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Business acquisitions and development projects (Tables) | 12 Months Ended
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Dec. 31, 2017
Business Combinations [Abstract] |
Allocation of Assets Acquired and Liabilities Assumed | The following table summarizes the allocation of the assets acquired and liabilities assumed at the acquisition date:
Working capital | $ | 2,045 |
Property, plant and equipment | 345,254 |
Notes receivable | 1,781 |
Goodwill | 210,463 |
Regulatory assets | 54,548 |
Other assets | 185 |
Long-term debt | (146,727 | )
Regulatory liabilities | (3,758 | )
Pension and OPEB | (18,747 | )
Deferred income tax liability, net | (51,795 | )
Other liabilities | (40,172 | )
Total net assets acquired | $ | 353,077 |
The following table summarizes the allocation of the assets acquired and liabilities assumed at the acquisition date:
Working capital | $ | 198 |
Property, plant and equipment | 145,045 |
Asset retirement obligation | (714 | )
Non-controlling interest (tax equity) | (50,548 | )
Total net assets acquired | $ | 93,981 |
The following table summarizes the final allocation of the purchase consideration to the assets and liabilities acquired as at January 1, 2017 based on their fair values, using the exchange rate on that date of U.S. $1.00 = CAD $1.3427.
Working capital | $ | 55,441 |
Property, plant and equipment | 2,764,441 |
Goodwill | 1,010,273 |
Regulatory assets | 318,130 |
Other assets | 58,553 |
Long-term debt | (1,218,563 | )
Regulatory liabilities | (195,489 | )
Pension and other post-employment benefits | (105,005 | )
Deferred income tax liability, net | (562,397 | )
Other liabilities | (102,759 | )
Total net assets acquired | $ | 2,022,625 |
Cash and cash equivalent | $ | 2,338 |
Total net assets acquired, net of cash and cash equivalent | $ | 2,020,287 |
The following table summarizes the allocation of the assets acquired and liabilities assumed at the acquisition date:
Working capital | $ | 11,836 |
Property, plant and equipment | 469,222 |
Asset retirement obligation | (4,812 | )
Deferred tax liability | (4,273 | )
Non-controlling interest (tax equity investors) | (237,156 | )
Net assets | $ | 234,817 |
The following table summarizes the allocation of the assets acquired and liabilities assumed at the acquisition date:
Working Capital | $ | (14,551 | )
Property, plant and equipment | 442,086 |
Construction loan | (352,666 | )
Asset retirement obligation | (2,816 | )
Deferred revenue | (1,556 | )
Deferred tax liability | (1,979 | )
Net assets acquired | $ | 68,518 |
Cash and cash equivalent | $ | 4,183 |
Net assets acquired, net of cash and cash equivalent | $ | 64,335 |
Business Acquisition, Pro Forma Information | The table below presents the consolidated pro forma revenue and net income for the year ended December 31, 2017 and 2016, assuming the acquisition of Empire had occurred on January 1, 2016. Pro forma net income includes the impact of fair value adjustments incorporated in the preliminary purchase price allocation above and adjustments necessary to reflect the financing costs as if the acquisition had been financed on January 1, 2016. However, non-recurring acquisition-related expenses are excluded from net income.
| Year Ended December 31
| 2017 | 2016
Revenues | $ | 1,977,809 |  | $ | 1,908,340 |
Net earnings attributable to common shareholders | $ | 229,976 |  | $ | 213,983 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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