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Segment Information (Tables)
12 Months Ended
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.