assets $ 24,375 $ 7,609 $ 8,439 $ 1,444 $ 1,810 $ (726) $ 42,951 Investments subject to significant influence $ - $ 475 $ 124 $ 55 $ - $ - $ 654 Goodwill $ 5,035 $ - $ 823 $ - $ - $ - $ 5,858 (1) All significant inter-company balances and transactions have been eliminated on consolidation except for certain transactions between non-regulated and regulated entities. Management believes elimination of these transactions would understate PP&E, OM&G, or regulated fuel for generation and purchased power. Inter-company transactions that have not been eliminated are measured at the amount of consideration established and agreed to by the related parties. Eliminated transactions are included in determining reportable segments. (2) Segment net income is reported on a basis that includes internally allocated financing costs of $ 29 million for the year ended December 31, 2024, between the Gas Utilities and Infrastructure and Other segments. Florida Canadian Gas Utilities Other Inter- Electric Electric and Electric Segment millions of dollars Utility Utilities Infrastructure Utilities Other Eliminations Total For the year ended December 31, 2023 Operating revenues from external customers (1) $ 3,548 $ 1,671 $ 1,510 $ 526 $ 308 $ - $ 7,563 Inter-segment revenues (1) 8 - 14 - 31 (53) - Total operating revenues 3,556 1,671 1,524 526 339 (53) 7,563 Regulated fuel for generation and purchased power 920 699 - 275 - (13) 1,881 Regulated cost of natural gas - - 527 - - - 527 OM&G 830 384 405 130 151 (21) 1,879 Provincial, state and municipal taxes 289 45 91 3 5 - 433 Depreciation and amortization 571 276 126 68 8 - 1,049 Income from equity investments - 109 21 4 12 - 146 Other income, net 69 32 11 7 20 19 158 Interest expense, net (2) 271 170 129 23 332 - 925 Income tax expense (recovery) 117 (9) 64 - (44) - 128 NCI in subsidiaries - - - 1 - - 1 Preferred stock dividends - - - - 66 - 66 Net income (loss) attributable to common shareholders $ 627 $ 247 $ 214 $ 37 $ (147) $ - $ 978 Capital expenditures $ 1,736 $ 450 $ 664 $ 63 $ 8 $ - $ 2,921 As at December 31, 2023 Total assets $ 21,119 $ 8,634 $ 7,735 $ 1,311 $ 1,938 $ (1,257) $ 39,480 Investments subject to significant influence $ - $ 1,236 $ 118 $ 48 $ - $ - $ 1,402 Goodwill $ 4,628 $ - $ 1,240 $ - $ 3 $ - $ 5,871 (1) All significant inter-company balances and transactions have been eliminated on consolidation except for certain transactions between non-regulated and regulated entities. Management believes elimination of these transactions would understate PP&E, OM&G, or regulated fuel for generation and purchased power. Inter-company transactions that have not been eliminated are measured at the amount of consideration established and agreed to by the related parties. Eliminated transactions are included in determining reportable segments. (2) Segment net income is reported on a basis that includes internally allocated financing costs of $ 95 million for the year ended December 31, 2023, between the Florida Electric Utility, Gas Utilities and Infrastructure and Other segments. Geographical Information Revenues (based on country of origin of the product or service sold) For the Year ended December 31 millions of dollars 2024 2023 United States 4,712 $ 5,310 Canada 1,922 1,727 Barbados 427 389 The Bahamas 139 137 $ 7,200 $ 7,563 PP&E: As at December 31 December 31 millions of dollars 2024 2023 United States (1) $ 20,084 $ 18,588 Canada 5,068 4,878 Barbados 645 576 The Bahamas 371 334 $ 26,168 $ 24,376 (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 and excluded from the table above. For further details on the pending transaction, refer to note 4.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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