XML 44 R56.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Financial instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments | Fair value of financial instruments
2019 | Carrying amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Long-term investments carried at fair value | $ | 1,294,147 |  |  | $ | 1,294,147 |  |  | 1,178,581 |  |  | $ | 27,072 |  |  | $ | 88,494 |
Development loans and other receivables | 37,050 |  |  | 37,984 |  |  | — |  |  | 37,984 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 65,304 |  |  | 65,304 |  |  | — |  |  | — |  |  | 65,304 |
Energy contracts not designated as a hedge | 20,384 |  |  | 20,384 |  |  | — |  |  | — |  |  | 20,384 |
Commodity contracts for regulated operations | 16 |  |  | 16 |  |  | — |  |  | 16 |  |  | — |
Total derivative instruments | 85,704 |  |  | 85,704 |  |  | — |  |  | 16 |  |  | 85,688 |
Total financial assets | $ | 1,416,901 |  |  | $ | 1,417,835 |  |  | $ | 1,178,581 |  |  | $ | 65,072 |  |  | $ | 174,182 |
Long-term debt | $ | 3,931,868 |  |  | $ | 4,284,068 |  |  | $ | 1,495,153 |  |  | $ | 2,788,915 |  |  | $ | — |
Convertible debentures | 342 |  |  | 623 |  |  | 623 |  |  | — |  |  | — |
Preferred shares, Series C | 13,793 |  |  | 15,120 |  |  | — |  |  | 15,120 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 789 |  |  | 789 |  |  | — |  |  | — |  |  | 789 |
Energy contracts not designated as a hedge | 38 |  |  | 38 |  |  | — |  |  | — |  |  | 38 |
Cross-currency swap designated as a net investment hedge | 81,765 |  |  | 81,765 |  |  | — |  |  | 81,765 |  |  | — |
Commodity contracts for regulated operations | 2,072 |  |  | 2,072 |  |  | — |  |  | 2,072 |  |  | — |
Total derivative instruments | 84,664 |  |  | 84,664 |  |  | — |  |  | 83,837 |  |  | 827 |
Total financial liabilities | $ | 4,030,667 |  |  | $ | 4,384,475 |  |  | $ | 1,495,776 |  |  | $ | 2,887,872 |  |  | $ | 827 |
24. | Financial instruments (continued)
(a)Fair value of financial instruments (continued)
2018 | Carrying amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Long-term investment carried at fair value | $ | 814,530 |  |  | $ | 814,530 |  |  | $ | 814,530 |  |  | $ | — |  |  | $ | — |
Development loans and other receivables | 103,696 |  |  | 110,019 |  |  | — |  |  | 110,019 |  |  | — |
Derivative instruments (1): |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 61,838 |  |  | 61,838 |  |  | — |  |  | — |  |  | 61,838 |
Currency forward contract not designated as a hedge | 869 |  |  | 869 |  |  | — |  |  | 869 |  |  | — |
Commodity contracts for regulatory operations | 101 |  |  | 101 |  |  | — |  |  | 101 |  |  | — |
Total derivative instruments | 62,808 |  |  | 62,808 |  |  | — |  |  | 970 |  |  | 61,838 |
Total financial assets | $ | 981,034 |  |  | $ | 987,357 |  |  | $ | 814,530 |  |  | $ | 110,989 |  |  | $ | 61,838 |
Long-term debt | $ | 3,336,795 |  |  | $ | 3,356,773 |  |  | $ | 768,400 |  |  | $ | 2,588,373 |  |  | $ | — |
Convertible debentures | 470 |  |  | 639 |  |  | 639 |  |  | — |  |  | — |
Preferred shares, Series C | 13,418 |  |  | 13,703 |  |  | — |  |  | 13,703 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 57 |  |  | 57 |  |  | — |  |  | — |  |  | 57 |
Cross-currency swap designated as a net investment hedge | 93,198 |  |  | 93,198 |  |  | — |  |  | 93,198 |  |  | — |
Interest rate swaps designated as a hedge | 8,473 |  |  | 8,473 |  |  | — |  |  | 8,473 |  |  | — |
Commodity contracts for regulated operations | 1,114 |  |  | 1,114 |  |  | — |  |  | 1,114 |  |  | — |
Total derivative instruments | 102,842 |  |  | 102,842 |  |  | — |  |  | 102,785 |  |  | 57 |
Total financial liabilities | $ | 3,453,525 |  |  | $ | 3,473,957 |  |  | $ | 769,039 |  |  | $ | 2,704,861 |  |  | $ | 57 |
(1) Balance of $441 associated with certain weather derivatives have been excluded, as they are accounted for based on intrinsic value rather than fair value.
Summary of Commodity Volumes Associated with Derivative Contracts | The following are commodity volumes, in dekatherms (“dths”) associated with the above derivative contracts:
| 2019 |
Financial contracts: Swaps | 2,134,739 |
Options | 150,000 |
Forward contracts | 2,500,000 |
| 4,784,739 |
Impact of Change in Fair Value of Natural Gas Derivative Contracts | The following table presents the impact of the change in the fair value of the Company’s natural gas derivative contracts had on the consolidated balance sheets:
|  | 2019 |  |  | 2018
Regulatory assets: |  |  |  |  |
Swap contracts |  | $ | 28 |  |  |  | $ | 66 |
Option contracts |  | 38 |  |  |  | — |
Forward contracts |  | $ | 1,830 |  |  |  | $ | — |
Regulatory liabilities: |  |  |  |  |
Swap contracts |  | $ | 743 |  |  |  | $ | 218 |
Option contracts |  | — |  |  |  | 134 |
Forward contracts |  | $ | — |  |  |  | $ | 1,259 |
Long-Term Energy Derivative Contracts | The Company reduces the price risk on the expected future sale of power generation at Sandy Ridge, Senate and Minonk Wind Facilities by entering into the following long-term energy derivative contracts.
Notional quantity (MW-hrs) |  | Expiry |  | Receive average prices (per MW-hr) |  | Pay floating price (per MW-hr)
757,075 |  |  | December 2028 |  | 35.35 |  | PJM Western HUB
3,443,530 |  |  | December 2027 |  | 25.54 |  | PJM NI HUB
2,665,068 |  |  | December 2027 |  | 36.46 |  | ERCOT North HUB
Derivative Financial Instruments Designated as Cash Flow Hedge, Effect on Consolidated Statement of Operations | The following table summarizes OCI attributable to derivative financial instruments designated as a cash flow hedge:
| 2019 |  | 2018
Effective portion of cash flow hedge | $ | 19,177 |  |  | $ | 1,567 |
Amortization of cash flow hedge | (33 | ) |  | (33 | )
Amounts reclassified from AOCI | (8,564 | ) |  | (4,224 | )
OCI attributable to shareholders of APUC | $ | 10,580 |  |  | $ | (2,690 | )
Effects on Statement of Operations of Derivative Financial Instruments Not Designated as Hedges | The effects on the consolidated statements of operations of derivative financial instruments not designated as hedges consist of the following:
| 2019 |  | 2018
Change in unrealized loss (gain) on derivative financial instruments: |  |  |
Energy derivative contracts | $ | (530 | ) |  | $ | 77 |
Currency forward contract | 904 |  |  | (1,230 | )
Total change in unrealized loss (gain) on derivative financial instruments | $ | 374 |  |  | $ | (1,153 | )
Realized loss (gain) on derivative financial instruments: |  |  |
Energy derivative contracts | 227 |  |  | (73 | )
Currency forward contract | (147 | ) |  | 115 |
Total realized loss on derivative financial instruments | $ | 80 |  |  | $ | 42 |
Loss (gain) on derivative financial instruments not accounted for as hedges | 454 |  |  | (1,111 | )
Discontinued hedge accounting (note 24(b)(ii)) and other | (15,810 | ) |  | 632 |
| $ | (15,356 | ) |  | $ | (479 | )
Amounts recognized in the consolidated statements of operations consist of: |  |  |
Loss (gain) on derivative financial instruments | $ | (16,113 | ) |  | $ | 636 |
Loss (gain) on foreign exchange | 757 |  |  | (1,115 | )
| $ | (15,356 | ) |  | $ | (479 | )
Maximum Credit Risk Exposure for Financial Instruments | As of December 31, 2019, the Company’s maximum exposure to credit risk for these financial instruments was as follows:
| December 31, 2019
| Canadian $ |  | US $
Cash and cash equivalents and restricted cash | $ | 53,619 |  |  | $ | 45,989 |
Accounts receivable | 42,987 |  |  | 231,006 |
Allowance for doubtful accounts | (89 | ) |  | (4,850 | )
Notes receivable | 15,963 |  |  | 50,680 |
| $ | 112,480 |  |  | $ | 322,825 |
Liabilities Maturity Profile | The Company’s liabilities mature as follows:
| Due less than 1 year |  | Due 2 to 3 years |  | Due 4 to 5 years |  | Due after 5 years |  | Total
Long-term debt obligations | $ | 602,028 |  |  | $ | 468,740 |  |  | $ | 600,721 |  |  | $ | 2,260,416 |  |  | $ | 3,931,905 |
Convertible debentures | — |  | — |  | — |  |  | — |  |  | 346 |  |  | 346 |
Advances in aid of construction | 1,165 |  |  | — |  |  | — |  |  | 59,663 |  |  | 60,828 |
Interest on long-term debt | 185,231 |  |  | 318,469 |  |  | 257,443 |  |  | 992,116 |  |  | 1,753,259 |
Purchase obligations | 458,288 |  |  | — |  |  | — |  |  | — |  |  | 458,288 |
Environmental obligation | 14,970 |  |  | 20,850 |  |  | 1,128 |  |  | 21,536 |  |  | 58,484 |
Derivative financial instruments: |  |  |  |  |  |  |  |  |
Cross-currency swap | 4,149 |  |  | 69,099 |  |  | 3,851 |  |  | 4,666 |  |  | 81,765 |
Energy derivative and commodity contracts | 1,631 |  |  | 909 |  |  | — |  |  | 359 |  |  | 2,899 |
Other obligations | 39,115 |  |  | 2,120 |  |  | 2,696 |  |  | 109,094 |  |  | 153,025 |
Total obligations | $ | 1,306,577 |  |  | $ | 880,187 |  |  | $ | 865,839 |  |  | $ | 3,448,196 |  |  | $ | 6,500,799 |

X
- Definition Derivative Instruments Designated as Cash Flow Hedges Activity Disclosure. + References No definition available. + Details
Name: | aqunf_DerivativeInstrumentsDesignatedAsCashFlowHedgesActivityDisclosureTableTextBlock
Namespace Prefix: | aqunf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Derivative Instruments Not Designated as Cash Flow Hedges Activity Disclosure. + References No definition available. + Details
Name: | aqunf_DerivativeInstrumentsNotDesignatedAsCashFlowHedgesActivityDisclosureTableTextBlock
Namespace Prefix: | aqunf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair Value Of Financial Instruments Table. + References No definition available. + Details
Name: | aqunf_FairValueOfFinancialInstrumentsTableTextBlock
Namespace Prefix: | aqunf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Open Commodity Derivative Contracts. + References No definition available. + Details
Name: | aqunf_OpenCommodityDerivativeContractsTableTextBlock
Namespace Prefix: | aqunf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Changes in Fair Value of Derivatives on Financial Position [Table Text Block] + References No definition available. + Details
Name: | aqunf_ScheduleOfChangesInFairValueOfDerivativesOnFinancialPositionTableTextBlock
Namespace Prefix: | aqunf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph (a) -Subparagraph (5) + Details
Name: | srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5708773-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5708775-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4L -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5708777-113959 + Details
Name: | us-gaap_DisclosureOfCreditDerivativesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration