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Segmented information | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
Segmented information | Segmented information The Company is managed under two primary North American business units consisting of the Liberty Power Group and the Liberty Utilities Group. The two business units are the two segments of the Company. The Liberty Power Group owns and operates a diversified portfolio of non-regulated renewable and thermal electric generation assets in North America and internationally; the Liberty Utilities Group owns and operates a portfolio of regulated electric, natural gas, water distribution and wastewater collection utility systems and transmission operations in the United States. For purposes of evaluating divisional performance, the Company allocates the realized portion of any gains or losses on financial instruments to specific divisions. Dividend income from Atlantica (note 8(a)) and equity income from the AAGES entities (note 8(b)) are included in the operations of the Liberty Power Group. The change in value of the investment in Atlantica carried at fair value (note 8(a)) 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.
| Year ended December 31, 2018
| Liberty Utilities Group |  | Liberty Power Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 1,400,164 |  |  | $ | 247,223 |  |  | $ | — |  |  | $ | 1,647,387 |
Fuel, power and water purchased | 456,974 |  |  | 27,164 |  |  | — |  |  | 484,138 |
Net revenue | 943,190 |  |  | 220,059 |  |  | — |  |  | 1,163,249 |
Operating expenses | 401,486 |  |  | 70,980 |  |  | — |  |  | 472,466 |
Administrative expenses | 33,234 |  |  | 18,539 |  |  | 937 |  |  | 52,710 |
Depreciation and amortization | 177,719 |  |  | 82,044 |  |  | 1,009 |  |  | 260,772 |
Gain on foreign exchange | — |  |  | — |  |  | (58 | ) |  | (58 | )
Operating income | 330,751 |  |  | 48,496 |  |  | (1,888 | ) |  | 377,359 |
Interest expense | 99,063 |  |  | 50,920 |  |  | 2,135 |  |  | 152,118 |
Interest, dividend, equity and other income | (5,558 | ) |  | (45,741 | ) |  | (1,840 | ) |  | (53,139 | )
Change in value of investment carried at fair value | — |  |  | — |  |  | 137,957 |  |  | 137,957 |
Other expenses | 5,699 |  |  | 1,576 |  |  | 687 |  |  | 7,962 |
Earnings (loss) before income taxes | $ | 231,547 |  |  | $ | 41,741 |  |  | $ | (140,827 | ) |  | $ | 132,461 |
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 |
Capital expenditures | 370,221 |  |  | 96,148 |  |  | — |  |  | 466,369 |
(1) Revenue includes $14,953 related to net hedging gains from energy derivative contracts for the twelve months ended December 31, 2018 that do not represent revenue recognized from contracts with customers. (2) Liberty Utilities Group revenue includes $7,425 related to alternative revenue programs for the twelve months ended December 31, 2018 that do not represent revenue recognized from contracts with customers.
20. | Segmented information (continued)
| Year ended December 31, 2017
| Liberty Utilities Group |  | Liberty Power Group |  | Corporate |  | Total
Revenue | $ | 1,290,786 |  |  | $ | 231,152 |  |  | $ | — |  |  | $ | 1,521,938 |
Fuel and power purchased | 373,635 |  |  | 19,590 |  |  | — |  |  | 393,225 |
Net revenue | 917,151 |  |  | 211,562 |  |  | — |  |  | 1,128,713 |
Operating expenses | 383,380 |  |  | 66,851 |  |  | — |  |  | 450,231 |
Administrative expenses | 33,037 |  |  | 15,992 |  |  | 611 |  |  | 49,640 |
Depreciation and amortization | 171,111 |  |  | 79,183 |  |  | 1,020 |  |  | 251,314 |
Gain on foreign exchange | — |  |  | — |  |  | 323 |  |  | 323 |
Operating income (loss) | 329,623 |  |  | 49,536 |  |  | (1,954 | ) |  | 377,205 |
Interest expense | 97,698 |  |  | 36,646 |  |  | 21,478 |  |  | 155,822 |
Interest, dividend and other income | (4,208 | ) |  | (2,871 | ) |  | (2,159 | ) |  | (9,238 | )
Other expense | 6,087 |  |  | 1,713 |  |  | 47,689 |  |  | 55,489 |
Earnings (loss) before income taxes | $ | 230,046 |  |  | $ | 14,048 |  |  | $ | (68,962 | ) |  | $ | 175,132 |
Property, plant and equipment | $ | 4,023,479 |  |  | $ | 2,246,869 |  |  | $ | 34,549 |  |  | $ | 6,304,897 |
Equity-method investees | 2,220 |  |  | 29,710 |  |  | 337 |  |  | 32,267 |
Total assets | 5,817,599 |  |  | 2,474,293 |  |  | 103,675 |  |  | 8,395,567 |
Capital expenditures | 407,408 |  |  | 157,695 |  |  | — |  |  | 565,103 |
The majority of non-regulated energy sales are earned from contracts with large public utilities. The Company has mitigated its credit risk to the extent possible by selling energy to large utilities in various North American locations. None of the utilities contribute more than 10% of total revenue. 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:
| 2018 |  | 2017
Revenue |  |  |
Canada | $ | 70,358 |  |  | $ | 73,406 |
United States | 1,577,029 |  |  | 1,448,532 |
| $ | 1,647,387 |  |  | $ | 1,521,938 |
Property, plant and equipment |  |  |
Canada | $ | 415,979 |  |  | $ | 453,323 |
United States | 5,977,579 |  |  | 5,851,574 |
| $ | 6,393,558 |  |  | $ | 6,304,897 |
Intangible assets |  |  |
Canada | $ | 23,994 |  |  | $ | 27,624 |
United States | 31,000 |  |  | 23,479 |
| $ | 54,994 |  |  | $ | 51,103 |
Revenue is attributed to the two countries based on the location of the underlying generating and utility facilities.

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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