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Segmented information (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Results of Operations and Assets for Segments |
| Three months ended June 30, 2021
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 444,864 |  |  | $ | 82,262 |  |  | $ | 397 |  |  | $ | 527,523 |
Fuel, power and water purchased | 148,403 |  |  | 6,061 |  |  | — |  |  | 154,464 |
Net revenue | 296,461 |  |  | 76,201 |  |  | 397 |  |  | 373,059 |
Operating expenses | 144,774 |  |  | 25,204 |  |  | — |  |  | 169,978 |
Administrative expenses (recovery) | 11,561 |  |  | 7,303 |  |  | (638) |  |  | 18,226 |
Depreciation and amortization | 67,520 |  |  | 30,369 |  |  | 272 |  |  | 98,161 |
Loss on foreign exchange | — |  |  | — |  |  | 1,283 |  |  | 1,283 |
Operating income (loss) | 72,606 |  |  | 13,325 |  |  | (520) |  |  | 85,411 |
Interest expense | (27,114) |  |  | (20,452) |  |  | (10,616) |  |  | (58,182) |
Income from long-term investments | 9,695 |  |  | 25,988 |  |  | 24,823 |  |  | 60,506 |
Other expenses | (4,155) |  |  | (2,778) |  |  | (95) |  |  | (7,028) |
Earnings before income taxes | $ | 51,032 |  |  | $ | 16,083 |  |  | $ | 13,592 |  |  | $ | 80,707 |
Capital expenditures | $ | 341,431 |  |  | $ | 66,312 |  |  | $ | — |  |  | $ | 407,743 |
(1) Renewable Energy Group revenue includes $4,996 related to net hedging gains from energy derivative contracts and availability credits for the three-months period ended June 30, 2021 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $5,118 related to alternative revenue programs for the three-months period ended June 30, 2021 that do not represent revenue recognized from contracts with customers. 18. Segmented information (continued)
| Three months ended June 30, 2020
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 279,458 |  |  | $ | 64,180 |  |  | $ | — |  |  | $ | 343,638 |
Fuel, power and water purchased | 65,358 |  |  | 2,741 |  |  | — |  |  | 68,099 |
Net revenue | 214,100 |  |  | 61,439 |  |  | — |  |  | 275,539 |
Operating expenses | 105,067 |  |  | 17,871 |  |  | — |  |  | 122,938 |
Administrative expenses | 9,198 |  |  | 8,052 |  |  | 635 |  |  | 17,885 |
Depreciation and amortization | 52,629 |  |  | 22,803 |  |  | 235 |  |  | 75,667 |
Gain on foreign exchange | — |  |  | — |  |  | (24) |  |  | (24) |
Operating income (loss) | 47,206 |  |  | 12,713 |  |  | (846) |  |  | 59,073 |
Interest expense | (24,097) |  |  | (13,618) |  |  | (7,103) |  |  | (44,818) |
Income from long-term investments | 2,962 |  |  | 23,839 |  |  | 308,008 |  |  | 334,809 |
Other expenses | (19,695) |  |  | (883) |  |  | (8,590) |  |  | (29,168) |
Earnings before income taxes | $ | 6,376 |  |  | $ | 22,051 |  |  | $ | 291,469 |  |  | $ | 319,896 |
Capital expenditures | $ | 157,641 |  |  | $ | 28,766 |  |  | $ | — |  |  | $ | 186,407 |
(1) Renewable Energy Group revenue includes $7,447 related to net hedging gains from energy derivative contracts for the three-months period ended June 30, 2020 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $4,761 related to alternative revenue programs for the three-months period ended June 30, 2020 that do not represent revenue recognized from contracts with customers. 18. Segmented information (continued)
| Six months ended June 30, 2021
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 1,043,467 |  |  | $ | 117,815 |  |  | $ | 783 |  |  | $ | 1,162,065 |
Fuel, power and water purchased | 393,925 |  |  | 13,989 |  |  | — |  |  | 407,914 |
Net revenue | 649,542 |  |  | 103,826 |  |  | 783 |  |  | 754,151 |
Operating expenses | 297,910 |  |  | 53,229 |  |  | — |  |  | 351,139 |
Administrative expenses | 19,101 |  |  | 13,486 |  |  | 1,178 |  |  | 33,765 |
Depreciation and amortization | 135,087 |  |  | 59,947 |  |  | 566 |  |  | 195,600 |
Loss on foreign exchange | — |  |  | — |  |  | 2,145 |  |  | 2,145 |
Operating income (loss) | 197,444 |  |  | (22,836) |  |  | (3,106) |  |  | 171,502 |
Interest expense | (51,415) |  |  | (36,745) |  |  | (19,602) |  |  | (107,762) |
Income (loss) from long-term investments | 10,869 |  |  | 48,405 |  |  | (49,275) |  |  | 9,999 |
Other expenses | (12,646) |  |  | (3,654) |  |  | (1,707) |  |  | (18,007) |
Earnings (loss) before income taxes | $ | 144,252 |  |  | $ | (14,830) |  |  | $ | (73,690) |  |  | $ | 55,732 |
Property, plant and equipment | $ | 7,110,770 |  |  | $ | 3,763,057 |  |  | $ | 31,446 |  |  | $ | 10,905,273 |
Investments carried at fair value | 2,499 |  |  | 1,926,629 |  |  | — |  |  | 1,929,128 |
Equity-method investees | 11,548 |  |  | 252,703 |  |  | — |  |  | 264,251 |
Total assets | 10,148,986 |  |  | 6,187,072 |  |  | 117,593 |  |  | 16,453,651 |
Capital expenditures | $ | 553,950 |  |  | $ | 149,182 |  |  | $ | — |  |  | $ | 703,132 |
(1) Renewable Energy Group revenue includes $44,587 related to net hedging losses from energy derivative contracts and availability credits for the six-months period ended June 30, 2021 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $7,479 related to alternative revenue programs for the six-months period ended June 30, 2021 that do not represent revenue recognized from contracts with customers. 18. Segmented information (continued)
| Six months ended June 30, 2020
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 675,518 |  |  | $ | 133,021 |  |  | $ | — |  |  | $ | 808,539 |
Fuel, power and water purchased | 188,455 |  |  | 6,745 |  |  | — |  |  | 195,200 |
Net revenue | 487,063 |  |  | 126,276 |  |  | — |  |  | 613,339 |
Operating expenses | 213,434 |  |  | 36,238 |  |  | — |  |  | 249,672 |
Administrative expenses | 18,685 |  |  | 14,258 |  |  | 1,776 |  |  | 34,719 |
Depreciation and amortization | 105,639 |  |  | 48,431 |  |  | 477 |  |  | 154,547 |
Gain on foreign exchange | — |  |  | — |  |  | (4,694) |  |  | (4,694) |
Operating income | 149,305 |  |  | 27,349 |  |  | 2,441 |  |  | 179,095 |
Interest expense | (48,937) |  |  | (28,097) |  |  | (14,032) |  |  | (91,066) |
Income from long-term investments | 5,610 |  |  | 47,605 |  |  | 118,933 |  |  | 172,148 |
Other expenses | (24,692) |  |  | (49) |  |  | (8,616) |  |  | (33,357) |
Earnings before income taxes | $ | 81,286 |  |  | $ | 46,808 |  |  | $ | 98,726 |  |  | $ | 226,820 |
Capital expenditures | $ | 297,273 |  |  | $ | 45,036 |  |  | $ | — |  |  | $ | 342,309 |
| December 31, 2020
Property, plant and equipment | $ | 5,757,532 |  |  | $ | 2,451,706 |  |  | $ | 32,600 |  |  | $ | 8,241,838 |
Investments carried at fair value | — |  |  | 1,839,212 |  |  | — |  |  | 1,839,212 |
Equity-method investees | 74,673 |  |  | 110,414 |  |  | 1,365 |  |  | 186,452 |
Total assets | 8,528,415 |  |  | 4,586,878 |  |  | 108,856 |  |  | 13,224,149 |
(1) Renewable Energy Group revenue includes $16,739 related to net hedging gains from energy derivative contracts for the six-months period ended June 30, 2020 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $7,730 related to alternative revenue programs for the six-months period ended June 30, 2020 that do not represent revenue recognized from contracts with customers.
Information on Operations by Geographic Area | Information on operations by geographic area is as follows:
| Three months ended June 30 |  | Six months ended June 30
| 2021 |  | 2020 |  | 2021 |  | 2020
Revenue |  |  |  |  |  |  |
United States | $ | 415,431 |  |  | $ | 309,715 |  |  | $ | 927,258 |  |  | $ | 726,871 |
Canada | 35,951 |  |  | 33,923 |  |  | 83,803 |  |  | 81,668 |
Other regions | 76,141 |  |  | — |  |  | 151,004 |  |  | — |
| $ | 527,523 |  |  | $ | 343,638 |  |  | $ | 1,162,065 |  |  | $ | 808,539 |

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