XML 43 R25.htm IDEA: XBRL DOCUMENT
v3.19.2

Segmented information | 6 Months Ended
--- | ---
Jun. 30, 2019
Segment Reporting [Abstract] |
Segmented information | Segmented information The Company is managed under two primary business units consisting of the Liberty Utilities Group and the Liberty Power Group. The two business units are the two segments of the Company. The Liberty Utilities Group, the Company's regulated operating unit, owns and operates a portfolio of electric, natural gas, water distribution and wastewater collection utility systems and transmission operations in the United States and Canada; the Liberty Power Group, the Company's non-regulated operating unit, owns and operates a diversified portfolio of renewable and thermal electric generation assets in North America and internationally. For purposes of evaluating divisional performance, the Company allocates the realized portion of any gains or losses on financial instruments to specific divisions. Equity income from the San Antonio Water System and Wataynikaneyap Power Transmission Project (note 6) are included in the operations of the Liberty Utilities Group. Dividend income from Atlantica and AYES Canada as well as equity income from the AAGES entities (note 6) are included in the operations of the Liberty Power Group. The change in value of investments carried at fair value and unrealized portion of any gains or losses on derivative instruments not designated in a hedging relationship are not considered in management’s evaluation of divisional performance and are therefore allocated and reported under corporate. The results of operations and assets for these segments are reflected in the tables below.
| Three Months Ended June 30, 2019
| Liberty Utilities Group |  | Liberty Power Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 281,607 |  |  | $ | 61,971 |  |  | $ | — |  |  | $ | 343,578 |
Fuel, power and water purchased | 73,469 |  |  | 2,658 |  |  | — |  |  | 76,127 |
Net revenue | 208,138 |  |  | 59,313 |  |  | — |  |  | 267,451 |
Operating expenses | 102,021 |  |  | 18,166 |  |  | — |  |  | 120,187 |
Administrative expenses | 6,546 |  |  | 7,335 |  |  | (357 | ) |  | 13,524 |
Depreciation and amortization | 47,034 |  |  | 22,536 |  |  | 243 |  |  | 69,813 |
Loss on foreign exchange | — |  |  | — |  |  | 1,467 |  |  | 1,467 |
Operating income (loss) | 52,537 |  |  | 11,276 |  |  | (1,353 | ) |  | 62,460 |
Interest expense | 26,057 |  |  | 16,237 |  |  | 3,546 |  |  | 45,840 |
Interest, dividend, equity and other income | (1,854 | ) |  | (37,050 | ) |  | (364 | ) |  | (39,268 | )
Change in value of investments carried at fair value | — |  |  | — |  |  | (121,394 | ) |  | (121,394 | )
Other | 8,796 |  |  | (77 | ) |  | 422 |  |  | 9,141 |
Earnings before income taxes | $ | 19,538 |  |  | $ | 32,166 |  |  | $ | 116,437 |  |  | $ | 168,141 |
Capital expenditures | $ | 104,758 |  |  | $ | 906 |  |  | $ | — |  |  | $ | 105,664 |
(1) Revenues include $5,200 related to hedging gains from energy derivative contracts for the three months ended June 30, 2019 that do not represent revenues recognized from contracts with customers. (2) Liberty Utilities Group revenues include $3,460 related to alternative revenue programs for the three months ended June 30, 2019 that do not represent revenues recognized from contracts with customers. 17.Segmented information (continued)
| Three Months Ended June 30, 2018
| Liberty Utilities Group |  | Liberty Power Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 309,930 |  |  | $ | 56,213 |  |  | $ | — |  |  | $ | 366,143 |
Fuel, power and water purchased | 89,069 |  |  | 4,523 |  |  | — |  |  | 93,592 |
Net revenue | 220,861 |  |  | 51,690 |  |  | — |  |  | 272,551 |
Operating expenses | 101,514 |  |  | 18,748 |  |  | — |  |  | 120,262 |
Administrative expenses | 9,212 |  |  | 4,166 |  |  | 185 |  |  | 13,563 |
Depreciation and amortization | 44,740 |  |  | 19,790 |  |  | 251 |  |  | 64,781 |
Gain on foreign exchange | — |  |  | — |  |  | (1,272 | ) |  | (1,272 | )
Operating income | 65,395 |  |  | 8,986 |  |  | 836 |  |  | 75,217 |
Interest expense | 24,767 |  |  | 13,127 |  |  | 535 |  |  | 38,429 |
Interest, dividend, equity and other income | (1,360 | ) |  | (8,915 | ) |  | (617 | ) |  | (10,892 | )
Change in value of investment carried at fair value | — |  |  | — |  |  | (15,033 | ) |  | (15,033 | )
Other | 346 |  |  | (157 | ) |  | 1,058 |  |  | 1,247 |
Earnings before income taxes | $ | 41,642 |  |  | $ | 4,931 |  |  | $ | 14,893 |  |  | $ | 61,466 |
Capital expenditures | $ | 72,544 |  |  | $ | 10,552 |  |  | $ | — |  |  | $ | 83,096 |
(1) Revenues include $4,846 related to hedging gains from energy derivative contracts for the three months ended June 30, 2018 that do not represent revenues recognized from contracts with customers. (2) Liberty Utilities Group revenues include $5,339 related to alternative revenue programs for the three months ended June 30, 2018 that do not represent revenues recognized from contracts with customers. 17.Segmented information (continued)
| Six Months Ended June 30, 2019
| Liberty Utilities Group |  | Liberty Power Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 692,631 |  |  | $ | 128,172 |  |  | $ | — |  |  | $ | 820,803 |
Fuel, power and water purchased | 224,075 |  |  | 9,579 |  |  | — |  |  | 233,654 |
Net revenue | 468,556 |  |  | 118,593 |  |  | — |  |  | 587,149 |
Operating expenses | 203,996 |  |  | 36,304 |  |  | — |  |  | 240,300 |
Administrative expenses | 11,979 |  |  | 14,889 |  |  | (226 | ) |  | 26,642 |
Depreciation and amortization | 95,451 |  |  | 44,921 |  |  | 488 |  |  | 140,860 |
Loss on foreign exchange | — |  |  | — |  |  | 934 |  |  | 934 |
Operating income (loss) | 157,130 |  |  | 22,479 |  |  | (1,196 | ) |  | 178,413 |
Interest expense | 51,149 |  |  | 32,444 |  |  | 4,868 |  |  | 88,461 |
Interest, dividend, equity and other income | (3,111 | ) |  | (60,547 | ) |  | (900 | ) |  | (64,558 | )
Change in value of investments carried at fair value | — |  |  | — |  |  | (115,576 | ) |  | (115,576 | )
Other | 10,756 |  |  | 73 |  |  | 2,365 |  |  | 13,194 |
Earnings before income taxes | $ | 98,336 |  |  | $ | 50,509 |  |  | $ | 108,047 |  |  | $ | 256,892 |
Capital expenditures | $ | 202,173 |  |  | $ | 10,877 |  |  | $ | — |  |  | $ | 213,050 |
Property, plant and equipment | $ | 4,315,669 |  |  | $ | 2,462,792 |  |  | $ | 32,816 |  |  | $ | 6,811,277 |
Investments carried at fair value | — |  |  | 1,097,661 |  |  | — |  |  | 1,097,661 |
Equity-method investees | 28,149 |  |  | 22,066 |  |  | 271 |  |  | 50,486 |
Total assets | $ | 6,070,178 |  |  | $ | 3,844,668 |  |  | $ | 119,482 |  |  | $ | 10,034,328 |
(1) Revenues include $11,640 related to hedging gains for the six months ended June 30, 2019 that do not represent revenues recognized from contracts with customers. (2) Liberty Utilities Group revenues include $(3,561) related to alternative revenue programs for the six months ended June 30, 2019 that do not represent revenues recognized from contracts with customers. 17.Segmented information (continued)
| Six Months Ended June 30, 2018
| Liberty Utilities Group |  | Liberty Power Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 733,588 |  |  | $ | 126,769 |  |  | $ | — |  |  | $ | 860,357 |
Fuel and power purchased | 252,428 |  |  | 13,454 |  |  | — |  |  | 265,882 |
Net revenue | 481,160 |  |  | 113,315 |  |  | — |  |  | 594,475 |
Operating expenses | 203,988 |  |  | 37,396 |  |  | — |  |  | 241,384 |
Administrative expenses | 18,057 |  |  | 7,745 |  |  | 345 |  |  | 26,147 |
Depreciation and amortization | 89,484 |  |  | 43,433 |  |  | 513 |  |  | 133,430 |
Gain on foreign exchange | — |  |  | — |  |  | (1,071 | ) |  | (1,071 | )
Operating income | 169,631 |  |  | 24,741 |  |  | 213 |  |  | 194,585 |
Interest expense | 49,971 |  |  | 22,867 |  |  | 1,091 |  |  | 73,929 |
Interest, dividend and other income | (2,760 | ) |  | (17,676 | ) |  | (1,117 | ) |  | (21,553 | )
Change in value of investment carried at fair value | — |  |  | — |  |  | 101,971 |  |  | 101,971 |
Other | (1,074 | ) |  | (40 | ) |  | 8,644 |  |  | 7,530 |
Earnings (loss) before income taxes | $ | 123,494 |  |  | $ | 19,590 |  |  | $ | (110,376 | ) |  | $ | 32,708 |
Capital expenditures | $ | 168,733 |  |  | $ | 72,537 |  |  | — |  |  | $ | 241,270 |
| December 31, 2018
Property, plant and equipment | $ | 4,210,115 |  |  | $ | 2,152,420 |  |  | $ | 31,023 |  |  | $ | 6,393,558 |
Investment carried at fair value | — |  |  | 814,530 |  |  | — |  |  | 814,530 |
Equity-method investees | 959 |  |  | 29,273 |  |  | 260 |  |  | 30,492 |
Total assets | $ | 6,012,641 |  |  | $ | 3,269,786 |  |  | $ | 106,541 |  |  | $ | 9,388,968 |
(1) Revenues include $13,230 related to hedging gains from energy derivative contracts for the six months ended June 30, 2018 that do not represent revenues recognized from contracts with customers. (2) Liberty Utilities Group revenues include $5,970 related to alternative revenue programs for the six months ended June 30, 2018 that do not represent revenues recognized from contracts with customers. APUC operates in the independent power and utility industries in both Canada and the United States. Information on operations by geographic area is as follows:
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2019 |  | 2018 |  | 2019 |  | 2018
Revenue |  |  |  |  |  |  |
Canada | $ | 21,633 |  |  | $ | 17,616 |  |  | $ | 40,164 |  |  | $ | 36,902 |
United States | 321,945 |  |  | 348,527 |  |  | 780,639 |  |  | 823,455 |
| $ | 343,578 |  |  | $ | 366,143 |  |  | $ | 820,803 |  |  | $ | 860,357 |
Revenue is attributed to the two countries based on the location of the underlying facilities.

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration