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Financial instruments (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair value of financial instruments
December 31, 2020Carrying
amount
Fair
value
Level 1Level 2Level 3
Long-term investments carried at fair value$1,837,429 $1,837,429 $1,706,900 $20,015 $110,514 
Development loans and other receivables23,804 31,088  31,088  
Derivative instruments:
Energy contracts designated as a cash flow hedge51,525 51,525   51,525 
Energy contracts not designated as cash flow hedge388 388 —  388 
Commodity contracts for regulated operations194 194  194  
Total derivative instruments52,107 52,107  194 51,913 
Total financial assets$1,913,340 $1,920,624 $1,706,900 $51,297 $162,427 
Long-term debt$4,538,470 $5,140,059 $2,316,586 $2,823,473 $ 
Notes payable to related party30,493 30,493  30,493  
Convertible debentures295 623 623   
Preferred shares, Series C13,698 15,565  15,565  
Derivative instruments:
Energy contracts designated as a cash flow hedge5,597 5,597   5,597 
Energy contracts not designated as a cash flow hedge332 332   332 
Cross-currency swap designated as a net investment hedge84,543 84,543  84,543  
Interest rate swaps designated as a hedge19,324 19,324  19,324  
Commodity contracts for regulated operations614 614  614  
Total derivative instruments110,410 110,410  104,481 5,929 
Total financial liabilities$4,693,366 $5,297,150 $2,317,209 $2,974,012 $5,929 
24.Financial instruments (continued)
(a)Fair value of financial instruments (continued)
December 31, 2019Carrying
amount
Fair
value
Level 1Level 2Level 3
Long-term investment carried at fair value$1,294,147 $1,294,147 $1,178,581 $27,072 $88,494 
Development loans and other receivables37,050 37,984 — 37,984 — 
Derivative instruments:
Energy contracts designated as a cash flow hedge65,304 65,304 — — 65,304 
Energy contracts not designated as a cash flow hedge20,384 20,384 — — 20,384 
Commodity contracts for regulatory operations16 16 — 16 — 
Total derivative instruments85,704 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 debentures342 623 623 — — 
Preferred shares, Series C13,793 15,120 — 15,120 — 
Derivative instruments:
Energy contracts designated as a cash flow hedge789 789 — — 789 
Energy contracts not designated as a cash flow hedge38 38 — — 38 
Cross-currency swap designated as a net investment hedge81,765 81,765 — 81,765 — 
Commodity contracts for regulated operations2,072 2,072 — 2,072 — 
Total derivative instruments84,664 84,664 — 83,837 827 
Total financial liabilities$4,030,667 $4,384,475 $1,495,776 $2,887,872 $827 
Summary of Commodity Volumes Associated with Derivative Contracts
The following are commodity volumes, in dekatherms (“dths”), associated with the above derivative contracts:
 2020
Financial contracts: Swaps
1,830,852 
         Options479,692 
Forward contracts
1,500,000 
3,810,544 
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 on the consolidated balance sheets: 
20202019
Regulatory assets:
Swap contracts$228 $28 
Option contracts50 38 
Forward contracts$693 $1,830 
Regulatory liabilities:
Swap contracts$271 $743 
Option contracts$76 $— 
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 and the Shady Oaks II development project by entering into the following long-term energy derivative contracts. 
Notional quantity
(MW-hrs)
ExpiryReceive average
prices (per MW-hr)
Pay floating price
(per MW-hr)
2,479,234 December 2031$23.50NI HUB
642,280  December 2028 $34.02 PJM Western HUB
2,953,751  December 2027 $24.76 NI HUB
2,330,995  December 2027 $36.46 ERCOT North HUB
Derivative Financial Instruments Designated as Cash Flow Hedge, Effect on Consolidated Statement of Operations
The following table summarizes OCI attributable to derivative financial instruments designated as a cash flow hedge: 
20202019
Effective portion of cash flow hedge$(13,418)$19,177 
Amortization of cash flow hedge(1,248)(33)
Amounts reclassified from AOCI(9,616)(8,564)
OCI attributable to shareholders of AQN$(24,282)$10,580 
Effects on Statement of Operations of Derivative Financial Instruments Not Designated as Hedges
The effects on the consolidated statements of operations of derivative financial instruments not designated as hedges consist of the following:
20202019
Change in unrealized gain (loss) on derivative financial instruments:
Energy derivative contracts$(901)$530 
Currency forward contract (904)
Total change in unrealized gain (loss) on derivative financial instruments$(901)$(374)
Realized gain (loss) on derivative financial instruments:
Energy derivative contracts(1,145)(227)
Currency forward contract2,363 147 
Total realized gain (loss) on derivative financial instruments$1,218 $(80)
Gain (loss) on derivative financial instruments not accounted for as hedges317 (454)
Amortization of AOCI gains frozen as a result of hedge dedesignation3,009 15,810 
$3,326 $15,356 
Amounts recognized in the consolidated statements of operations consist of:
Gain on derivative financial instruments $964 $16,113 
Gain (loss) on foreign exchange2,362 (757)
$3,326 $15,356 
Maximum Credit Risk Exposure for Financial Instruments
As of December 31, 2020, the Company’s maximum exposure to credit risk for these financial instruments was as follows: 
 2020
Cash and cash equivalents and restricted cash$130,018 
Accounts receivable355,151 
Allowance for doubtful accounts(29,506)
Notes receivable23,804 
$479,467 
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$334,352 $821,535 $285,600 $3,092,544 $4,534,031 
Interest on long-term debt195,876 337,199 267,112 1,084,022 1,884,209 
Purchase obligations561,690 — — — 561,690 
Environmental obligation16,955 26,409 1,251 21,518 66,133 
Advances in aid of construction1,236 — — 78,628 79,864 
Derivative financial instruments:
Cross-currency swap37,338 29,999 19,875 (2,670)84,542 
Interest rate swaps2,725 4,346 4,369 7,885 19,325 
Energy derivative and commodity contracts1,917 (233)919 3,940 6,543 
Other obligations79,219 6,601 5,232 125,209 216,261 
Total obligations$1,231,308 $1,225,856 $584,358 $4,411,076 $7,452,598