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Income taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The differences are as follows:

			2021						2020
Expected income tax expense at Canadian statutory rate			$	37,691					$	209,989
Increase (decrease) resulting from:
Effect of differences in tax rates on transactions in and within foreign jurisdictions and change in tax rates			(47,600)						(27,082)
Adjustments from investments carried at fair value			2,709						(87,058)
Non-controlling interests share of income			25,135						18,243
Non-deductible acquisition costs			3,733						3,223
Tax credits			(49,415)						(40,185)
Adjustment relating to prior periods			1,333						(4,228)
Deferred income taxes on regulated income recorded as regulatory assets			(3,807)						(2,811)
Amortization and settlement of excess deferred income tax			(16,778)						(12,392)
Other			3,574						6,884
Income tax expense (recovery)			$	(43,425)					$	64,583

Schedule of Income (Loss) Before Taxes

For the years ended December 31, 2021 and 2020, earnings before income taxes consist of the following:

			2021						2020
Canada (1)			$	(60,848)					$	622,776
U.S.			153,719						165,431
Other regions			49,361						4,204
			$	142,232					$	792,411

(1) Inclusive of fair value gain (loss) on investments carried at fair value (note 8)

Schedule of Income Tax Expenses (Recovery) Attributable to Income (Loss)

Income tax expense (recovery) attributable to income (loss) consists of: 

			Current						Deferred						Total
Year ended December 31, 2021
Canada			$	4,560					$	(33,993)					$	(29,433)
United States			1,024						(19,772)						(18,748)
Other regions			$	1,653					$	3,103					4,756
			$	7,237					$	(50,662)					$	(43,425)
Year ended December 31, 2020
Canada			$	4,319					$	62,061					$	66,380
United States			(1,448)						(1,745)						(3,193)
Other regions			$	2,017					$	(621)					1,396
			$	4,888					$	59,695					$	64,583

Schedule of Tax Effect of Temporary Difference Between Assets and Liability

The tax effect of temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2021 and 2020 are presented below:

			2021						2020
Deferred tax assets:
Non-capital loss, investment tax credits, currently non-deductible interest expenses, and financing costs			$	761,666					$	531,353
Pension and OPEB			46,580						66,826
Environmental obligation			15,271						16,145
Regulatory liabilities			166,939						168,054
Other			64,460						65,787
Total deferred income tax assets			$	1,054,916					$	848,165
Less: valuation allowance			(27,471)						(29,824)
Total deferred tax assets			$	1,027,445					$	818,341
Deferred tax liabilities:
Property, plant and equipment			$	782,829					$	733,211
Outside basis differentials			412,665						406,429
Regulatory accounts			300,072						212,937
Other			30,471						12,528
Total deferred tax liabilities			$	1,526,037					$	1,365,105
Net deferred tax liabilities			$	(498,592)					$	(546,764)
Consolidated balance sheets classification:
Deferred tax assets			$	31,595					$	21,880
Deferred tax liabilities			(530,187)						(568,644)
Net deferred tax liabilities			$	(498,592)					$	(546,764)

Schedule of Non Capital Losses Carry Forwards

As of December 31, 2021, the Company had non-capital losses carried forward and tax credits available to reduce future years' taxable income, which expire as follows: 

Non-capital loss carryforward and credits			2022—2026			2027+			Total
Canada			$	—		$	678,881		$	678,881
US			11,283			1,334,299			1,345,582
Total non-capital loss carryforward			$	11,283		$	2,013,180		$	2,024,463
Tax credits			$	4,476		$	132,509		$	136,985

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